Gross Domestic Product — Value Standard Local Currency, 2015 prices in Latvia
Latvia: Gross Domestic Product — Value Standard Local Currency, 2015 prices was 28,140 million SLC in 2024. ▲ Rising
Gross Domestic Product — Value Standard Local Currency, 2015 prices in Latvia, 1991–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million SLC.
Analysis
Latvia recorded 28,140 million SLC for gross domestic product — value standard local currency, 2015 prices in 2024.
The figure is down 0.4% on the previous year and up 23.0% over ten years.
Over the whole period, gross domestic product — value standard local currency, 2015 prices in Latvia peaked at 28,265 million SLC in 2023 and was at its lowest, 10,356 million SLC, in 1993.
That places Latvia 148th out of 194 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 34 years of available data.
Gross Domestic Product — Value Standard Local Currency, 2015 prices in Latvia, year by year
| Year | million SLC | Change |
|---|---|---|
| 1991 | 18,674 million SLC | — |
| 1992 | 12,164 million SLC | -34.9% |
| 1993 | 10,356 million SLC | -14.9% |
| 1994 | 10,423 million SLC | +0.6% |
| 1995 | 10,441 million SLC | +0.2% |
| 1996 | 10,681 million SLC | +2.3% |
| 1997 | 11,661 million SLC | +9.2% |
| 1998 | 12,425 million SLC | +6.6% |
| 1999 | 12,775 million SLC | +2.8% |
| 2000 | 13,521 million SLC | +5.8% |
| 2001 | 14,394 million SLC | +6.5% |
| 2002 | 15,498 million SLC | +7.7% |
| 2003 | 16,804 million SLC | +8.4% |
| 2004 | 18,270 million SLC | +8.7% |
| 2005 | 20,393 million SLC | +11.6% |
| 2006 | 23,008 million SLC | +12.8% |
| 2007 | 25,404 million SLC | +10.4% |
| 2008 | 24,543 million SLC | -3.4% |
| 2009 | 20,606 million SLC | -16.0% |
| 2010 | 19,852 million SLC | -3.7% |
| 2011 | 20,455 million SLC | +3.0% |
| 2012 | 21,949 million SLC | +7.3% |
| 2013 | 22,409 million SLC | +2.1% |
| 2014 | 22,879 million SLC | +2.1% |
| 2015 | 23,744 million SLC | +3.8% |
| 2016 | 24,350 million SLC | +2.6% |
| 2017 | 25,178 million SLC | +3.4% |
| 2018 | 26,263 million SLC | +4.3% |
| 2019 | 26,440 million SLC | +0.7% |
| 2020 | 25,523 million SLC | -3.5% |
| 2021 | 27,296 million SLC | +6.9% |
| 2022 | 27,791 million SLC | +1.8% |
| 2023 | 28,265 million SLC | +1.7% |
| 2024 | 28,140 million SLC | -0.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 12,178 million SLC | 10,356 million SLC | 18,674 million SLC | 9 |
| 2000s | 19,244 million SLC | 13,521 million SLC | 25,404 million SLC | 10 |
| 2010s | 23,352 million SLC | 19,852 million SLC | 26,440 million SLC | 10 |
| 2020s | 27,403 million SLC | 25,523 million SLC | 28,265 million SLC | 5 |
Countries ranked near Latvia
More economy & growth data for Latvia
- Gross capital formation (constant 2015 US$), annual growth rate 18.33 % change on previous year (2025)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.2098 constant 2015 US$ per US$ of GDP (2025)
- Gross capital formation (constant 2015 US$), per capita 5,519 constant 2015 US$ per person (2025)
- Imports of goods and services (current US$), annual growth rate 11.67 % change on previous year (2025)
- Imports of goods and services (current US$), per unit of GDP 0.6715 current US$ per US$ of GDP (2025)
- Imports of goods and services (current US$), per capita 17,669 current US$ per person (2025)
- Imports of goods and services (current LCU), annual growth rate 6.96 % change on previous year (2025)
- Imports of goods and services (current LCU), per unit of GDP 0.5943 current LCU per US$ of GDP (2025)
- Imports of goods and services (current LCU), per capita 15,636 current LCU per person (2025)
- Imports of goods and services (constant 2015 US$), annual growth rate 5.72 % change on previous year (2025)
Frequently asked questions
- What is gross domestic product — value standard local currency, 2015 prices in Latvia?
- Gross domestic product — value standard local currency, 2015 prices in Latvia was 28,140 million SLC in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — value standard local currency, 2015 prices recorded in Latvia?
- The highest recorded value was 28,265 million SLC in 2023.
- What is the lowest gross domestic product — value standard local currency, 2015 prices recorded in Latvia?
- The lowest recorded value was 10,356 million SLC in 1993.
- How does Latvia rank for gross domestic product — value standard local currency, 2015 prices?
- Latvia ranks 148th out of 194 countries with data for 2024.
- Is gross domestic product — value standard local currency, 2015 prices rising or falling in Latvia?
- Over the last ten years it is up 23.0%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Value Standard Local Currency, 2015 prices. Statizoid updates them automatically from the source API.
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About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).