Latvia GDP per Capita
GDP divided by midyear population NY.GDP.PCAP.CD
Latvia's gdp per capita was $25,630 in 2025, ranked 53rd globally. This represents a 9.5% increase from 2024. Data from World Bank, covering 1992–2025.
Overview
Latvia's gdp per capita stood at $25,630 in 2025, a rise of +$2,221 from 2024. The IMF projects $25,630 by 2025. Latvia ranked 53rd globally.
Latvia’s gross domestic product per capita has risen dramatically since the early 1990s, climbing from a trough of 613.21 in 1992 to an all‑time peak of 25,629.63 in 2025, placing the country 53rd in the world. This 4,074 percent increase reflects the transition from a centrally planned economy to a market‑oriented system, sustained reforms, and integration into the European Union, which have collectively boosted productivity and attracted foreign investment. The 2025 figure is marginally lower than the comparable level recorded by Barbados (25,926.58) and slightly below Hungary’s 25,916.33, suggesting that Latvia now competes with upper‑middle‑income economies despite its smaller size. The long‑term upward trajectory has been punctuated by periods of slower growth during the global financial crisis and the COVID‑19 pandemic, yet the post‑crisis recovery has restored momentum. Continued convergence with its peers will depend on maintaining fiscal discipline, advancing digitalisation, and enhancing labour‑market flexibility, which could sustain or even accelerate the upward trend in per‑capita output.
Data & projection
| Year | GDP per Capita | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | $34,421 | - | - |
| 2029* IMF | $32,765 | - | - |
| 2028* IMF | $31,159 | - | - |
| 2027* IMF | $29,620 | - | - |
| 2026* IMF | $28,024 | - | - |
| 2025* IMF | $25,630 | - | - |
| 2025 | $25,630 | +$2,221 | #53 |
| 2024 | $23,409 | +$794 | #62 |
| 2023 | $22,710 | +$2,428 | #60 |
| 2022 | $20,221 | +$39 | #67 |
| 2021 | $20,262 | +$2,778 | #64 |
| 2020 | $17,564 | +$323 | #65 |
| 2019 | $17,295 | +$99 | #71 |
| 2018 | $17,252 | +$2,186 | #71 |
| 2017 | $15,132 | +$1,364 | #73 |
| 2016 | $13,839 | +$573 | #73 |
| 2015 | $13,322 | −$1,809 | #75 |
| 2014 | $15,186 | +$779 | #73 |
| 2013 | $14,484 | +$1,214 | #74 |
| 2012 | $13,329 | +$396 | #75 |
| 2011 | $12,903 | +$1,816 | #78 |
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 per capita improve within 24 months. View full analysis →
Frequently Asked Questions
Latvia's gdp per capita was $25,630 in 2025. Ranked 53rd globally. This represents a 9.5% increase from the previous year.
Latvia's gdp per capita peaked at $25,630 in 2025.
The lowest gdp per capita in Latvia was $613 in 1992.
Latvia ranks 53rd globally in gdp per capita as of 2025.
The World Bank indicator code is NY.GDP.PCAP.CD. Data sourced from World Bank.
Latvia's gdp per capita is projected to reach $25,630 by 2025 based on IMF projection.
The gdp per capita of Latvia in 2025 was $25,630. This ranks 53rd in the world.
Cite this page
@misc{historysaid_latvia_gdp-per-capita,
title = {Latvia GDP per Capita},
url = {https://historysaid.com/latvia/gdp-per-capita/},
publisher = {HistorySaid},
year = {2026}
}