Real GDP growth, %
Since 1995 · lighter bars = IMF projection
Macro
Latvia
Europe & Central Asia · High income · IMF WEO April 2026 · World Bank WDI
GDP▲ 10.5%
Current prices2025
49USD bn
GDP per capita▲ 11.1%
Current prices2025
26,116USD
Real GDP growth▲ 2.2 pp
Annual change2025
2.1%
Inflation▲ 2.5 pp
Average consumer prices2025
3.8%
Unemployment■ 0.0 pp
Rate2025
6.9%
Government debt▲ 0.7 pp
General government, gross2025
46.9% of GDP
Current account▼ 1.8 pp
Balance2025
-3.4% of GDP
Population▼ 0.6%
Total2025
1.86million
Inflation, %
Average consumer prices · lighter bars = IMF projection
IMF outlook
IMF World Economic Outlook April 2026 · italics = IMF projection
| Indicator | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|---|---|---|
| Real GDP growth % | 6.9 | 1.9 | -0.9 | -0.0 | 2.1 | 2.2 | 2.4 | 2.4 | 2.4 | 2.4 |
| Inflation, average consumer prices % | 3.2 | 17.2 | 9.1 | 1.3 | 3.8 | 3.0 | 2.7 | 2.9 | 2.2 | 2.2 |
| Unemployment rate % | 7.6 | 6.9 | 6.5 | 6.9 | 6.9 | 6.7 | 6.5 | 6.5 | 6.4 | 6.3 |
| GDP, current prices USD bn | 38 | 38 | 43 | 44 | 49 | 54 | 57 | 60 | 63 | 66 |
| GDP per capita, current prices USD | 20,182 | 20,276 | 22,725 | 23,499 | 26,116 | 28,913 | 30,619 | 32,335 | 34,017 | 35,761 |
| GDP per capita, PPP Int. USD | 35,439 | 39,044 | 39,953 | 41,173 | 43,509 | 45,840 | 48,055 | 50,106 | 52,316 | 54,649 |
| General government gross debt % of GDP | 45.9 | 44.4 | 44.4 | 46.2 | 46.9 | 47.4 | 48.5 | 49.6 | 50.8 | 52.2 |
| General government net lending/borrowing % of GDP | -5.7 | -3.9 | -3.4 | -1.7 | -4.0 | -3.3 | -3.9 | -3.7 | -3.7 | -3.9 |
| Current account balance % of GDP | -4.1 | -5.5 | -3.8 | -1.5 | -3.4 | -3.6 | -3.6 | -3.8 | -3.8 | -3.6 |
| Population million | 1.89 | 1.88 | 1.88 | 1.87 | 1.86 | 1.86 | 1.85 | 1.85 | 1.85 | 1.84 |
Government debt, % of GDP
General government gross debt
Current account, % of GDP
Balance of payments
Economic structure
Value added by sector, % of GDP · World Bank
AgricultureManufacturingOther industryServices
| Year | Structure | Agriculture | Industry | Manufacturing | Services |
|---|---|---|---|---|---|
| 1995 | 8.1 | 27.5 | 18.2 | 52.9 | |
| 2005 | 3.9 | 21.0 | 11.9 | 63.5 | |
| 2015 | 3.6 | 19.8 | 10.8 | 64.1 | |
| 2025 | 4.0 | 18.7 | 10.0 | 64.2 |
Income, trade and society
World Bank WDI · change over 10 years
| Indicator | Latest | Unit | Year | 10Y change |
|---|---|---|---|---|
| GNI per capita, Atlas method | 24,980 | USD | 2025 | +71.3% |
| GNI, Atlas method | 46 | USD bn | 2025 | +60.1% |
| Exports of goods and services | 62.6 | % of GDP | 2025 | -0.0 pp |
| Imports of goods and services | 67.2 | % of GDP | 2025 | +3.4 pp |
| Life expectancy at birth | 76.4 | years | 2024 | +3.1% |
| Urban population | 68.6 | % of total | 2025 | +0.7 pp |
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Market data for this country
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Sources: IMF World Economic Outlook (April 2026; 2026 onwards are IMF projections) · World Bank World Development Indicators (CC BY 4.0)