Latvia Economy Statistics
Republic of Latvia · Europe · Northern Europe · Capital: Riga
Key Indicators
GDP (Current USD)
$43.68B
GDP Per Capita (USD)
$23,409.085
GDP Growth Rate (%)
-0.0%
Inflation Rate (%)
1.3%
Unemployment Rate (%)
6.6%
Foreign Direct Investment (USD)
$1.51B
Exports (% of GDP)
65.3%
Historical Trends
GDP (Current USD)
GDP Per Capita (USD)
GDP Growth Rate (%)
Inflation Rate (%)
Complete Data
GDP (Current USD)
| Year | Value | Change |
|---|---|---|
| 2024 | $43.68B | +2.1% |
| 2023 | $42.78B | +12.6% |
| 2022 | $38.00B | -0.5% |
| 2021 | $38.18B | +14.4% |
| 2020 | $33.38B | +0.8% |
| 2019 | $33.10B | -0.4% |
| 2018 | $33.25B | +13.1% |
| 2017 | $29.39B | +8.4% |
| 2016 | $27.12B | +2.9% |
| 2015 | $26.34B | -13.0% |
| 2014 | $30.28B | +3.9% |
| 2013 | $29.15B | +7.5% |
| 2012 | $27.12B | +2.0% |
| 2011 | $26.58B | +13.2% |
| 2010 | $23.47B | -8.7% |
| 2009 | $25.69B | -24.7% |
| 2008 | $34.14B | +16.0% |
| 2007 | $29.42B | +44.0% |
| 2006 | $20.43B | +25.3% |
| 2005 | $16.31B | — |
GDP Per Capita (USD)
| Year | Value | Change |
|---|---|---|
| 2024 | $23,409.085 | +3.1% |
| 2023 | $22,710.264 | +12.3% |
| 2022 | $20,221.104 | -0.2% |
| 2021 | $20,261.889 | +15.4% |
| 2020 | $17,564.232 | +1.6% |
| 2019 | $17,294.975 | +0.2% |
| 2018 | $17,252.171 | +14.0% |
| 2017 | $15,132.496 | +9.4% |
| 2016 | $13,838.527 | +3.9% |
| 2015 | $13,321.975 | -12.3% |
| 2014 | $15,185.815 | +4.8% |
| 2013 | $14,484.472 | +8.7% |
| 2012 | $13,329.35 | +3.3% |
| 2011 | $12,902.574 | +15.3% |
| 2010 | $11,188.419 | -6.7% |
| 2009 | $11,996.032 | -23.5% |
| 2008 | $15,677.608 | +17.3% |
| 2007 | $13,370.979 | +45.2% |
| 2006 | $9,211.737 | +26.5% |
| 2005 | $7,283.787 | — |
GDP Growth Rate (%)
| Year | Value | Change |
|---|---|---|
| 2024 | -0.05% | +95.1% |
| 2023 | -0.94% | -149.3% |
| 2022 | 1.91% | -72.5% |
| 2021 | 6.94% | +300.1% |
| 2020 | -3.47% | -613.7% |
| 2019 | 0.68% | -84.3% |
| 2018 | 4.31% | +26.8% |
| 2017 | 3.40% | +33.2% |
| 2016 | 2.55% | -32.6% |
| 2015 | 3.78% | +80.6% |
| 2014 | 2.10% | -0.1% |
| 2013 | 2.10% | -71.3% |
| 2012 | 7.31% | +140.6% |
| 2011 | 3.04% | +182.9% |
| 2010 | -3.66% | +77.2% |
| 2009 | -16.04% | -373.3% |
| 2008 | -3.39% | -132.5% |
| 2007 | 10.41% | -18.8% |
| 2006 | 12.82% | +10.4% |
| 2005 | 11.62% | — |
Inflation Rate (%)
| Year | Value | Change |
|---|---|---|
| 2024 | 1.27% | -85.8% |
| 2023 | 8.94% | -48.4% |
| 2022 | 17.31% | +428.4% |
| 2021 | 3.28% | +1395.1% |
| 2020 | 0.22% | -92.2% |
| 2019 | 2.81% | +10.9% |
| 2018 | 2.53% | -13.5% |
| 2017 | 2.93% | +1984.2% |
| 2016 | 0.14% | -19.3% |
| 2015 | 0.17% | -71.9% |
| 2014 | 0.62% | +2203.4% |
| 2013 | -0.03% | -101.3% |
