Home / Countries / Northern Europe
Latvia economy
Latvia’s economy grew 2.1% in 2025, slower than the world as a whole (2.9%). Consumer prices rose 3.8% in 2025, and 6.6% of the labour force was out of work.
| Indicator | Latest | Year |
|---|---|---|
| Real GDP growth | 2.1% | 2025 |
| Inflation (consumer prices) | 3.8% | 2025 |
| Unemployment | 6.6% | 2025 |
| GDP (US dollars) | $48.6 bn | 2025 |
| GDP per person (US dollars) | $26,312 | 2025 |
| GDP per person (PPP, international dollars) | $43,394 | 2024 |
| Current account balance, % of GDP | −3.4% | 2025 |
| Budget balance, % of GDP | −2.0% | 2024 |
| Extreme poverty, % of people below $3.00 a day | 0.4% | 2023 |
| Population | 1.8 m | 2025 |
Source: World Bank, World Development Indicators (CC BY 4.0). Data release 2026-10-22. Figures are revised by their publishers.