Gross domestic product (GDP), Current prices, Domestic currency in Latvia
Latvia: Gross domestic product (GDP), Current prices, Domestic currency was 58.97 billion in 2031. ◆ Volatile
Gross domestic product (GDP), Current prices, Domestic currency in Latvia, 1992–2031
Source: International Monetary Fund.
Analysis
The most recent figure for gross domestic product (gdp), current prices, domestic currency in Latvia is 58.97 billion, measured in 2031. That is the highest value across all 40 years on record.
Compared with earlier readings it is up 5.0% on the previous year and up 82.7% over ten years.
Over the whole period, gross domestic product (gdp), current prices, domestic currency in Latvia peaked at 58.97 billion in 2031 and was at its lowest, 1.72 billion, in 1992.
Latvia ranks 23rd of 26 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), Current prices, Domestic currency in Latvia, year by year
| Year | Value | Change |
|---|---|---|
| 1992 | 1.72 billion | — |
| 1993 | 2.51 billion | +46.0% |
| 1994 | 3.49 billion | +39.2% |
| 1995 | 3.93 billion | +12.5% |
| 1996 | 4.54 billion | +15.6% |
| 1997 | 5.25 billion | +15.5% |
| 1998 | 5.85 billion | +11.5% |
| 1999 | 6.10 billion | +4.2% |
| 2000 | 6.70 billion | +9.8% |
| 2001 | 7.32 billion | +9.3% |
| 2002 | 8.14 billion | +11.2% |
| 2003 | 9.14 billion | +12.4% |
| 2004 | 10.63 billion | +16.3% |
| 2005 | 13.10 billion | +23.3% |
| 2006 | 16.29 billion | +24.4% |
| 2007 | 21.51 billion | +32.0% |
| 2008 | 23.35 billion | +8.6% |
| 2009 | 18.48 billion | -20.9% |
| 2010 | 17.72 billion | -4.1% |
| 2011 | 19.12 billion | +7.9% |
| 2012 | 21.10 billion | +10.4% |
| 2013 | 21.96 billion | +4.0% |
| 2014 | 22.79 billion | +3.8% |
| 2015 | 23.74 billion | +4.2% |
| 2016 | 24.50 billion | +3.2% |
| 2017 | 26.02 billion | +6.2% |
| 2018 | 28.15 billion | +8.2% |
| 2019 | 29.57 billion | +5.0% |
| 2020 | 29.22 billion | -1.2% |
| 2021 | 32.28 billion | +10.5% |
| 2022 | 36.09 billion | +11.8% |
| 2023 | 39.56 billion | +9.6% |
| 2024 | 40.65 billion | +2.8% |
| 2025 | 43.03 billion | +5.8% |
| 2026 | 45.53 billion | +5.8% |
| 2027 | 48.23 billion | +5.9% |
| 2028 | 50.97 billion | +5.7% |
| 2029 | 53.54 billion | +5.0% |
| 2030 | 56.18 billion | +4.9% |
| 2031 | 58.97 billion | +5.0% |
Latvia compared with similar countries
- Latvia's 58.97 billion is below the median for high income countries, which is 2.99 trillion, 2% of the median. (13 countries reporting)
- Latvia's 58.97 billion is below the median for Europe & Central Asia, which is 114.87 billion, 51% of the median. (7 countries reporting)
Biggest year-on-year movements
Years where Gross domestic product (GDP), Current prices, Domestic currency 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 |
|---|---|---|---|
| 1993 | +46.0% | 1.72 billion | 2.51 billion |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 4.18 billion | 1.72 billion | 6.10 billion | 8 |
| 2000s | 13.47 billion | 6.70 billion | 23.35 billion | 10 |
| 2010s | 23.47 billion | 17.72 billion | 29.57 billion | 10 |
| 2020s | 41.91 billion | 29.22 billion | 53.54 billion | 10 |
| 2030s | 57.58 billion | 56.18 billion | 58.97 billion | 2 |
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), current prices, domestic currency in Latvia?
- Gross domestic product (gdp), current prices, domestic currency in Latvia was 58.97 billion in 2031, according to International Monetary Fund.
- What is the highest gross domestic product (gdp), current prices, domestic currency recorded in Latvia?
- The highest recorded value was 58.97 billion in 2031.
- What is the lowest gross domestic product (gdp), current prices, domestic currency recorded in Latvia?
- The lowest recorded value was 1.72 billion in 1992.
- How does Latvia rank for gross domestic product (gdp), current prices, domestic currency?
- Latvia ranks 23rd out of 26 countries with data for 2031.
- Is gross domestic product (gdp), current prices, domestic currency rising or falling in Latvia?
- Over the last ten years it is up 82.7%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from International Monetary Fund, published as part of Gross domestic product (GDP), Current prices, Domestic currency (9/26/2025). Statizoid updates them automatically from the source API.
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About this data
The World Economic Outlook (WEO) database is created during the biannual WEO exercise, which begins in January and June of each year and results in the April and September/October WEO publication. Selected series from the publication are available in a database format.