Gross Domestic Product — Value US$, 2015 prices in Latvia
Latvia: Gross Domestic Product — Value US$, 2015 prices was 31,222 million USD in 2024. ▲ Rising
Gross Domestic Product — Value US$, 2015 prices in Latvia, 1991–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million USD.
Analysis
The most recent figure for gross domestic product — value us$, 2015 prices in Latvia is 31,222 million USD, measured in 2024.
Compared with earlier readings it is down 0.4% on the previous year and up 23.0% over ten years.
Over the whole period, gross domestic product — value us$, 2015 prices in Latvia peaked at 31,361 million USD in 2023 and was at its lowest, 11,490 million USD, in 1993.
Latvia ranks 99th of 203 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 34 years of available data.
Gross Domestic Product — Value US$, 2015 prices in Latvia, year by year
| Year | million USD | Change |
|---|---|---|
| 1991 | 20,719 million USD | — |
| 1992 | 13,496 million USD | -34.9% |
| 1993 | 11,490 million USD | -14.9% |
| 1994 | 11,564 million USD | +0.6% |
| 1995 | 11,584 million USD | +0.2% |
| 1996 | 11,851 million USD | +2.3% |
| 1997 | 12,938 million USD | +9.2% |
| 1998 | 13,785 million USD | +6.5% |
| 1999 | 14,174 million USD | +2.8% |
| 2000 | 15,002 million USD | +5.8% |
| 2001 | 15,971 million USD | +6.5% |
| 2002 | 17,195 million USD | +7.7% |
| 2003 | 18,644 million USD | +8.4% |
| 2004 | 20,271 million USD | +8.7% |
| 2005 | 22,626 million USD | +11.6% |
| 2006 | 25,528 million USD | +12.8% |
| 2007 | 28,186 million USD | +10.4% |
| 2008 | 27,231 million USD | -3.4% |
| 2009 | 22,863 million USD | -16.0% |
| 2010 | 22,026 million USD | -3.7% |
| 2011 | 22,695 million USD | +3.0% |
| 2012 | 24,353 million USD | +7.3% |
| 2013 | 24,863 million USD | +2.1% |
| 2014 | 25,384 million USD | +2.1% |
| 2015 | 26,345 million USD | +3.8% |
| 2016 | 27,017 million USD | +2.6% |
| 2017 | 27,935 million USD | +3.4% |
| 2018 | 29,139 million USD | +4.3% |
| 2019 | 29,336 million USD | +0.7% |
| 2020 | 28,318 million USD | -3.5% |
| 2021 | 30,285 million USD | +6.9% |
| 2022 | 30,834 million USD | +1.8% |
| 2023 | 31,361 million USD | +1.7% |
| 2024 | 31,222 million USD | -0.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 13,511 million USD | 11,490 million USD | 20,719 million USD | 9 |
| 2000s | 21,352 million USD | 15,002 million USD | 28,186 million USD | 10 |
| 2010s | 25,909 million USD | 22,026 million USD | 29,336 million USD | 10 |
| 2020s | 30,404 million USD | 28,318 million USD | 31,361 million USD | 5 |
Countries ranked near Latvia
More economy & growth data for Latvia
- Gross value added at basic prices (GVA) (current LCU), annual growth 5.5 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 0.7694 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 20,244 current LCU per person (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 1.99 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.5567 constant 2015 US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per 14,649 constant 2015 US$ per person (2025)
- Gross value added at basic prices (GVA) (constant LCU), annual growth 1.99 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant LCU), per unit of 0.5771 constant LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (constant LCU), per capita 15,184 constant LCU per person (2025)
- GDP (current US$), annual growth rate 10.49 % change on previous year (2025)
Frequently asked questions
- What is gross domestic product — value us$, 2015 prices in Latvia?
- Gross domestic product — value us$, 2015 prices in Latvia was 31,222 million USD in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — value us$, 2015 prices recorded in Latvia?
- The highest recorded value was 31,361 million USD in 2023.
- What is the lowest gross domestic product — value us$, 2015 prices recorded in Latvia?
- The lowest recorded value was 11,490 million USD in 1993.
- How does Latvia rank for gross domestic product — value us$, 2015 prices?
- Latvia ranks 99th out of 203 countries with data for 2024.
- Is gross domestic product — value us$, 2015 prices rising or falling in Latvia?
- Over the last ten years it is up 23.0%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Value US$, 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).