Economy

Latvia

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GDP per capita19952024
2.26K7.54K12.8K18.1K23.4K19952024
Source: World Bank WDI
Private credit (% of GDP)20102020
34.449.464.579.694.720102020
Source: WB GFDD
IndicatorValue
GDP (nominal)43,700,000,000 US$World Bank WDI [2024]
GDP (PPP)81,000,000,000 US$World Bank WDI [2024]
GDP growth-0.0461 %World Bank WDI [2024]
GDP per capita23,400 US$World Bank WDI [2024]
Inflation (CPI)1.27 %World Bank WDI [2024]
Unemployment6.57 %World Bank WDI [2025]
Exports of goods & services28,500,000,000 US$World Bank WDI [2024]
Imports of goods & services29,200,000,000 US$World Bank WDI [2024]
Agriculture (% GDP)4.04 %World Bank WDI [2024]
Industry (% GDP)18.5 %World Bank WDI [2024]
Services (% GDP)64.6 %World Bank WDI [2024]
Industriesprocessed foods, processed wood products, textiles, processed metals, pharmaceuticals, railroad cars, synthetic fibers, electronicsCIA World Factbook [2025] · 2026 archive
Agricultural productswheat, milk, rapeseed, barley, oats, potatoes, rye, beans, peas, chicken (2023); note: top ten agricultural products based on tonnageCIA World Factbook [2025] · 2026 archive
Export commoditieswood, wheat, broadcasting equipment, packaged medicine, natural gas (2023); note: top five export commodities based on value in dollarsCIA World Factbook [2025] · 2026 archive
Export partnersLithuania 19%, Estonia 6%, Russia 6%, Germany 6%, Sweden 5% (2023); note: top five export partners based on percentage share of exportsCIA World Factbook [2025] · 2026 archive
Import partnersLithuania 18%, Germany 11%, Poland 10%, Estonia 8%, Finland 5% (2023); note: top five import partners based on percentage share of importsCIA World Factbook [2025] · 2026 archive
Gini index34 indexWorld Bank WDI [2023]
GDP per capita (1913)No authoritative open source found
Leading mineral commodityaggregates, primary (9,451,983 tonnes (metric), 2023)BGS World Mineral Statistics [2023]
Wealth share of top 10%0.606 %World Inequality Database [2024]
Wealth share of top 1%0.286 %World Inequality Database [2024]
Gini (WID)1–34 indexWorld Inequality Database [2024] 1 index·World Bank WDI [2023] 34 index
EU-registered geographic indications5EU eAmbrosia GI [2026]
GI product categories146 / 147 / 148 / 153EU eAmbrosia GI [2026]
Top export partnersLithuania (17.8%) / Estonia (9.2%) / Germany (6.1%) / United Kingdom (5.7%) / Russian Federation (5.5%)CEPII BACI [2024]
Top import partnersLithuania (19.5%) / Germany (10.8%) / Poland (10.5%) / Estonia (7.7%) / Finland (5.6%)CEPII BACI [2024]
Top agricultural productsCereals, primary / Wheat / Milk, Total / Raw milk of cattle / Hen eggs in shell, freshFAOSTAT [2024]
Bank assets (% of GDP)35.4 %WB GFDD [2021]
Private credit (% of GDP)34.4 %WB GFDD [2020]
Stock market capitalization (% of GDP)No authoritative open source found
Financial account ownership95 %WB Findex [2024]
Mobile-money accountNo authoritative open source found
Borrowed from a bank22.7 %WB Findex [2021]
Poverty headcount ($2.15/day)No authoritative open source found
Poverty headcount ($6.85/day)No authoritative open source found
Standard VAT rate21 %EU VAT Rates [2026]
SEPA participants50 SEPA participantsSEPA Participants [2026]
TARGET T2 participants14 TARGET T2 participantsECB T2 Participants [2026]
EBA-listed payment institutions
  • 162 EBA-listed payment institutions
EBA PSD2 Register [2026]
ECB-listed MFIs39 ECB-listed MFIsECB MFI List [2026]

Section metadata

Data year2026
EditionDatabook 2026
Coverage35/40
LicenseCC-BY
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Datasets on this page
  • World Bank WDI
    world_bank_wdi
    Edition: 2024
  • CIA World Factbook
    cia_factbook
    Edition: 2025
  • BGS World Mineral Statistics
    bgs_world_minerals
    Edition: 2023
  • World Inequality Database
    world_inequality_database
    Edition: 2026
  • EU eAmbrosia GI
    eambrosia_gi
    Edition: 2026
  • CEPII BACI
    cepii_baci_trade
    Edition: 2026
  • FAOSTAT
    faostat
    Edition: 2026
  • WB GFDD
    world_bank_gfdd
    Edition: 2022
  • WB Findex
    world_bank_global_findex
    Edition: 2025
  • EU VAT Rates
    vat_rates
    Edition: 2026
  • SEPA Participants
    sepa_participants
    Edition: 2026
  • ECB T2 Participants
    target_participants
    Edition: 2026
  • EBA PSD2 Register
    eba_payment_institutions
    Edition: 2026
  • ECB MFI List
    ecb_mfi_list
    Edition: 2026
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About this data

Latvia's economy on Databook compiles 35 indicators from 14 open datasets including World Bank WDI, CIA World Factbook, BGS World Mineral Statistics. Key figures include gdp (nominal) (43,700,000,000 US$), gdp (ppp) (81,000,000,000 US$). Data is referenced to 2026. Every value carries its source and publication year, published under open licenses.