Gross domestic product (GDP), annual growth rate (Bolt) in Latvia
Latvia: Gross domestic product (GDP), annual growth rate (Bolt) was 1.98 % change on previous year in 2022. ◆ Volatile
Gross domestic product (GDP), annual growth rate in Latvia, 1981–2022
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2022, gross domestic product (gdp), annual growth rate in Latvia stood at 1.98 % change on previous year.
That represents a change of down 51.4% on the previous year and down 71.9% over ten years.
Over the whole period, gross domestic product (gdp), annual growth rate in Latvia peaked at 11.06 % change on previous year in 2006 and was at its lowest, -32.65 % change on previous year, in 1992.
Latvia ranks 135th of 166 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross domestic product (GDP), annual growth rate (Bolt) in Latvia, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1981 | 2.18 % change on previous year | — |
| 1982 | 2.19 % change on previous year | +0.1% |
| 1983 | 2.01 % change on previous year | -8.1% |
| 1984 | 2.85 % change on previous year | +41.9% |
| 1985 | -2.09 % change on previous year | -173.5% |
| 1986 | 2.66 % change on previous year | -226.8% |
| 1987 | -0.3938 % change on previous year | -114.8% |
| 1988 | 4.18 % change on previous year | -1160.6% |
| 1989 | 5.41 % change on previous year | +29.6% |
| 1990 | 0.7852 % change on previous year | -85.5% |
| 1991 | -13.26 % change on previous year | -1788.8% |
| 1992 | -32.65 % change on previous year | +146.2% |
| 1993 | -12.13 % change on previous year | -62.8% |
| 1994 | 1.38 % change on previous year | -111.4% |
| 1995 | -1.4 % change on previous year | -201.3% |
| 1996 | 1.58 % change on previous year | -213.4% |
| 1997 | 8.15 % change on previous year | +414.6% |
| 1998 | 5.71 % change on previous year | -29.9% |
| 1999 | 1.83 % change on previous year | -67.9% |
| 2000 | 4.61 % change on previous year | +151.5% |
| 2001 | 5.67 % change on previous year | +23.0% |
| 2002 | 6.28 % change on previous year | +10.7% |
| 2003 | 7.61 % change on previous year | +21.2% |
| 2004 | 7.5 % change on previous year | -1.4% |
| 2005 | 9.86 % change on previous year | +31.5% |
| 2006 | 11.06 % change on previous year | +12.1% |
| 2007 | 9.13 % change on previous year | -17.4% |
| 2008 | -4.35 % change on previous year | -147.7% |
| 2009 | -14.99 % change on previous year | +244.4% |
| 2010 | -4.55 % change on previous year | -69.7% |
| 2011 | 5.54 % change on previous year | -221.9% |
| 2012 | 7.04 % change on previous year | +27.1% |
| 2013 | 2.01 % change on previous year | -71.5% |
| 2014 | 1.9 % change on previous year | -5.3% |
| 2015 | 3.89 % change on previous year | +104.3% |
| 2016 | 2.37 % change on previous year | -39.0% |
| 2017 | 3.31 % change on previous year | +39.9% |
| 2018 | 3.99 % change on previous year | +20.5% |
| 2019 | 2.57 % change on previous year | -35.6% |
| 2020 | -2.2 % change on previous year | -185.7% |
| 2021 | 4.06 % change on previous year | -284.5% |
| 2022 | 1.98 % change on previous year | -51.4% |
Latvia compared with similar countries
- Latvia's 1.98 % change on previous year is below the median for high income countries, which is 3.67 % change on previous year, 54% of the median. (55 countries reporting)
- Latvia's 1.98 % change on previous year is below the median for Europe & Central Asia, which is 3.71 % change on previous year, 53% of the median. (48 countries reporting)
Biggest year-on-year movements
Years where Gross domestic product (GDP), annual growth rate (Bolt) 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 |
|---|---|---|---|
| 1991 | -1788.8% | 0.7852 % change on previous year | -13.26 % change on previous year |
| 1988 | +1160.6% | -0.3938 % change on previous year | 4.18 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 2.11 % change on previous year | -2.09 % change on previous year | 5.41 % change on previous year | 9 |
| 1990s | -4 % change on previous year | -32.65 % change on previous year | 8.15 % change on previous year | 10 |
| 2000s | 4.24 % change on previous year | -14.99 % change on previous year | 11.06 % change on previous year | 10 |
| 2010s | 2.81 % change on previous year | -4.55 % change on previous year | 7.04 % change on previous year | 10 |
| 2020s | 1.28 % change on previous year | -2.2 % change on previous year | 4.06 % change on previous year | 3 |
Countries ranked near Latvia
- 132 United States 2.06 % change on previous year compare
- 133 Switzerland 2.06 % change on previous year compare
- 134 South Africa 2.04 % change on previous year compare
- 136 Myanmar 1.97 % change on previous year compare
- 137 Lithuania 1.89 % change on previous year compare
- 138 Turkmenistan 1.79 % change on previous year compare
More economy & growth data for Latvia
- SDRs holdings, US dollar, annual growth rate 5.34 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0125 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 327.81 units per person (2025)
- SDRs holdings, SDR, annual growth rate 0.3105 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0091 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 239.37 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -2.79 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0077 units per US$ of GDP (2025)
- IMF holdings of currency, US dollar, per capita 203.25 units per person (2025)
- IMF holdings of currency, SDR, annual growth rate -7.43 % change on previous year (2025)
Frequently asked questions
- What is gross domestic product (gdp), annual growth rate in Latvia?
- Gross domestic product (gdp), annual growth rate in Latvia was 1.98 % change on previous year in 2022, according to Statizoid (derived).
- What is the highest gross domestic product (gdp), annual growth rate recorded in Latvia?
- The highest recorded value was 11.06 % change on previous year in 2006.
- What is the lowest gross domestic product (gdp), annual growth rate recorded in Latvia?
- The lowest recorded value was -32.65 % change on previous year in 1992.
- How does Latvia rank for gross domestic product (gdp), annual growth rate?
- Latvia ranks 135th out of 166 countries with data for 2022.
- Is gross domestic product (gdp), annual growth rate rising or falling in Latvia?
- Over the last ten years it is down 71.9%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from Statizoid (derived), published as part of Gross domestic product (GDP), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 42 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in Gross domestic product (GDP). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross domestic product (GDP) Bolt and van Zanden – Maddison Project Database 2023 – with major processing by Our World in Data
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Gross domestic product (GDP). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.