Israel vs Latvia: Economic Indicators Comparison

Israel with a GDP of $370.6B ranked the 34th largest economy in the world, while Latvia ranked 100th with $34.4B. By GDP 5-years average growth and GDP per capita, Israel and Latvia ranked 73rd vs 74th and 26th vs 51st, respectively.

Gross Domestic Product & Income

Stat	Israel	Latvia
GDP	$370.6B	$34.4B
GDP growth, 1 year	3.3%	4.8%
GDP growth, 5-years average	3.4%	3.3%
Population	9.1M	1.9M
GDP per capita	$42k	$18k
GDP per capita growth	1.47%	5.47%
Purchasing Power Parity conversion factor	3.75	0.5
Price level ratio of PPP conversion factor GDP to market exchange rate	1.04	0.59
GDP per capita, PPP adjusted	$38k	$30k
GNI, Atlas method	$363.6B	$31.8B
GNI per capita	$41k	$17k
GNI, PPP adjusted	$354.8B	$57.4B
GNI per capita, PPP adjusted	$40k	$30k

Financial system and Human development

Stat	Israel	Latvia
Income Tax Rate	48%	31.4%
Corporate Tax Rate	23%	20%
Inflation, consumer prices	0.8%	2.6%
Inflation, GDP deflator	1.2%	4%
Unemployment	4%	7.9%
Economic Freedom Index	74	71.9
Personal Freedom Index	7.64	8.65
Human Freedom Index	7.41	8.16
Property Rights Index	82.3	72.3
Judical Effectiveness Index	71.8	51.1
Business Freedom Index	72.2	77
Fiscal Health Index	89.2	96.5
Labor Freedom Index	64.4	72.4
Investment Freedom Index	75	85
Financial Freedom Index	70	60
Trade Freedom Index	86.2	86.4
Monetary Freedom Index	84.9	80.2
Government Spending Index	53.5	58.3
Tax Burden Index	61	76.9
Government Integrity Index	77.2	46.4
Corruption Perceptions Index	61	58
Life expectancy at birth, years	82.6	74.7
Suicide mortality rate, per 100,000 people	5.4	21.2
Mortality caused by road traffic injury, per 100,000 people	4.2	9.3
Intentional homicides, per 100,000 people	1.4	4.2
International tourism, number of arrivals	4.1M	1.9M

Government debt & reserves

Stat	Israel	Latvia
Central government debt, % of GDP	59.6%	37.6%
External debt stocks, % of GNI	N/A	N/A
External debt stocks	N/A	N/A
Short-term debt, % of total reserves	N/A	N/A
Total debt service, % of exports and primary income	N/A	N/A
Adjusted net savings including particulate emission damage, % of GNI	15.6%	6%
Gross savings, % of GDP	24.4%	22.8%
Gross capital formation, % of GDP	21.8%	23.5%
Total reserves including gold	$115.3B	$4.4B
Foreign direct investment net inflows	$20.8B	$447M

Exports, imports and economic structure

Stat	Israel	Latvia
Exports of goods and services, % of GDP	29.4%	61.3%
Imports of goods and services, % of GDP	29%	61.5%
Current account balance (balance of payments)	$9.3B	-$211M
Revenue excluding grants, % of GDP	31.8%	41.4%
Grants excluding technical cooperation, BoP	$533.6M	$148.1M
Personal remittances received	$939.6M	$1.2B
Industry including construction value added, % of GDP	19.4%	19.5%
Agriculture, forestry and fishing value added, % of GDP	1.1%	3.6%
Charges for the use of intellectual property, payments BoP	$1.4B	$64.6M
Charges for the use of intellectual property, receipts BoP	$1.3B	$10.6M
Expense, % of GDP	37%	43%
Government Expenditure, % of GDP	39.4%	37.3%