GDP growth in Latvia
Latvia: GDP growth was -0.0461 in 2024. ◆ Volatile
Latest (2024)
-0.0461
Change on year
up 95.1%
World rank
64th
of 74 countries
All-time high
12.82
in 2006
All-time low
-32.12
in 1992
Years of data
34
1991–2024
GDP growth in Latvia, 1991–2024
Source: UNICEF.
Analysis
The most recent figure for gdp growth in Latvia is -0.0461, measured in 2024.
Compared with earlier readings it is up 95.1% on the previous year and down 102.2% over ten years.
Over the whole period, gdp growth in Latvia peaked at 12.82 in 2006 and was at its lowest, -32.12, in 1992.
Latvia ranks 64th of 74 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
GDP growth in Latvia, year by year
| Year | Value | Change |
|---|---|---|
| 1991 | -12.6 | — |
| 1992 | -32.12 | +155.0% |
| 1993 | -4.98 | -84.5% |
| 1994 | 2.19 | -143.9% |
| 1995 | -0.9448 | -143.1% |
| 1996 | 2.3 | -343.4% |
| 1997 | 9.17 | +298.8% |
| 1998 | 6.55 | -28.6% |
| 1999 | 2.82 | -57.0% |
| 2000 | 5.84 | +107.2% |
| 2001 | 6.46 | +10.6% |
| 2002 | 7.67 | +18.7% |
| 2003 | 8.43 | +10.0% |
| 2004 | 8.73 | +3.5% |
| 2005 | 11.62 | +33.1% |
| 2006 | 12.82 | +10.4% |
| 2007 | 10.41 | -18.8% |
| 2008 | -3.39 | -132.5% |
| 2009 | -16.04 | +373.3% |
| 2010 | -3.66 | -77.2% |
| 2011 | 3.04 | -182.9% |
| 2012 | 7.31 | +140.6% |
| 2013 | 2.1 | -71.3% |
| 2014 | 2.09 | -0.1% |
| 2015 | 3.78 | +80.6% |
| 2016 | 2.55 | -32.6% |
| 2017 | 3.4 | +33.2% |
| 2018 | 4.31 | +26.8% |
| 2019 | 0.6754 | -84.3% |
| 2020 | -3.47 | -613.7% |
| 2021 | 6.94 | -300.1% |
| 2022 | 1.91 | -72.5% |
| 2023 | -0.9416 | -149.3% |
| 2024 | -0.0461 | -95.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | -3.07 | -32.12 | 9.17 | 9 |
| 2000s | 5.25 | -16.04 | 12.82 | 10 |
| 2010s | 2.56 | -3.66 | 7.31 | 10 |
| 2020s | 0.8788 | -3.47 | 6.94 | 5 |
Countries ranked near Latvia
- 61 San Marino 0.4019 compare
- 62 Luxembourg 0.3586 compare
- 63 Republic of Moldova 0.1031 compare
- 65 Estonia -0.09 compare
- 66 Germany -0.4959 compare
- 67 Austria -0.6591 compare
More economy & growth data for Latvia
- GNI, Atlas method (current US$), annual growth rate 14.91 % change on previous year (2025)
- GNI, Atlas method (current US$), per unit of GDP 0.9492 current US$ per US$ of GDP (2025)
- GNI, Atlas method (current US$), per capita 24,976 current US$ per person (2025)
- GNI (current US$), annual growth rate 12.67 % change on previous year (2025)
- GNI (current US$), per unit of GDP 0.9914 current US$ per US$ of GDP (2025)
- GNI (current US$), per capita 26,086 current US$ per person (2025)
- GNI (current LCU), annual growth rate 7.93 % change on previous year (2025)
- GNI (current LCU), per unit of GDP 0.8773 current LCU per US$ of GDP (2025)
- GNI (current LCU), per capita 23,085 current LCU per person (2025)
- Net primary income (Net income from abroad) (current US$), annual 8.34 % change on previous year (2024)
Frequently asked questions
- What is gdp growth in Latvia?
- Gdp growth in Latvia was -0.0461 in 2024, according to UNICEF.
- What is the highest gdp growth recorded in Latvia?
- The highest recorded value was 12.82 in 2006.
- What is the lowest gdp growth recorded in Latvia?
- The lowest recorded value was -32.12 in 1992.
- How does Latvia rank for gdp growth?
- Latvia ranks 64th out of 74 countries with data for 2024.
- Is gdp growth rising or falling in Latvia?
- Over the last ten years it is down 102.2%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from UNICEF, published as part of GDP growth (annual %). Statizoid updates them automatically from the source API.
Download this data
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