Latvia
- Capital
- Riga
- Region
- Europe & Central Asia
- Income group
- High income
- Population
- 1.8 million (2025)
Latvia uses the euro: its interest rates are set by the European Central Bank. Monthly figures for the euro area are on the economy dashboard.
At a glance
- Prices in Latvia rose 3.8% in 2025, faster than in most countries.
- Latvia's economy grew 2.1% in 2025, slower than most economies.
- Output per person in Latvia was US$26,312 in 2025, higher than in most countries.
- 6.6% of Latvia's labour force had no job in 2025, a higher share than in most countries.
- Latvia had 1.8 million people in 2025: about less than 0.1% of everyone on Earth, the 150th largest population of 217 countries and territories.
- Latvia had a current account deficit of 5.3% of GDP in 2025, lower than in most countries.
Inflation
2025Consumer prices, change over the year (yearly average)
Since 2000
Show the numbers
| Year | Latvia | World median |
|---|---|---|
| 2025 | 3.8% | 3.0% |
| 2024 | 1.3% | 3.0% |
| 2023 | 8.9% | 5.7% |
| 2022 | 17.3% | 8.0% |
| 2021 | 3.3% | 3.5% |
| 2020 | 0.2% | 1.9% |
| 2019 | 2.8% | 2.2% |
| 2018 | 2.5% | 2.5% |
| 2017 | 2.9% | 2.3% |
| 2016 | 0.1% | 1.6% |
Economic growth
2025Real GDP, change over the year
Since 2000
Show the numbers
| Year | Latvia | World median |
|---|---|---|
| 2025 | 2.1% | 3.4% |
| 2024 | −0.0% | 3.4% |
| 2023 | −0.9% | 3.2% |
| 2022 | 1.9% | 4.3% |
| 2021 | 6.9% | 5.1% |
| 2020 | −3.5% | −3.8% |
| 2019 | 0.7% | 2.8% |
| 2018 | 4.3% | 3.2% |
| 2017 | 3.4% | 3.3% |
| 2016 | 2.6% | 3.1% |
GDP per person
2025GDP divided by population, in US dollars at current prices
Since 2000
Show the numbers
| Year | Latvia | World median |
|---|---|---|
| 2025 | US$26,312 | US$7,882 |
| 2024 | US$23,579 | US$7,853 |
| 2023 | US$22,710 | US$7,862 |
| 2022 | US$20,221 | US$7,656 |
| 2021 | US$20,262 | US$7,269 |
| 2020 | US$17,564 | US$6,433 |
| 2019 | US$17,295 | US$7,037 |
| 2018 | US$17,252 | US$6,978 |
| 2017 | US$15,132 | US$6,548 |
| 2016 | US$13,839 | US$5,982 |
Unemployment
2025Share of the labour force without a job (ILO modelled estimate)
Since 2000
Show the numbers
| Year | Latvia | World median |
|---|---|---|
| 2025 | 6.6% | 5.1% |
| 2024 | 6.9% | 5.1% |
| 2023 | 6.5% | 5.2% |
| 2022 | 6.8% | 5.3% |
| 2021 | 7.5% | 6.0% |
| 2020 | 8.1% | 6.4% |
| 2019 | 6.3% | 5.4% |
| 2018 | 7.4% | 5.4% |
| 2017 | 8.7% | 5.6% |
| 2016 | 9.6% | 5.9% |
Population
2025Everyone living in the country, mid-year
Since 2000
Show the numbers
| Year | Latvia |
|---|---|
| 2025 | 1.8 million |
| 2024 | 1.9 million |
| 2023 | 1.9 million |
| 2022 | 1.9 million |
| 2021 | 1.9 million |
| 2020 | 1.9 million |
| 2019 | 1.9 million |
| 2018 | 1.9 million |
| 2017 | 1.9 million |
| 2016 | 2.0 million |
Current account balance, % of GDP
Since 2000
Show the numbers
| Year | Latvia | World median |
|---|---|---|
| 2025 | −5.3% | −0.8% |
| 2024 | −3.5% | −1.3% |
| 2023 | −5.6% | −1.2% |
| 2022 | −7.5% | −3.0% |
| 2021 | −5.2% | −2.4% |
| 2020 | 2.4% | −1.7% |
| 2019 | −1.1% | −2.1% |
| 2018 | −1.2% | −2.9% |
| 2017 | 1.5% | −2.1% |
| 2016 | 1.8% | −2.8% |
No recent World Bank figure for Latvia: government debt.
About these figures
All numbers are yearly. The world median is the middle value of all countries with a figure for the same year: half of them are above it and half below. Sparklines show Latvia since 2000 or since its first figure.
Source: World Bank, World Development Indicators (CC BY 4.0), updated 2026-10-08. Original sources: Inflation: International Monetary Fund, International Financial Statistics; Economic growth: national statistical offices and central banks, OECD national accounts, and World Bank staff estimates; GDP per person: national statistical offices and central banks, OECD national accounts, and World Bank staff estimates; Unemployment: International Labour Organization, ILO modelled estimates (ILOSTAT); Population: United Nations Population Division (World Population Prospects) and national statistical offices; Current account balance: International Monetary Fund, Balance of Payments Statistics, with World Bank and OECD data. Yearly figures; recent years are often revised. All sources and terms.