Gross domestic product (GDP) in Latvia
Latvia: Gross domestic product (GDP) was 31.21 billion constant 2015 US$ in 2025. ▲ Rising
Latest (2025)
31.21 billion constant 2015 US$
Change on year
up 2.1%
World rank
105th
of 209 countries
All-time high
31.21 billion constant 2015 US$
in 2025
All-time low
11.44 billion constant 2015 US$
in 1993
Years of data
36
1990–2025
Gross domestic product (GDP) in Latvia, 1990–2025
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – with minor processing by Our World in Data. Measured in constant 2015 US$.
Analysis
The most recent figure for gross domestic product (gdp) in Latvia is 31.21 billion constant 2015 US$, measured in 2025. That is the highest value across all 36 years on record.
Compared with earlier readings it is up 2.1% on the previous year and up 18.5% over ten years.
Over the whole period, gross domestic product (gdp) in Latvia peaked at 31.21 billion constant 2015 US$ in 2025 and was at its lowest, 11.44 billion constant 2015 US$, in 1993.
That places Latvia 105th out of 209 countries with data for 2025, putting it in the middle of the range.
The long-run direction has been consistently rising across the 36 years of available data.
Gross domestic product (GDP) in Latvia, year by year
| Year | constant 2015 US$ | Change |
|---|---|---|
| 1990 | 20.30 billion constant 2015 US$ | — |
| 1991 | 17.74 billion constant 2015 US$ | -12.6% |
| 1992 | 12.04 billion constant 2015 US$ | -32.1% |
| 1993 | 11.44 billion constant 2015 US$ | -5.0% |
| 1994 | 11.70 billion constant 2015 US$ | +2.2% |
| 1995 | 11.58 billion constant 2015 US$ | -0.9% |
| 1996 | 11.85 billion constant 2015 US$ | +2.3% |
| 1997 | 12.94 billion constant 2015 US$ | +9.2% |
| 1998 | 13.79 billion constant 2015 US$ | +6.5% |
| 1999 | 14.17 billion constant 2015 US$ | +2.8% |
| 2000 | 15.00 billion constant 2015 US$ | +5.8% |
| 2001 | 15.97 billion constant 2015 US$ | +6.5% |
| 2002 | 17.20 billion constant 2015 US$ | +7.7% |
| 2003 | 18.64 billion constant 2015 US$ | +8.4% |
| 2004 | 20.27 billion constant 2015 US$ | +8.7% |
| 2005 | 22.63 billion constant 2015 US$ | +11.6% |
| 2006 | 25.53 billion constant 2015 US$ | +12.8% |
| 2007 | 28.19 billion constant 2015 US$ | +10.4% |
| 2008 | 27.23 billion constant 2015 US$ | -3.4% |
| 2009 | 22.86 billion constant 2015 US$ | -16.0% |
| 2010 | 22.03 billion constant 2015 US$ | -3.7% |
| 2011 | 22.69 billion constant 2015 US$ | +3.0% |
| 2012 | 24.35 billion constant 2015 US$ | +7.3% |
| 2013 | 24.86 billion constant 2015 US$ | +2.1% |
| 2014 | 25.38 billion constant 2015 US$ | +2.1% |
| 2015 | 26.34 billion constant 2015 US$ | +3.8% |
| 2016 | 27.02 billion constant 2015 US$ | +2.6% |
| 2017 | 27.94 billion constant 2015 US$ | +3.4% |
| 2018 | 29.14 billion constant 2015 US$ | +4.3% |
| 2019 | 29.34 billion constant 2015 US$ | +0.7% |
| 2020 | 28.32 billion constant 2015 US$ | -3.5% |
| 2021 | 30.28 billion constant 2015 US$ | +6.9% |
| 2022 | 30.86 billion constant 2015 US$ | +1.9% |
| 2023 | 30.57 billion constant 2015 US$ | -0.9% |
| 2024 | 30.56 billion constant 2015 US$ | -0.0% |
| 2025 | 31.21 billion constant 2015 US$ | +2.1% |
Latvia compared with similar countries
- Latvia's 31.21 billion constant 2015 US$ is below the median for high income countries, which is 76.03 billion constant 2015 US$, 41% of the median. (80 countries reporting)
- Latvia's 31.21 billion constant 2015 US$ is below the median for Europe & Central Asia, which is 71.17 billion constant 2015 US$, 44% of the median. (54 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 13.76 billion constant 2015 US$ | 11.44 billion constant 2015 US$ | 20.30 billion constant 2015 US$ | 10 |
| 2000s | 21.35 billion constant 2015 US$ | 15.00 billion constant 2015 US$ | 28.19 billion constant 2015 US$ | 10 |
| 2010s | 25.91 billion constant 2015 US$ | 22.03 billion constant 2015 US$ | 29.34 billion constant 2015 US$ | 10 |
| 2020s | 30.30 billion constant 2015 US$ | 28.32 billion constant 2015 US$ | 31.21 billion constant 2015 US$ | 6 |
Countries ranked near Latvia
- 102 Cyprus 33.08 billion constant 2015 US$ compare
- 103 Guyana 32.76 billion constant 2015 US$ compare
- 104 Lebanon 31.30 billion constant 2015 US$ compare
- 106 El Salvador 30.14 billion constant 2015 US$ compare
- 107 Sudan 30.07 billion constant 2015 US$ compare
- 108 Senegal 29.96 billion constant 2015 US$ 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 31.21 billion constant 2015 US$ in 2025, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – with minor processing by Our World in Data.
- What is the highest gross domestic product (gdp) recorded in Latvia?
- The highest recorded value was 31.21 billion constant 2015 US$ in 2025.
- What is the lowest gross domestic product (gdp) recorded in Latvia?
- The lowest recorded value was 11.44 billion constant 2015 US$ in 1993.
- How does Latvia rank for gross domestic product (gdp)?
- Latvia ranks 105th out of 209 countries with data for 2025.
- Is gross domestic product (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 National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – with minor processing by Our World in Data, published as part of Gross domestic product (GDP). Statizoid updates them automatically from the source API.
Download this data
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About this data
Total economic output of a country or region per year. This data is adjusted by inflation but _does not_ account for differences in living costs between countries.