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Latvia

Overall Rank

Ease of doing business

theboardiQ Economic Relevance Score, ranks Top 100 Sovereign Nations based on 14 parameters and 4 Pillars

National Profile

4 Pillars Global Ranking

Economic Scale & Vitality	Innovation & Enterprise	Human Capital & Living	Structural & Policy
74	49	41	76

14 Core Economic Indicators Global Ranking

Economic Scale & Vitality Global Ranking

GDP Overall Rank	Trade Overall Rank	Employment Overall Rank
93	71	64

Innovation & Enterprise Global Ranking

R&D Overall Rank	F500 Rank	VC Rank
45	36	72

Human & Capital Living Global Ranking

Education Rank	Disposable Income Rank	Cost of Living Rank	Labor Productivity Rank
40	36	56	39

Structural & Policy Global Ranking

Tax Rank	Agri Rank	Manufacturing Rank	Energy Overall Rank
65	87	86	75

GLOBAL ECONOMIC & INNOVATION COMPETITIVENESS

An executive-grade benchmarking index developed by theboardiQ LLC to evaluate and rank the macroeconomic strength, innovation capacity, and structural competitiveness of 50 States in the United States.

Designed for corporate board directors, institutional investors, and policymakers, the index synthesizes raw macroeconomic and institutional data into a standardized 0–100 Composite Score across 4 Strategic Macro Pillars and 14 Underlying Sub-Metrics.

The Executive Dashboard incorporates a boardroom governance matrix mapping strategic mandates, benchmark metrics, director compensation, and critical oversight inquiries across 9 Board Roles/Industry Lens

Indicator Normalization & Scoring

Benchmarking: Raw indicator values are mapped against established global minimum, median, and maximum distribution bounds.
Sub-metric Standardization: Indicators are normalized to relative 0–100 percentile scores (inverting cost/burden metrics where lower is favorable).
Pillar Aggregation: Sub-metric scores are weighted within each domain to generate a 0–100 score for each of the 4 pillars.
Composite Index Calculation:

Composite Score = (0.30 x Pillar 1) + (0.25 x Pillar 2) + (0.25 x Pillar 3) + (0.20 x Pillar 4)

Classification & Benchmarking Output

Global Ranking: Economies are ranked 1 to 100 based on their composite index.
Performance Tiers: Jurisdictions are categorized into distinct comparative cohorts (e.g., Tier 1: Global Frontier, Tier 2: Advanced Competitor).
Primary Pillar Advantage: Identifies each economy's leading structural driver (e.g., Innovation Ecosystem vs. Scale & Vitality) relative to its peer group.

COMPETITIVENESS SWOT

COMPETITIVE

Strengths

Competitive tax regime, high broadband connectivity, wood exports

Weaknesses

Demographic decline, geopolitical border exposure

Opportunities

Green energy transition, Rail Baltica transit integration

Threats

Eastern European border trade loss, regional tensions

METRICS DEEPDIVE

Economic Scale & Vitality

GDP

GDP 2025 Current-Dollar GDP ($ Billions)	GDP 2024 PPP ($ Billions)	GDP Share of Global 100	GDP Overall Rank
$48.6B	$85.25B	0.04%	93

Trade

Trade Surplus / Deficit ($ Billions)	Total Trade Volume ($ Billions)	Exports ($ Billions)	Export %
-$2.23B	$63.07B	$30.42B	0.10%

Imports ($ Billions)	Import %	Trade Overall Rank
$32.65B	0.11%	71

Employment

Unemployment Rate (%)	Employment to Population Ratio	Employment Overall Rank
6.4%	56.5%	64

Innovation & Enterprise

R&D

R&D spend as a % of GDP	Patent Grants	Patent Applications	R&D Overall Rank
0.82%	87	87	45

F500 Representation

F500 HQs	F500 Combined Revenue	F500 Rank
0	0	36

VC Per Capita

VC Raised ($ Billions)	VC Ecosystem Value ($ Billions)	VC Rank
$0.00B	$0.00B	72

Human & Capital Living

Education

Elementary	Lower Secondary	Upper Secondary	Bachelor	Master	Doctoral
99.60%	98.70%	89.20%	33.20%	20.20%	0.70%

Education Attainment Score	School Enrollment	Literacy Rate	Compulsory Education	Education Rank
340.9	1	99.90%	9	40

Disposable Income

Household Disposable Income Per Person (USD, PPP)	Disposable Income Rank
$25,200	36

Cost of Living

COL Index	Rent Index	COL Plus Rent Index	Groceries Index	Restaurant Price Index	Local Purchasing Power Index	COL Rank
51.3	10.7	32.7	48.4	51.2	74.1	56

Labor Productivity

Output per hour (USD PPP)	Output per worker (USD)	Labor Productivity Rank
$48.20	$38,183.19	39

Structural & Policy

Tax

Corporate Tax Rate (%)	Individual Income Tax Rate (%)	Sales Tax Rate (%)	Social Security Rate (%)	Tax Rank
20.0%	31.0%	21.0%	34.1%	65

Agriculture

Agri Gross Receipts ($B)	Cumulative Share (%)	Agri Rank
1.76	99.80%	87

Manufacturing

Manufacturing - Value Added ($ Billions)	Manufacturing Rank
$5.80B	86

Infra & Energy

Per Capita Energy Consump	Oil Consump	Coal Consump	Natural Gas Consump	Hydro Consump
48.2	0.08	0.01	0.04	0.03

Renewable Consumption	Nuclear Consumption	Electricity Consumption	Energy Overall Rank
0.05	0	7.2	75