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
| Stat |  Guinea-Bissau |  Latvia |
|---|---|---|
| GDP | $1.5B | $34.4B |
| GDP growth, 1 year | 3.8% | 4.8% |
| GDP growth, 5-years average | 4.6% | 3.3% |
| Population | 1.9M | 1.9M |
| GDP per capita | $778 | $18k |
| GDP per capita growth | 1.24% | 5.47% |
| Purchasing Power Parity conversion factor | 240.31 | 0.5 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.43 | 0.59 |
| 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
| Stat | Guinea-Bissau | Latvia |
|---|---|---|
| Income Tax Rate | 20% | 31.4% |
| Corporate Tax Rate | 25% | 20% |
| Inflation, consumer prices | 1.4% | 2.6% |
| Inflation, GDP deflator | -0.4% | 4% |
| Unemployment | 4.1% | 7.9% |
| Economic Freedom Index | 53.3 | 71.9 |
| Personal Freedom Index | 6.83 | 8.65 |
| Human Freedom Index | 5.97 | 8.16 |
| Property Rights Index | 41.3 | 72.3 |
| Judical Effectiveness Index | 48.4 | 51.1 |
| Business Freedom Index | 39.1 | 77 |
| Fiscal Health Index | 67.3 | 96.5 |
| Labor Freedom Index | 61.2 | 72.4 |
| Investment Freedom Index | 30 | 85 |
| Financial Freedom Index | 30 | 60 |
| Trade Freedom Index | 49 | 86.4 |
| Monetary Freedom Index | 82.7 | 80.2 |
| Government Spending Index | 86.7 | 58.3 |
| Tax Burden Index | 88.7 | 76.9 |
| Government Integrity Index | 14.8 | 46.4 |
| Corruption Perceptions Index | 16 | 58 |
| Life expectancy at birth, years | 57.7 | 74.7 |
| Suicide mortality rate, per 100,000 people | 4 | 21.2 |
| Mortality caused by road traffic injury, per 100,000 people | 31.1 | 9.3 |
| Intentional homicides, per 100,000 people | 1.1 | 4.2 |
| International tourism, number of arrivals | 45k | 1.9M |
Government debt & reserves
| Stat | Guinea-Bissau | Latvia |
|---|---|---|
| Central government debt, % of GDP | 56.1% | 37.6% |
| External debt stocks, % of GNI | 28.9% | N/A |
| External debt stocks | $420.7M | N/A |
| Short-term debt, % of total reserves | N/A | N/A |
| Total debt service, % of exports and primary income | 1.9% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | -11% | 6% |
| Gross savings, % of GDP | 8.8% | 22.8% |
| Gross capital formation, % of GDP | 10.9% | 23.5% |
| Total reserves including gold | N/A | $4.4B |
| Foreign direct investment net inflows | $20.6M | $447M |
Exports, imports and economic structure
| Stat | Guinea-Bissau | Latvia |
|---|---|---|
| Exports of goods and services, % of GDP | 25.3% | 61.3% |
| Imports of goods and services, % of GDP | 32.5% | 61.5% |
| Current account balance (balance of payments) | -$54.1M | -$211M |
| Revenue excluding grants, % of GDP | 12.7% | 41.4% |
| Grants excluding technical cooperation, BoP | $80M | $148.1M |
| Personal remittances received | $127.9M | $1.2B |
| Industry including construction value added, % of GDP | 12.6% | 19.5% |
| Agriculture, forestry and fishing value added, % of GDP | 47.5% | 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 GDP | 12.6% | 43% |
| Government Expenditure, % of GDP | 21.1% | 37.3% |
