Latvia
Capital: RigaRegion: Europe & Central AsiaIncome: High income
GDP
$52.25B
2026
Population
1.9M
2024
GDP per Capita
$28K
2026
Life Expectancy
75.7 years
2023
Economy
| Indicator | Value | Year |
|---|---|---|
| GDP (Current USD, Billions) | $52.25B | 2026 |
| Real GDP Growth (%) | 2.2% | 2026 |
| GDP per Capita (USD) | $28K | 2026 |
| GDP, PPP (Billions Intl $) | $85.69B | 2026 |
| GDP per Capita, PPP (Intl $) | $46K | 2026 |
| Share of World GDP, PPP (%) | 0.04% | 2026 |
| GNI (Current USD) | $42.78B | 2024 |
| GNI per Capita (USD) | $22K | 2024 |
| GNI per Capita, PPP (USD) | $43K | 2024 |
| Industry Value Added (% of GDP) | 18.5% | 2024 |
| Services Value Added (% of GDP) | 64.6% | 2024 |
| Agriculture Value Added (% of GDP) | 4.0% | 2024 |
| Government Consumption (% of GDP) | 20.1% | 2023 |
| Household Consumption (% of GDP) | 62.4% | 2023 |
| Gross Capital Formation (% of GDP) | 20.9% | 2024 |
| Gross Savings (% of GNI) | 19.3% | 2024 |
| GDP Deflator (%) | 2.1% | 2024 |
| GDP per Person Employed (USD) | $79K | 2024 |
| Manufacturing Value Added (% of GDP) | 9.9% | 2024 |
| Medium/High-Tech Manufacturing (% of total) | 20.9% | 2022 |
| Adjusted Net National Income per Capita (USD) | $16K | 2021 |
| Adjusted Net Savings (% of GNI) | 3.1% | 2021 |
| External Balance on Goods & Services (% of GDP) | -1.6% | 2024 |
| Coal Rents (% of GDP) | 0.00% | 2021 |
| Mineral Rents (% of GDP) | 0.00% | 2021 |
| Oil Rents (% of GDP) | 0.07% | 2021 |
| Natural Gas Rents (% of GDP) | 0.00% | 2021 |
| Total Natural Resources Rents (% of GDP) | 1.2% | 2021 |
| Forest Rents (% of GDP) | 1.10% | 2021 |
| Industry Value Added (Current USD) | $8.08B | 2024 |
Fiscal & Monetary
| Indicator | Value | Year |
|---|---|---|
| Inflation, Consumer Prices (%) | 2.6% | 2026 |
| Govt Gross Debt (% of GDP) | 47.4% | 2026 |
| Fiscal Balance (% of GDP) | -3.0% | 2026 |
| Current Account Balance (% of GDP) | -2.3% | 2026 |
| Unemployment Rate (%) | 6.6% | 2026 |
| Inflation, CPI (%, World Bank) | 1.3% | 2024 |
| Government Revenue (% of GDP) | 32.0% | 2023 |
| Tax Revenue (% of GDP) | 16.6% | 2023 |
| Taxes on Goods & Services (% of revenue) | 40.0% | 2023 |
| Taxes on Income, Profits & Capital Gains (% of rev) | 8.7% | 2023 |
| Net Investment in Nonfinancial Assets (% of GDP) | 4.0% | 2023 |
| Total Reserves incl. Gold (USD) | $5.14B | 2024 |
| Total Reserves (months of imports) | 1.8 | 2024 |
| Official Exchange Rate (per USD) | 0.92 | 2024 |
Trade
| Indicator | Value | Year |
|---|---|---|
| Trade (% of GDP) | 132.3% | 2024 |
| Imports of Goods & Services (% of GDP) | 66.9% | 2024 |
| Exports of Goods & Services (USD) | $28.54B | 2024 |
| Imports of Goods & Services (USD) | $29.24B | 2024 |
| Merchandise Exports (USD) | $20.67B | 2024 |
| Merchandise Imports (USD) | $23.74B | 2024 |
| FDI Inflows (% of GDP) | 3.5% | 2024 |
| FDI Outflows (% of GDP) | 0.6% | 2024 |
| FDI Net Inflows (USD) | $1.51B | 2024 |
| Personal Remittances Received (USD) | $1.34B | 2024 |
| Personal Remittances Received (% of GDP) | 3.1% | 2024 |
