GDP in Latvia
Latvia: GDP was 32.21 billion constant LCU in 2025. ▲ Rising
GDP in Latvia, 1990–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in constant LCU.
Analysis
The most recent figure for gdp in Latvia is 32.21 billion constant LCU, measured in 2025. That is the highest value across all 36 years on record.
The figure is up 2.1% on the previous year and up 18.5% over ten years.
Over the whole period, gdp in Latvia peaked at 32.21 billion constant LCU in 2025 and was at its lowest, 11.81 billion constant LCU, in 1993.
That places Latvia 156th out of 215 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 LCU | Change |
|---|---|---|
| 1990 | 20.95 billion constant LCU | — |
| 1991 | 18.31 billion constant LCU | -12.6% |
| 1992 | 12.43 billion constant LCU | -32.1% |
| 1993 | 11.81 billion constant LCU | -5.0% |
| 1994 | 12.07 billion constant LCU | +2.2% |
| 1995 | 11.96 billion constant LCU | -0.9% |
| 1996 | 12.23 billion constant LCU | +2.3% |
| 1997 | 13.35 billion constant LCU | +9.2% |
| 1998 | 14.23 billion constant LCU | +6.6% |
| 1999 | 14.63 billion constant LCU | +2.8% |
| 2000 | 15.48 billion constant LCU | +5.8% |
| 2001 | 16.48 billion constant LCU | +6.5% |
| 2002 | 17.75 billion constant LCU | +7.7% |
| 2003 | 19.24 billion constant LCU | +8.4% |
| 2004 | 20.92 billion constant LCU | +8.7% |
| 2005 | 23.35 billion constant LCU | +11.6% |
| 2006 | 26.34 billion constant LCU | +12.8% |
| 2007 | 29.09 billion constant LCU | +10.4% |
| 2008 | 28.10 billion constant LCU | -3.4% |
| 2009 | 23.59 billion constant LCU | -16.0% |
| 2010 | 22.73 billion constant LCU | -3.7% |
| 2011 | 23.42 billion constant LCU | +3.0% |
| 2012 | 25.13 billion constant LCU | +7.3% |
| 2013 | 25.66 billion constant LCU | +2.1% |
| 2014 | 26.20 billion constant LCU | +2.1% |
| 2015 | 27.19 billion constant LCU | +3.8% |
| 2016 | 27.88 billion constant LCU | +2.6% |
| 2017 | 28.83 billion constant LCU | +3.4% |
| 2018 | 30.07 billion constant LCU | +4.3% |
| 2019 | 30.27 billion constant LCU | +0.7% |
| 2020 | 29.22 billion constant LCU | -3.5% |
| 2021 | 31.25 billion constant LCU | +6.9% |
| 2022 | 31.85 billion constant LCU | +1.9% |
| 2023 | 31.55 billion constant LCU | -0.9% |
| 2024 | 31.54 billion constant LCU | -0.0% |
| 2025 | 32.21 billion constant LCU | +2.1% |
Latvia compared with similar countries
- Latvia's 32.21 billion constant LCU is below the median for high income countries, which is 153.70 billion constant LCU, 21% of the median. (83 countries reporting)
- Latvia's 32.21 billion constant LCU is below the median for Europe & Central Asia, which is 330.26 billion constant LCU, 10% of the median. (56 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 14.20 billion constant LCU | 11.81 billion constant LCU | 20.95 billion constant LCU | 10 |
| 2000s | 22.04 billion constant LCU | 15.48 billion constant LCU | 29.09 billion constant LCU | 10 |
| 2010s | 26.74 billion constant LCU | 22.73 billion constant LCU | 30.27 billion constant LCU | 10 |
| 2020s | 31.27 billion constant LCU | 29.22 billion constant LCU | 32.21 billion constant LCU | 6 |
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 gdp in Latvia?
- Gdp in Latvia was 32.21 billion constant LCU 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 32.21 billion constant LCU in 2025.
- What is the lowest gdp recorded in Latvia?
- The lowest recorded value was 11.81 billion constant LCU in 1993.
- How does Latvia rank for gdp?
- Latvia ranks 156th out of 215 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 LCU). 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 varies by country. This series is expressed in local currency units.