Gross domestic product (GDP) in Latvia
Latvia: Gross domestic product (GDP) was 51.25 billion international-$ in 2011 prices in 2022. ▲ Rising
Latest (2022)
51.25 billion international-$ in 2011 prices
Change on year
up 2.0%
World rank
109th
of 166 countries
All-time high
51.25 billion international-$ in 2011 prices
in 2022
All-time low
21.60 billion international-$ in 2011 prices
in 1995
Years of data
44
1973–2022
Gross domestic product (GDP) in Latvia, 1973–2022
Source: Bolt and van Zanden – Maddison Project Database 2023 – with major processing by Our World in Data. Measured in international-$ in 2011 prices.
Analysis
Latvia recorded 51.25 billion international-$ in 2011 prices for gross domestic product (gdp) in 2022. That is the highest value across all 44 years on record.
That represents a change of up 2.0% on the previous year and up 26.4% over ten years.
Over the whole period, gross domestic product (gdp) in Latvia peaked at 51.25 billion international-$ in 2011 prices in 2022 and was at its lowest, 21.60 billion international-$ in 2011 prices, in 1995.
That places Latvia 109th out of 166 countries with data for 2022, putting it in the middle of the range.
The long-run direction has been consistently rising across the 44 years of available data.
Gross domestic product (GDP) in Latvia, year by year
| Year | international-$ in 2011 prices | Change |
|---|---|---|
| 1973 | 30.28 billion international-$ in 2011 prices | — |
| 1980 | 34.68 billion international-$ in 2011 prices | +14.5% |
| 1981 | 35.44 billion international-$ in 2011 prices | +2.2% |
| 1982 | 36.22 billion international-$ in 2011 prices | +2.2% |
| 1983 | 36.94 billion international-$ in 2011 prices | +2.0% |
| 1984 | 38.00 billion international-$ in 2011 prices | +2.9% |
| 1985 | 37.20 billion international-$ in 2011 prices | -2.1% |
| 1986 | 38.19 billion international-$ in 2011 prices | +2.7% |
| 1987 | 38.04 billion international-$ in 2011 prices | -0.4% |
| 1988 | 39.63 billion international-$ in 2011 prices | +4.2% |
| 1989 | 41.77 billion international-$ in 2011 prices | +5.4% |
| 1990 | 42.10 billion international-$ in 2011 prices | +0.8% |
| 1991 | 36.52 billion international-$ in 2011 prices | -13.3% |
| 1992 | 24.59 billion international-$ in 2011 prices | -32.7% |
| 1993 | 21.61 billion international-$ in 2011 prices | -12.1% |
| 1994 | 21.91 billion international-$ in 2011 prices | +1.4% |
| 1995 | 21.60 billion international-$ in 2011 prices | -1.4% |
| 1996 | 21.94 billion international-$ in 2011 prices | +1.6% |
| 1997 | 23.73 billion international-$ in 2011 prices | +8.2% |
| 1998 | 25.09 billion international-$ in 2011 prices | +5.7% |
| 1999 | 25.55 billion international-$ in 2011 prices | +1.8% |
| 2000 | 26.73 billion international-$ in 2011 prices | +4.6% |
| 2001 | 28.24 billion international-$ in 2011 prices | +5.7% |
| 2002 | 30.01 billion international-$ in 2011 prices | +6.3% |
| 2003 | 32.30 billion international-$ in 2011 prices | +7.6% |
| 2004 | 34.72 billion international-$ in 2011 prices | +7.5% |
| 2005 | 38.14 billion international-$ in 2011 prices | +9.9% |
| 2006 | 42.36 billion international-$ in 2011 prices | +11.1% |
| 2007 | 46.23 billion international-$ in 2011 prices | +9.1% |
| 2008 | 44.22 billion international-$ in 2011 prices | -4.4% |
| 2009 | 37.59 billion international-$ in 2011 prices | -15.0% |
| 2010 | 35.88 billion international-$ in 2011 prices | -4.5% |
| 2011 | 37.87 billion international-$ in 2011 prices | +5.5% |
| 2012 | 40.54 billion international-$ in 2011 prices | +7.0% |
| 2013 | 41.35 billion international-$ in 2011 prices | +2.0% |
| 2014 | 42.14 billion international-$ in 2011 prices | +1.9% |
| 2015 | 43.77 billion international-$ in 2011 prices | +3.9% |
| 2016 | 44.81 billion international-$ in 2011 prices | +2.4% |