| High-Tech Exports (% of manufactured) | 17.5% | 2024 |
| Current Account Balance (% of GDP) | -1.6% | 2024 |
| Current Account Balance (USD) | $-687.9M | 2024 |
Finance
| Indicator | Value | Year |
|---|---|---|
| Domestic Credit to Private Sector (% of GDP) | 29.5% | 2024 |
| Bank Capital to Assets Ratio (%) | 9.5% | 2023 |
| Bank Nonperforming Loans (%) | 2.4% | 2023 |
| Account Ownership at Financial Institution (%) | 95.0% | 2024 |
| Account Ownership, Female (%) | 95.4% | 2024 |
| Account Ownership, Male (%) | 94.4% | 2024 |
| Firms Using Banks to Finance Investment (%) | 18.1% | 2024 |
Business Environment
| Indicator | Value | Year |
|---|---|---|
| Time to Get Electricity (days) | 37 | 2024 |
Private Sector
| Indicator | Value | Year |
|---|---|---|
| Firms Expected to Pay Bribes (%) | 2.5% | 2024 |
| Firms with Female Top Manager (%) | 46.5% | 2024 |
| Firms with Female Participation in Ownership (%) | 24.1% | 2024 |
| Average Firm Age (years) | 24 years | 2024 |
| Firms Using Computers (%) | 41.8% | 2024 |
People
| Indicator | Value | Year |
|---|---|---|
| Population | 1.9M | 2024 |
| Population Growth (%) | -0.9% | 2024 |
| Population Density (per km²) | 30 | 2023 |
| Surface Area (sq km) | 64,590 | 2023 |
| Land Area (sq km) | 62,230 | 2023 |
| Urban Population (%) | 68.5% | 2024 |
| Urban Population (total) | 1.3M | 2024 |
| Rural Population (%) | 31.5% | 2024 |
| Life Expectancy at Birth | 75.7 years | 2023 |
| Life Expectancy, Male | 70.8 years | 2023 |
| Life Expectancy, Female | 80.8 years | 2023 |
| Fertility Rate (births per woman) | 1.4 | 2023 |
| Birth Rate (per 1,000) | 7.7 | 2023 |
| Death Rate (per 1,000) | 14.9 | 2023 |
| Net Migration | -7,330 | 2025 |
| Population Ages 0–14 (%) | 15.4% | 2024 |
| Population Ages 15–64 (%) | 62.9% | 2024 |
| Population Ages 65+ (%) | 21.7% | 2024 |
| Age Dependency Ratio (%) | 59.1% | 2024 |
| Mortality Rate, Adult Male (per 1,000) | 227.2 | 2023 |
| Mortality Rate, Adult Female (per 1,000) | 76.4 | 2023 |
Labor
| Indicator | Value | Year |
|---|---|---|
| Total Labor Force | 946,983 | 2025 |
| Labor Force Participation (%) | 60.5% | 2025 |
| Female Labor Force Participation (%) | 55.2% | 2025 |
| Male Labor Force Participation (%) | 66.8% | 2025 |
| Unemployment (%) | 6.6% | 2025 |
| Female Unemployment (%) | 5.5% | 2025 |
| Male Unemployment (%) | 7.6% | 2025 |
| Youth Unemployment (%) | 12.9% | 2025 |
| Employment in Agriculture (%) | 6.7% | 2025 |
| Employment in Industry (%) | 21.8% | 2025 |
| Employment in Services (%) | 71.5% | 2025 |
| Vulnerable Employment (%) | 8.6% | 2025 |
| Wage & Salaried Workers (% of total) | 86.3% | 2025 |
| Part-Time Employment (%) | 18.9% | 2024 |
| Employers (% of total employment) | 5.0% | 2025 |
| Labor Force, Female (% of total) | 49.8% | 2025 |
Education
| Indicator | Value | Year |
|---|---|---|
| Education Spending (% of GDP) | 4.3% | 2022 |
| Education Spending (% of govt expenditure) | 9.9% | 2022 |
| Primary School Enrollment (%) | 98.5% | 2023 |
| Secondary School Enrollment (%) | 102.1% | 2023 |
| Tertiary School Enrollment (%) | 85.7% | 2023 |
