Latvia vs Monaco: Economic Indicators Comparison

Latvia with a GDP of $34.4B ranked the 100th largest economy in the world, while Monaco ranked 149th with $7.2B. By GDP per capita, Latvia and Monaco ranked 51st vs 1st, respectively.

Gross Domestic Product & Income

Stat	Latvia	Monaco
GDP	$34.4B	$7.2B
GDP growth, 1 year	4.8%	6.1%
GDP growth, 5-years average	3.3%	N/A
Population	1.9M	39k
GDP per capita	$18k	$186k
GDP per capita growth	5.47%	5.3%
Purchasing Power Parity conversion factor	0.5	N/A
Price level ratio of PPP conversion factor GDP to market exchange rate	0.59	N/A
GDP per capita, PPP adjusted	$30k	$98k
GNI, Atlas method	$31.8B	N/A
GNI per capita	$17k	N/A
GNI, PPP adjusted	$57.4B	N/A
GNI per capita, PPP adjusted	$30k	N/A

Financial system and Human development

Stat	Latvia	Monaco
Income Tax Rate	31.4%	N/A
Corporate Tax Rate	20%	N/A
Inflation, consumer prices	2.6%	N/A
Inflation, GDP deflator	4%	0.8%
Unemployment	7.9%	6.3%
Economic Freedom Index	71.9	83
Personal Freedom Index	8.65	8.7
Human Freedom Index	8.16	8.7
Property Rights Index	72.3	N/A
Judical Effectiveness Index	51.1	N/A
Business Freedom Index	77	N/A
Fiscal Health Index	96.5	N/A
Labor Freedom Index	72.4	N/A
Investment Freedom Index	85	N/A
Financial Freedom Index	60	N/A
Trade Freedom Index	86.4	N/A
Monetary Freedom Index	80.2	N/A
Government Spending Index	58.3	N/A
Tax Burden Index	76.9	N/A
Government Integrity Index	46.4	N/A
Corruption Perceptions Index	58	82
Life expectancy at birth, years	74.7	89.7
Suicide mortality rate, per 100,000 people	21.2	0.2
Mortality caused by road traffic injury, per 100,000 people	9.3	0
Intentional homicides, per 100,000 people	4.2	0
International tourism, number of arrivals	1.9M	347k

Government debt & reserves

Stat	Latvia	Monaco
Central government debt, % of GDP	37.6%	N/A
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	6%	N/A
Gross savings, % of GDP	22.8%	N/A
Gross capital formation, % of GDP	23.5%	N/A
Total reserves including gold	$4.4B	N/A
Foreign direct investment net inflows	$447M	N/A

Exports, imports and economic structure

Stat	Latvia	Monaco
Exports of goods and services, % of GDP	61.3%	N/A
Imports of goods and services, % of GDP	61.5%	N/A
Current account balance (balance of payments)	-$211M	N/A
Revenue excluding grants, % of GDP	41.4%	N/A
Grants excluding technical cooperation, BoP	$148.1M	N/A
Personal remittances received	$1.2B	N/A
Industry including construction value added, % of GDP	19.5%	13.1%
Agriculture, forestry and fishing value added, % of GDP	3.6%	N/A
Charges for the use of intellectual property, payments BoP	$64.6M	N/A
Charges for the use of intellectual property, receipts BoP	$10.6M	N/A
Expense, % of GDP	43%	N/A
Government Expenditure, % of GDP	37.3%	N/A