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# Latvia Economy

> Latvia economic indicators: GDP $48.6B, inflation 2.6%, unemployment 7.3%, policy rate 2.3%. 50 official series with history to 1960, from… Updated Aug 2026.

## Indicators

| Indicator | Last | Date | Previous | Highest | Lowest |
| --- | --- | --- | --- | --- | --- |
| Business Confidence | -3.30 | Aug 2026 | -3.50 | 10.70 (Feb 2007) | -43.40 (Sep 1993) |
| Consumer Confidence | -10.40 | Aug 2026 | -7.50 | 13.90 (Sep 2006) | -47.40 (Jun 2009) |
| Retail Sales MoM | 2.5% | Jul 2026 | 0.8% | 10.2% (Jan 2005) | -9.0% (Jan 2009) |
| Retail Sales YoY | 7.1% | Jul 2026 | 5.1% | 24.9% (Oct 2006) | -28.3% (Dec 2009) |
| Age-dependency ratio | 59.7% | Dec 2025 | 59.1% | 59.7% (Dec 2025) | 46.2% (Dec 2006) |
| Total fertility rate | 1.24 births per woman | Dec 2024 | 1.36 births per woman | 2.15 births per woman (Dec 1987) | 1.09 births per woman (Dec 1998) |
| Life expectancy at birth | 76.43 years | Dec 2024 | 75.43 years | 76.43 years (Dec 2024) | 65.66 years (Dec 1994) |
| Total population | 1.8M | Dec 2025 | 1.9M | 2.7M (Dec 1989) | 1.8M (Dec 2025) |
| Working-age population | 1.2M | Dec 2025 | 1.2M | 1.8M (Dec 1989) | 1.2M (Dec 2025) |
| Current account % GDP | -3.4% | Dec 2025 | -1.6% | 8.0% (Dec 2009) | -22.1% (Dec 2006) |
| Current Account Goods | $-964.3M | Mar 2026 | $-1.3B | $39.1M (Mar 1993) | $-2.0B (Sep 2007) |
| Current Account Services | $612.0M | Mar 2026 | $625.9M | $760.2M (Jun 2018) | $54.2M (Dec 1998) |
| FDI inflows | $243.7M | Dec 2025 | $1.5B | $3.7B (Dec 2021) | $-150.0M (Dec 2009) |
| Gold Reserves | $867.1M | Jul 2026 | $861.4M | $1.1B (Feb 2026) | $64.7M (Mar 2001) |
| Personal remittances, received | $1.4B | Dec 2025 | $1.3B | $1.9B (Dec 2008) | $40.8M (Dec 1996) |
| Tourism Revenues | $321.8M | Mar 2026 | $363.0M | $532.6M (Sep 2025) | $2.9M (Mar 1993) |
| CO2 emissions | 6.81 Mt CO₂ | Dec 2024 | 6.90 Mt CO₂ | 19.62 Mt CO₂ (Dec 1990) | 6.81 Mt CO₂ (Dec 2024) |
| Energy use per capita | 2,271 kg oil eq. per capita | Dec 2024 | 2,240 kg oil eq. per capita | 2,963 kg oil eq. per capita (Dec 1990) | 1,619 kg oil eq. per capita (Dec 2000) |
| Budget balance % GDP | -4.0% | Dec 2025 | -1.7% | 0.6% (Dec 2007) | -7.1% (Dec 2009) |
| Government debt % GDP | 46.9% | Dec 2025 | 46.2% | 48.2% (Dec 2010) | 9.0% (Dec 2007) |
| Military expenditure | 3.3% | Dec 2024 | 3.0% | 3.3% (Dec 2024) | 0.6% (Dec 1997) |
| Military expenditure, current USD | $1.4B | Dec 2024 | $1.3B | $1.4B (Dec 2024) | $17.7M (Dec 1993) |
| Government Spending to GDP | 45.4% | Dec 2025 | 44.0% | 45.4% (Dec 2025) | 34.4% (Dec 2003) |
