Gross domestic product (GDP), Purchasing power parity (PPP) in Latvia
Latvia: Gross domestic product (GDP), Purchasing power parity (PPP) was 0.0368 in 2031. ▼ Falling
Gross domestic product (GDP), Purchasing power parity (PPP) in Latvia, 1992–2031
Source: International Monetary Fund.
Analysis
Latvia recorded 0.0368 for gross domestic product (gdp), purchasing power parity (ppp) in 2031. That is the lowest value across all 40 years on record.
The figure is down 0.7% on the previous year and down 13.7% over ten years.
Over the whole period, gross domestic product (gdp), purchasing power parity (ppp) in Latvia peaked at 0.0591 in 2007 and was at its lowest, 0.0368, in 2031.
That places Latvia 22nd out of 26 countries with data for 2031, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 40 years of available data.
Gross domestic product (GDP), Purchasing power parity (PPP) in Latvia, year by year
| Year | Value | Change |
|---|---|---|
| 1992 | 0.0476 | — |
| 1993 | 0.0414 | -13.0% |
| 1994 | 0.0412 | -0.6% |
| 1995 | 0.0389 | -5.5% |
| 1996 | 0.0383 | -1.4% |
| 1997 | 0.0402 | +4.9% |
| 1998 | 0.0418 | +3.8% |
| 1999 | 0.0415 | -0.6% |
| 2000 | 0.0418 | +0.7% |
| 2001 | 0.0434 | +3.9% |
| 2002 | 0.0455 | +4.8% |
| 2003 | 0.0476 | +4.6% |
| 2004 | 0.0492 | +3.4% |
| 2005 | 0.0525 | +6.7% |
| 2006 | 0.0563 | +7.3% |
| 2007 | 0.0591 | +4.9% |
| 2008 | 0.0555 | -6.0% |
| 2009 | 0.0469 | -15.5% |
| 2010 | 0.043 | -8.4% |
| 2011 | 0.0427 | -0.8% |
| 2012 | 0.0444 | +4.0% |
| 2013 | 0.0438 | -1.2% |
| 2014 | 0.0433 | -1.3% |
| 2015 | 0.0434 | +0.4% |
| 2016 | 0.0432 | -0.6% |
| 2017 | 0.043 | -0.4% |
| 2018 | 0.0433 | +0.6% |
| 2019 | 0.0438 | +1.2% |
| 2020 | 0.0444 | +1.2% |
| 2021 | 0.0427 | -3.7% |
| 2022 | 0.042 | -1.7% |
| 2023 | 0.0403 | -4.1% |
| 2024 | 0.039 | -3.3% |
| 2025 | 0.0385 | -1.2% |
| 2026 | 0.0382 | -0.7% |
| 2027 | 0.0379 | -0.8% |
| 2028 | 0.0376 | -0.8% |
| 2029 | 0.0373 | -0.7% |
| 2030 | 0.0371 | -0.7% |
| 2031 | 0.0368 | -0.7% |
Latvia compared with similar countries
- Latvia's 0.0368 is below the median for high income countries, which is 0.4819, 8% of the median. (13 countries reporting)
- Latvia's 0.0368 is below the median for Europe & Central Asia, which is 0.0768, 48% of the median. (7 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.0414 | 0.0383 | 0.0476 | 8 |
| 2000s | 0.0498 | 0.0418 | 0.0591 | 10 |
| 2010s | 0.0434 | 0.0427 | 0.0444 | 10 |
| 2020s | 0.0398 | 0.0373 | 0.0444 | 10 |
| 2030s | 0.037 | 0.0368 | 0.0371 | 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), purchasing power parity (ppp) in Latvia?
- Gross domestic product (gdp), purchasing power parity (ppp) in Latvia was 0.0368 in 2031, according to International Monetary Fund.
- What is the highest gross domestic product (gdp), purchasing power parity (ppp) recorded in Latvia?
- The highest recorded value was 0.0591 in 2007.
- What is the lowest gross domestic product (gdp), purchasing power parity (ppp) recorded in Latvia?
- The lowest recorded value was 0.0368 in 2031.
- How does Latvia rank for gross domestic product (gdp), purchasing power parity (ppp)?
- Latvia ranks 22nd out of 26 countries with data for 2031.
- Is gross domestic product (gdp), purchasing power parity (ppp) rising or falling in Latvia?
- Over the last ten years it is down 13.7%. The long-run trend across the full record is falling.
- Where does this Latvia data come from?
- The figures come from International Monetary Fund, published as part of Gross domestic product (GDP), Purchasing power parity (PPP) international dollar, percent of world GDP, Percent, ICP benchmarks 2017-2021 (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.