Latvia - Gross domestic product per capita based on purchasing-power-parity in current prices

34,644 (international dollars) in 2021

In 2021, GDP per capita based on PPP for Latvia was 34,644 international dollars. GDP per capita based on PPP of Latvia increased from 10,840 international dollars in 2002 to 34,644 international dollars in 2021 growing at an average annual rate of 6.53%.

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What is GDP per capita based on PPP?

GDP per capita (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates and divided by total population. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States. A purchasing power parity (PPP) between two countries, A and B, is the ratio of the number of units of country A’s currency needed to purchase in country A the same quantity of a specific good or service as one unit of country B’s currency will purchase in country B. PPPs can be expressed in the currency of either of the countries. In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the U.S. dollar (US$) most commonly used as the base or “numeraire” currency.

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What is Latvia GDP per capita based on PPP?