France France vs Latvia Latvia development indicators, 2024

Indicator
France
France, Value
Latvia
Latvia, Value
France
France, Rank
Latvia
Latvia, Rank
France France as % of
Latvia Latvia
Current account balance (% of GDP) 0.392 -2.12 49 73
Exports of goods and services (% of GDP) 33.2 64.6 75 29 51.4 %
Foreign direct investment, net inflows (% of GDP) 1.75 2.96 63 42 59.3 %
GDP per capita (current US$) 46,150 23,368 26 53 197 %
GDP per capita, PPP (current international US$) 61,322 43,867 28 52 140 %
Imports of goods and services (% of GDP) 34 67.2 85 27 50.6 %
Inflation, consumer prices (annual %) 2 1.27 114 132 158 %
Net migration 90,527 -2,225 20 123
Population, total 68,516,699 1,862,441 23 150 3,679 %

Demography and Health

France has a crude birth rate of 9.9 per 1,000 people compared to Latvia's 7.7, indicating a slightly higher population growth rate. On the other hand, the crude death rate in Latvia (14.9 per 1,000 adults) is significantly higher than France's 9.2, contributing to a lesser life expectancy in Latvia at 75.7 years compared to France's 82.9 years. This discrepancy in life expectancy can also be observed in the under-5 mortality rate, where France records 4.3 deaths per 1,000 live births, while Latvia reports a lower death rate of 3. This pattern signifies France's relative advantage in healthcare outcomes.

Economy

France boasts a GDP per capita of $46,150, placing it higher than Latvia's $23,368. When adjusted for purchasing power parity (PPP), France's GDP per capita stands at $61,322 compared to Latvia's $43,867, reflecting a more prosperous economy. Furthermore, with an inflation rate of 2% in France versus Latvia's 1.3%, France is experiencing moderate economic stability. Latvia shows higher foreign direct investment inflows at 3% relative to GDP compared to France's 1.8%, which may reflect a growing confidence in its economy.

Trade and Investment

In terms of trade, France's exports account for 33.2% of its GDP, while Latvia demonstrates a much higher ratio of 64.6%, indicating its strong reliance on trade. Latvia also imports a sizable 67.2% of its GDP worth of goods and services, distinctly higher than France's 34%. This trade dynamic shows Latvia's integration into global markets, while France's trade is less dominant relative to its economy. High-technology exports tell a different story; France leads with $115.3 billion, reflecting a robust technology sector, while Latvia's high-tech exports are only $2.1 billion.

Governance and Institutions

On various governance indicators, France generally scores better than Latvia. France ranks 32nd in control of corruption whereas Latvia ranks 44th. In government effectiveness, France ranks 31st compared to Latvia's 56th position, illustrating stronger institutional capacity. Additionally, France has a better ranking for the rule of law at 34 compared to Latvia's 43. However, both countries face challenges, with political stability showing Latvia at a more favorable score of 0.6 compared to France's 0.3, indicating a relatively stable political environment in Latvia.

Infrastructure and Technology

In infrastructure quality, as measured by the logistics performance index, France is ranked 8th with a score of 3.8, compared to Latvia's 20th ranking with a score of 3.3, showcasing France's superior trade and transport infrastructure. Internet usage is higher in Latvia (92.2% of the population) compared to France (86.8%), suggesting greater digital accessibility in Latvia. This high internet penetration may facilitate economic activities and innovation within Latvia.

Environment and Sustainability

When assessing environmental factors, Latvia stands out with 44% of its total final energy consumption coming from renewable sources, while France lags behind at 16.2%. This marks Latvia as a leader in sustainable energy practices. In terms of greenhouse gas emissions per capita, France emits 5.6 tons of CO2e against Latvia's 5.8 tons, indicating slightly better environmental performance in France. However, Latvia exhibits remarkably better water resource management as reflected in its level of water stress, where just 1.1% of freshwater resources are withdrawn compared to France's 21.6%.