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COUNTRY OUTLOOK / LV

Latvia

Deposit facility rate · ECB

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Forecast availableTarget · 31 Oct 2026Issued · 15 Sep 2026, 02:54 UTCRESEARCH ONLY
CapitalRiga
RegionEurope & Central Asia
Income groupHigh income
CurrencyEuro
GDP$48.62B2025 · current US$
Real GDP growth2.14%2025 · annual %
Population1.85M2025 · people
GDP per capita$26,311.972025 · current US$

Latest available annual observations; years differ by indicator. Monetary values use the stated current-price basis and are not forecasts. World Bank data fetched 2026-09-15.

Economic structure

2025 · share of GDP

Broad sectors use the latest common year. Manufacturing is included in industry. Shares can total less than 100% because of taxes and accounting adjustments.

Latvia's largest reported broad sector is services in 2025.

Monetary & research context

Policy authorityECB
Policy frameworkcurrency union
Native targetpolicy benchmark rate
Decision evidence0
Calendar evidence0
Communication records0

Evidence counts include research inputs; they do not establish live coverage or independent observations. A country's economic composition is descriptive and does not establish what caused a model forecast.

Country events & results ↗

Explore annual trends

Real GDP growth

2.14% · 2025 · annual %

Real GDP growth · annual %-3.47%1.74%6.94%2014: 2.0949597710559 annual %2015: 3.78336712084972 annual %2016: 2.55168601974034 annual %2017: 3.39894872623931 annual %2018: 4.30971286294503 annual %2019: 0.675372771884227 annual %2020: -3.46922750780554 annual %2021: 6.94254173062592 annual %2022: 1.90853419029801 annual %2023: -0.941606068823631 annual %2024: -0.0370556648288982 annual %2025: 2.13786855731288 annual %20142025
View annual observations
YearValue (annual %)
20252.138
2024-0.037
2023-0.942
20221.909
20216.943
2020-3.469
20190.675
20184.310
20173.399
20162.552
20153.783
20142.095
World Bank source & definition ↗

Economy

GDP$48.62B2025 · current US$Source & definition ↗
Real GDP growth2.14%2025 · annual %Source & definition ↗
GDP per capita$26,311.972025 · current US$Source & definition ↗
GDP at purchasing power parityInt$ 85.25B2025 · current international $Source & definition ↗

People

Population1.85M2025 · peopleSource & definition ↗
Population growth-0.99%2025 · annual %Source & definition ↗
Urban population68.63%2025 · % of populationSource & definition ↗
Life expectancy76.432024 · yearsSource & definition ↗
Unemployment · ILO estimate6.57%2025 · % of labor forceSource & definition ↗
Labor force participation · ages 15+60.52%2025 · % of population ages 15+Source & definition ↗

Sectors

Agriculture, forestry & fishing4.01%2025 · % of GDPSource & definition ↗
Industry including construction18.68%2025 · % of GDPSource & definition ↗
Services64.25%2025 · % of GDPSource & definition ↗
Manufacturing9.99%2025 · % of GDPSource & definition ↗

Trade & investment

Exports of goods & services62.57%2025 · % of GDPSource & definition ↗
Imports of goods & services67.15%2025 · % of GDPSource & definition ↗
Current account balance-3.38%2025 · % of GDPSource & definition ↗
Foreign direct investment · net inflows0.50%2025 · % of GDPSource & definition ↗

Money & public finance

Consumer inflation3.75%2025 · annual %Source & definition ↗
Central government debt7.45%1994 · % of GDPSource & definition ↗
Tax revenue17.65%2024 · % of GDPSource & definition ↗
Government cash surplus / deficitNot available% of GDP
Domestic credit to private sector29.33%2024 · % of GDPSource & definition ↗
Total reserves including gold$6.1B2025 · current US$Source & definition ↗

Infrastructure

Internet use92.71%2024 · % of populationSource & definition ↗
Access to electricity100.00%2024 · % of populationSource & definition ↗

Geography

Surface area64,5902023 · square kmSource & definition ↗

Government debt covers central government, which can differ substantially from general-government debt. Indicator definitions, estimation methods and coverage differ. Latest available does not mean current-year: older observations remain explicitly dated. Source: World Bank WDI and its underlying contributors.

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Every forecast has a boundary.This is a dated research snapshot, not an automatically updating market feed. Source gaps, model limitations, and adverse results are retained.

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