Gross Domestic Product — Value Standard Local Currency, annual growth in Latvia
Latvia: Gross Domestic Product — Value Standard Local Currency, annual growth was 2.12 % change on previous year in 2024. ◆ Volatile
Gross Domestic Product — Value Standard Local Currency, annual growth in Latvia, 1992–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2024, gross domestic product — value standard local currency, annual growth in Latvia stood at 2.12 % change on previous year.
Compared with earlier readings it is down 74.2% on the previous year and down 44.1% over ten years.
Over the whole period, gross domestic product — value standard local currency, annual growth in Latvia peaked at 600.92 % change on previous year in 1992 and was at its lowest, -20.85 % change on previous year, in 2009.
Latvia ranks 205th of 218 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 — Value Standard Local Currency, annual growth in Latvia, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1992 | 600.92 % change on previous year | — |
| 1993 | 46.03 % change on previous year | -92.3% |
| 1994 | 39.24 % change on previous year | -14.8% |
| 1995 | 24.1 % change on previous year | -38.6% |
| 1996 | 15.56 % change on previous year | -35.4% |
| 1997 | 15.49 % change on previous year | -0.5% |
| 1998 | 11.53 % change on previous year | -25.6% |
| 1999 | 4.18 % change on previous year | -63.7% |
| 2000 | 9.84 % change on previous year | +135.2% |
| 2001 | 9.25 % change on previous year | -5.9% |
| 2002 | 11.17 % change on previous year | +20.8% |
| 2003 | 12.38 % change on previous year | +10.8% |
| 2004 | 16.25 % change on previous year | +31.3% |
| 2005 | 23.27 % change on previous year | +43.2% |
| 2006 | 24.36 % change on previous year | +4.7% |
| 2007 | 32 % change on previous year | +31.4% |
| 2008 | 8.57 % change on previous year | -73.2% |
| 2009 | -20.85 % change on previous year | -343.4% |
| 2010 | -4.13 % change on previous year | -80.2% |
| 2011 | 7.89 % change on previous year | -291.1% |
| 2012 | 10.39 % change on previous year | +31.8% |
| 2013 | 4.04 % change on previous year | -61.2% |
| 2014 | 3.8 % change on previous year | -5.9% |
| 2015 | 4.19 % change on previous year | +10.1% |
| 2016 | 3.18 % change on previous year | -24.1% |
| 2017 | 6.2 % change on previous year | +95.3% |
| 2018 | 8.21 % change on previous year | +32.4% |
| 2019 | 5.02 % change on previous year | -38.9% |
| 2020 | -1.16 % change on previous year | -123.1% |
| 2021 | 10.47 % change on previous year | -1003.7% |
| 2022 | 11.83 % change on previous year | +12.9% |
| 2023 | 8.22 % change on previous year | -30.5% |
| 2024 | 2.12 % change on previous year | -74.2% |
Biggest year-on-year movements
Years where Gross Domestic Product — Value Standard Local Currency, annual growth 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 |
|---|---|---|---|
| 2021 | +1003.7% | -1.16 % change on previous year | 10.47 % change on previous year |
| 2009 | -343.4% | 8.57 % change on previous year | -20.85 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 94.63 % change on previous year | 4.18 % change on previous year | 600.92 % change on previous year | 8 |
| 2000s | 12.63 % change on previous year | -20.85 % change on previous year | 32 % change on previous year | 10 |
| 2010s | 4.88 % change on previous year | -4.13 % change on previous year | 10.39 % change on previous year | 10 |
| 2020s | 6.3 % change on previous year | -1.16 % change on previous year | 11.83 % change on previous year | 5 |
Countries ranked near Latvia
- 202 Azerbaijan 2.61 % change on previous year compare
- 203 Congo 2.57 % change on previous year compare
- 204 Qatar 2.34 % change on previous year compare
- 206 Democratic People's Republic of Korea 2 % change on previous year compare
- 207 Guinea-Bissau 1.99 % change on previous year compare
- 208 Brunei 1.9 % change on previous year compare
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 — value standard local currency, annual growth in Latvia?
- Gross domestic product — value standard local currency, annual growth in Latvia was 2.12 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest gross domestic product — value standard local currency, annual growth recorded in Latvia?
- The highest recorded value was 600.92 % change on previous year in 1992.
- What is the lowest gross domestic product — value standard local currency, annual growth recorded in Latvia?
- The lowest recorded value was -20.85 % change on previous year in 2009.
- How does Latvia rank for gross domestic product — value standard local currency, annual growth?
- Latvia ranks 205th out of 218 countries with data for 2024.
- Is gross domestic product — value standard local currency, annual growth rising or falling in Latvia?
- Over the last ten years it is down 44.1%. 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 — Value Standard Local Currency, annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 33 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 — Value Standard Local Currency. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross Domestic Product — Value Standard Local Currency Food and Agriculture Organization of the United Nations
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 — Value Standard Local Currency. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.