Annual GDP growth in Latvia
Latvia: Annual GDP growth was 2.1% in 2025. ◆ Volatile
Annual GDP growth in Latvia, 1993–2025
Source: International Monetary Fund (2026) – with minor processing by Our World in Data. Measured in %.
Analysis
The most recent figure for annual gdp growth in Latvia is 2.1%, measured in 2025.
That represents a change of up 5,878.4% on the previous year and down 43.5% over ten years.
Over the whole period, annual gdp growth in Latvia peaked at 12.8% in 2006 and was at its lowest, -16.0%, in 2009.
That places Latvia 141st out of 196 countries with data for 2025, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Annual GDP growth in Latvia, year by year
| Year | % | Change |
|---|---|---|
| 1993 | -11.4% | — |
| 1994 | 2.2% | -119.3% |
| 1995 | -2.1% | -194.7% |
| 1996 | 2.3% | -210.4% |
| 1997 | 9.2% | +298.7% |
| 1998 | 6.5% | -28.6% |
| 1999 | 2.8% | -57.0% |
| 2000 | 5.8% | +107.3% |
| 2001 | 6.5% | +10.6% |
| 2002 | 7.7% | +18.6% |
| 2003 | 8.4% | +10.0% |
| 2004 | 8.7% | +3.5% |
| 2005 | 11.6% | +33.1% |
| 2006 | 12.8% | +10.4% |
| 2007 | 10.4% | -18.8% |
| 2008 | -3.4% | -132.5% |
| 2009 | -16.0% | +373.3% |
| 2010 | -3.7% | -77.2% |
| 2011 | 3.0% | -182.9% |
| 2012 | 7.3% | +140.6% |
| 2013 | 2.1% | -71.3% |
| 2014 | 2.1% | -0.0% |
| 2015 | 3.8% | +80.6% |
| 2016 | 2.6% | -32.5% |
| 2017 | 3.4% | +33.2% |
| 2018 | 4.3% | +26.8% |
| 2019 | 0.7% | -84.3% |
| 2020 | -3.5% | -613.9% |
| 2021 | 6.9% | -300.1% |
| 2022 | 1.9% | -72.5% |
| 2023 | -0.9% | -149.3% |
| 2024 | -0.0% | -96.1% |
| 2025 | 2.1% | -5878.4% |
Latvia compared with similar countries
- Latvia's 2.1% is below the median for high income countries, which is 2.4%, 89% of the median. (67 countries reporting)
- Latvia's 2.1% is below the median for Europe & Central Asia, which is 2.5%, 84% of the median. (51 countries reporting)
Biggest year-on-year movements
Years where Annual GDP 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 |
|---|---|---|---|
| 2025 | +5878.4% | -0.0% | 2.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.4% | -11.4% | 9.2% | 7 |
| 2000s | 5.3% | -16.0% | 12.8% | 10 |
| 2010s | 2.6% | -3.7% | 7.3% | 10 |
| 2020s | 1.1% | -3.5% | 6.9% | 6 |
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 annual gdp growth in Latvia?
- Annual gdp growth in Latvia was 2.1% in 2025, according to International Monetary Fund (2026) – with minor processing by Our World in Data.
- What is the highest annual gdp growth recorded in Latvia?
- The highest recorded value was 12.8% in 2006.
- What is the lowest annual gdp growth recorded in Latvia?
- The lowest recorded value was -16.0% in 2009.
- How does Latvia rank for annual gdp growth?
- Latvia ranks 141st out of 196 countries with data for 2025.
- Is annual gdp growth rising or falling in Latvia?
- Over the last ten years it is down 43.5%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from International Monetary Fund (2026) – with minor processing by Our World in Data, published as part of Annual GDP growth. Statizoid updates them automatically from the source API.
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About this data
Annual percent change in gross domestic product. This data is adjusted for inflation.