3 October, 2022 seen 23In 2023 minimum wage is set to increase in all Baltic states. Estonia will have a minimum wage of EUR 725; Latvia - EUR…
I would like to lay out some financial data about Baltic's and Caucasus region.
GDP in Baltic states 2012
- Estonia 21.85 billion USD
- Latvia 28.37 billion USD
- Lithuania 42.25 billion USD
Caucasus GDP 2012
- Armenia 9.91 billion USD
- Azerbaijan 67.2 billion USD
- Georgia 15.83 billion USD
So compared those 6 countries in 2 regions - we see that the richest by GDP is Azerbaijan. But now we should compare each country by GDP per capita
Baltics GDP per capita 2012
- Estonia 16,316 USD
- Latvia 14,00 USD
- Lithuania 14,150 USD
Caucasus GDP per capita 2012
- Armenia 3,370 USD
- Azerbaijan 7,227 USD
- Georgia 3,500 USD
By comparing GDP measures per capita in each country, we can see that richest in those countries by GDP is Estonia.
Lets see which region has the most of GDP in total:
Caucasus GDP total 2012
Armenia + Azerbaijan + Georgia = 92. 94 billion USD in total
Baltic's GDP total 2012
Estonia + Latvia + Lithuania = 92.47 billion USD in total
Who wins? It seems that in 2012 by GDP comparing Baltic states with countries in Caucasus region, the winner is Caucasus, outperforming Baltic's by 47 millions USD.
Which region first will reach mark 100 billion USD, and will it happen in 2013?
Known fact is that more than 50% of Azerbaijan GDP is generated by OIL, my next question would sound like this - Will Armenia and Georgia will catch up Azerbaijan? And when could Azerbaijan possibly reach 100 Billion USD GDP mark separate?
Speaking of Baltic's, since there are none natural source resources, what can we except to see happen there?