Latvia 2023
Detailed economic analysis and indicators for 2023
Key Economic Indicators (2023)
GDP (Current USD)
$42.25 billion
↑ 11.12% vs 2022GDP per Capita
$22,502.84
↑ 11.24% vs 2022GDP Growth (Annual %)
1.71%
↓ 0.11pp vs 2022Inflation Rate (CPI %)
8.94%
↓ 8.37pp vs 2022Year-over-Year Comparison
| Indicator | 2022 | 2023 | Change |
|---|---|---|---|
| GDP (Current USD) | $38.02 billion | $42.25 billion | +11.12% |
| GDP per Capita | $20,229.46 | $22,502.84 | +11.24% |
| GDP Growth (Annual %) | 1.81% | 1.71% | -0.11pp |
| Inflation (CPI %) | 17.31% | 8.94% | -8.37pp |
| Unemployment Rate (%) | 6.82% | 6.47% | -0.35pp |
All Economic Indicators (2023)
National Accounts
- GDP (Current USD)
- $42.25 billion
- GDP per Capita
- $22,502.84
- GDP Growth (Annual %)
- 1.71%
- Gross National Income
- $43.72 billion
Prices & Employment
- Inflation (CPI %)
- 8.94%
- Inflation (GDP Deflator %)
- 6.41%
- Unemployment Rate (%)
- 6.47%
- Interest Rate (Real %)
- N/A
Trade & Investment
- Exports (Goods & Services)
- N/A
- Imports (Goods & Services)
- N/A
- FDI Inflow
- N/A
- FDI Outflow
- N/A
Balance & Debt
- Current Account Balance (% GDP)
- -3.94%
- Government Debt (% GDP)
- N/A
- Data Last Updated
- 2025-10-23
Frequently Asked Questions
As of 2023, Latvia's Gross Domestic Product (GDP) is $42.25 billion. This represents the total value of goods and services produced in the country.
The GDP per capita in Latvia for 2023 is $22,502.84. GDP per capita is calculated by dividing the country's GDP by its population.
The Consumer Price Index (CPI) inflation rate in Latvia for 2023 is 8.94%. This measures the annual percentage change in the cost of consumer goods and services.
Latvia's annual GDP growth rate for 2023 is 1.71%. This indicates the rate at which the country's economy is expanding or contracting.
The unemployment rate in Latvia for 2023 is 6.47%. This represents the percentage of the labor force that is unemployed and actively seeking employment.