The Brazilian team have become the winners of IV International Economics Olympiad (IEO) by winning the first prize in the overall team rating. Canada was awarded the second prize, while the USA ranked third. Andy Wei from Canada demonstrated the best performance among all contestants of the IEO in individual rating. The Latvian team has ranked fourth and has won five silver medals. This year, the IEO was hosted by Latvia and held online from 26 July to 1 August, with the participation of 44 national teams from all over the world.

In individual rating, 15 contestants have won gold medals, 38 contestants became silver medallists, but bronze medals were awarded to 54 students.

The best results in the financial literacy game were achieved by Vítor Alexandre Theodosio de Carvalho Ayres de Camargo from Brazil, Jordi Muradyan from Armenia, Renjie Lu from Australia, Hasan Berk Zengin from Turkey, and Emīls Šmits from Latvia.

The best performance in the economics knowledge test was demonstrated by Andy Wei from Canada, Pranav Gupta from India, Andrew Cheng from Canada, Kinga Wiktoria Gruszka and Szymon Mariusz Florek from Poland.

The Swiss team won the first prize in solving the business situation designed by EY Latvia team. The second prize was awarded to Canada, the third – to the USA. The Swiss team also won the SEB bank Special Award for the most sustainable solution to the given business situation.

The following countries were represented in the IEO by the national teams of five students: Albania, Armenia, Australia, Bangladesh, Belarus, Brazil, Bulgaria, Cambodia, Canada, China, Colombia, Croatia, Ecuador, Ghana, Greece, Hong Kong, India, Indonesia, Iran, Ireland, Kazakhstan, Kyrgyzstan, Latvia, Lebanon, Lithuania, Malaysia, Mexico, Nepal, New Zealand, Nigeria, Poland, Portugal, Romania, Russia, South Korea, Spain, Sri Lanka, Switzerland, Taiwan, Thailand, Turkey, USA, Uzbekistan and Vietnam.

This year, the IEO took place for the fourth time, and the opening and closing ceremonies were hosted by one of Latvia’s leading business event hosts, Edgars Kuzmans. Latvia was represented in the IEO by Andris Dalbiņš and Jēkabs Gritāns (Riga State Gymnasium Nr.1), Valts Vītums-Jaunzems (Engineering High School of Riga Technical University), Roberts Ralfs Vārslavs (Jelgava Spidola Gymnasium) and Emīls Šmits (Eastern Latvia Technology High School).

IEO 2021 was supported by SEB and Latvijas Mobilais Telefons (LMT), with the financial and intellectual input by the National Centre for Education of Latvia, the Bank of Latvia and TietoEVRY.

The video of the Closing Ceremony is available online on the LMT Straume digital platform and the IEO website:, as well as on YouTube and Facebook.