Services, value added in Latvia
Latvia: Services, value added was 20.68 billion constant 2015 US$ in 2025. ▲ Rising
Services, value added in Latvia, 1995–2025
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant 2015 US$.
Analysis
In 2025, services, value added in Latvia stood at 20.68 billion constant 2015 US$. That is the highest value across all 31 years on record.
Compared with earlier readings it is up 1.6% on the previous year and up 22.4% over ten years.
Over the whole period, services, value added in Latvia peaked at 20.68 billion constant 2015 US$ in 2025 and was at its lowest, 6.36 billion constant 2015 US$, in 1995.
That places Latvia 97th out of 196 countries with data for 2025, putting it in the middle of the range.
The long-run direction has been consistently rising across the 31 years of available data.
Services, value added in Latvia, year by year
| Year | constant 2015 US$ | Change |
|---|---|---|
| 1995 | 6.36 billion constant 2015 US$ | — |
| 1996 | 6.53 billion constant 2015 US$ | +2.6% |
| 1997 | 7.05 billion constant 2015 US$ | +8.0% |
| 1998 | 7.61 billion constant 2015 US$ | +8.0% |
| 1999 | 8.04 billion constant 2015 US$ | +5.7% |
| 2000 | 8.53 billion constant 2015 US$ | +6.1% |
| 2001 | 9.14 billion constant 2015 US$ | +7.2% |
| 2002 | 9.74 billion constant 2015 US$ | +6.6% |
| 2003 | 10.72 billion constant 2015 US$ | +10.0% |
| 2004 | 11.75 billion constant 2015 US$ | +9.6% |
| 2005 | 13.41 billion constant 2015 US$ | +14.2% |
| 2006 | 15.07 billion constant 2015 US$ | +12.4% |
| 2007 | 16.73 billion constant 2015 US$ | +11.0% |
| 2008 | 16.61 billion constant 2015 US$ | -0.7% |
| 2009 | 14.75 billion constant 2015 US$ | -11.2% |
| 2010 | 14.26 billion constant 2015 US$ | -3.3% |
| 2011 | 14.52 billion constant 2015 US$ | +1.8% |
| 2012 | 15.57 billion constant 2015 US$ | +7.2% |
| 2013 | 15.97 billion constant 2015 US$ | +2.6% |
| 2014 | 16.38 billion constant 2015 US$ | +2.6% |
| 2015 | 16.89 billion constant 2015 US$ | +3.1% |
| 2016 | 17.41 billion constant 2015 US$ | +3.0% |
| 2017 | 17.81 billion constant 2015 US$ | +2.3% |
| 2018 | 18.57 billion constant 2015 US$ | +4.3% |
| 2019 | 18.53 billion constant 2015 US$ | -0.2% |
| 2020 | 17.57 billion constant 2015 US$ | -5.2% |
| 2021 | 19.13 billion constant 2015 US$ | +8.9% |
| 2022 | 20.21 billion constant 2015 US$ | +5.7% |
| 2023 | 20.23 billion constant 2015 US$ | +0.1% |
| 2024 | 20.34 billion constant 2015 US$ | +0.6% |
| 2025 | 20.68 billion constant 2015 US$ | +1.6% |
Latvia compared with similar countries
- Latvia's 20.68 billion constant 2015 US$ is below the median for high income countries, which is 67.86 billion constant 2015 US$, 30% of the median. (69 countries reporting)
- Latvia's 20.68 billion constant 2015 US$ is below the median for Europe & Central Asia, which is 47.31 billion constant 2015 US$, 44% of the median. (53 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 7.12 billion constant 2015 US$ | 6.36 billion constant 2015 US$ | 8.04 billion constant 2015 US$ | 5 |
| 2000s | 12.65 billion constant 2015 US$ | 8.53 billion constant 2015 US$ | 16.73 billion constant 2015 US$ | 10 |
| 2010s | 16.59 billion constant 2015 US$ | 14.26 billion constant 2015 US$ | 18.57 billion constant 2015 US$ | 10 |
| 2020s | 19.69 billion constant 2015 US$ | 17.57 billion constant 2015 US$ | 20.68 billion constant 2015 US$ | 6 |
Countries ranked near Latvia
- 94 Myanmar 24.10 billion constant 2015 US$ compare
- 95 Uganda 22.81 billion constant 2015 US$ compare
- 96 Cameroon 22.75 billion constant 2015 US$ compare
- 98 Honduras 19.93 billion constant 2015 US$ compare
- 99 Georgia 19.26 billion constant 2015 US$ compare
- 100 Bolivia 18.56 billion constant 2015 US$ 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 services, value added in Latvia?
- Services, value added in Latvia was 20.68 billion constant 2015 US$ in 2025, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Latvia?
- The highest recorded value was 20.68 billion constant 2015 US$ in 2025.
- What is the lowest services, value added recorded in Latvia?
- The lowest recorded value was 6.36 billion constant 2015 US$ in 1995.
- How does Latvia rank for services, value added?
- Latvia ranks 97th out of 196 countries with data for 2025.
- Is services, value added rising or falling in Latvia?
- Over the last ten years it is up 22.4%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Services, value added (constant 2015 US$). Statizoid updates them automatically from the source API.
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About this data
Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defense, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.