Gross domestic product (GDP) at current market prices by NUTS 2 region in Latvia
Latvia: Gross domestic product (GDP) at current market prices by NUTS 2 region was 40,359 Million euro in 2024. ▲ Rising
Latest (2024)
40,359 Million euro
Change on year
up 2.0%
World rank
34th
of 45 countries
All-time high
40,359 Million euro
in 2024
All-time low
8,418 Million euro
in 2000
Years of data
25
2000–2024
Gross domestic product (GDP) at current market prices by NUTS 2 region in Latvia, 2000–2024
Source: Eurostat. Measured in Million euro.
Analysis
In 2024, gross domestic product (gdp) at current market prices by nuts 2 region in Latvia stood at 40,359 Million euro. That is the highest value across all 25 years on record.
That represents a change of up 2.0% on the previous year and up 77.1% over ten years.
Over the whole period, gross domestic product (gdp) at current market prices by nuts 2 region in Latvia peaked at 40,359 Million euro in 2024 and was at its lowest, 8,418 Million euro, in 2000.
Latvia ranks 34th of 45 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 25 years of available data.
Gross domestic product (GDP) at current market prices by NUTS 2 region in Latvia, year by year
| Year | Million euro | Change |
|---|---|---|
| 2000 | 8,418 Million euro | — |
| 2001 | 9,182 Million euro | +9.1% |
| 2002 | 9,841 Million euro | +7.2% |
| 2003 | 10,029 Million euro | +1.9% |
| 2004 | 11,230 Million euro | +12.0% |
| 2005 | 13,227 Million euro | +17.8% |
| 2006 | 16,449 Million euro | +24.4% |
| 2007 | 21,592 Million euro | +31.3% |
| 2008 | 23,355 Million euro | +8.2% |
| 2009 | 18,407 Million euro | -21.2% |
| 2010 | 17,572 Million euro | -4.5% |
| 2011 | 19,023 Million euro | +8.3% |
| 2012 | 21,271 Million euro | +11.8% |
| 2013 | 21,997 Million euro | +3.4% |
| 2014 | 22,790 Million euro | +3.6% |
| 2015 | 23,744 Million euro | +4.2% |
| 2016 | 24,498 Million euro | +3.2% |
| 2017 | 26,017 Million euro | +6.2% |
| 2018 | 28,153 Million euro | +8.2% |
| 2019 | 29,567 Million euro | +5.0% |
| 2020 | 29,224 Million euro | -1.2% |
| 2021 | 32,284 Million euro | +10.5% |
| 2022 | 36,089 Million euro | +11.8% |
| 2023 | 39,564 Million euro | +9.6% |
| 2024 | 40,359 Million euro | +2.0% |
Latvia compared with similar countries
- Latvia's 40,359 Million euro is below the median for Europe & Central Asia, which is 282,710 Million euro, 14% of the median. (32 countries reporting)
- Latvia's 40,359 Million euro is below the median for high income countries, which is 320,787 Million euro, 13% of the median. (29 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 14,173 Million euro | 8,418 Million euro | 23,355 Million euro | 10 |
| 2010s | 23,463 Million euro | 17,572 Million euro | 29,567 Million euro | 10 |
| 2020s | 35,504 Million euro | 29,224 Million euro | 40,359 Million euro | 5 |
Countries ranked near Latvia
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) at current market prices by nuts 2 region in Latvia?
- Gross domestic product (gdp) at current market prices by nuts 2 region in Latvia was 40,359 Million euro in 2024, according to Eurostat.
- What is the highest gross domestic product (gdp) at current market prices by nuts 2 region recorded in Latvia?
- The highest recorded value was 40,359 Million euro in 2024.
- What is the lowest gross domestic product (gdp) at current market prices by nuts 2 region recorded in Latvia?
- The lowest recorded value was 8,418 Million euro in 2000.
- How does Latvia rank for gross domestic product (gdp) at current market prices by nuts 2 region?
- Latvia ranks 34th out of 45 countries with data for 2024.
- Is gross domestic product (gdp) at current market prices by nuts 2 region rising or falling in Latvia?
- Over the last ten years it is up 77.1%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from Eurostat, published as part of Gross domestic product (GDP) at current market prices by NUTS 2 region. Statizoid updates them automatically from the source API.
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