Latvia GDP Growth
Annual percentage growth rate of GDP NY.GDP.MKTP.KD.ZG
Latvia's gdp growth was 1.03% in 2025, ranked 159th globally. This represents a 2,329.5% increase from 2024. Data from World Bank, covering 1991–2025.
Overview
Latvia's gdp growth stood at 1.03% in 2025, a rise of +1.07pp from 2024. The IMF projects 1.03% by 2025. Latvia ranked 159th globally.
Latvia's GDP growth has experienced significant fluctuations over the past three decades, reflecting the country's tumultuous transition from a planned to a market-based economy. The all-time trough of -32.12% in 1992, immediately following the country's independence from the Soviet Union, highlights the devastating impact of the economic shock associated with this transition. Conversely, the peak of 12.83% in 2006 demonstrates Latvia's resilience and the success of its post-independence economic reforms. Although Latvia's GDP growth rate has declined in recent years, the latest value of 1.03% (2025) places it among the top 10 countries globally. Latvia's growth rate is comparable to that of Belgium, which ranks 1.06% globally, but lags behind peer countries such as Japan, which has a growth rate of 1.08%. To sustain its economic momentum, Latvia will need to address potential headwinds, such as a decline in exports and a slowdown in EU economic growth, which could alter the trajectory of its GDP growth in the coming years.
Data & projection
| Year | GDP Growth | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 2.43% | - | - |
| 2029* IMF | 2.42% | - | - |
| 2028* IMF | 2.36% | - | - |
| 2027* IMF | 2.35% | - | - |
| 2026* IMF | 2.16% | - | - |
| 2025* IMF | 1.03% | - | - |
| 2025 | 1.03% | +1.07pp | #159 |
| 2024 | -0.05% | −2.90pp | #181 |
| 2023 | -0.94% | −2.75pp | #192 |
| 2022 | 1.91% | −5.03pp | #166 |
| 2021 | 6.94% | +10.41pp | #65 |
| 2020 | -3.47% | −4.14pp | #96 |
| 2019 | 0.68% | −3.63pp | #172 |
| 2018 | 4.31% | +0.91pp | #66 |
| 2017 | 3.40% | +0.85pp | #101 |
| 2016 | 2.55% | −1.23pp | #125 |
| 2015 | 3.78% | +1.69pp | #78 |
| 2014 | 2.09% | −0.00pp | #140 |
| 2013 | 2.10% | −5.21pp | #138 |
| 2012 | 7.31% | +4.27pp | #30 |
| 2011 | 3.04% | +6.70pp | #122 |
Detected Pattern
Analysis
Latvia matched the Export Boom Cycle pattern in 2017. Historically, 71% of countries showing this pattern (546 out of 768) saw gdp growth improve within 24 months. View full analysis →
The global tech sector's downturn, evidenced by slides in Amazon and Intel, could signal a broader slowdown in global demand, potentially affecting Latvia's export performance. Concurrently, rising oil prices would increase energy import costs for Latvia, potentially fueling inflation and dampening domestic consumption and industrial activity, which could impact its 1.03% GDP growth. The news regarding visa-free travel to Saudi Arabia and Colombia from other nations does not present a direct or significant link to Latvia's current GDP growth.
Frequently Asked Questions
Latvia's gdp growth was 1.03% in 2025. Ranked 159th globally. This represents a 2,329.5% increase from the previous year.
Latvia's gdp growth peaked at 12.83% in 2006.
The lowest gdp growth in Latvia was -32.12% in 1992.
Latvia ranks 159th globally in gdp growth as of 2025.
The World Bank indicator code is NY.GDP.MKTP.KD.ZG. Data sourced from World Bank.
Latvia's gdp growth is projected to reach 1.03% by 2025 based on IMF projection.
The gdp growth of Latvia in 2025 was 1.03%. This ranks 159th in the world.
Cite this page
@misc{historysaid_latvia_gdp-growth,
title = {Latvia GDP Growth},
url = {https://historysaid.com/latvia/gdp-growth/},
publisher = {HistorySaid},
year = {2026}
}