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Latvia vs Austria Economy: GDP, Tax and Key Indicators 2026

Latvia and Austria: A Side-by-Side EU Economic Analysis

2
Latvia leads
7
Indicators
5
Austria leads
Austria leads overall

Analysis by Eunomist Research Team  •  Updated 2026

Executive Summary

How Does Latvia Compare to Austria? The Key Economic Story

Latvia and Austria represent two distinct economic models within the European Union. With Latvia leading on 2 of 7 measured indicators and Austria ahead on 5, this comparison reveals important structural differences across growth, labour markets, and fiscal policy.

The GDP per capita gap — €21,030 for Latvia versus €52,330 for Austria — tells one part of the story, but the full picture emerges from examining unemployment rates, debt levels, and productivity trends side by side.

For businesses and investors, understanding which country performs better on which dimensions is essential. The data presented here draws on Eurostat indicators across economy, labour, fiscal, and social domains.

Key Numbers

The Most Important Metrics at a Glance

GDP per Capita
€21,030
🇱🇻 Latvia
€52,330
🇦🇹 Austria
Primary measure of living standards and productive output per person.
GDP Growth Rate
-0.9%
🇱🇻 Latvia
-0.8%
🇦🇹 Austria
Annual real economic expansion — the pulse of short-term economic health.
Unemployment Rate
6.5%
🇱🇻 Latvia
5.1%
🇦🇹 Austria
Percentage actively seeking but unable to find work. The EU average benchmark is around 6%.
Government Debt
44.4% GDP
🇱🇻 Latvia
77.8% GDP
🇦🇹 Austria
Total accumulated government debt. The EU's Stability Pact reference target is below 60% of GDP.
Inflation (HICP)
143.4%
🇱🇻 Latvia
130.4%
🇦🇹 Austria
The EU's harmonised measure of consumer price changes. The ECB targets 2% across the eurozone.
Employment Rate
77.5%
🇱🇻 Latvia
77.2%
🇦🇹 Austria
Share of working-age population with a job — higher means more productive capacity being used.
All Indicators

Latvia vs Austria: Full Indicator Comparison

All 7 available EU indicators compared side by side. Green highlights indicate the stronger performer on each metric. Each row includes a one-line interpretation of what the indicator measures.

Economy
Indicator 🇱🇻 Latvia 🇦🇹 Austria Gap
GDP per Capita
Primary measure of living standards and productive output per person.
€21,030 €52,330 €31,300
GDP Growth Rate
Annual real economic expansion — the pulse of short-term economic health.
-0.9% -0.8% 0.1%
Current Account Balance
A surplus means the economy earns more from abroad than it spends — a sign of competitiveness.
-3.8% +1.6% +5.4%
Labour
Indicator 🇱🇻 Latvia 🇦🇹 Austria Gap
Unemployment Rate
Percentage actively seeking but unable to find work. The EU average benchmark is around 6%.
6.5% 5.1% 1.4%
Employment Rate
Share of working-age population with a job — higher means more productive capacity being used.
77.5% 77.2% 0.3%
Prices
Indicator 🇱🇻 Latvia 🇦🇹 Austria Gap
Inflation (HICP)
The EU's harmonised measure of consumer price changes. The ECB targets 2% across the eurozone.
143.4% 130.4% 13.0%
Fiscal
Indicator 🇱🇻 Latvia 🇦🇹 Austria Gap
Government Debt
Total accumulated government debt. The EU's Stability Pact reference target is below 60% of GDP.
44.4% GDP 77.8% GDP 33.4% GDP
Verdict

Choose Latvia or Austria? The Bottom Line

🇱🇻
Choose Latvia if...
  • you prioritise the indicators where it leads — including Government Debt and Employment Rate.
  • its economic structure aligns better with your sector.
  • market size and regional positioning in the EU matter for your strategy.
🇦🇹
Choose Austria if...
  • you prioritise the indicators where it leads — including GDP per Capita and GDP Growth Rate.
  • its fiscal and labour market profile suits your business model.
  • growth trajectory is your primary investment criterion.
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