Ireland Ireland vs Latvia Latvia development indicators, 2024

Indicator
Ireland
Ireland, Value
Latvia
Latvia, Value
Ireland
Ireland, Rank
Latvia
Latvia, Rank
Ireland Ireland as % of
Latvia Latvia
Exports of goods and services (% of GDP) 148 64.6 5 29 228 %
GDP per capita (current US$) 107,316 23,368 3 53 459 %
GDP per capita, PPP (current international US$) 131,175 43,867 3 52 299 %
Imports of goods and services (% of GDP) 105 67.2 7 27 157 %
Inflation, consumer prices (annual %) 2.11 1.27 109 132 167 %
Net migration 39,059 -2,225 28 123
Population, total 5,380,257 1,862,441 120 150 289 %

Demography and Health

In terms of demography, Ireland has a higher birth rate of 10.3 per 1,000 people compared to Latvia's 7.7, ranking 13th globally versus Latvia's 70th position. However, Latvia faces a higher death rate at 14.9 compared to Ireland's 6.6, leading to Latvia ranking 11th for death rate as opposed to Ireland's 80th. Life expectancy at birth also reflects a disparity, with Irish citizens living an average of 82.9 years, while Latvians have a life expectancy of 75.7 years, placing them 12th and 70th respectively. Ireland has a lower under-5 mortality rate at 3.8 per 1,000 live births compared to Latvia's 3, indicating a relatively better healthcare system for infants. Interestingly, both countries have similar rates for prevalence of undernourishment, standing at 2.5%, ranking 3rd globally.

Economy

Ireland showcases a robust economy with a GDP per capita of $107,316, placing it 5th globally, whereas Latvia's GDP per capita stands at $23,368, ranking 83rd. The disparity extends further into high-technology exports, with Ireland exporting $91.4 billion worth, positioning it 11th worldwide, while Latvia lags significantly at $2.1 billion. On inflation, Ireland sees an annual consumer price inflation rate of 2.1%, contrasting with Latvia's 1.3%. There is a notable difference in net migration as well, with Ireland experiencing a net positive migration of 39,059, while Latvia faces a negative net migration of 2,225 individuals. Unemployment rates also reflect better economic health in Ireland, at 4.3%, compared to Latvia’s 6.5%.

Trade and Investment

Ireland's economy is heavily dependent on exports, with exports of goods and services making up 148% of its GDP, ranking it 5th globally. In contrast, Latvia's exports account for 64.6% of its GDP, placing it 56th. Ireland also has a significant share of high-technology exports, while Latvia’s share in this sector is minimal. The import percentage relative to GDP further evidences Ireland's strong trade position, standing at 105% (8th globally) compared to Latvia's 67.2% (50th). This trade landscape depicts Ireland as a competitive player in the global market.

Governance and Institutions

In governance, Ireland scores markedly higher in various indicators compared to Latvia. Control of corruption ranks Ireland 21st with a score of 1.6, while Latvia ranks 44th with a score of 0.7. Similarly, Ireland excels in government effectiveness at 1.6 (14th) versus Latvia's 0.7 (56th). Political stability is another strength for Ireland, ranked 12th with a score of 0.9, while Latvia ranks 51st. Rule of law also favors Ireland with a score of 1.6 (18th), contrasting Latvia's lower score of 1 (43rd). Regulatory quality in Ireland is higher, scoring 1.7 (11th) against Latvia’s 1.2 (39th), indicating a more efficient governance structure in Ireland.

Infrastructure and Technology

In terms of infrastructure and technology, both countries have made strides, but Ireland leads in many areas. The logistics performance index, which rates quality of trade and transport-related infrastructure, shows Ireland at 3.5 (16th) compared to Latvia at 3.3 (20th). The level of internet usage is significant in Ireland, with 96.5% of the population online, whereas Latvia has 92.2%. These figures highlight Ireland’s technological edge and digital connectivity. Furthermore, patent applications indicate a higher level of innovation in Ireland with 75 applications versus Latvia's 104, ranking both countries fairly close.

Environment and Sustainability

When assessing environmental measures, differences become apparent. Latvia leads with around 44% of its total energy consumption derived from renewable sources, ranking 3rd globally, while Ireland's renewable energy consumption is 12.7%, ranking 24th. In terms of greenhouse gas emissions per capita, Ireland generates 10.9 tonnes, significantly higher than Latvia's 5.8 tonnes, reflecting different environmental policies and industry emissions. On water stress levels, Ireland stands out better with 22.2% compared to Latvia's much lower 1.1%. These figures underline varying priorities and strategies concerning sustainability and environmental issues in both countries.