Average economic size of farms by standard output, farm type and age in Latvia
Latvia: Average economic size of farms by standard output, farm type and age was 1.78 billion Euro in 2023. ▲ Rising
Latest (2023)
1.78 billion Euro
Change on year
up 31.2%
World rank
32nd
of 40 countries
All-time high
1.78 billion Euro
in 2023
All-time low
597.29 million Euro
in 2007
Years of data
7
2005–2023
Average economic size of farms by standard output, farm type and age in Latvia, 2005–2023
Source: Eurostat. Measured in Euro.
Analysis
The most recent figure for average economic size of farms by standard output, farm type and age in Latvia is 1.78 billion Euro, measured in 2023. That is the highest value across all 7 years on record.
That represents a change of up 31.2% on the previous year and up 79.7% over ten years.
Over the whole period, average economic size of farms by standard output, farm type and age in Latvia peaked at 1.78 billion Euro in 2023 and was at its lowest, 597.29 million Euro, in 2007.
That places Latvia 32nd out of 40 countries with data for 2023, putting it in the bottom quarter.
Average economic size of farms by standard output, farm type and age in Latvia, year by year
| Year | Euro | Change |
|---|---|---|
| 2005 | 604.00 million Euro | — |
| 2007 | 597.29 million Euro | -1.1% |
| 2010 | 796.95 million Euro | +33.4% |
| 2013 | 990.01 million Euro | +24.2% |
| 2016 | 1.22 billion Euro | +23.4% |
| 2020 | 1.36 billion Euro | +11.0% |
| 2023 | 1.78 billion Euro | +31.2% |
Latvia compared with similar countries
- Latvia's 1.78 billion Euro is below the median for Europe & Central Asia, which is 7.96 billion Euro, 22% of the median. (29 countries reporting)
- Latvia's 1.78 billion Euro is below the median for high income countries, which is 7.66 billion Euro, 23% of the median. (30 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 600.65 million Euro | 597.29 million Euro | 604.00 million Euro | 2 |
| 2010s | 1.00 billion Euro | 796.95 million Euro | 1.22 billion Euro | 3 |
| 2020s | 1.57 billion Euro | 1.36 billion Euro | 1.78 billion Euro | 2 |
Countries ranked near Latvia
More economy & growth data for Latvia
- Foreign direct investment, net outflows (BoP, current US$), gaps 317.22 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0065 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 171.67 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 243.70 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -83.9 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.005 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 131.89 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 18.65 % change on previous year (2025)
- Total reserves (includes gold, current US$), per unit of GDP 0.1255 includes gold, current US$ per US$ of GDP (2025)
- Total reserves (includes gold, current US$), per capita 3,301 includes gold, current US$ per person (2025)
Frequently asked questions
- What is average economic size of farms by standard output, farm type and age in Latvia?
- Average economic size of farms by standard output, farm type and age in Latvia was 1.78 billion Euro in 2023, according to Eurostat.
- What is the highest average economic size of farms by standard output, farm type and age recorded in Latvia?
- The highest recorded value was 1.78 billion Euro in 2023.
- What is the lowest average economic size of farms by standard output, farm type and age recorded in Latvia?
- The lowest recorded value was 597.29 million Euro in 2007.
- How does Latvia rank for average economic size of farms by standard output, farm type and age?
- Latvia ranks 32nd out of 40 countries with data for 2023.
- Is average economic size of farms by standard output, farm type and age rising or falling in Latvia?
- Over the last ten years it is up 79.7%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from Eurostat, published as part of Average economic size of farms by standard output, farm type and age of farm manager. Statizoid updates them automatically from the source API.
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