Economic Trivia

Exports contribute nearly a third of GDP.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2019): Lithuania, Estonia, and Germany
Top 3 Exported Goods (2019): Wood, Electrical Machinery, and Industrial Machinery

Top Industries Source: CIA World Factbook

Processed Foods; Processed Wood Products; Textiles; Processed Metals

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $60,886,088,193 (2020)
GDP Growth Rate (annual %) -3.624% (2020)
GDP Per Capita, PPP (current international) $32,019 (2020)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 105/197 (2020)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 0.219% (2020)
External debt stocks, total (DOD, current US$) $38,255,247,000 (2011)
Total tax rate (% of commercial profits) 38.1% (2019)
Real Interest Rate (5 year average %) 18.78% (2016)
Manufacturing, value added (% of GDP) 10.616% (2020)
Current Account Balance (BoP, current US$) $1,004,108,793 (2020)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 982,531 (2020)
Employment in Agriculture (% of total employment) 6.512% (2020)
Employment in Industry (% of total employment) 23.722% (2020)
Employment in Services (% of total employment) 69.766% (2020)
Unemployment Rate 8.19% (2020)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $19,807,706,785 (2020)
Exports of goods and services (current US$) $20,196,217,938 (2020)
Total Merchandise Trade (% of GDP) 102.88% (2020)
FDI, net inflows (BoP, current US$) $1,059,246,101 (2019)
Commercial Service Exports (current US$) $4,989,292,290 (2020)
Click on a row to display its 5-year graph on the right.

Economic Snapshot [1]

Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Latvia’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Sources

  1. The World Bank