Latvia GDP Growth Rate (2026)
Latvia has a modern Baltic economy supported by services, manufacturing, trade, logistics, and household consumption. This page examines its GDP growth trend, historical performance, regional position, and outlook.
GDP Growth Rate 2026
+2.2%
Annual real GDP growth
World Rank
#128
Out of 195 countries
Change vs 2025
+0.1 pp
2025: +2.1%
Europe Rank
#13
Out of 43 countries
1. Latvia GDP Growth Rate in 2026
Latvian economic growth is influenced by consumer demand, exports, investment, services, and European funding. Regional trade and financial conditions remain important.
2. Latvia GDP Growth Rate Trends (1993–2026)
Latvia’s growth history reflects economic transition, European integration, productivity gains, and expanding services. External trade has played a major role in shaping performance.
3. Latvia GDP Growth Rate (Historical Data)
| Year | GDP Growth Rate | Change (pp) |
|---|---|---|
| 2026 | +2.2% | +0.1 pp |
| 2025 | +2.1% | +2.1 pp |
| 2024 | 0.0% | +0.9 pp |
| 2023 | -0.9% | -2.8 pp |
| 2022 | +1.9% | -5.0 pp |
| 2021 | +6.9% | +10.4 pp |
| 2020 | -3.5% | -4.2 pp |
| 2019 | +0.7% | -3.6 pp |
| 2018 | +4.3% | +0.9 pp |
| 2017 | +3.4% | +0.8 pp |
| 2016 | +2.6% | -1.2 pp |
| 2015 | +3.8% | +1.7 pp |
| 2014 | +2.1% | 0.0 pp |
| 2013 | +2.1% | -5.2 pp |
| 2012 | +7.3% | +4.3 pp |
| 2011 | +3.0% | +6.7 pp |
| 2010 | -3.7% | +12.3 pp |
| 2009 | -16.0% | -12.6 pp |
| 2008 | -3.4% | -13.8 pp |
| 2007 | +10.4% | -2.4 pp |
| 2006 | +12.8% | +1.2 pp |
| 2005 | +11.6% | +2.9 pp |
| 2004 | +8.7% | +0.3 pp |
| 2003 | +8.4% | +0.7 pp |
| 2002 | +7.7% | +1.2 pp |
| 2001 | +6.5% | +0.7 pp |
| 2000 | +5.8% | +3.0 pp |
| 1999 | +2.8% | -3.8 pp |
| 1998 | +6.6% | -2.6 pp |
| 1997 | +9.2% | +6.9 pp |
| 1996 | +2.3% | +4.4 pp |
| 1995 | -2.1% | -4.3 pp |
| 1994 | +2.2% | +13.6 pp |
| 1993 | -11.4% | — |
4. Latvia GDP Growth Performance
Current Growth Rate
+2.2%
(2026 to 2026)
5-Year Average
+1.1%
(2022 to 2026)
10-Year Average
+1.7%
(2017 to 2026)
20-Year Average
+1.3%
(2007 to 2026)
The economy benefits from strong European links and a flexible business environment, but demographic decline and weak regional demand can constrain activity.
5. Latvia GDP Growth Rate vs Europe and World
Latvia
+2.2%
Europe Average
+1.9%
World Average
+2.8%
0.0%
1.4%
2.8%
Annual real GDP growth (%)
Latvia’s GDP growth rate is approximately
0.4 pp
above the
Europe average
and
0.6 pp
below the world average.
6. Latvia GDP Growth Rate Ranking in Europe
| Rank | Country | GDP Growth Rate |
|---|---|---|
| #9 | Bulgaria | +2.8% |
| #10 | Croatia | +2.6% |
| #11 | Ireland | +2.5% |
| #12 | Czech Republic | +2.2% |
| #13 | Latvia | +2.2% |
| #14 | Bosnia and Herzegovina | +2.2% |
| #15 | Andorra | +2.1% |
| #16 | Spain | +2.1% |
| #17 | Denmark | +2.0% |
7. Top 10 Fastest-Growing Countries in the World (2026)
8. GDP Growth Rate and Economy Size in Latvia
Latvia GDP (Nominal)
$53.7 Billion
(2026)
Latvia GDP Growth Rate
+2.2%
(2026)
Latvia often grows faster than mature Western European economies during periods of convergence. Its small, open economy remains sensitive to external shocks.
Explore more:
Latvia GDP
9. Latvia GDP Growth Rate Forecast
The outlook depends on investment, consumption, exports, and European demand. Population decline and geopolitical risks remain important challenges.
| Year | GDP Growth Rate | Change |
|---|---|---|
| 2027 | +2.4% | +0.2 pp |
| 2028 | +2.4% | 0.0 pp |
| 2029 | +2.4% | 0.0 pp |
| 2030 | +2.4% | 0.0 pp |
10. Latvia GDP Growth Rate: Key Findings
Latvia GDP growth rate is estimated at +2.2% in 2026.
It ranks #128 globally and #13 in Europe by annual GDP growth rate.
The growth rate accelerated by 0.1 percentage points compared with 2025.
The 5-year average GDP growth rate is +1.1%.
The 10-year average GDP growth rate is +1.7%.
The current rate is 0.4 percentage points above the Europe average.
The current rate is 0.6 percentage points below the world average.
The forecast GDP growth rate is +2.4% in 2030, 0.2 percentage points above the 2026 rate.
11. What Is GDP Growth Rate?
GDP growth rate measures the percentage change in a country’s real gross domestic product from one period to the next, usually year over year.
GDP Growth Rate
=
(Real GDPₜ − Real GDPₜ₋₁)
÷
Real GDPₜ₋₁ × 100
A positive rate indicates economic expansion, while a negative rate indicates contraction. Real GDP growth is preferred for growth comparisons because it adjusts for price changes.
12. Methodology and Data Sources
Primary Source:
International Monetary Fund (IMF)
Additional Source:
World Bank
Measure:
Annual percentage change in real GDP
Unit:
Percent (%)
Comparisons:
Year-to-year rate differences are shown in percentage points (pp)
Update Frequency:
Annually and when new forecasts are released
Last Updated:
September 2026
13. Latvia GDP Growth Rate FAQs
Latvia GDP growth rate is estimated at +2.2% in 2026.
Latvia ranks #128 globally and #13 in Europe by annual GDP growth rate.
The economy is expanding, with real GDP growth of approximately +2.2% in 2026.
Latvia GDP growth rate was +3.8% in 2015.
Latvia GDP growth rate is 0.4 percentage points above the Europe average.
15. Explore GDP Growth Rate
Disclaimer:
All data are estimates based on IMF, World Bank,
United Nations and related economic datasets.
Figures may differ from official national statistics.