Guinea-Bissau vs Latvia: Economic Indicators Comparison

Latvia with a GDP of $34.4B ranked the 100th largest economy in the world, while Guinea-Bissau ranked 181st with $1.5B. By GDP 5-years average growth and GDP per capita, Latvia and Guinea-Bissau ranked 74th vs 44th and 51st vs 179th, respectively.

Gross Domestic Product & Income

StatGuinea-BissauLatvia
GDP$1.5B$34.4B
GDP growth, 1 year3.8%4.8%
GDP growth, 5-years average4.6%3.3%
Population1.9M1.9M
GDP per capita$778$18k
GDP per capita growth1.24%5.47%
Purchasing Power Parity conversion factor240.310.5
Price level ratio of PPP conversion factor GDP to market exchange rate0.430.59
GDP per capita, PPP adjusted$1.9k$30k
GNI, Atlas method$1.4B$31.8B
GNI per capita$750$17k
GNI, PPP adjusted$3.4B$57.4B
GNI per capita, PPP adjusted$1.8k$30k

Financial system and Human development

StatGuinea-BissauLatvia
Income Tax Rate20%31.4%
Corporate Tax Rate25%20%
Inflation, consumer prices1.4%2.6%
Inflation, GDP deflator-0.4%4%
Unemployment4.1%7.9%
Economic Freedom Index53.371.9
Personal Freedom Index6.838.65
Human Freedom Index5.978.16
Property Rights Index41.372.3
Judical Effectiveness Index48.451.1
Business Freedom Index39.177
Fiscal Health Index67.396.5
Labor Freedom Index61.272.4
Investment Freedom Index3085
Financial Freedom Index3060
Trade Freedom Index4986.4
Monetary Freedom Index82.780.2
Government Spending Index86.758.3
Tax Burden Index88.776.9
Government Integrity Index14.846.4
Corruption Perceptions Index1658
Life expectancy at birth, years57.774.7
Suicide mortality rate, per 100,000 people421.2
Mortality caused by road traffic injury, per 100,000 people31.19.3
Intentional homicides, per 100,000 people1.14.2
International tourism, number of arrivals45k1.9M

Government debt & reserves

StatGuinea-BissauLatvia
Central government debt, % of GDP56.1%37.6%
External debt stocks, % of GNI28.9%N/A
External debt stocks$420.7MN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary income1.9%N/A
Adjusted net savings including particulate emission damage, % of GNI-11%6%
Gross savings, % of GDP8.8%22.8%
Gross capital formation, % of GDP10.9%23.5%
Total reserves including goldN/A$4.4B
Foreign direct investment net inflows$20.6M$447M

Exports, imports and economic structure

StatGuinea-BissauLatvia
Exports of goods and services, % of GDP25.3%61.3%
Imports of goods and services, % of GDP32.5%61.5%
Current account balance (balance of payments)-$54.1M-$211M
Revenue excluding grants, % of GDP12.7%41.4%
Grants excluding technical cooperation, BoP$80M$148.1M
Personal remittances received$127.9M$1.2B
Industry including construction value added, % of GDP12.6%19.5%
Agriculture, forestry and fishing value added, % of GDP47.5%3.6%
Charges for the use of intellectual property, payments BoP$2.4k$64.6M
Charges for the use of intellectual property, receipts BoP$79k$10.6M
Expense, % of GDP12.6%43%
Government Expenditure, % of GDP21.1%37.3%

Compare with countries close by GDP per capita

Guinea-Bissau vs

CountryGDP
per capita
Population
Myanmar
$1.3k
53.4M
Lesotho
$1.3k
2.23M
Kyrgyzstan
$1.3k
6.2M
Mauritania
$1.2k
4.42M
South Sudan
$1.1k
12.6M
Tanzania
$1.1k
57.3M
Nepal
$1k
29.4M
Sudan
$977
40.5M
Yemen
$944
28.3M
Benin
$902
11.2M
Mali
$900
18.5M
Guinea
$879
12.7M
Haiti
$868
11M
Tajikistan
$827
8.92M
Eritrea
$811
3.5M
Rwanda
$773
12.2M
Ethiopia
$772
105M
Chad
$728
15.5M
Gambia
$716
2.1M
Burkina Faso
$715
19.2M
Togo
$679
7.8M
Liberia
$677
4.73M
Uganda
$643
42.9M
DR Congo
$562
86.8M
Sierra Leone
$534
7.56M
Madagascar
$528
25.6M
Afghanistan
$521
34.9M
Mozambique
$499
29.7M
Central African Republic
$476
4.66M
Niger
$414
21.5M

Latvia vs

CountryGDP
per capita
Population
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Barbados
$18k
286k
Uruguay
$17k
3.46M
Trinidad and Tobago
$17k
1.37M
Antigua and Barbuda
$17k
102k
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M
Venezuela
$16k
28.5M
Chile
$16k
18.1M
Palau
$16k
21.7k
Panama
$16k
4.1M
Poland
$15k
38.4M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M
Argentina
$12k
44.9M