| 2017 | 46.30 billion international-$ in 2011 prices | +3.3% |
| 2018 | 48.14 billion international-$ in 2011 prices | +4.0% |
| 2019 | 49.38 billion international-$ in 2011 prices | +2.6% |
| 2020 | 48.29 billion international-$ in 2011 prices | -2.2% |
| 2021 | 50.26 billion international-$ in 2011 prices | +4.1% |
| 2022 | 51.25 billion international-$ in 2011 prices | +2.0% |
Latvia compared with similar countries
- Latvia's 51.25 billion international-$ in 2011 prices is below the median for high income countries, which is 308.39 billion international-$ in 2011 prices, 17% of the median. (55 countries reporting)
- Latvia's 51.25 billion international-$ in 2011 prices is below the median for Europe & Central Asia, which is 245.02 billion international-$ in 2011 prices, 21% of the median. (48 countries reporting)
Biggest year-on-year movements
Years where Gross domestic product (GDP) 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 | -32.7% | 36.52 billion international-$ in 2011 prices | 24.59 billion international-$ in 2011 prices |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 30.28 billion international-$ in 2011 prices | 30.28 billion international-$ in 2011 prices | 30.28 billion international-$ in 2011 prices | 1 |
| 1980s | 37.61 billion international-$ in 2011 prices | 34.68 billion international-$ in 2011 prices | 41.77 billion international-$ in 2011 prices | 10 |
| 1990s | 26.46 billion international-$ in 2011 prices | 21.60 billion international-$ in 2011 prices | 42.10 billion international-$ in 2011 prices | 10 |
| 2000s | 36.05 billion international-$ in 2011 prices | 26.73 billion international-$ in 2011 prices | 46.23 billion international-$ in 2011 prices | 10 |
| 2010s | 43.02 billion international-$ in 2011 prices | 35.88 billion international-$ in 2011 prices | 49.38 billion international-$ in 2011 prices | 10 |
| 2020s | 49.93 billion international-$ in 2011 prices | 48.29 billion international-$ in 2011 prices | 51.25 billion international-$ in 2011 prices | 3 |
Countries ranked near Latvia
- 106 Afghanistan 53.30 billion international-$ in 2011 prices compare
- 107 Syria 52.35 billion international-$ in 2011 prices compare
- 108 Senegal 51.91 billion international-$ in 2011 prices compare
- 110 Tajikistan 50.54 billion international-$ in 2011 prices compare
- 111 Honduras 49.74 billion international-$ in 2011 prices compare
- 112 Lebanon 48.74 billion international-$ in 2011 prices 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 gross domestic product (gdp) in Latvia?
- Gross domestic product (gdp) in Latvia was 51.25 billion international-$ in 2011 prices in 2022, according to Bolt and van Zanden – Maddison Project Database 2023 – with major processing by Our World in Data.
- What is the highest gross domestic product (gdp) recorded in Latvia?
- The highest recorded value was 51.25 billion international-$ in 2011 prices in 2022.
- What is the lowest gross domestic product (gdp) recorded in Latvia?
- The lowest recorded value was 21.60 billion international-$ in 2011 prices in 1995.
- How does Latvia rank for gross domestic product (gdp)?
- Latvia ranks 109th out of 166 countries with data for 2022.
- Is gross domestic product (gdp) rising or falling in Latvia?
- Over the last ten years it is up 26.4%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from Bolt and van Zanden – Maddison Project Database 2023 – with major processing by Our World in Data, published as part of Gross domestic product (GDP). Statizoid updates them automatically from the source API.
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About this data
Total economic output of a country or region per year. This data is adjusted for inflation and differences in living costs between countries.