Latvia vs Rwanda: Economic Indicators Comparison
Gross Domestic Product & Income
| Stat |  Latvia |  Rwanda |
|---|---|---|
| GDP | $34.4B | $9.5B |
| GDP growth, 1 year | 4.8% | 8.6% |
| GDP growth, 5-years average | 3.3% | 7.4% |
| Population | 1.9M | 12.2M |
| GDP per capita | $18k | $773 |
| GDP per capita growth | 5.47% | 5.77% |
| Purchasing Power Parity conversion factor | 0.5 | 295.65 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.59 | 0.34 |
| GDP per capita, PPP adjusted | $30k | $2.3k |
| GNI, Atlas method | $31.8B | $9.6B |
| GNI per capita | $17k | $780 |
| GNI, PPP adjusted | $57.4B | $27.1B |
| GNI per capita, PPP adjusted | $30k | $2.2k |
Financial system and Human development
| Stat | Latvia | Rwanda |
|---|---|---|
| Income Tax Rate | 31.4% | 30% |
| Corporate Tax Rate | 20% | 30% |
| Inflation, consumer prices | 2.6% | 1.4% |
| Inflation, GDP deflator | 4% | -0.8% |
| Unemployment | 7.9% | 1% |
| Economic Freedom Index | 71.9 | 70.9 |
| Personal Freedom Index | 8.65 | 7.34 |
| Human Freedom Index | 8.16 | 7 |
| Property Rights Index | 72.3 | 76.5 |
| Judical Effectiveness Index | 51.1 | 78.3 |
| Business Freedom Index | 77 | 60.3 |
| Fiscal Health Index | 96.5 | 86.7 |
| Labor Freedom Index | 72.4 | 81.8 |
| Investment Freedom Index | 85 | 60 |
| Financial Freedom Index | 60 | 40 |
| Trade Freedom Index | 86.4 | 70.4 |
| Monetary Freedom Index | 80.2 | 79.8 |
| Government Spending Index | 58.3 | 79.8 |
| Tax Burden Index | 76.9 | 79.2 |
| Government Integrity Index | 46.4 | 57.6 |
| Corruption Perceptions Index | 58 | 56 |
| Life expectancy at birth, years | 74.7 | 68.3 |
| Suicide mortality rate, per 100,000 people | 21.2 | 6.7 |
| Mortality caused by road traffic injury, per 100,000 people | 9.3 | 29.7 |
| Intentional homicides, per 100,000 people | 4.2 | 2.5 |
| International tourism, number of arrivals | 1.9M | 932k |
Government debt & reserves
| Stat | Latvia | Rwanda |
|---|---|---|
| Central government debt, % of GDP | 37.6% | 40.7% |
| External debt stocks, % of GNI | N/A | 58% |
| External debt stocks | N/A | $5.4B |
| Short-term debt, % of total reserves | N/A | 8.5% |
| Total debt service, % of exports and primary income | N/A | 12.6% |
| Adjusted net savings including particulate emission damage, % of GNI | 6% | -4.4% |
| Gross savings, % of GDP | 22.8% | 12.4% |
| Gross capital formation, % of GDP | 23.5% | 24.4% |
| Total reserves including gold | $4.4B | $1.2B |
| Foreign direct investment net inflows | $447M | $305.5M |
Exports, imports and economic structure
| Stat | Latvia | Rwanda |
|---|---|---|
| Exports of goods and services, % of GDP | 61.3% | 17.4% |
| Imports of goods and services, % of GDP | 61.5% | 34.1% |
| Current account balance (balance of payments) | -$211M | -$746.9M |
| Revenue excluding grants, % of GDP | 41.4% | 20% |
| Grants excluding technical cooperation, BoP | $148.1M | $621.4M |
| Personal remittances received | $1.2B | $260.5M |
| Industry including construction value added, % of GDP | 19.5% | 16.2% |
| Agriculture, forestry and fishing value added, % of GDP | 3.6% | 29% |
| 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% | 18.9% |
| Government Expenditure, % of GDP | 37.3% | 26% |
