Latvia GDP Per Capita (2026)
Latvia has a developed Baltic economy supported by services, transport, logistics, manufacturing, information technology, finance, forestry, and trade. GDP per capita provides a useful measure of how national economic production compares with the country’s relatively small population and helps track longer-term economic convergence. Explore Latvia’s latest GDP per capita data, historical trends, growth patterns, and comparisons below.
GDP Per Capita 2026
$28,913
Est. in USD
World Rank
#50
Out of 195 countries
Change vs 2025
+10.7%
+$2,797
Europe Rank
#31
Out of 43 countries
1. Latvia GDP Per Capita in 2026
Latvia’s GDP per capita reflects economic output generated for each resident across services, manufacturing, transport, technology, and trade. Adjusting total GDP for population provides a standardized measure that makes comparisons with larger and smaller economies more meaningful. It also offers insight into how productivity and economic development translate into production per person.
2. Latvia GDP Per Capita Growth (1992–2026)
3. Latvia GDP Per Capita (Historical Data)
| Year | GDP Per Capita (USD) | Annual Change |
|---|---|---|
| 2026 | $28,913 | +10.7% |
| 2025 | $26,116 | +11.1% |
| 2024 | $23,499 | +3.4% |
| 2023 | $22,725 | +12.1% |
| 2022 | $20,276 | +0.5% |
| 2021 | $20,182 | +15.4% |
| 2020 | $17,484 | +1.4% |
| 2019 | $17,242 | +0.3% |
| 2018 | $17,196 | +14.1% |
| 2017 | $15,066 | +9.4% |
| 2016 | $13,769 | +3.8% |
| 2015 | $13,266 | -12.3% |
| 2014 | $15,131 | +5.0% |
| 2013 | $14,407 | +8.6% |
| 2012 | $13,271 | +2.6% |
| 2011 | $12,934 | +16.7% |
| 2010 | $11,086 | -6.9% |
| 2009 | $11,910 | -23.9% |
| 2008 | $15,647 | +17.3% |
| 2007 | $13,339 | +45.3% |
| 2006 | $9,180 | +26.4% |
| 2005 | $7,260 | +19.5% |
| 2004 | $6,075 | +24.2% |
| 2003 | $4,892 | +22.7% |
| 2002 | $3,988 | +14.6% |
| 2001 | $3,481 | +6.8% |
| 2000 | $3,260 | +6.8% |
| 1999 | $3,053 | +5.9% |
| 1998 | $2,882 | +11.0% |
| 1997 | $2,597 | +10.6% |
| 1996 | $2,348 | +12.0% |
| 1995 | $2,096 | +25.4% |
| 1994 | $1,671 | +68.8% |
| 1993 | $990 | +61.5% |
| 1992 | $613 | — |
4. Latvia GDP Per Capita Growth
1-Year Change
+10.7%
(2025 to 2026)
5-Year Change
+43.3%
(2021 to 2026)
10-Year Change
+110.0%
(2016 to 2026)
20-Year Change
+215.0%
(2006 to 2026)
Latvia’s GDP per capita has generally increased over the longer term as productivity, wages, investment, digital activity, European integration, and exports have expanded. Inflation, energy prices, external demand, demographic trends, and regional economic conditions can influence annual performance. Historical data helps illustrate how output per resident has developed through periods of convergence, recession, recovery, and renewed growth.
5. Latvia GDP Per Capita vs Europe and World
Latvia
$28,913
Europe Average
$59,767
World Average
$25,179
$0
$29,884
$59,767
USD
Latvia’s GDP per capita is approximately
51.6%
below the
Europe average
and
14.8%
above the world average.
6. Latvia GDP Per Capita Ranking in Europe
| Rank | Country | GDP Per Capita (USD) |
|---|---|---|
| #28 | Slovakia | $31,242 |
| #29 | Croatia | $30,030 |
| #30 | Greece | $29,696 |
| #31 | Latvia | $28,913 |
| #32 | Hungary | $28,430 |
| #33 | Romania | $25,693 |
| #34 | Bulgaria | $23,848 |
7. GDP vs GDP Per Capita in Latvia
Latvia GDP (Nominal)
$53.7 Billion
(2026)
Latvia GDP Per Capita
$28,913
(2026)
Latvia’s total GDP measures the complete value of economic activity generated nationwide, while GDP per capita relates that output to population. Total GDP shows the overall scale of the Latvian economy, whereas GDP per capita provides a clearer measure of production generated for each resident. Considering both indicators together gives a broader picture of economic performance.
Explore more:
Latvia GDP
8. Latvia GDP Per Capita Forecast
| Year | GDP Per Capita (USD) | Change |
|---|---|---|
| 2027 | $30,619 | +5.9% |
| 2028 | $32,335 | +5.6% |
| 2029 | $34,017 | +5.2% |
| 2030 | $35,761 | +5.1% |
Latvia GDP per capita is projected to reach $35,761 by 2030, representing a 23.7% increase from the 2026 level.
9. Latvia GDP Per Capita: Key Findings
Latvia GDP per capita is estimated at $28,913 in 2026.
It ranks #50 globally and #31 in Europe.
GDP per capita increased by 10.7% compared with 2025.
Over the last 5 years, GDP per capita grew by 43.3%.
Over the last 10 years, GDP per capita grew by 110.0%.
It is approximately 51.6% below the Europe average.
It is approximately 14.8% above the world average.
The forecast reaches $35,761 by 2030, 23.7% above the 2026 level.
10. What Is GDP Per Capita?
GDP per capita is the total economic output of a country divided by its population.
GDP Per Capita
=
GDP
÷
Population
It helps measure the average economic output per person and is widely used to compare economic performance across countries. Higher values generally indicate greater economic output per resident.
11. Methodology and Data Sources
Primary Source:
International Monetary Fund (IMF)
Additional Sources:
World Bank,
United Nations
Population Source:
UN Population Division
Currency:
Current USD (Nominal)
Update Frequency:
Annually
Last Updated:
September 2026
12. Latvia GDP Per Capita FAQs
Latvia GDP per capita is estimated at $28,913 in 2026.
Latvia ranks #50 globally and #31 in Europe by GDP per capita.
Yes. GDP per capita increased by approximately 10.7% compared with 2025.
Latvia GDP per capita was approximately $13,266 in 2015.
Latvia GDP per capita is approximately 51.6% below the Europe average.
14. Explore GDP Per Capita
Disclaimer:
All data are estimates based on IMF, World Bank,
United Nations and related economic datasets.
Figures may differ from official national statistics.