Latvia — GDP
GDP (Nominal) for Latvia, 1995–2025.
GDP for Latvia was 48.62 billion in 2025, according to the latest World Bank data. The series covers 31 years, from 1995 to 2025. The latest year is also the highest value on record for this series. The lowest was 5.61 billion in 1995 (about 8.7× the low point). Across that span the compound annual growth rate works out to 7.46% per year.
Latvia ranks 101 of 212 economies on this measure (1 = highest), putting it in the top 48%. The median for Europe & Central Asia is 101.16 billion, so Latvia sits below it. Over the last decade (2015–2025) the figure moved up 85%. Within Europe & Central Asia it ranks 36 of 57 economies; Estonia (47.03 billion) is just below it. Its sharpest one-year move was up 44% in 2007. That is 36% above this series' own ten-year average.
Data highlights
From its 1995 level: doubled by 2003. Doubling roughly every 9.6 years at that pace.
World ranking. Climbed: 106th of 199 in 1995 → 103rd of 204 in 2000 → 102nd of 212 in 2010 → 99th of 210 in 2020 → 99th of 186 in 2025.
Key figures
Full history — 1995 to 2025
| Year | current US$ | Change |
|---|---|---|
| 2025 | 48,618,869,160.33 | +10.5% |
| 2024 | 44,001,275,012.61 | +2.9% |
| 2023 | 42,779,550,936.84 | +12.6% |
| 2022 | 38,003,198,508.91 | -0.5% |
| 2021 | 38,183,326,784.93 | +14.4% |
| 2020 | 33,379,927,434.61 | +0.8% |
| 2019 | 33,099,503,950.85 | -0.4% |
| 2018 | 33,247,935,477.36 | +13.1% |
| 2017 | 29,391,059,767.43 | +8.4% |
| 2016 | 27,117,105,059.51 | +2.9% |
| 2015 | 26,344,565,876.89 | -13.0% |
| 2014 | 30,277,203,767.41 | +3.9% |
| 2013 | 29,152,128,167.84 | +7.5% |
| 2012 | 27,116,149,948.67 | +2.0% |
| 2011 | 26,575,547,900.82 | +13.2% |
| 2010 | 23,468,324,572.33 | -8.7% |
| 2009 | 25,691,530,442.04 | -24.7% |
| 2008 | 34,135,200,994.01 | +16.0% |
| 2007 | 29,420,499,247.71 | +44.0% |
| 2006 | 20,434,922,247.3 | +25.3% |
| 2005 | 16,306,935,905.41 | +17.9% |
| 2004 | 13,827,070,378.56 | +23.0% |
| 2003 | 11,244,337,719.84 | +21.6% |
| 2002 | 9,249,030,241.02 | +12.9% |
| 2001 | 8,190,888,739.65 | +5.5% |
| 2000 | 7,761,252,607.18 | +6.0% |
| 1999 | 7,324,192,889.74 | +5.0% |
| 1998 | 6,974,112,951.27 | +9.8% |
| 1997 | 6,349,481,006.53 | +9.5% |
| 1996 | 5,799,465,288.41 | +3.4% |
| 1995 | 5,608,208,784.94 | — |
Frequently asked questions
What was Latvia’s GDP in 1996?
5,799,465,288.41 (1996). The full year-by-year table above lists every published year, most recent first.
Are Latvia’s GDP figures nominal or inflation-adjusted?
They are exactly as the World Bank publishes them — current US$ — with no inflation restatement and no PPP conversion. Years the source does not report are omitted rather than interpolated.
Is Latvia’s GDP growing or shrinking?
Between 1995 and 2025 the series was growing overall: +766.9% in total — about 7.5% a year compounded.
Where does this data come from?
World Bank Open Data (CC BY-4.0), indicator NY.GDP.MKTP.CD. Values are reproduced as published; this page only computes summary statistics such as change, CAGR and extremes.
What are the most recent published figures?
The last five published years: 2025: 48,618,869,160.33; 2024: 44,001,275,012.61; 2023: 42,779,550,936.84; 2022: 38,003,198,508.91; 2021: 38,183,326,784.93. Earlier years are in the full-history table below.
Related data
NY.GDP.MKTP.CD — GDP (Nominal). Data licensed under CC BY 4.0. Values are reproduced as published; this page computes the summary statistics (change, CAGR, extremes) from the underlying annual series. View the original dataset on data.worldbank.org.