Lithuania vs Latvia development indicators, 2024

Demography and Health

In terms of demography, Lithuania has a birth rate of 7.2 per 1,000 people in 2023, which is slightly lower than Latvia's rate of 7.7. This small difference indicates that Latvia has a slightly more favorable fertility trend. However, Lithuania has a lower death rate of 12.9 compared to Latvia's 14.9, suggesting better overall health outcomes for its population. In their rankings, Lithuania stands at 74th for birth rate and 23rd for death rate, whereas Latvia ranks 70th and 11th, respectively. The life expectancy in Lithuania is 77 years, significantly higher than Latvia’s 75.7, portraying a healthier population. The under-5 mortality rate in Lithuania is 3.4 compared to Latvia’s 3, reflecting relatively similar child health outcomes. Additionally, Lithuania's suicide mortality rate is concerningly high at 22.1 per 100,000 people, ranking it first globally, while Latvia's is lower at 15.2, indicating a critical difference in mental health challenges.

Economy

In economic terms, Lithuania performs better than Latvia across several key metrics. The GDP per capita in Lithuania is $29,386, higher than Latvia's $23,368, reflecting a more prosperous economy. This trend continues with GDP per capita adjusted for purchasing power parity (PPP), where Lithuania scores $54,414 against Latvia’s $43,867. The exports of goods and services make up a substantial 74.1% of Lithuania's GDP compared to 64.6% for Latvia, indicating a more export-oriented economy. The imports also align closely, with Lithuania at 68.9% and Latvia at 67.2%. Lithuania demonstrates better control over inflation, marked at just 0.7%, whereas Latvia's inflation rate is higher at 1.3%. Moreover, Lithuania's higher foreign direct investment inflows at 4.2% of GDP signal a more attractive environment for investors compared to Latvia's 3%.

Trade and Investment

On the trade and investment front, Lithuania's foreign direct investment (FDI) and GDP contributions from trade appear more robust. Lithuania ranks 34th with a net FDI inflow of 4.2% of GDP, while Latvia ranks 60th at 3%. Additionally, Lithuania's current account balance is favorable at 2.5% of GDP, whereas Latvia is at a deficit of -2.1%. This suggests that Lithuania is better positioned concerning its trade surplus and foreign investments, which bodes well for long-term economic stability. High-technology exports in Lithuania also far exceed those of Latvia, standing at $3.7 billion compared to $2.1 billion, showcasing its strength in the tech export sector.

Governance and Institutions

In terms of governance, Lithuania demonstrates stronger control of corruption with a score of 0.8 and ranks 35th, while Latvia follows with a score of 0.7, placing it at 44th. Government effectiveness in Lithuania, rated at 1.1, ranks higher than Latvia's 0.7, indicating better administrative capabilities. Political stability in Lithuania is also superior, with a score of 0.7 versus Latvia's 0.6, ranking 30th and 51st respectively. The rule of law and regulatory quality indices further showcase Lithuania’s advantages, with scores of 1.3 and ranks of 31st and 29th, compared to Latvia's 1 and ranks of 43rd and 39th. However, unemployment rates are fairly similar, with Lithuania at 6.8% and Latvia at 6.5%, indicating comparable labor market conditions.

Infrastructure and Technology

When it comes to infrastructure and technology, Lithuania boasts a higher logistics performance index at 3.5, ranking 16th, compared to Latvia’s 3.3 and 20th rank. Furthermore, the percentage of individuals using the internet is higher in Lithuania at 88.5%, though Latvia leads slightly with 92.2%. These figures suggest that both countries are relatively advanced in terms of technological infrastructure, but Lithuania arguably has a slight edge in logistics performance which is crucial for economic activities.

Environment and Sustainability

In environmental aspects, Latvia leads with a higher renewable energy consumption at 44% compared to Lithuania’s 33.2%. This presents Latvia as more committed to utilizing renewables, which is critical for long-term sustainability. Furthermore, Lithuania's total greenhouse gas emissions per capita stand at 7.2 tons, while Latvia’s are lower at 5.8 tons, indicating a better environmental performance in Latvia regarding emissions. Additionally, Lithuania has a higher percentage of water stress at 1.8, compared to Latvia's 1.1, underscoring more significant pressure on freshwater resources in Lithuania. Both countries exhibit a low prevalence of undernourishment, remaining constant at 2.5% of their populations.