Italy vs Latvia development indicators, 2024

Demography and Health

Italy has a crude birth rate of 6.4 per 1,000 people, while Latvia’s is slightly higher at 7.7, ranking them 81st and 70th respectively. In terms of crude death rates, Italy stands at 11.2 per 1,000 people, whereas Latvia's death rate is notably higher at 14.9, giving Latvia an 11th rank. Life expectancy in Italy is significantly higher, at 83.7 years compared to Latvia's 75.7 years, placing Italy 2nd globally. The under-five mortality rate in Italy is 2.8 per 1,000 live births, slightly better than Latvia's 3.0, with both countries ranking relatively close for this indicator. Italy's domestic general government health expenditure per capita (PPP) is around 3,708 US dollars against Latvia's 2,032, reflecting Italy's stronger health infrastructure.

Economy

Italy's GDP per capita is notably higher at 40,226 US dollars, while Latvia's stands at 23,368 US dollars, placing them 42nd and 83rd in global rankings respectively. In terms of GDP per capita (PPP), Italy again leads with 60,847 US dollars, as compared to Latvia's 43,867 US dollars, with ranks of 39 and 89. Italy's economic performance is characterized by a lower rate of exports, with only 32.7% of GDP attributed to exports, contrasted with Latvia's considerable 64.6%, ranking them 106th and 56th respectively. Additionally, Latvia benefits from higher net inflows of foreign direct investment at 3% of GDP, compared to Italy's 0.9%, further illustrating Latvia's more favorable investment climate.

Trade and Investment

When evaluating trade, Italy’s exports of goods and services account for 32.7% of GDP, while Latvia excels with 64.6%, suggesting a more export-oriented economy in Latvia. The import figures echo this trend, with Italy at 30.4% of GDP and Latvia significantly higher at 67.2%, indicating a robust trade activity. Furthermore, Latvia's net inflows from foreign direct investment at 3% of GDP also demonstrate a relatively favorable position in attracting investments. Italy lags in this aspect, with only 0.9% of GDP from FDI, reflecting challenges in attracting foreign capital.

Governance and Institutions

In governance, Italy holds a control of corruption score of 0.6, while Latvia slightly edges ahead with 0.7, ranking them 53rd and 44th respectively. Both countries show similar performance in government effectiveness, rated equally at 0.6 for Italy and 0.7 for Latvia. Political stability is moderate for both nations, reflected in their scores of 0.6, ranking 53rd. Regulatory quality indicates a disparity, with Latvia scoring better at 1.2 compared to Italy's 0.6, highlighting challenges in the regulatory environment in Italy. In terms of rule of law, Italy's score of 0.4 is less than Latvia's 1.0, demonstrating a stronger legal framework in Latvia.

Infrastructure and Technology

Italy outperforms Latvia in the logistics performance index, scoring 3.8 against Latvia's 3.3, indicating better quality in trade and transport-related infrastructure. Italy also leads in patent applications with 10,281 compared to Latvia's 104, reflecting a stronger culture of innovation and technological advancement. However, Italy's internet usage is slightly lower at 87% than Latvia’s 92.2%, suggesting improved digital accessibility in Latvia.

Environment and Sustainability

Italy's renewable energy consumption stands at 17.5%, which is considerably lower than Latvia's impressive 44%, showcasing Latvia’s strong commitment to sustainability and renewable energy practices. Both countries have similar levels of undernourishment, each at 2.5%. However, when examining water stress, Italy faces significant challenges, with 29.6% of freshwater resources being withdrawn, compared to Latvia’s minimal 1.1%, indicating Latvia's better management of water resources. In terms of greenhouse gas emissions, Italy's emissions per capita are 6.3 metric tons of CO2e while Latvia's are slightly lower at 5.8 metric tons, showcasing a marginal environmental edge for Latvia.