Latvia
Panama
Outsourcing rates by profession ($/hour)
Average blended rates for senior-level specialists in each country.
| Profession | Latvia | Panama |
|---|---|---|
| Business Analyst | 85 | 71 |
| Project Manager | 78 | 72 |
| Scrum Master | 74 | 69 |
| Graphic Designer | 74 | 68 |
| DevOps | 81 | 81 |
| Lead Developer | 89 | 82 |
| Junior Developer | 47 | 52 |
| Intermediate Developer | 61 | 66 |
| Senior Developer | 81 | 79 |
| Junior QA (Manual) | 39 | 46 |
| Intermediate QA (Manual) | 50 | 58 |
| Senior QA (Manual) | 55 | 68 |
| Junior QA (Automated) | 45 | 50 |
| Intermediate QA (Automated) | 54 | 66 |
| Senior QA (Automated) | 70 | 76 |
General information
| Latvia | Panama | |
|---|---|---|
| Currency | LVL | PAB and USD |
| GDP growth% | 4.1 | 15.3 |
| Population | 1.884 million (2021) | 4.351 million (2021) |
| Time zone | GMT+2 | GMT-5 |
| Region | The Baltics | Latin America |
Scorecard
160 country assessments, drawn up on the basis of macroeconomic, financial and political data, are made freely available.
Regularly updated, they provide an estimate of the average credit risk on a country’s businesses. This is an invaluable tool, giving an indication of a country’s potential influence on businesses’ financial commitments.
Our analyses use a eight-level ranking. In ascending order of risk, these are
Source linkcoface.com/Economic-Studies-and-Country-RisksICT Infrastructure82/55
Innovation37/26
English Proficiency80/40
STEM Graduates19/15
Cybersecurity97/34
Software outsourcing readiness
Latvia
Mobile and Web Apps
E-government Portals
FintechE-commerce
Panama
Web Design
Mobile Applications
StartupsFintech
Economic overview
| Latvia | Panama | |
|---|---|---|
| Political Stability | 0.70 | 0.30 |
| Democracy status | 7.31 | 6.85 |
| Business climate | Very good | Acceptable |
| Risk assessment | High | Higher |
Figures are indicative and compiled from public indices. See our disclosure for methodology and sources.
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