Flag of lv

Latvia GDP

Latvia's GDP rose to $43.52 billion in 2024, up from $42.57 billion in 2023, according to World Bank. This represents an increase of 2.2% ($948.62 million) from the previous year and accounts for 0.04% of the world's total GDP. Latvia has GDP higher than the global median ($43.52 billion vs median $35.85 billion). Compared with the median in Europe, Latvia is lower ($43.52 billion vs regional median $126.99 billion) and ranks 32nd out of 48 countries in Europe.

Latvia's GDP per capita rose to $16,951.36 in 2024, up from $16,890.63 in 2023.

Yearly Historical Data (1995-2024)

(in Billion USD)
Year GDP (Billion USD)
2024 43.52
2023 42.57
2022 38.01
2021 38.18
2020 33.38
2019 33.1
2018 33.25
2017 29.39
2016 27.12
2015 26.34
2014 30.28
2013 29.15
2012 27.12
2011 26.58
2010 23.47
2009 25.69
2008 34.14
2007 29.42
2006 20.43
2005 16.31
2004 13.83
2003 11.24
2002 9.25
2001 8.19
2000 7.76
1999 7.32
1998 6.97
1997 6.35
1996 5.8
1995 5.61
Latvia GDP : Definition
GDP measures the total value of all goods and services produced in Latvia, measured in current US dollars. It is also called Nominal GDP.
Indicator Last Value Prior Value Period
GDP Annual Growth Rate -0.44% 2.85% 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