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Economy of Latvia

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Overview Economy Population Trade Government Finance Society Environment

GDP Composition by Industry

15.2% 15.9% 12.7% 45.5%
  • Agriculture, forestry & fishing: 4.6%
  • Mining, manufacturing & utilities: 15.2%
  • Construction: 6.0%
  • Trade, restaurants & hotels: 15.9%
  • Transport & communication: 12.7%
  • Finance, real estate & other services: 45.5%
Show table
Agriculture, forestry & fishing
4.6%
Mining, manufacturing & utilities
15.2%
Construction
6.0%
Trade, restaurants & hotels
15.9%
Transport & communication
12.7%
Finance, real estate & other services
45.5%

Share of total gross value added by industry.
Source: UN National Accounts, 2024.

GDP

GDP (USD) 53.7B #96 / 190 2026
GDP (Local currency - EUR) 45.5B - 2026
Real GDP (Local currency - EUR) 32.9B - 2026
PPP GDP (Int$) 85.1B #110 / 191 2026
GNI (USD) 42.8B #100 / 210 2024

GDP per Capita

GDP per Capita (USD) 28,913 #53 / 190 2026
GDP per Capita (Local currency - EUR) 24,518 - 2026
Real GDP per Capita (Local currency - EUR) 17,733 - 2026
PPP GDP per Capita (Int$) 45,840 #58 / 191 2026
GNI per Capita (USD) 22,853 #65 / 210 2024

Economic Growth

GDP Growth 2.2% #126 / 191 2026

Prices and Inflation

Inflation Rate 3% #114 / 191 2026

Labor Market

Unemployment Rate 6.7% #34 / 103 2026

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