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🇱🇻 VS 🇸🇪

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

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

1
Latvia leads
7
Indicators
6
Sweden leads
Sweden leads overall

Analysis by Eunomist Research Team  •  Updated 2026

Executive Summary

How Does Latvia Compare to Sweden? The Key Economic Story

Latvia and Sweden represent two distinct economic models within the European Union. With Latvia leading on 1 of 7 measured indicators and Sweden ahead on 6, this comparison reveals important structural differences across growth, labour markets, and fiscal policy.

The GDP per capita gap — €21,030 for Latvia versus €50,490 for Sweden — 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
€50,490
🇸🇪 Sweden
Primary measure of living standards and productive output per person.
GDP Growth Rate
-0.9%
🇱🇻 Latvia
-0.2%
🇸🇪 Sweden
Annual real economic expansion — the pulse of short-term economic health.
Unemployment Rate
6.5%
🇱🇻 Latvia
7.7%
🇸🇪 Sweden
Percentage actively seeking but unable to find work. The EU average benchmark is around 6%.
Government Debt
44.4% GDP
🇱🇻 Latvia
32.0% GDP
🇸🇪 Sweden
Total accumulated government debt. The EU's Stability Pact reference target is below 60% of GDP.
Inflation (HICP)
143.4%
🇱🇻 Latvia
126.4%
🇸🇪 Sweden
The EU's harmonised measure of consumer price changes. The ECB targets 2% across the eurozone.
Employment Rate
77.5%
🇱🇻 Latvia
82.6%
🇸🇪 Sweden
Share of working-age population with a job — higher means more productive capacity being used.
All Indicators

Latvia vs Sweden: 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 🇸🇪 Sweden Gap
GDP per Capita
Primary measure of living standards and productive output per person.
€21,030 €50,490 €29,460
GDP Growth Rate
Annual real economic expansion — the pulse of short-term economic health.
-0.9% -0.2% 0.7%
Current Account Balance
A surplus means the economy earns more from abroad than it spends — a sign of competitiveness.
-3.8% +6.2% +10.0%
Labour
Indicator 🇱🇻 Latvia 🇸🇪 Sweden Gap
Unemployment Rate
Percentage actively seeking but unable to find work. The EU average benchmark is around 6%.
6.5% 7.7% 1.2%
Employment Rate
Share of working-age population with a job — higher means more productive capacity being used.
77.5% 82.6% 5.1%
Prices
Indicator 🇱🇻 Latvia 🇸🇪 Sweden Gap
Inflation (HICP)
The EU's harmonised measure of consumer price changes. The ECB targets 2% across the eurozone.
143.4% 126.4% 16.9%
Fiscal
Indicator 🇱🇻 Latvia 🇸🇪 Sweden Gap
Government Debt
Total accumulated government debt. The EU's Stability Pact reference target is below 60% of GDP.
44.4% GDP 32.0% GDP 12.4% GDP
Verdict

Choose Latvia or Sweden? The Bottom Line

🇱🇻
Choose Latvia if...
  • you prioritise the indicators where it leads — including Unemployment Rate.
  • its economic structure aligns better with your sector.
  • market size and regional positioning in the EU matter for your strategy.
🇸🇪
Choose Sweden 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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