Latvia vs Tuvalu: Economic Indicators Comparison

Latvia with a GDP of $34.4B ranked the 100th largest economy in the world, while Tuvalu ranked 196th with $42.6M. By GDP per capita, Latvia and Tuvalu ranked 51st vs 124th, respectively.

Gross Domestic Product & Income

Stat	Latvia	Tuvalu
GDP	$34.4B	$42.6M
GDP growth, 1 year	4.8%	2.5%
GDP growth, 5-years average	3.3%	N/A
Population	1.9M	11k
GDP per capita	$18k	$3.7k
GDP per capita growth	5.47%	1.27%
Purchasing Power Parity conversion factor	0.5	1.22
Price level ratio of PPP conversion factor GDP to market exchange rate	0.59	0.91
GDP per capita, PPP adjusted	$30k	$4k
GNI, Atlas method	$31.8B	$62.5M
GNI per capita	$17k	$5.4k
GNI, PPP adjusted	$57.4B	$70.2M
GNI per capita, PPP adjusted	$30k	$6.1k

Financial system and Human development

Stat	Latvia	Tuvalu
Income Tax Rate	31.4%	N/A
Corporate Tax Rate	20%	N/A
Inflation, consumer prices	2.6%	N/A
Inflation, GDP deflator	4%	4.9%
Unemployment	7.9%	8.5%
Economic Freedom Index	71.9	60
Personal Freedom Index	8.65	6.2
Human Freedom Index	8.16	6.1
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	48
Life expectancy at birth, years	74.7	66
Suicide mortality rate, per 100,000 people	21.2	1
Mortality caused by road traffic injury, per 100,000 people	9.3	0.2
Intentional homicides, per 100,000 people	4.2	18.7
International tourism, number of arrivals	1.9M	2.7k

Government debt & reserves

Stat	Latvia	Tuvalu
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	$299k

Exports, imports and economic structure

Stat	Latvia	Tuvalu
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	$6.8M
Revenue excluding grants, % of GDP	41.4%	N/A
Grants excluding technical cooperation, BoP	$148.1M	$9.6M
Personal remittances received	$1.2B	$4M
Industry including construction value added, % of GDP	19.5%	7.3%
Agriculture, forestry and fishing value added, % of GDP	3.6%	16.5%
Charges for the use of intellectual property, payments BoP	$64.6M	N/A
Charges for the use of intellectual property, receipts BoP	$10.6M	$14k
Expense, % of GDP	43%	N/A
Government Expenditure, % of GDP	37.3%	N/A