| Tax revenue % GDP | 17.6% | Dec 2024 | 16.6% | 17.6% (Dec 2024) | 10.1% (Dec 1994) |
| House Price Index | 226 | Mar 2026 | 223 | 226 (Mar 2026) | 78.52 (Mar 2010) |
| House Price Index YoY | 10.9% | Mar 2026 | 10.5% | 49.6% (Mar 2007) | -42.2% (Jun 2009) |
| Policy / benchmark interest rate | 2.3% | Aug 2026 | 2.3% | 4.8% (Apr 2001) | 0.0% (Jun 2022) |
| Unemployment rate | 7.3% | Jul 2026 | 7.1% | 20.7% (Jan 2010) | 5.3% (Nov 2007) |
| Private credit / GDP | 29.3% | Dec 2024 | 28.6% | 96.6% (Dec 2010) | 28.6% (Dec 2023) |
| Official / period-average FX vs USD | 0.86 per USD | Aug 2026 | 0.88 per USD | 1.48 per USD (Mar 1985) | 0.63 per USD (Jul 2008) |
| Foreign-exchange reserves (ex-gold) | $6.1B | Dec 2025 | $5.1B | $7.9B (Dec 2013) | $526.4M (Dec 1993) |
| GDP From Agriculture | 93.7% | Jun 2026 | 94.3% | 115.9% (Jun 2019) | 55.0% (Jun 1999) |
| GDP From Construction | 107.1% | Jun 2026 | 109.2% | 197.9% (Mar 2008) | 41.5% (Mar 1995) |
| GDP, current prices, USD | $48.6B | Dec 2025 | $44.0B | $48.6B (Dec 2025) | $5.6B (Dec 1995) |
| Full-Year GDP Growth | 2.1% | Dec 2025 | -0.0% | 12.8% (Dec 2006) | -16.0% (Dec 2009) |
| GDP From Manufacturing | 128.2% | Jun 2026 | 126.1% | 139.6% (Jun 2021) | 56.0% (Jun 1995) |
| GDP per capita, PPP | Int$46,137 | Dec 2025 | Int$43,873 | Int$46,137 (Dec 2025) | Int$4,722 (Dec 1993) |
| GDP per capita, current USD | $26,312 | Dec 2025 | $23,579 | $26,312 (Dec 2025) | $2,257 (Dec 1995) |
| GDP, PPP, international $ | Int$85.3B | Dec 2025 | Int$81.9B | Int$85.3B (Dec 2025) | Int$12.1B (Dec 1993) |
| GDP From Public Administration | 128.8% | Jun 2026 | 128.0% | 128.8% (Jun 2026) | 62.3% (Jun 1996) |
| Real GDP growth, YoY | 2.5% | Mar 2026 | 2.6% | 15.0% (Mar 2007) | -17.9% (Sep 2009) |
| Inflation rate, CPI YoY | 2.6% | Jul 2026 | 3.4% | 1445.3% (Nov 1992) | -4.2% (Feb 2010) |
| Producer Prices MoM | 0.0% | Jul 2026 | 0.5% | 7.6% (Aug 2022) | -4.7% (Jan 2023) |
| Hospital beds per 1,000 | 4.95 per 1,000 people | Dec 2023 | 5.02 per 1,000 people | 14.31 per 1,000 people (Dec 1985) | 4.95 per 1,000 people (Dec 2023) |
| Health expenditure % GDP | 7.3% | Dec 2023 | 8.1% | 9.4% (Dec 2021) | 5.6% (Dec 2000) |
| ICT goods exports, % of goods exports | 7.6% | Dec 2024 | 8.2% | 11.2% (Dec 2015) | 0.9% (Dec 2000) |
| ICT service exports, % of service exports | 19.0% | Dec 2025 | 17.5% | 19.0% (Dec 2025) | 0.0% (Dec 1992) |
| Industrial production YoY | 4.7% | Dec 2025 | -3.3% | 16.7% (Dec 1997) | -21.8% (Dec 2009) |
| Research & development expenditure % GDP | 0.8% | Dec 2023 | 0.8% | 0.8% (Dec 2023) | 0.4% (Dec 1999) |
| High-technology exports, % of manufactured exports | 17.5% | Dec 2024 | 18.6% | 20.0% (Dec 2020) | 7.4% (Dec 2008) |

