Gross domestic product (GDP) in Latvia
Latvia: Gross domestic product (GDP) was 65.02 billion international-$ in 2021 prices in 2023. ▲ Rising
Gross domestic product (GDP) in Latvia, 1990–2023
Source: Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data. Measured in international-$ in 2021 prices.
Analysis
Latvia recorded 65.02 billion international-$ in 2021 prices for gross domestic product (gdp) in 2023. That is the highest value across all 34 years on record.
That represents a change of up 2.4% on the previous year and up 32.1% over ten years.
Over the whole period, gross domestic product (gdp) in Latvia peaked at 65.02 billion international-$ in 2021 prices in 2023 and was at its lowest, 26.11 billion international-$ in 2021 prices, in 1995.
Latvia ranks 106th of 184 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 34 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 31.69 billion international-$ in 2021 prices | 26.11 billion international-$ in 2021 prices | 48.74 billion international-$ in 2021 prices | 10 |
| 2000s | 39.95 billion international-$ in 2021 prices | 32.21 billion international-$ in 2021 prices | 48.48 billion international-$ in 2021 prices | 10 |
| 2010s | 52.57 billion international-$ in 2021 prices | 44.16 billion international-$ in 2021 prices | 61.48 billion international-$ in 2021 prices | 10 |
| 2020s | 62.97 billion international-$ in 2021 prices | 60.47 billion international-$ in 2021 prices | 65.02 billion international-$ in 2021 prices | 4 |
Countries ranked near Latvia
- 103 El Salvador 70.95 billion international-$ in 2021 prices compare
- 104 Kyrgyzstan 69.96 billion international-$ in 2021 prices compare
- 105 Honduras 68.60 billion international-$ in 2021 prices compare
- 107 Laos 64.50 billion international-$ in 2021 prices compare
- 109 Armenia 61.47 billion international-$ in 2021 prices compare
More economy & growth data for Latvia
- External balance on goods and services as a percent of GDP -4.6% (2025)
- Inflation of consumer prices 3.7% (2025)
- GDP per capita 16,892 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 10.0% (2025)
- Gross domestic product (GDP) 31.21 billion constant 2015 US$ (2025)
- GDP per capita in international and market dollars 16,892 constant 2015 US$ (2025)
- DEC alternative conversion factor 0.885 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) 849.88 million current LCU (2024)
- Net secondary income (Net current transfers from abroad) 919.89 million current US$ (2024)
- Taxes less subsidies on products 5.62 billion current LCU (2025)
Frequently asked questions
- What is gross domestic product (gdp) in Latvia?
- Gross domestic product (gdp) in Latvia was 65.02 billion international-$ in 2021 prices in 2023, according to Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data.
- What is the highest gross domestic product (gdp) recorded in Latvia?
- The highest recorded value was 65.02 billion international-$ in 2021 prices in 2023.
- What is the lowest gross domestic product (gdp) recorded in Latvia?
- The lowest recorded value was 26.11 billion international-$ in 2021 prices in 1995.
- How does Latvia rank for gross domestic product (gdp)?
- Latvia ranks 106th out of 184 countries with data for 2023.
- Is gross domestic product (gdp) rising or falling in Latvia?
- Over the last ten years it is up 32.1%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from Feenstra et al. - Penn World Table (2025) – 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.