Gross Domestic Product — Value US$ in Latvia
Latvia: Gross Domestic Product — Value US$ was 43,189 million USD in 2024. ◆ Volatile
Gross Domestic Product — Value US$ in Latvia, 1991–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million USD.
Analysis
In 2024, gross domestic product — value us$ in Latvia stood at 43,189 million USD. That is the highest value across all 34 years on record.
The figure is up 2.2% on the previous year and up 42.6% over ten years.
Over the whole period, gross domestic product — value us$ in Latvia peaked at 43,189 million USD in 2024 and was at its lowest, 4,983 million USD, in 1993.
That places Latvia 97th out of 203 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Value US$ in Latvia, year by year
| Year | million USD | Change |
|---|---|---|
| 1991 | 8,581 million USD | — |
| 1992 | 5,717 million USD | -33.4% |
| 1993 | 4,983 million USD | -12.9% |
| 1994 | 5,122 million USD | +2.8% |
| 1995 | 5,239 million USD | +2.3% |
| 1996 | 5,799 million USD | +10.7% |
| 1997 | 6,350 million USD | +9.5% |
| 1998 | 6,974 million USD | +9.8% |
| 1999 | 7,324 million USD | +5.0% |
| 2000 | 7,762 million USD | +6.0% |
| 2001 | 8,190 million USD | +5.5% |
| 2002 | 9,249 million USD | +12.9% |
| 2003 | 11,244 million USD | +21.6% |
| 2004 | 13,827 million USD | +23.0% |
| 2005 | 16,306 million USD | +17.9% |
| 2006 | 20,435 million USD | +25.3% |
| 2007 | 29,422 million USD | +44.0% |
| 2008 | 34,133 million USD | +16.0% |
| 2009 | 25,694 million USD | -24.7% |
| 2010 | 23,476 million USD | -8.6% |
| 2011 | 26,805 million USD | +14.2% |
| 2012 | 27,122 million USD | +1.2% |
| 2013 | 29,148 million USD | +7.5% |
| 2014 | 30,277 million USD | +3.9% |
| 2015 | 26,345 million USD | -13.0% |
| 2016 | 27,117 million USD | +2.9% |
| 2017 | 29,391 million USD | +8.4% |
| 2018 | 33,248 million USD | +13.1% |
| 2019 | 33,100 million USD | -0.4% |
| 2020 | 33,380 million USD | +0.8% |
| 2021 | 38,185 million USD | +14.4% |
| 2022 | 38,019 million USD | -0.4% |
| 2023 | 42,248 million USD | +11.1% |
| 2024 | 43,189 million USD | +2.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 6,232 million USD | 4,983 million USD | 8,581 million USD | 9 |
| 2000s | 17,626 million USD | 7,762 million USD | 34,133 million USD | 10 |
| 2010s | 28,603 million USD | 23,476 million USD | 33,248 million USD | 10 |
| 2020s | 39,004 million USD | 33,380 million USD | 43,189 million USD | 5 |
Countries ranked near Latvia
More economy & growth data for Latvia
- Net primary income (Net income from abroad) (current LCU), annual 8.43 % change on previous year (2024)
- Taxes less subsidies on products (current US$), annual growth rate 12.94 % change on previous year (2025)
- Taxes less subsidies on products (current US$), per unit of GDP 0.1306 current US$ per US$ of GDP (2025)
- Taxes less subsidies on products (current US$), per capita 3,437 current US$ per person (2025)
- Taxes less subsidies on products (current LCU), annual growth rate 8.19 % change on previous year (2025)
- Taxes less subsidies on products (current LCU), per unit of GDP 0.1156 current LCU per US$ of GDP (2025)
- Taxes less subsidies on products (current LCU), per capita 3,041 current LCU per person (2025)
- Special drawing rights per domestic currency (End-of-period (EoP)) 1.26 (2013)
- Domestic currency per Special drawing rights (End-of-period (EoP)) 0.7931 (2013)
- Domestic currency per US dollar (End-of-period (EoP)) 0.515 (2013)
Frequently asked questions
- What is gross domestic product — value us$ in Latvia?
- Gross domestic product — value us$ in Latvia was 43,189 million USD in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — value us$ recorded in Latvia?
- The highest recorded value was 43,189 million USD in 2024.
- What is the lowest gross domestic product — value us$ recorded in Latvia?
- The lowest recorded value was 4,983 million USD in 1993.
- How does Latvia rank for gross domestic product — value us$?
- Latvia ranks 97th out of 203 countries with data for 2024.
- Is gross domestic product — value us$ rising or falling in Latvia?
- Over the last ten years it is up 42.6%. 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 US$. 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).