GDP (constant LCU) (UNICEF) in Latvia
Latvia: GDP (constant LCU) (UNICEF) was 31.54 billion in 2024. ▲ Rising
GDP in Latvia, 1990–2024
Source: UNICEF.
Analysis
Latvia recorded 31.54 billion for gdp in 2024.
That represents a change of up 20.4% over ten years.
Over the whole period, gdp in Latvia peaked at 31.85 billion in 2022 and was at its lowest, 11.81 billion, in 1993.
That places Latvia 61st out of 74 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 35 years of available data.
GDP (constant LCU) (UNICEF) in Latvia, year by year
| Year | Value | Change |
|---|---|---|
| 1990 | 20.95 billion | — |
| 1991 | 18.31 billion | -12.6% |
| 1992 | 12.43 billion | -32.1% |
| 1993 | 11.81 billion | -5.0% |
| 1994 | 12.07 billion | +2.2% |
| 1995 | 11.96 billion | -0.9% |
| 1996 | 12.23 billion | +2.3% |
| 1997 | 13.35 billion | +9.2% |
| 1998 | 14.23 billion | +6.6% |
| 1999 | 14.63 billion | +2.8% |
| 2000 | 15.48 billion | +5.8% |
| 2001 | 16.48 billion | +6.5% |
| 2002 | 17.75 billion | +7.7% |
| 2003 | 19.24 billion | +8.4% |
| 2004 | 20.92 billion | +8.7% |
| 2005 | 23.35 billion | +11.6% |
| 2006 | 26.34 billion | +12.8% |
| 2007 | 29.09 billion | +10.4% |
| 2008 | 28.10 billion | -3.4% |
| 2009 | 23.59 billion | -16.0% |
| 2010 | 22.73 billion | -3.7% |
| 2011 | 23.42 billion | +3.0% |
| 2012 | 25.13 billion | +7.3% |
| 2013 | 25.66 billion | +2.1% |
| 2014 | 26.20 billion | +2.1% |
| 2015 | 27.19 billion | +3.8% |
| 2016 | 27.88 billion | +2.6% |
| 2017 | 28.83 billion | +3.4% |
| 2018 | 30.07 billion | +4.3% |
| 2019 | 30.27 billion | +0.7% |
| 2020 | 29.22 billion | -3.5% |
| 2021 | 31.25 billion | +6.9% |
| 2022 | 31.85 billion | +1.9% |
| 2023 | 31.55 billion | -0.9% |
| 2024 | 31.54 billion | -0.0% |
Latvia compared with similar countries
- Latvia's 31.54 billion is below the median for high income countries, which is 445.69 billion, 7% of the median. (42 countries reporting)
- Latvia's 31.54 billion is below the median for Europe & Central Asia, which is 490.93 billion, 6% of the median. (52 countries reporting)
Biggest year-on-year movements
Years where GDP (constant LCU) (UNICEF) in Latvia changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1992 | -32.1% | 18.31 billion | 12.43 billion |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 14.20 billion | 11.81 billion | 20.95 billion | 10 |
| 2000s | 22.04 billion | 15.48 billion | 29.09 billion | 10 |
| 2010s | 26.74 billion | 22.73 billion | 30.27 billion | 10 |
| 2020s | 31.08 billion | 29.22 billion | 31.85 billion | 5 |
Countries ranked near Latvia
More economy & growth data for Latvia
- Real gdp growth, annual growth rate 96.07 % change on previous year (2024)
- SDRs holdings, US dollar, annual growth rate 5.34 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0125 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 327.81 units per person (2025)
- SDRs holdings, SDR, annual growth rate 0.3105 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0091 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 239.37 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -2.79 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0077 units per US$ of GDP (2025)
- IMF holdings of currency, US dollar, per capita 203.25 units per person (2025)
Frequently asked questions
- What is gdp in Latvia?
- Gdp in Latvia was 31.54 billion in 2024, according to UNICEF.
- What is the highest gdp recorded in Latvia?
- The highest recorded value was 31.85 billion in 2022.
- What is the lowest gdp recorded in Latvia?
- The lowest recorded value was 11.81 billion in 1993.
- How does Latvia rank for gdp?
- Latvia ranks 61st out of 74 countries with data for 2024.
- Is gdp rising or falling in Latvia?
- Over the last ten years it is up 20.4%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from UNICEF, published as part of GDP (constant LCU). Statizoid updates them automatically from the source API.
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