Services, value added in Latvia
Latvia: Services, value added was 21.46 billion constant LCU in 2025. ▲ Rising
Services, value added in Latvia, 1995–2025
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant LCU.
Analysis
In 2025, services, value added in Latvia stood at 21.46 billion constant LCU. That is the highest value across all 31 years on record.
That represents a change of 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 21.46 billion constant LCU in 2025 and was at its lowest, 6.60 billion constant LCU, in 1995.
Latvia ranks 151st of 199 countries on this measure, in the bottom quarter.
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 LCU | Change |
|---|---|---|
| 1995 | 6.60 billion constant LCU | — |
| 1996 | 6.77 billion constant LCU | +2.6% |
| 1997 | 7.31 billion constant LCU | +8.0% |
| 1998 | 7.90 billion constant LCU | +8.0% |
| 1999 | 8.35 billion constant LCU | +5.7% |
| 2000 | 8.85 billion constant LCU | +6.1% |
| 2001 | 9.49 billion constant LCU | +7.2% |
| 2002 | 10.11 billion constant LCU | +6.6% |
| 2003 | 11.13 billion constant LCU | +10.0% |
| 2004 | 12.19 billion constant LCU | +9.6% |
| 2005 | 13.92 billion constant LCU | +14.2% |
| 2006 | 15.64 billion constant LCU | +12.4% |
| 2007 | 17.36 billion constant LCU | +11.0% |
| 2008 | 17.23 billion constant LCU | -0.7% |
| 2009 | 15.31 billion constant LCU | -11.2% |
| 2010 | 14.80 billion constant LCU | -3.3% |
| 2011 | 15.07 billion constant LCU | +1.8% |
| 2012 | 16.16 billion constant LCU | +7.2% |
| 2013 | 16.57 billion constant LCU | +2.6% |
| 2014 | 17.00 billion constant LCU | +2.6% |
| 2015 | 17.53 billion constant LCU | +3.1% |
| 2016 | 18.07 billion constant LCU | +3.0% |
| 2017 | 18.48 billion constant LCU | +2.3% |
| 2018 | 19.27 billion constant LCU | +4.3% |
| 2019 | 19.23 billion constant LCU | -0.2% |
| 2020 | 18.23 billion constant LCU | -5.2% |
| 2021 | 19.85 billion constant LCU | +8.9% |
| 2022 | 20.98 billion constant LCU | +5.7% |
| 2023 | 20.99 billion constant LCU | +0.1% |
| 2024 | 21.11 billion constant LCU | +0.6% |
| 2025 | 21.46 billion constant LCU | +1.6% |
Latvia compared with similar countries
- Latvia's 21.46 billion constant LCU is below the median for high income countries, which is 203.18 billion constant LCU, 11% of the median. (70 countries reporting)
- Latvia's 21.46 billion constant LCU is below the median for Europe & Central Asia, which is 280.65 billion constant LCU, 8% of the median. (54 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 7.39 billion constant LCU | 6.60 billion constant LCU | 8.35 billion constant LCU | 5 |
| 2000s | 13.12 billion constant LCU | 8.85 billion constant LCU | 17.36 billion constant LCU | 10 |
| 2010s | 17.22 billion constant LCU | 14.80 billion constant LCU | 19.27 billion constant LCU | 10 |
| 2020s | 20.44 billion constant LCU | 18.23 billion constant LCU | 21.46 billion constant LCU | 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 services, value added in Latvia?
- Services, value added in Latvia was 21.46 billion constant LCU 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 21.46 billion constant LCU in 2025.
- What is the lowest services, value added recorded in Latvia?
- The lowest recorded value was 6.60 billion constant LCU in 1995.
- How does Latvia rank for services, value added?
- Latvia ranks 151st out of 199 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 LCU). 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 defence, 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 varies by country. This series is expressed in local currency units.