Latvia 2024
Detailed economic analysis and indicators for 2024
Key Economic Indicators (2024)
GDP (Current USD)
$43.74 billion
↑ 3.54% vs 2023GDP per Capita
$23,299.68
↑ 3.54% vs 2023GDP Growth (Annual %)
3.54%
↑ 1.83pp vs 2023Inflation Rate (CPI %)
1.27%
↓ 7.67pp vs 2023Year-over-Year Comparison
| Indicator | 2023 | 2024 | Change |
|---|---|---|---|
| GDP (Current USD) | $42.25 billion | $43.74 billion | +3.54% |
| GDP per Capita | $22,502.84 | $23,299.68 | +3.54% |
| GDP Growth (Annual %) | 1.71% | 3.54% | +1.83pp |
| Inflation (CPI %) | 8.94% | 1.27% | -7.67pp |
| Unemployment Rate (%) | 6.47% | 6.72% | +0.26pp |
All Economic Indicators (2024)
National Accounts
- GDP (Current USD)
- $43.74 billion
- GDP per Capita
- $23,299.68
- GDP Growth (Annual %)
- 3.54%
- Gross National Income
- N/A
Prices & Employment
- Inflation (CPI %)
- 1.27%
- Inflation (GDP Deflator %)
- N/A
- Unemployment Rate (%)
- 6.72%
- 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)
- N/A
- Government Debt (% GDP)
- N/A
- Data Last Updated
- 2025-10-23
Frequently Asked Questions
As of 2024, Latvia's Gross Domestic Product (GDP) is $43.74 billion. This represents the total value of goods and services produced in the country.
The GDP per capita in Latvia for 2024 is $23,299.68. GDP per capita is calculated by dividing the country's GDP by its population.
The Consumer Price Index (CPI) inflation rate in Latvia for 2024 is 1.27%. This measures the annual percentage change in the cost of consumer goods and services.
Latvia's annual GDP growth rate for 2024 is 3.54%. This indicates the rate at which the country's economy is expanding or contracting.
The unemployment rate in Latvia for 2024 is 6.72%. This represents the percentage of the labor force that is unemployed and actively seeking employment.