Croatia vs Latvia development indicators, 2024

Demography and Health

In terms of demographic indicators, Croatia has a birth rate of 8.3 per 1,000 people, slightly higher than Latvia's 7.7, ranking 54th and 70th respectively. However, Croatia also has a lower death rate of 13.3 compared to Latvia's 14.9, placing it better in this aspect at rank 21 versus Latvia's 11. Life expectancy in Croatia stands at 78.5 years, which is higher than Latvia's 75.7 years, ranking 56th against Latvia's 70th. The under-five mortality rate in Croatia is 4.6 per 1,000 live births, while Latvia sees a lower rate of 3, which positively positions it at rank 13 compared to Croatia's rank of 60. The prevalence of undernourishment is equal in both countries at 2.5%. Croatia has experienced net migration of -5,186, contrasting with Latvia's -2,225, which indicates a less favorable trend in population sustainability. Both countries show moderate usage of technology, with individuals using the Internet at 83.2% in Croatia versus 92.2% in Latvia.

Economy

Examining economic indicators, Croatia's GDP per capita is slightly higher at $23,931 compared to Latvia's $23,368, ranking 80th and 83rd respectively. In terms of purchasing power parity (PPP), Croatia fares better with $48,575 versus Latvia's $43,867, ranking 69th compared to Latvia's 89th. On the trade front, Croatia's exports represent 49.8% of GDP, whereas Latvia's are higher at 64.6%, with ranks of 74th and 56th respectively. Croatia's imports, accounting for 52.9% of GDP, are also lower than Latvia's 67.2%. Inflation rates are notably lower in Latvia at 1.3%, compared to 3% in Croatia, reflecting a more stable economic environment in Latvia. Foreign direct investment net inflows as a percentage of GDP are higher in Croatia at 5% compared to 3% for Latvia, but Latvia leads in the current account balance, showing -2.1% against Croatia's -1.1%, indicating stronger external financial stability in Latvia.

Trade and Investment

Latvia demonstrates a more significant emphasis on trade with a higher percentage of exports relative to GDP and lower imports, suggesting a more export-driven economy. Croatia's higher foreign direct investment inflows indicate a growing interest from foreign entities, although it may not be as robust as the Latvian export sector. Latvia’s superior position in high-technology exports, with $2.1 billion against Croatia's $1.7 billion, suggests a stronger capacity for innovation and tech-based economic activities. Patent applications in 2021 show Croatia with 77 compared to Latvia's 104, indicating a healthy innovation environment but a stronger performance in Latvia.

Governance and Institutions

When observing governance indicators, both countries experience moderate levels of government effectiveness at 0.7, though their rankings are identical at 54th and 56th. However, Latvia surpasses Croatia in the control of corruption (0.7 vs 0.2) and regulatory quality (1.2 vs 0.6), showcasing better governance frameworks. The rule of law ranks lower in Croatia at 0.4 compared to Latvia's 1, indicating stronger legal structures in Latvia. The political stability indicator is equal for both at 0.6, suggesting a similar level of stability and absence of terrorism or violence. The unemployment rates are also relatively close, with Croatia at 6.1% and Latvia at 6.5%.

Infrastructure and Technology

In the logistics performance index, which evaluates the quality of trade and transport infrastructure, Croatia scores 3, while Latvia scores slightly higher at 3.3, indicating more efficient transportation systems. Internet connectivity in Latvia is superior at 92.2%, compared to 83.2% in Croatia, reflecting a broader reach and better technology infrastructure in Latvia. Research and development expenditure as a percentage of GDP is higher in Croatia at 1.4% versus Latvia's 0.8%, indicating a stronger focus on technological advancement in Croatia despite lower overall technology usage.

Environment and Sustainability

Regarding renewable energy consumption, Croatia utilizes 34.1% of total final energy consumption, whereas Latvia has a more beneficial 44%. This indicates Latvia’s more aggressive policies towards renewable energy. In terms of greenhouse gas emissions, Croatia emits 6.5 tons CO2e per capita, which is lower than Latvia’s 5.8, showcasing a relatively better environmental performance. Water stress levels, measured as freshwater withdrawal as a percentage of available resources, show Croatia at 1.5% and Latvia at 1.1%, suggesting a better management of water resources in Latvia.