Latvia GDP (2026): History, Growth Rate & Projections

Nominal Gross Domestic Product (GDP) of Latvia is $53.69 billion as of 2026, according to the International Monetary Fund (IMF). The GDP growth rate in 2026 is 2.2%. GDP per capita is $28,913.

Latvia GDP Trend

Nominal GDP of Latvia has grown from $1.64 billion in 1992 to $53.69 billion in 2026.

Latvia GDP Growth Rate (%)

This chart shows the year-over-year real GDP growth rate of Latvia. Hover any bar to see the exact value for that year.

Average Growth

2.84%

Best Year

2006 (+12.8%)

Worst Year

2009 (-16%)

Years of Contraction

7 of 34

GDP per capita in Latvia rose from $26,116 in 2025 to $28,913 in 2026, an increase of 10.7%.

"Latvia GDP", "Latvia gross domestic product", and "Latvia economy size" all refer to the same nominal GDP figure.

Gross Domestic Product (GDP) of Latvia

The table below shows nominal and PPP GDP, growth rate, and GDP per capita for Latvia for every year IMF has published data, from 1992 to 2026. Click any column header to sort, or search by year.

Latvia nominal GDP by year
Year	GDP Nominal (Current USD)	GDP Growth	GDP per capita	Pop. Change
2026	$53,686,000,000	2.2%	$28,913	-0.21%
2025	$48,591,000,000	2.1%	$26,116	-0.59%
2024	$43,988,000,000	0%	$23,499	-0.58%
2023	$42,792,000,000	-0.9%	$22,725	0.37%
2022	$38,033,000,000	1.9%	$20,276	-0.9%
2021	$38,209,000,000	6.9%	$20,182	-0.79%
2020	$33,353,000,000	-3.5%	$17,484	-0.63%
2019	$33,103,000,000	0.7%	$17,242	-0.72%
2018	$33,263,000,000	4.3%	$17,196	-0.82%
2017	$29,381,000,000	3.4%	$15,066	-0.96%
2016	$27,110,000,000	2.6%	$13,769	-0.86%
2015	$26,347,000,000	3.8%	$13,266	-0.75%
2014	$30,285,000,000	2.1%	$15,131	-1.14%
2013	$29,157,000,000	2.1%	$14,407	-1.03%
2012	$27,136,000,000	7.3%	$13,271	-1.45%
2011	$26,832,000,000	3%	$12,934	-2.17%
2010	$23,509,000,000	-3.7%	$11,087	-1.94%
2009	$25,758,000,000	-16%	$11,910	-1.32%
2008	$34,296,000,000	-3.4%	$15,647	-0.77%
2007	$29,463,000,000	10.4%	$13,339	-0.85%
2006	$20,453,000,000	12.8%	$9,181	-0.98%
2005	$16,332,000,000	11.6%	$7,260	-1.19%
2004	$13,831,000,000	8.7%	$6,075	-0.96%
2003	$11,249,000,000	8.4%	$4,892	-0.95%
2002	$9,256,000,000	7.7%	$3,988	-1.36%
2001	$8,192,000,000	6.5%	$3,481	-1.22%
2000	$7,765,000,000	5.8%	$3,260	-0.71%
1999	$7,325,000,000	2.8%	$3,053	-0.91%
1998	$6,977,000,000	6.6%	$2,882	-0.98%
1997	$6,351,000,000	9.2%	$2,598	-1.01%
1996	$5,799,000,000	2.3%	$2,348	-1.24%
1995	$5,242,000,000	-2.1%	$2,096	-4.8%
1994	$4,391,000,000	2.2%	$1,671	-1.57%
1993	$2,643,000,000	-11.4%	$990	-0.3%
1992	$1,641,000,000	—	$613	—

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Latvia GDP Projections (IMF)

IMF projects nominal GDP for Latvia through 2031, based on current growth and inflation assumptions.

Latvia nominal GDP by year
Year	GDP Nominal (Current USD)	GDP Growth	GDP per capita	Pop. Change
2031	$69,132,000,000	2.4%	$37,605	-0.22%
2030	$65,872,000,000	2.4%	$35,761	-0.22%
2029	$62,785,000,000	2.4%	$34,017	-0.16%
2028	$59,801,000,000	2.4%	$32,335	-0.22%
2027	$56,741,000,000	2.4%	$30,619	-0.22%

Compare Latvia to Nearby-Ranked Economies

Latvia ranks #99 in the world by nominal GDP. See how it compares to the economies ranked just above and below it.

#98Macao GDP #100Libya GDP

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Frequently Asked Questions

What is the GDP of Latvia?

The nominal GDP of Latvia in 2026 is $53.69 billion, according to the IMF World Economic Outlook (April 2026). This ranks Latvia 99th in the world by nominal GDP.

What is the GDP growth rate of Latvia?

The GDP growth rate of Latvia in 2026 is 2.2%, per IMF estimates.

What is the GDP per capita of Latvia?

GDP per capita in Latvia in 2026 is $28,913, per IMF data.

Is the GDP of Latvia expected to grow?

IMF projects the nominal GDP of Latvia to reach $69.13 billion by 2031, up from $53.69 billion in 2026.

Sources: IMF, World Economic Outlook (April 2026).

Disclaimer: GDP figures are IMF World Economic Outlook (April 2026) estimates and projections, subject to revision in future WEO releases. This page is for informational purposes only and is not investment or economic advice.