| Primary Completion Rate (%) | 97.6% | 2023 |
| Lower Secondary Completion Rate (%) | 95.0% | 2023 |
| Out-of-School Children, Primary | 2,427 | 2023 |
| Out-of-School Girls, Primary | 978 | 2023 |
| Primary School Teachers | 9,709 | 2023 |
| Secondary School Teachers | 12,747 | 2023 |
| Pupil-Teacher Ratio, Primary | 12 | 2017 |
| Pupil-Teacher Ratio, Secondary | 8 | 2017 |
| Expenditure per Student, Primary (% of GDP/cap) | 32.0% | 2016 |
Health
| Indicator | Value | Year |
|---|---|---|
| Health Spending (% of GDP) | 7.3% | 2023 |
| Health Spending per Capita (USD) | $2K | 2023 |
| Government Health Spending (% of GDP) | 4.3% | 2023 |
| Out-of-Pocket Health Spending (% of total) | 35.1% | 2023 |
| Physicians (per 1,000 people) | 3.4 | 2022 |
| Nurses & Midwives (per 1,000) | 4.4 | 2022 |
| Hospital Beds (per 1,000) | 5.0 | 2023 |
| Infant Mortality (per 1,000 live births) | 3.0 | 2023 |
| Under-5 Mortality, Female (per 1,000) | 2.7 | 2023 |
| Under-5 Mortality, Male (per 1,000) | 3.2 | 2023 |
| Cause of Death, Communicable (%) | 3.0% | 2019 |
| Cause of Death, Non-Communicable (%) | 92.0% | 2019 |
| Cause of Death, Injury (%) | 5.0% | 2019 |
| Measles Immunization (% of children) | 98.0% | 2024 |
| DPT Immunization (% of children) | 97.0% | 2024 |
| HIV Incidence (per 1,000) | 0.10 | 2024 |
| Tuberculosis Incidence (per 100,000) | 21 | 2024 |
| Stunting, Children Under 5 (%) | 0.5% | 2021 |
| Overweight, Children Under 5 (%) | 6.5% | 2021 |
| Smoking Prevalence, Males (%) | 46.6% | 2022 |
| Smoking Prevalence, Females (%) | 21.1% | 2022 |
| Suicide Mortality Rate (per 100,000) | 15.2 | 2021 |
| Alcohol Consumption (liters per capita) | 12.9 | 2020 |
Energy & Environment
| Indicator | Value | Year |
|---|---|---|
| Energy Use (kg oil eq. per capita) | 2,240 | 2023 |
| Electric Power Consumption (kWh per capita) | 3,617 | 2023 |
| Renewable Electricity Output (%) | 63.6% | 2021 |
| Renewable Energy Consumption (%) | 44.0% | 2021 |
| Access to Clean Fuels for Cooking (%) | 100.0% | 2023 |
| PM2.5 Air Pollution (µg/m³) | 11.6 | 2020 |
| Forest Area (%) | 55.0% | 2023 |
| Forest Area (sq km) | 34,224 | 2023 |
| Terrestrial Protected Areas (%) | 17.9% | 2024 |
| Marine Protected Areas (%) | 16.4% | 2024 |
| Access to Basic Drinking Water (%) | 98.8% | 2024 |
| Access to Basic Sanitation (%) | 92.5% | 2024 |
Agriculture
| Indicator | Value | Year |
|---|---|---|
| Agricultural Land (%) | 31.7% | 2023 |
| Cereal Yield (kg per hectare) | 3,558 | 2023 |
| Food Production Index (2014–2016=100) | 103.9 | 2022 |
| Crop Production Index (2014–2016=100) | 105.2 | 2022 |
| Livestock Production Index (2014–2016=100) | 102.0 | 2022 |
| Land Under Cereal Production (hectares) | 763,400 | 2023 |
| Fertilizer Consumption (kg per hectare) | 94.5 | 2023 |
| Annual Freshwater Withdrawals (% of internal) | 1.0% | 2022 |
Technology
| Indicator | Value | Year |
|---|---|---|
| Internet Users (%) | 92.7% | 2024 |
| Fixed Broadband Subscriptions (per 100) | 26.0 | 2023 |
| Secure Internet Servers (per million) | 28,218.4 | 2024 |
