Latvia
#101 economy by nominal GDP · Europe & Central Asia · High income
GDP
$48.62B
Latvia accounts for 0.04% of the tracked GDP on Open Market Rank. Its GDP is 1.01× Libya’s.
World Bank ·2025 data ·Snapshot Oct 11, 2026
Source: World Bank · 2021–2025
Latvia GDP moved from $38.2B to $48.6B.
Source: World Bank · 2016–2025
Latvia GDP moved from $27.1B to $48.6B.
Source: World Bank · 2001–2025
Latvia GDP moved from $8.2B to $48.6B.
Source: World Bank · 2001–2025
Latvia GDP moved from $8.2B to $48.6B.
Key indicators
GDP per person
$26,312
2025
Real GDP growth
+2.14%
2025
Population
1.8M
2025
National wealth
$307B
Latest available estimate
Inflation
3.75%
2025
Unemployment
6.57%
2025
Life expectancy
76.4 years
2025
Foreign reserves
$6.1B
2025
How it compares
Nearby in the economies ranking — open any of them side by side.
Indicators over time
Population
PeopleSource: World Bank · 2001–2025
Latvia population changed from 2,337,170 in 2001 to 1,847,785 in 2025.
Inflation
Annual %Source: World Bank · 2001–2025
Latvia inflation changed from 2.49% in 2001 to 3.75% in 2025.
About Latvia
Latvia is ranked #101 among the economies tracked by Open Market Rank based on nominal GDP. Its latest available GDP is $48.6B, representing 0.04% of tracked global GDP. Real GDP changed by 2.14% in 2025.
GDP measures economic output during a year. It is different from national wealth, which estimates the value of accumulated assets.
Data & sources
Source: World Bank. The reporting date of a data point is different from the time Open Market Rank refreshed this page. Economic indicators are published on their own schedules, while market prices and exchange rates may update much more frequently.
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