Gross domestic product (GDP), Current prices, Fiscal year, Domestic in Latvia
Latvia: Gross domestic product (GDP), Current prices, Fiscal year, Domestic was 58.97 billion in 2031. ◆ Volatile
Gross domestic product (GDP), Current prices, Fiscal year, Domestic in Latvia, 1992–2031
Source: International Monetary Fund.
Analysis
Latvia recorded 58.97 billion for gross domestic product (gdp), current prices, fiscal year, domestic in 2031. That is the highest value across all 40 years on record.
Compared with earlier readings it is up 5.0% on the previous year and up 82.7% over ten years.
Over the whole period, gross domestic product (gdp), current prices, fiscal year, domestic in Latvia peaked at 58.97 billion in 2031 and was at its lowest, 1.72 billion, in 1992.
That places Latvia 23rd out of 26 countries with data for 2031, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross domestic product (GDP), Current prices, Fiscal year, Domestic in Latvia, year by year
| Year | Value | Change |
|---|---|---|
| 1992 | 1.72 billion | — |
| 1993 | 2.51 billion | +46.0% |
| 1994 | 3.49 billion | +39.2% |
| 1995 | 3.93 billion | +12.5% |
| 1996 | 4.54 billion | +15.6% |
| 1997 | 5.25 billion | +15.5% |
| 1998 | 5.85 billion | +11.5% |
| 1999 | 6.10 billion | +4.2% |
| 2000 | 6.70 billion | +9.8% |
| 2001 | 7.32 billion | +9.3% |
| 2002 | 8.14 billion | +11.2% |
| 2003 | 9.14 billion | +12.4% |
| 2004 | 10.63 billion | +16.3% |
| 2005 | 13.10 billion | +23.3% |
| 2006 | 16.29 billion | +24.4% |
| 2007 | 21.51 billion | +32.0% |
| 2008 | 23.35 billion | +8.6% |
| 2009 | 18.48 billion | -20.9% |
| 2010 | 17.72 billion | -4.1% |
| 2011 | 19.12 billion | +7.9% |
| 2012 | 21.10 billion | +10.4% |
| 2013 | 21.96 billion | +4.0% |
| 2014 | 22.79 billion | +3.8% |
| 2015 | 23.74 billion | +4.2% |
| 2016 | 24.50 billion | +3.2% |
| 2017 | 26.02 billion | +6.2% |
| 2018 | 28.15 billion | +8.2% |
| 2019 | 29.57 billion | +5.0% |
| 2020 | 29.22 billion | -1.2% |
| 2021 | 32.28 billion | +10.5% |
| 2022 | 36.09 billion | +11.8% |
| 2023 | 39.56 billion | +9.6% |
| 2024 | 40.65 billion | +2.8% |
| 2025 | 43.03 billion | +5.8% |
| 2026 | 45.53 billion | +5.8% |
| 2027 | 48.23 billion | +5.9% |
| 2028 | 50.97 billion | +5.7% |
| 2029 | 53.54 billion | +5.0% |
| 2030 | 56.18 billion | +4.9% |
| 2031 | 58.97 billion | +5.0% |
Latvia compared with similar countries
- Latvia's 58.97 billion is below the median for high income countries, which is 2.99 trillion, 2% of the median. (13 countries reporting)
- Latvia's 58.97 billion is below the median for Europe & Central Asia, which is 114.87 billion, 51% of the median. (7 countries reporting)
Biggest year-on-year movements
Years where Gross domestic product (GDP), Current prices, Fiscal year, Domestic in Latvia changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1993 | +46.0% | 1.72 billion | 2.51 billion |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 4.18 billion | 1.72 billion | 6.10 billion | 8 |
| 2000s | 13.47 billion | 6.70 billion | 23.35 billion | 10 |
| 2010s | 23.47 billion | 17.72 billion | 29.57 billion | 10 |
| 2020s | 41.91 billion | 29.22 billion | 53.54 billion | 10 |
| 2030s | 57.58 billion | 56.18 billion | 58.97 billion | 2 |
Countries ranked near Latvia
More public sector data for Latvia
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 19.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 5.36 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0002 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate -76.19 % change on previous year (2024)
Frequently asked questions
- What is gross domestic product (gdp), current prices, fiscal year, domestic in Latvia?
- Gross domestic product (gdp), current prices, fiscal year, domestic in Latvia was 58.97 billion in 2031, according to International Monetary Fund.
- What is the highest gross domestic product (gdp), current prices, fiscal year, domestic recorded in Latvia?
- The highest recorded value was 58.97 billion in 2031.
- What is the lowest gross domestic product (gdp), current prices, fiscal year, domestic recorded in Latvia?
- The lowest recorded value was 1.72 billion in 1992.
- How does Latvia rank for gross domestic product (gdp), current prices, fiscal year, domestic?
- Latvia ranks 23rd out of 26 countries with data for 2031.
- Is gross domestic product (gdp), current prices, fiscal year, domestic rising or falling in Latvia?
- Over the last ten years it is up 82.7%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from International Monetary Fund, published as part of Gross domestic product (GDP), Current prices, Fiscal year, Domestic currency (9/26/2025). Statizoid updates them automatically from the source API.
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About this data
The World Economic Outlook (WEO) database is created during the biannual WEO exercise, which begins in January and June of each year and results in the April and September/October WEO publication. Selected series from the publication are available in a database format.