| R&D Spending (% of GDP) | 0.76% | 2022 |
| Patent Applications, Residents | 104 | 2021 |
| Patent Applications, Non-Residents | 4 | 2021 |
| Scientific Journal Articles | 1,690 | 2022 |
| High-Technology Exports (USD) | $1.90B | 2024 |
| ICT Service Exports (% of service exports) | 17.5% | 2024 |
| Industrial Design Applications, Resident | 84 | 2021 |
| Researchers in R&D (per million) | 2,270 | 2022 |
Infrastructure
| Indicator | Value | Year |
|---|---|---|
| Air Transport, Passengers Carried | 4.5M | 2023 |
| Air Transport, Freight (million ton-km) | 2.4 | 2023 |
| Container Port Traffic (TEU) | 471,684 | 2022 |
| Rail Lines (total km) | 1,859 | 2021 |
| Railways, Passengers (million km) | 361 | 2021 |
| Railways, Goods (million ton-km) | 7,367 | 2021 |
| Logistics Performance Index (1–5) | 3.50 | 2022 |
| Electricity from Oil (%) | 0.0% | 2023 |
| Electricity from Nuclear (%) | 0.0% | 2021 |
Gender
| Indicator | Value | Year |
|---|---|---|
| Women in Parliament (%) | 32.0% | 2024 |
| Female Labor Force Participation, 15+ (%) | 55.9% | 2024 |
| Female Wage & Salaried Workers (%) | 88.5% | 2025 |
| Girls Out-of-School Rate (%) | 99.3% | 2017 |
| Adolescent Fertility Rate (per 1,000) | 7.6 | 2023 |
| Gender Parity Index, Secondary | 1.00 | 2020 |
Governance
| Indicator | Value | Year |
|---|---|---|
| Control of Corruption | 0.70 | 2023 |
| Government Effectiveness | 0.70 | 2023 |
| Regulatory Quality | 1.17 | 2023 |
| Voice & Accountability | 0.99 | 2023 |
| Control of Corruption (percentile rank) | 74.5% | 2023 |
| Government Effectiveness (percentile rank) | 74.1% | 2023 |
| Rule of Law (percentile rank) | 83.0% | 2023 |
| Political Stability (percentile rank) | 66.8% | 2023 |
Military
| Indicator | Value | Year |
|---|---|---|
| Military Spending (% of GDP) | 3.3% | 2024 |
| Armed Forces (% of labor force) | 0.9% | 2020 |
| Intentional Homicides (per 100,000) | 2.5 | 2023 |
Poverty & Inequality
| Indicator | Value | Year |
|---|---|---|
| Poverty at $2.15/day (%) | 0.4% | 2023 |
| Poverty at $3.65/day (%) | 0.7% | 2023 |
| Poverty at $6.85/day (%) | 2.8% | 2023 |
| Gini Index | 34.0 | 2023 |
| Income Share, Top 10% | 26.2% | 2023 |
| Income Share, Bottom 10% | 2.6% | 2023 |
| Income Share, Top 20% | 41.5% | 2023 |
| Income Share, Bottom 20% | 7.2% | 2023 |
| Shared Prosperity Premium (%) | 2.8% | 2023 |
| Survey Mean Consumption (2017 PPP $ per day) | 40.02 | 2023 |
Social Protection
| Indicator | Value | Year |
|---|---|---|
| Human Capital Index (0–1) | 0.71 | 2020 |
| Human Capital Index, Female | 0.75 | 2020 |
| Human Capital Index, Male | 0.66 | 2020 |
| Learning-Adjusted Years of School | 11.0 years | 2020 |
Tourism
| Indicator | Value | Year |
|---|---|---|
| International Tourism, Arrivals | 3.2M | 2020 |
| International Tourism, Departures | 690,000 | 2020 |
Urban Development
| Indicator | Value | Year |
|---|---|---|
| Population in Largest City | 615,764 | 2025 |
| Population in Slums (% of urban) | 0.6% | 2022 |
| Rural Population Growth (%) | -1.3% | 2024 |
| Access to Safely Managed Sanitation (%) | 92.5% | 2024 |