Kuwait vs Latvia: Economic Indicators Comparison

Kuwait with a GDP of $140.6B ranked the 58th largest economy in the world, while Latvia ranked 100th with $34.4B. By GDP 5-years average growth and GDP per capita, Kuwait and Latvia ranked 163rd vs 74th and 30th vs 51st, respectively.

Gross Domestic Product & Income

StatKuwaitLatvia
GDP$140.6B$34.4B
GDP growth, 1 year1.7%4.8%
GDP growth, 5-years average0.5%3.3%
Population4.6M1.9M
GDP per capita$34k$18k
GDP per capita growth-0.74%5.47%
Purchasing Power Parity conversion factor0.140.5
Price level ratio of PPP conversion factor GDP to market exchange rate0.470.59
GDP per capita, PPP adjusted$67k$30k
GNI, Atlas method$141.9B$31.8B
GNI per capita$34k$17k
GNI, PPP adjusted$348.6B$57.4B
GNI per capita, PPP adjusted$84k$30k

Financial system and Human development

StatKuwaitLatvia
Income Tax Rate0%31.4%
Corporate Tax Rate15%20%
Inflation, consumer prices0.7%2.6%
Inflation, GDP deflator14.6%4%
Unemployment2.1%7.9%
Economic Freedom Index63.271.9
Personal Freedom Index6.248.65
Human Freedom Index6.68.16
Property Rights Index57.172.3
Judical Effectiveness Index4751.1
Business Freedom Index61.377
Fiscal Health Index99.696.5
Labor Freedom Index62.272.4
Investment Freedom Index5585
Financial Freedom Index6060
Trade Freedom Index76.486.4
Monetary Freedom Index73.280.2
Government Spending Index22.458.3
Tax Burden Index97.776.9
Government Integrity Index4646.4
Corruption Perceptions Index4158
Life expectancy at birth, years75.374.7
Suicide mortality rate, per 100,000 people2.321.2
Mortality caused by road traffic injury, per 100,000 people17.69.3
Intentional homicides, per 100,000 people1.84.2
International tourism, number of arrivals8.5M1.9M

Government debt & reserves

StatKuwaitLatvia
Central government debt, % of GDP14.8%37.6%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI14.6%6%
Gross savings, % of GDP43.2%22.8%
Gross capital formation, % of GDP25.2%23.5%
Total reserves including gold$40.3B$4.4B
Foreign direct investment net inflows-$21.4M$447M

Exports, imports and economic structure

StatKuwaitLatvia
Exports of goods and services, % of GDP56.7%61.3%
Imports of goods and services, % of GDP43.8%61.5%
Current account balance (balance of payments)$24B-$211M
Revenue excluding grants, % of GDP38.6%41.4%
Grants excluding technical cooperation, BoP$1.6M$148.1M
Personal remittances received$27.7M$1.2B
Industry including construction value added, % of GDP59.6%19.5%
Agriculture, forestry and fishing value added, % of GDP0.4%3.6%
Charges for the use of intellectual property, payments BoPN/A$64.6M
Charges for the use of intellectual property, receipts BoPN/A$10.6M
Expense, % of GDP52%43%
Government Expenditure, % of GDP50.9%37.3%

Compare with countries close by GDP per capita

Kuwait vs

CountryGDP
per capita
Population
Netherlands
$53k
17.3M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
33.4k
Germany
$48k
83.1M
Belgium
$48k
11.4M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Bahamas
$32k
395k
Brunei
$32k
429k
South Korea
$31k
51.5M
Spain
$30k
46.7M
Malta
$30k
465k
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

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