Latvia
Capital: RigaRegion: Europe & Central AsiaIncome: High income
Latvia's GDP is $52.25B (2026), with a population of 1.9M, and GDP per capita of $28,024. Key indicators include real GDP growth of 2.2%, inflation at 2.6%, unemployment at 6.6%, government debt at 47.4% of GDP, life expectancy of 75.7 years. Data sourced from the IMF World Economic Outlook and World Bank World Development Indicators. Explore Latvia's full economic profile with 440+ indicators, interactive charts, and historical data below.
Source: IMF World Economic Outlook
Economy
Financial Markets
| Indicator | Value | Year |
|---|---|---|
| Central Bank Policy Rate (%) | 2.26% | 2025 |
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 |
| Government Expenditure (% of GDP) | 34.2% | 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 |
| PPP Conversion Factor | 0.5 | 2024 |
Trade
| Indicator | Value | Year |
|---|---|---|
| Trade (% of GDP) | 132.3% | 2024 |
| Exports of Goods & Services (% of GDP) | 65.3% | 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 |
| Firms Offering Training (%) | 43.3% | 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 |
| Old-Age Dependency Ratio (%) | 34.6% | 2024 |
| Youth Dependency Ratio (%) | 24.5% | 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 |
| Self-Employed (%) | 61.1% | 2024 |
| 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 |
| Employment to Population Ratio (%) | 56.5% | 2025 |
| Self-Employed (% of total) | 13.7% | 2025 |
| NEET Youth (% not in education/employment) | 9.0% | 2024 |
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 |
| Pupil-Teacher Ratio (Primary) | 94.7 | 2021 |
| Education Spending, Secondary (% of govt) | 33.4% | 2016 |
| Education Spending, Tertiary (% of govt) | 16.0% | 2016 |
Health
Energy & Environment
| Indicator | Value | Year |
|---|---|---|
| CO₂ Emissions (tonnes per capita) | 3.6 | 2024 |
| CO₂ Emissions (total kilotonnes) | 7 | 2024 |
| 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 Electricity (%) | 100.0% | 2023 |
| 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 |
| Arable Land (%) | 21.9% | 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 | 2022 |
| Land Under Cereal Production (hectares) | 763,400 | 2023 |
| Total Fisheries Production (metric tonnes) | 66,838 | 2023 |
| Fertilizer Consumption (kg per hectare) | 94.5 | 2023 |
| Prevalence of Undernourishment (%) | 2.5% | 2023 |
| Annual Freshwater Withdrawals (% of internal) | 1.0% | 2022 |
| Cereal Production (metric tons) | 2.7M | 2023 |
Technology
| Indicator | Value | Year |
|---|---|---|
| Internet Users (%) | 92.7% | 2024 |
| Mobile Subscriptions (per 100 people) | 120 | 2023 |
| Fixed Broadband Subscriptions (per 100) | 26 | 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 |
| ICT Service Exports (USD) | $1.47B | 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, Primary | 99.58 | 2017 |
| Gender Parity Index, Secondary | 1.00 | 2020 |
| Gender Parity in Primary Education | 1.00 | 2020 |
Governance
| Indicator | Value | Year |
|---|---|---|
| Control of Corruption | 0.7 | 2023 |
| Government Effectiveness | 0.7 | 2023 |
| Political Stability | 0.59 | 2023 |
| Regulatory Quality | 1.17 | 2023 |
| Rule of Law | 1.04 | 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 |
| Military Expenditure (USD) | $1.43B | 2024 |
| Armed Forces Personnel | 9,000 | 2020 |
| Armed Forces (% of labor force) | 0.9% | 2020 |
| Military Spending (% of govt expenditure) | 7.5% | 2024 |
| 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 |
| Poverty Headcount, National (%) | 22.5% | 2022 |
| Gini Index | 34 | 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 |
| Poverty Gap at $2.15/day (%) | 0.3% | 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 |
|---|---|---|
| Urban Population Growth (%) | -0.8% | 2024 |
| Population in Largest City | 615,764 | 2025 |
| Population in Largest City (% of urban) | 48.6% | 2025 |
| Population in Slums (% of urban) | 0.6% | 2022 |
| Rural Population Growth (%) | -1.3% | 2024 |
| Access to Safely Managed Drinking Water (%) | 97.0% | 2024 |
| Access to Safely Managed Sanitation (%) | 92.5% | 2024 |
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