Latvia: Business freedom

* indicates monthly or quarterly data series

Business freedom index (0-100)

 Latest value 78
 Year 2023
 Measure points
 Data availability 1996 - 2023
 Average 75
 Min - Max 70 - 85
 Source The Heritage Foundation
For that indicator, we provide data for Latvia from 1996 to 2023. The average value for Latvia during that period was 75 points with a minimum of 70 points in 1996 and a maximum of 85 points in 1997. The latest value from 2023 is 78 points. For comparison, the world average in 2023 based on 179 countries is 60 points. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Latvia - Business freedom - recent values

Historical chart
Latvia - Business freedom - historical chart - 1996-2023

The Business Freedom index for Latvia from The Heritage Foundation measures the ability to start, operate, and close a business. It reflects the overall burden of regulations and the efficiency of the government of Latvia in the regulatory process.
Definition: The Business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study: Starting a business-procedures (number), time (days), cost (% of income per capita), and minimum capital (% of income per capita); Obtaining a license—procedures (number), time (days), and cost (% of income per capita); Closing a business—time (years), cost (% of estate), and recovery rate (cents on the dollar).

 Related indicators Latest value Reference Measure
 Property rights 87 2023 points
 Freedom from corruption 65 2023 points
 Fiscal freedom 79 2023 points
 Business freedom 78 2023 points
 Labor freedom 63 2023 points
 Monetary freedom 80.10 2023 points
 Trade freedom 79 2023 points
 Investment freedom 85 2023 points
 Financial freedom 60 2023 points
 Economic freedom, overall index 73 2023 index points
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