Latvia GDP
Gross Domestic Product in current US dollars NY.GDP.MKTP.CD
Latvia's gdp was $47.9B in 2025, ranked 95th globally. This represents a 9.6% increase from 2024. Data from World Bank, covering 1992–2025.
Overview
Latvia's gdp stood at $47.9B in 2025, a rise of +$4.2B from 2024. The IMF projects $47.9B by 2025. Latvia ranked 95th globally.
Latvia’s gross domestic product has risen from a post‑Soviet low of 1,641,000,000.00 in 1992 to an all‑time high of 47,880,000,000.00 in 2025, placing the country 95th globally among 34 years of World Bank coverage. This growth reflects a cumulative expansion of roughly 2,818 percent, driven by structural reforms, EU integration and a shift toward services and high‑value manufacturing. In 2025 Latvia’s output is closely matched by peer economies such as Libya, whose GDP stands at 47,941,000,000.00, and Paraguay at 47,398,000,000.00, underscoring the convergence of small open economies around the $48 billion mark. The trajectory suggests that continued investment in digital infrastructure and export diversification could sustain modest gains, while external shocks or demographic decline would be the principal risks to altering this upward path.
Data & projection
| Year | GDP | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | $63.7B | - | - |
| 2029* IMF | $60.7B | - | - |
| 2028* IMF | $57.9B | - | - |
| 2027* IMF | $55.1B | - | - |
| 2026* IMF | $52.2B | - | - |
| 2025* IMF | $47.9B | - | - |
| 2025 | $47.9B | +$4.2B | #95 |
| 2024 | $43.7B | +$1.1B | #103 |
| 2023 | $42.8B | +$4.7B | #108 |
| 2022 | $38.0B | −$205.8M | #110 |
| 2021 | $38.2B | +$4.8B | #116 |
| 2020 | $33.4B | +$276.9M | #113 |
| 2019 | $33.1B | −$163.5M | #112 |
| 2018 | $33.2B | +$3.9B | #114 |
| 2017 | $29.4B | +$2.3B | #112 |
| 2016 | $27.1B | +$770.1M | #112 |
| 2015 | $26.3B | −$3.9B | #111 |
| 2014 | $30.3B | +$1.1B | #113 |
| 2013 | $29.2B | +$2.0B | #113 |
| 2012 | $27.1B | +$284.1M | #111 |
| 2011 | $26.6B | +$3.1B | #113 |
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 improve within 24 months. View full analysis →
Frequently Asked Questions
Latvia's gdp was $47.9B in 2025. Ranked 95th globally. This represents a 9.6% increase from the previous year.
Latvia's gdp peaked at $47.9B in 2025.
The lowest gdp in Latvia was $1.6B in 1992.
Latvia ranks 95th globally in gdp as of 2025.
The World Bank indicator code is NY.GDP.MKTP.CD. Data sourced from World Bank.
Latvia's gdp is projected to reach $47.9B by 2025 based on IMF projection.
Latvia's gdp was approximately 47.88 billion ($47.9B) in 2025.
The gdp of Latvia in 2025 was $47.9B. This ranks 95th in the world.
Cite this page
@misc{historysaid_latvia_gdp,
title = {Latvia GDP},
url = {https://historysaid.com/latvia/gdp/},
publisher = {HistorySaid},
year = {2026}
}