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Latvia GDP Annual Growth Rate

Latvia's GDP annual growth rate fell to -0.44% in 2024, down from 2.85% in 2023, according to World Bank. This represents a decrease of 3.29% from the previous year. Latvia has the 19th lowest GDP annual growth rate. Within Europe, it ranks 45th out of 47 countries.

Latvia's real GDP fell to $31.57 billion in 2024, down from $31.71 billion in 2023.

Yearly Historical Data (1991-2024)

(in %)
Year GDP Annual Growth Rate (%)
2024 -0.44%
2023 2.85%
2022 1.81%
2021 6.94%
2020 -3.47%
2019 0.68%
2018 4.31%
2017 3.4%
2016 2.55%
2015 3.78%
2014 2.09%
2013 2.1%
2012 7.31%
2011 3.04%
2010 -3.66%
2009 -16.04%
2008 -3.39%
2007 10.41%
2006 12.83%
2005 11.62%
2004 8.73%
2003 8.43%
2002 7.67%
2001 6.46%
2000 5.84%
1999 2.82%
1998 6.55%
1997 9.17%
1996 2.3%
1995 -0.94%
1994 2.19%
1993 -4.98%
1992 -32.12%
1991 -12.6%
Latvia GDP Annual Growth Rate : Definition
GDP Annual Growth Rate measures the yearly percentage change in Latvia's total economic output.
Indicator Last Value Prior Value Period
GDP $43.52B $42.57B 2024
GDP per Capita $16,951.36 $16,890.63 2024
GDP per Capita PPP $38,936.05 $38,796.55 2024
R&D Expenditure (% GDP) 0.76% 0.75% 2022
Real GDP $31.57B $31.71B 2024