Gross Domestic Product — Value Standard Local Currency in Latvia
Latvia: Gross Domestic Product — Value Standard Local Currency was 39,902 million SLC in 2024. ◆ Volatile
Gross Domestic Product — Value Standard Local Currency in Latvia, 1991–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million SLC.
Analysis
The most recent figure for gross domestic product — value standard local currency in Latvia is 39,902 million SLC, measured in 2024. That is the highest value across all 34 years on record.
The figure is up 2.1% on the previous year and up 75.1% over ten years.
Over the whole period, gross domestic product — value standard local currency in Latvia peaked at 39,902 million SLC in 2024 and was at its lowest, 222.35 million SLC, in 1991.
That places Latvia 167th out of 218 countries with data for 2024, putting it 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 in Latvia, year by year
| Year | million SLC | Change |
|---|---|---|
| 1991 | 222.35 million SLC | — |
| 1992 | 1,559 million SLC | +600.9% |
| 1993 | 2,276 million SLC | +46.0% |
| 1994 | 3,169 million SLC | +39.2% |
| 1995 | 3,932 million SLC | +24.1% |
| 1996 | 4,544 million SLC | +15.6% |
| 1997 | 5,248 million SLC | +15.5% |
| 1998 | 5,853 million SLC | +11.5% |
| 1999 | 6,098 million SLC | +4.2% |
| 2000 | 6,698 million SLC | +9.8% |
| 2001 | 7,318 million SLC | +9.3% |
| 2002 | 8,135 million SLC | +11.2% |
| 2003 | 9,143 million SLC | +12.4% |
| 2004 | 10,629 million SLC | +16.3% |
| 2005 | 13,103 million SLC | +23.3% |
| 2006 | 16,295 million SLC | +24.4% |
| 2007 | 21,509 million SLC | +32.0% |
| 2008 | 23,352 million SLC | +8.6% |
| 2009 | 18,482 million SLC | -20.9% |
| 2010 | 17,720 million SLC | -4.1% |
| 2011 | 19,117 million SLC | +7.9% |
| 2012 | 21,104 million SLC | +10.4% |
| 2013 | 21,956 million SLC | +4.0% |
| 2014 | 22,790 million SLC | +3.8% |
| 2015 | 23,744 million SLC | +4.2% |
| 2016 | 24,498 million SLC | +3.2% |
| 2017 | 26,017 million SLC | +6.2% |
| 2018 | 28,153 million SLC | +8.2% |
| 2019 | 29,567 million SLC | +5.0% |
| 2020 | 29,224 million SLC | -1.2% |
| 2021 | 32,285 million SLC | +10.5% |
| 2022 | 36,104 million SLC | +11.8% |
| 2023 | 39,072 million SLC | +8.2% |
| 2024 | 39,902 million SLC | +2.1% |
Latvia compared with similar countries
- Latvia's 39,902 million SLC is below the median for high income countries, which is 257,567 million SLC, 15% of the median. (72 countries reporting)
- Latvia's 39,902 million SLC is below the median for Europe & Central Asia, which is 507,692 million SLC, 8% of the median. (52 countries reporting)
Biggest year-on-year movements
Years where Gross Domestic Product — Value Standard Local 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 |
|---|---|---|---|
| 1992 | +600.9% | 222.35 million SLC | 1,559 million SLC |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 3,656 million SLC | 222.35 million SLC | 6,098 million SLC | 9 |
| 2000s | 13,466 million SLC | 6,698 million SLC | 23,352 million SLC | 10 |
| 2010s | 23,467 million SLC | 17,720 million SLC | 29,567 million SLC | 10 |
| 2020s | 35,318 million SLC | 29,224 million SLC | 39,902 million SLC | 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 — value standard local currency in Latvia?
- Gross domestic product — value standard local currency in Latvia was 39,902 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 recorded in Latvia?
- The highest recorded value was 39,902 million SLC in 2024.
- What is the lowest gross domestic product — value standard local currency recorded in Latvia?
- The lowest recorded value was 222.35 million SLC in 1991.
- How does Latvia rank for gross domestic product — value standard local currency?
- Latvia ranks 167th out of 218 countries with data for 2024.
- Is gross domestic product — value standard local currency rising or falling in Latvia?
- Over the last ten years it is up 75.1%. The long-run trend across the full record is volatile.
- 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. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 34 observations, free to reuse under CC BY-NC-SA 3.0 IGO (FAO).
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).