IMD World Competitiveness Booklet 2021
COMPETITIVENESS TRENDS - OVERALL LATVIA
OVERALL PERFORMANCE (64 countries)
BASIC FACTS Capital Land area (square km '000)
Rank
Riga
2017 2018 2019 2020 2021
65 2020
38
0.876 2020 1.91 2020 33.5 2020 31,490 2020
Exchange Rate (per $)
40
40
40
41
60
Population - market size (millions)
CHALLENGES IN 2021 Economic slowdown and rising unemployment due to the COVID- 19 crisis. • Economic slowdown and rising unemployment due to the COVID-19 crisis. • The effectiveness of the vaccination process and restrictions towards the spread of COVID-19. • Municipal elections and results of the territorial reform. • Smart decisions and investments in Green growth using EU support and stimulus funds. • Increase in social inequality, as well as inequality between regions.
59
Gross Domestic Product (GDP) (US$ billions)
39
GDP (PPP) per capita (US$)
-3.6 2020 0.08 2020 8.40 2020 0.97 2020 2.95 2020 17.9 2019 3.11 2019
22
Real GDP growth (%)
19
Consumer price inflation (%)
47
Unemployment rate (%)
60
Labor force (millions)
24
Current account balance (% of GDP)
62
Direct investment stocks inward ($bn)
University of Latvia Centre for European and Transition Studies, LU CETS Pro ided by: University of Latvia Centre for European and Transition Studies, LU CETS
22
Direct investment flows inward (% of GDP)
COMPETITIVENESS LANDSCAPE
Economic Performance
Government Efficiency
Business Efficiency
Infrastructure
Domestic Economy
International Trade
International Investment Employment Prices
Public Finance
Tax Policy
Institutional Framework Business Legislation
Societal Framework
Productivity & Efficiency Labor Market Finance
Management Practices
Attitudes and Values
Basic Infrastructure
Technological Infrastructure Scientific Infrastructure
Health and Environment Education
16
23
23
24
27
29 32
31
33
36
37
40 42
41
41
45
45
50
56
58
PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (41 countries) 25 2017 2018 2019 2020 2021
POPULATIONS < 20 MILLION (35 countries)
2017 2018 2019 2020 2021
24
24
25
25
25
27
27
27
27
84
IMD WORLD COMPETITIVENESS BOOKLET 2021
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