Economy · Europe & Central Asia · High income
Latvia: the economy in numbers
GDP is $48.6bn (2025), 101st of 211 in the world and 36th of 57 in Europe & Central Asia. GDP per capita is $26,312 (2025), 64th of 211 in the world and 35th of 57 in Europe & Central Asia. GDP per capita, PPP is $46,137 (2025), 57th of 199 in the world and 33rd of 53 in Europe & Central Asia.
GDP
Latvia
GDP per capita
LatviaEurope & Central AsiaHigh incomeWorld
13 indicators
Economy: Latvia in detail
Latest reported value, world rank and rank within Europe & Central Asia; values around 2000, 2010, 2020; group and world columns are World Bank aggregates.
| Indicator | Latest | World rank | In region | ~2000 | ~2010 | ~2020 | 10-year change | Region | Income group | World | Since 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GDPGDP, current US$ | $48.6bn2025 | 101/211 | 36/57 | $7.8bn | $23.5bn | $33.4bn | +85%since 2015 | $32.3tn | $76.9tn | $118tn | |
| GDP per capitaGDP per capita, current US$ | $26,3122025 | 64/211 | 35/57 | $3,278 | $11,188 | $17,564 | +98%since 2015 | $34,603 | $53,997 | $14,406 | |
| GDP per capita, PPPGDP per capita, PPP (current international $) | $46,1372025 | 57/199 | 33/53 | $7,849 | $16,373 | $32,741 | +105%since 2015 | $54,129 | $69,953 | $25,704 | |
| GNI per capitaGNI per capita, Atlas method, US$ | $24,9802025 | 58/201 | 31/53 | $3,240 | $12,250 | $17,350 | +71%since 2015 | $32,822 | $52,957 | $14,244 | |
| GDP growthGDP growth, annual % | 2.1%2025 | 141/210 | 26/56 | 5.8% | -3.7% | -3.5% | −1.6 ppsince 2015 | 1.7% | 1.9% | 2.9% | |
| GDP per capita growthGDP per capita growth, annual % | 3.2%2025 | 78/210 | 18/56 | 6.9% | -1.6% | -2.8% | −1.5 ppsince 2015 | 1.3% | 1.5% | 2.0% | |
| Agriculture shareAgriculture, forestry and fishing, % of GDP | 4.0%2025 | 114/198 | 18/56 | 4.5% | 4.1% | 4.1% | +0.5 ppsince 2015 | 2.0% | 1.3% | 4.0% | |
| Industry shareIndustry incl. construction, % of GDP | 18.7%2025 | 133/201 | 39/57 | 24.2% | 20.9% | 20.3% | −1.1 ppsince 2015 | 22.7% | 21.3% | 25.0% | |
| Manufacturing shareManufacturing, value added, % of GDP | 10.0%2025 | 101/194 | 36/54 | 14.0% | 12.1% | 11.5% | −0.9 ppsince 2015 | 13.5% | 12.0% | 14.9% | |
| Services shareServices, % of GDP | 64.2%2025 | 61/201 | 21/57 | 60.5% | 63.7% | 62.4% | +0.1 ppsince 2015 | 65.5% | 69.1% | 63.3% | |
| InvestmentGross capital formation, % of GDP | 24.1%2025 | 82/175 | 25/51 | 25.0% | 20.9% | 22.2% | −0.1 ppsince 2015 | 22.9% | 22.6% | 26.3% | |
| SavingsGross savings, % of GDP | 20.0%2025 | 95/163 | 34/49 | 18.7% | 22.7% | 25.2% | −4.0 ppsince 2015 | 24.6% | 23.2% | 26.0% | |
| Resource rentsNatural resources rents, % of GDP | 1.2%2021 | 114/209 | 17/56 | 2.6% | 1.3% | 1.3% | −0.2 ppsince 2011 | 2.2% | 2.5% | 3.1% |
Source: World Bank, World Development Indicators (CC BY 4.0)“·” — no value reported within two years of that date. World rank counts countries with a recent value.
Better than ten years ago
- GDP+85%$48.6bn in 2025
- GDP per capita+98%$26,312 in 2025
- GDP per capita, PPP+105%$46,137 in 2025
- GNI per capita+71%$24,980 in 2025
Worse than ten years ago
- GDP growth−1.6 pp2.1% in 2025
- GDP per capita growth−1.5 pp3.2% in 2025
Only indicators where higher or lower is clearly better are rated (for example, unemployment down is better, life expectancy up is better).
neighbours
Latvia and its neighbours
Countries sharing a land border with Latvia. Latest values since 2005; the highest in each row is marked.
| Indicator | Latvia | Russia | Sweden | Belarus | Lithuania | Estonia |
|---|---|---|---|---|---|---|
| GDP | $48.6bn2025 | $2.6tn2025 | $669bn2025 | $93.4bn2025 | $95.2bn2025 | $47.0bn2025 |
| GDP per capita | $26,3122025 | $17,5472025 | $63,1332025 | $10,2792025 | $32,9592025 | $34,4182025 |
| GDP per capita, PPP | $46,1372025 | $49,5682025 | $72,5292025 | $34,7162025 | $56,8382025 | $52,1062025 |
| GNI per capita | $24,9802025 | $15,9602025 | $63,0102025 | $9,1602025 | $30,5002025 | $32,3102025 |
| GDP growth | 2.1%2025 | 1.0%2025 | 1.5%2025 | 1.3%2025 | 2.9%2025 | 0.6%2025 |
| GDP per capita growth | 3.2%2025 | 1.1%2025 | 1.3%2025 | 1.8%2025 | 2.9%2025 | 1.0%2025 |
| Agriculture share | 4.0%2025 | 3.1%2025 | 1.5%2025 | 6.9%2025 | 2.3%2025 | 1.6%2025 |
| Industry share | 18.7%2025 | 29.7%2025 | 21.0%2025 | 31.6%2025 | 22.1%2025 | 19.7%2025 |
| Manufacturing share | 10.0%2025 | 13.7%2025 | 12.5%2025 | 20.5%2025 | 13.1%2025 | 10.8%2025 |