GDP in Latvia
Latvia: GDP was 31.21 billion constant 2015 US$ in 2025. ▲ Rising
GDP in Latvia, 1990–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in constant 2015 US$.
Analysis
In 2025, gdp in Latvia stood at 31.21 billion constant 2015 US$. That is the highest value across all 36 years on record.
Compared with earlier readings it is up 2.1% on the previous year and up 18.5% over ten years.
Over the whole period, gdp in Latvia peaked at 31.21 billion constant 2015 US$ in 2025 and was at its lowest, 11.44 billion constant 2015 US$, in 1993.
That places Latvia 105th out of 212 countries with data for 2025, putting it in the middle of the range.
The long-run direction has been consistently rising across the 36 years of available data.
GDP in Latvia, year by year
| Year | constant 2015 US$ | Change |
|---|---|---|
| 1990 | 20.30 billion constant 2015 US$ | — |
| 1991 | 17.74 billion constant 2015 US$ | -12.6% |
| 1992 | 12.04 billion constant 2015 US$ | -32.1% |
| 1993 | 11.44 billion constant 2015 US$ | -5.0% |
| 1994 | 11.70 billion constant 2015 US$ | +2.2% |
| 1995 | 11.58 billion constant 2015 US$ | -0.9% |
| 1996 | 11.85 billion constant 2015 US$ | +2.3% |
| 1997 | 12.94 billion constant 2015 US$ | +9.2% |
| 1998 | 13.79 billion constant 2015 US$ | +6.5% |
| 1999 | 14.17 billion constant 2015 US$ | +2.8% |
| 2000 | 15.00 billion constant 2015 US$ | +5.8% |
| 2001 | 15.97 billion constant 2015 US$ | +6.5% |
| 2002 | 17.20 billion constant 2015 US$ | +7.7% |
| 2003 | 18.64 billion constant 2015 US$ | +8.4% |
| 2004 | 20.27 billion constant 2015 US$ | +8.7% |
| 2005 | 22.63 billion constant 2015 US$ | +11.6% |
| 2006 | 25.53 billion constant 2015 US$ | +12.8% |
| 2007 | 28.19 billion constant 2015 US$ | +10.4% |
| 2008 | 27.23 billion constant 2015 US$ | -3.4% |
| 2009 | 22.86 billion constant 2015 US$ | -16.0% |
| 2010 | 22.03 billion constant 2015 US$ | -3.7% |
| 2011 | 22.69 billion constant 2015 US$ | +3.0% |
| 2012 | 24.35 billion constant 2015 US$ | +7.3% |
| 2013 | 24.86 billion constant 2015 US$ | +2.1% |
| 2014 | 25.38 billion constant 2015 US$ | +2.1% |
| 2015 | 26.34 billion constant 2015 US$ | +3.8% |
| 2016 | 27.02 billion constant 2015 US$ | +2.6% |
| 2017 | 27.94 billion constant 2015 US$ | +3.4% |
| 2018 | 29.14 billion constant 2015 US$ | +4.3% |
| 2019 | 29.34 billion constant 2015 US$ | +0.7% |
| 2020 | 28.32 billion constant 2015 US$ | -3.5% |
| 2021 | 30.28 billion constant 2015 US$ | +6.9% |
| 2022 | 30.86 billion constant 2015 US$ | +1.9% |
| 2023 | 30.57 billion constant 2015 US$ | -0.9% |
| 2024 | 30.56 billion constant 2015 US$ | -0.0% |
| 2025 | 31.21 billion constant 2015 US$ | +2.1% |
Latvia compared with similar countries
- Latvia's 31.21 billion constant 2015 US$ is below the median for high income countries, which is 76.03 billion constant 2015 US$, 41% of the median. (80 countries reporting)
- Latvia's 31.21 billion constant 2015 US$ is below the median for Europe & Central Asia, which is 70.96 billion constant 2015 US$, 44% of the median. (55 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 13.76 billion constant 2015 US$ | 11.44 billion constant 2015 US$ | 20.30 billion constant 2015 US$ | 10 |
| 2000s | 21.35 billion constant 2015 US$ | 15.00 billion constant 2015 US$ | 28.19 billion constant 2015 US$ | 10 |
| 2010s | 25.91 billion constant 2015 US$ | 22.03 billion constant 2015 US$ | 29.34 billion constant 2015 US$ | 10 |
| 2020s | 30.30 billion constant 2015 US$ | 28.32 billion constant 2015 US$ | 31.21 billion constant 2015 US$ | 6 |
Countries ranked near Latvia
- 102 Cyprus 33.08 billion constant 2015 US$ compare
- 103 Guyana 32.76 billion constant 2015 US$ compare
- 104 Lebanon 31.30 billion constant 2015 US$ compare
- 106 El Salvador 30.14 billion constant 2015 US$ compare
- 107 Sudan 30.07 billion constant 2015 US$ compare
- 108 Senegal 29.96 billion constant 2015 US$ compare
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 gdp in Latvia?
- Gdp in Latvia was 31.21 billion constant 2015 US$ in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gdp recorded in Latvia?
- The highest recorded value was 31.21 billion constant 2015 US$ in 2025.
- What is the lowest gdp recorded in Latvia?
- The lowest recorded value was 11.44 billion constant 2015 US$ in 1993.
- How does Latvia rank for gdp?
- Latvia ranks 105th out of 212 countries with data for 2025.
- Is gdp rising or falling in Latvia?
- Over the last ten years it is up 18.5%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of GDP (constant 2015 US$). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 36 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.