| 2012 | 2.26% | -48.3% |
| 2011 | 4.37% | +503.0% |
| 2010 | -1.08% | -130.7% |
| 2009 | 3.53% | -77.1% |
| 2008 | 15.40% | +52.6% |
| 2007 | 10.09% | +54.4% |
| 2006 | 6.54% | -3.1% |
| 2005 | 6.75% | — |
Unemployment Rate (%)
| Year | Value | Change |
|---|---|---|
| 2025 | 6.57% | -4.8% |
| 2024 | 6.90% | +6.7% |
| 2023 | 6.46% | -5.1% |
| 2022 | 6.82% | -9.3% |
| 2021 | 7.51% | -7.2% |
| 2020 | 8.10% | +28.3% |
| 2019 | 6.31% | -14.8% |
| 2018 | 7.41% | -15.0% |
| 2017 | 8.71% | -9.6% |
| 2016 | 9.64% | -2.3% |
| 2015 | 9.87% | -9.0% |
| 2014 | 10.85% | -8.6% |
| 2013 | 11.87% | -21.1% |
| 2012 | 15.05% | -7.2% |
| 2011 | 16.21% | -16.8% |
| 2010 | 19.48% | +11.2% |
| 2009 | 17.52% | +126.3% |
| 2008 | 7.74% | +27.9% |
| 2007 | 6.05% | -13.9% |
| 2006 | 7.03% | — |
Foreign Direct Investment (USD)
| Year | Value | Change |
|---|---|---|
| 2024 | $1.51B | -10.4% |
| 2023 | $1.69B | +38.7% |
| 2022 | $1.22B | -67.4% |
| 2021 | $3.73B | +297.5% |
| 2020 | $939.36M | -15.8% |
| 2019 | $1.12B | +154.1% |
| 2018 | $439.13M | -63.1% |
| 2017 | $1.19B | +254.8% |
| 2016 | $335.42M | -58.7% |
| 2015 | $812.84M | -22.2% |
| 2014 | $1.05B | +5.6% |
| 2013 | $989.28M | -8.5% |
| 2012 | $1.08B | -28.9% |
| 2011 | $1.52B | +219.9% |
| 2010 | $474.98M | +416.6% |
| 2009 | $-150,022,148.439 | -110.5% |
| 2008 | $1.43B | -47.1% |
| 2007 | $2.71B | +59.1% |
| 2006 | $1.71B | +110.6% |
| 2005 | $809.86M | — |
Exports (% of GDP)
| Year | Value | Change |
|---|---|---|
| 2024 | 65.33% | -1.0% |
| 2023 | 65.99% | -14.9% |
| 2022 | 77.50% | +16.0% |
| 2021 | 66.81% | +6.6% |
| 2020 | 62.66% | +0.2% |
| 2019 | 62.54% | -2.1% |
| 2018 | 63.87% | -0.4% |
| 2017 | 64.14% | +3.6% |
| 2016 | 61.93% | -1.1% |
| 2015 | 62.60% | -1.5% |
| 2014 | 63.57% | +1.6% |
| 2013 | 62.58% | -2.0% |
| 2012 | 63.83% | +3.3% |
| 2011 | 61.80% | +13.7% |
| 2010 | 54.37% | +25.3% |
| 2009 | 43.40% | +5.2% |
| 2008 | 41.23% | +2.1% |
| 2007 | 40.39% | -3.7% |
| 2006 | 41.95% | -6.4% |
| 2005 | 44.81% | — |
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About Latvia Economy Data
This page presents comprehensive economy statistics for Latvia (Republic of Latvia), located in Europe, Northern Europe. All data is sourced from the World Bank's Open Data platform, which aggregates data from officially-recognized international sources.
The data covers 7 key indicators with historical trends going back to 2000. Each indicator includes the latest available value, year-over-year trends, and time series for in-depth analysis. Data is updated weekly from the World Bank API.
For global comparisons, visit our Economy Rankings page to see how Latvia compares to other countries.