Latvia
A simple multiplier is used to convert the national currencies of EMU members to euros. The following irrevocable euro conversion rate entered into force on January 1, 2014: 1 euro = 0.702804 Latvian lats. Please note that historical data are not actual euros and are not comparable or suitable for aggregation across countries. Based on data from EUROSTAT, the new reference year is 2010.
Global Rank (2023)
#94 / 205
Top 46% of global economies
Composite Score (2023)
59.3 / 100
Living Standard (2023)
$16,229
Subscore: 68.73 / 100
CPI Inflation (2023)
8.94%
Stability Score: 70.31 / 100
4-Pillar Structural Health Diagnostic (2023)
Harmonized subscores evaluating Output, Productivity, Inflation Stability, and External Buffer
Raw: $16,229 (2015 USD)
Raw: 8.94% (Anchor: 3.0%)
Raw: -3.89% of GDP
Raw: $42.8B Current USD
Optimal Component Weights & Peak Rank Frontier (2023)
Productivity & Living Standards DrivenWhat we are doing here: We simulate an automated mathematical simplex across all 286 valid permutations of weights for the 4 pillars (summing to 100%) against every competing sovereign country in 2023. This discovers which weighting system maximizes Latvia's global competitive ranking by accentuating its comparative strengths.
Policy Insight & Strategic Advantage: Latvia dominates on per capita productivity and high output density per citizen.
Under this bespoke weighting, Latvia's composite score climbs to 64 (compared to 59.3 under standard multilateral weighting).
Longitudinal Trajectory & Peer Comparison Sandbox (1960–2025)
Tracking Latvia's multi-decade trajectory overlaid with peer benchmark economies in Year 2023
Cross-Sectional Benchmark Standing in Year 2023
5 economies compared · Ordered by Global Rank| Country | Rank (2023) | Composite Score | GDP per Capita | CPI Inflation | Current Account (% GDP) | Nominal GDP ($) |
|---|---|---|---|---|---|---|
| Germany (DEU) | #16 | 81.1 | $44,369 | 5.95% | 5.50% | $4562.2B |
| United States (USA) | #17 | 80.0 | $65,667 | 4.12% | -3.34% | $27811.5B |
| China (CHN) | #37 | 72.3 | $12,484 | 0.23% | 1.41% | $18270.4B |
| India (IND) | #93 | 59.5 | $2,230 | 5.65% | -0.91% | $3500.9B |
| Latvia (LVA) Active | #94 | 59.3 | $16,229 | 8.94% | -3.89% | $42.8B |
Decade-by-Decade Historical Milestones (1970–2023)
Visualizing seminal macroeconomic shifts, shocks, and structural transitions for Latvia