## Full detail pages

- [Business Confidence](/latvia/business-confidence.md)
- [Consumer Confidence](/latvia/consumer-confidence.md)
- [Retail Sales MoM](/latvia/retail-sales.md)
- [Retail Sales YoY](/latvia/retail-sales-annual.md)
- [Age Dependency Ratio](/latvia/age-dependency-ratio.md)
- [Fertility Rate](/latvia/total-fertility-rate.md)
- [Life Expectancy](/latvia/life-expectancy-at-birth.md)
- [Population](/latvia/population.md)
- [Working-Age Population](/latvia/working-age-population.md)
- [Current Account to GDP](/latvia/current-account-pct-gdp.md)
- [Current Account Goods](/latvia/current-account-goods.md)
- [Current Account Services](/latvia/current-account-services.md)
- [FDI Inflows](/latvia/fdi-inflows.md)
- [Gold Reserves](/latvia/gold-reserves.md)
- [Remittances](/latvia/personal-remittances-received.md)
- [Tourism Revenues](/latvia/tourism-revenues.md)
- [CO2 Emissions](/latvia/co2-emissions.md)
- [Energy Use per Capita](/latvia/energy-use-per-capita.md)
- [Government Budget](/latvia/budget-balance-pct-gdp.md)
- [Government Debt to GDP](/latvia/government-debt-to-gdp.md)
- [Military Expenditure](/latvia/military-expenditure.md)
- [Military Expenditure (USD)](/latvia/military-expenditure-usd.md)
- [Government Spending to GDP](/latvia/government-spending-to-gdp.md)
- [Tax Revenue to GDP](/latvia/tax-revenue-pct-gdp.md)
- [House Price Index](/latvia/house-price-index.md)
- [House Price Index YoY](/latvia/house-price-index-yoy.md)
- [Interest Rate](/latvia/interest-rate.md)
- [Unemployment Rate](/latvia/unemployment-rate.md)
- [Private Credit to GDP](/latvia/private-credit-gdp.md)
- [Exchange Rate](/latvia/exchange-rate.md)
- [Foreign Exchange Reserves](/latvia/foreign-exchange-reserves.md)
- [GDP From Agriculture](/latvia/gdp-from-agriculture.md)
- [GDP From Construction](/latvia/gdp-from-construction.md)
- [GDP](/latvia/gdp.md)
- [Full-Year GDP Growth](/latvia/full-year-gdp-growth.md)
- [GDP From Manufacturing](/latvia/gdp-from-manufacturing.md)
- [GDP per Capita PPP](/latvia/gdp-per-capita-ppp.md)
- [GDP per Capita](/latvia/gdp-per-capita-current-usd.md)
- [GDP PPP](/latvia/gdp-ppp-international.md)
- [GDP From Public Administration](/latvia/gdp-from-public-administration.md)
- [GDP Growth Rate](/latvia/gdp-growth-rate.md)
- [Inflation Rate](/latvia/inflation-rate.md)
- [Producer Prices MoM](/latvia/producer-prices-mom.md)
- [Hospital Beds](/latvia/hospital-beds-per-1-000.md)
- [Health Expenditure](/latvia/health-expenditure-pct-gdp.md)
- [ICT Goods Exports](/latvia/ict-goods-exports-share.md)
- [ICT Service Exports](/latvia/ict-service-exports-share.md)
- [Industrial Production](/latvia/industrial-production-yoy.md)
- [R&D Expenditure](/latvia/rd-expenditure-pct-gdp.md)
- [High-Tech Exports](/latvia/high-tech-exports-share.md)

## FAQ

**What is the current inflation rate in Latvia?**

Latvia's consumer price inflation is 2.6% year-on-year as of Jul 2026.

**How big is Latvia's economy?**

Latvia's nominal GDP was $48.6B in 2025.

**What is the unemployment rate in Latvia?**

Latvia's unemployment rate is 7.3% as of Jul 2026.

**Where does this data come from?**

We use primary economic sources for every country. See our methodology page for how we source and verify it.

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Full history via API: `GET https://api.economicsapi.com/v1/history?country=latvia&indicator={indicator}`. Same data as an MCP tool, one per indicator.