Laos vs Latvia: Economic Indicators Comparison

Latvia with a GDP of $34.4B ranked the 100th largest economy in the world, while Laos ranked 118th with $18B. By GDP 5-years average growth and GDP per capita, Latvia and Laos ranked 74th vs 11th and 51st vs 140th, respectively.

Gross Domestic Product & Income

Stat	Laos	Latvia
GDP	$18B	$34.4B
GDP growth, 1 year	6.5%	4.8%
GDP growth, 5-years average	7%	3.3%
Population	6.9M	1.9M
GDP per capita	$2.5k	$18k
GDP per capita growth	4.62%	5.47%
Purchasing Power Parity conversion factor	2901.2	0.5
Price level ratio of PPP conversion factor GDP to market exchange rate	0.34	0.59
GDP per capita, PPP adjusted	$7.9k	$30k
GNI, Atlas method	$17.3B	$31.8B
GNI per capita	$2.5k	$17k
GNI, PPP adjusted	$50.1B	$57.4B
GNI per capita, PPP adjusted	$7.1k	$30k

Financial system and Human development

Stat	Laos	Latvia
Income Tax Rate	24%	31.4%
Corporate Tax Rate	24%	20%
Inflation, consumer prices	2%	2.6%
Inflation, GDP deflator	1.9%	4%
Unemployment	0.6%	7.9%
Economic Freedom Index	55.5	71.9
Personal Freedom Index	5.8	8.65
Human Freedom Index	6.2	8.16
Property Rights Index	42.5	72.3
Judical Effectiveness Index	37.3	51.1
Business Freedom Index	54.3	77
Fiscal Health Index	53.3	96.5
Labor Freedom Index	58.6	72.4
Investment Freedom Index	35	85
Financial Freedom Index	20	60
Trade Freedom Index	82	86.4
Monetary Freedom Index	76.8	80.2
Government Spending Index	86.6	58.3
Tax Burden Index	87	76.9
Government Integrity Index	32	46.4
Corruption Perceptions Index	29	58
Life expectancy at birth, years	67.3	74.7
Suicide mortality rate, per 100,000 people	8.6	21.2
Mortality caused by road traffic injury, per 100,000 people	16.6	9.3
Intentional homicides, per 100,000 people	7	4.2
International tourism, number of arrivals	3.8M	1.9M

Government debt & reserves

Stat	Laos	Latvia
Central government debt, % of GDP	63%	37.6%
External debt stocks, % of GNI	90.2%	N/A
External debt stocks	$15.6B	N/A
Short-term debt, % of total reserves	41.2%	N/A
Total debt service, % of exports and primary income	14.6%	N/A
Adjusted net savings including particulate emission damage, % of GNI	-1.2%	6%
Gross savings, % of GDP	17.6%	22.8%
Gross capital formation, % of GDP	29%	23.5%
Total reserves including gold	$980.4M	$4.4B
Foreign direct investment net inflows	$1.3B	$447M

Exports, imports and economic structure

Stat	Laos	Latvia
Exports of goods and services, % of GDP	33.2%	61.3%
Imports of goods and services, % of GDP	41.9%	61.5%
Current account balance (balance of payments)	-$1.4B	-$211M
Revenue excluding grants, % of GDP	N/A	41.4%
Grants excluding technical cooperation, BoP	$337.3M	$148.1M
Personal remittances received	$238.7M	$1.2B
Industry including construction value added, % of GDP	31.5%	19.5%
Agriculture, forestry and fishing value added, % of GDP	15.7%	3.6%
Charges for the use of intellectual property, payments BoP	N/A	$64.6M
Charges for the use of intellectual property, receipts BoP	N/A	$10.6M
Expense, % of GDP	N/A	43%
Government Expenditure, % of GDP	21.1%	37.3%