The gross domestic product (GDP) per capita in Latvia amounted to about 23.24 thousand U.S. dollars in 2024. Between 1992 and 2024, the GDP per capita rose by approximately 22.63 thousand U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP per capita will steadily rise by around 8.66 thousand U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.This indicator describes the gross domestic product per capita at current prices. Thereby, the gross domestic product was first converted from national currency to U.S. dollars at current exchange rates and then divided by the total population. The gross domestic product is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).

The Gross Domestic Product per capita in Latvia was last recorded at 16951.36 US dollars in 2024. The GDP per Capita in Latvia is equivalent to 134 percent of the world's average. This dataset provides the latest reported value for - Latvia GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

GDP per capita, PPP (current international $) in Latvia was reported at 41492 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Latvia - GDP per capita, PPP (current international $) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

GDP per capita (current US$) in Latvia was reported at 22503 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Latvia - GDP per capita - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

The Gross Domestic Product per capita in Latvia was last recorded at 38936.05 US dollars in 2024, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Latvia, when adjusted by Purchasing Power Parity is equivalent to 219 percent of the world's average. This dataset provides the latest reported value for - Latvia GDP per capita PPP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Latvia Private Consumption: % of GDP

• Latvia Private Consumption accounted for 55.7 % of its Nominal GDP in Dec 2024, compared with a ratio of 60.5 % in the previous quarter.
• Latvia Private Consumption contribution to Nominal GDP ratio is updated quarterly, available from Mar 1995 to Dec 2024, with an average share of 60.6 %.
• The data reached an all-time high of 74.5 % in Mar 1996 and a record low of 51.6 % in Jun 2020.

CEIC calculates Private Consumption as % of Nominal GDP from quarterly Private Consumption Expenditure and quarterly Nominal GDP. The Central Statistical Bureau of Latvia provides Private Consumption Expenditure in EUR and Nominal GDP in EUR.


Related information about Latvia Private Consumption: % of GDP

• In the latest reports, Latvia GDP expanded 0.4 % YoY in Mar 2023.
• Its Nominal GDP reached 11.1 USD bn in Mar 2023.
• Latvia GDP Per Capita reached 21,776.3 USD in Dec 2022.
• Its Gross Savings Rate was measured at 21.4 % in Dec 2024.

GDP per capita (constant 2015 US$) in Latvia was reported at 16704 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Latvia - GDP per capita (constant 2000 US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Key information about Latvia Investment: % of GDP

• Latvia Investment accounted for 23.2 % of its Nominal GDP in Dec 2024, compared with a ratio of 24.4 % in the previous quarter.
• Latvia investment share of Nominal GDP data is updated quarterly, available from Mar 1992 to Dec 2024, with an average ratio of 24.6 %.
• The data reached an all-time high of 48.1 % in Sep 2007 and a record low of 2.8 % in Mar 1993.

CEIC calculates Investment as % of Nominal GDP from quarterly Nominal Gross Capital Formation and quarterly Nominal GDP. The Central Statistical Bureau of Latvia provides Nominal Gross Capital Formation in EUR and Nominal GDP in EUR. Investment as % of Nominal GDP prior to Q1 1995 is sourced from the International Monetary Fund.


Related information about Latvia Investment: % of GDP

• In the latest reports, Latvia GDP expanded 0.4 % YoY in Mar 2023.
• Latvia Nominal GDP reached 11.1 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 9.5 % in Mar 2023.
• Latvia GDP Per Capita reached 21,776.3 USD in Dec 2022.
• Its Gross Savings Rate was measured at 21.4 % in Dec 2024.

GDP per capita, PPP (constant 2017 international $) in Latvia was reported at 38368 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Latvia - GDP per capita, PPP (constant 2005 international $) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Key information about Latvia Public Consumption: % of GDP

• Latvia Public Consumption accounted for 22.9 % of its Nominal GDP in Dec 2024, compared with a share of 19.2 % in the previous quarter.
• Latvia Public Consumption share of Nominal GDP ratio is updated quarterly, available from Mar 1992 to Dec 2024, with an average number of 19.2 %.
• The data reached an all-time high of 25.4 % in Dec 1993 and a record low of 7.1 % in Mar 1992.

CEIC calculates Government Consumption as % of Nominal GDP from quarterly Government Consumption Expenditure and quarterly Nominal GDP. The Central Statistical Bureau of Latvia provides Government Consumption Expenditure in EUR and Nominal GDP in EUR. Government Consumption as % of Nominal GDP prior to Q1 1995 is sourced from the International Monetary Fund.


Related information about Latvia Public Consumption: % of GDP

• In the latest reports, Latvia GDP expanded 0.4 % YoY in Mar 2023.
• Latvia Nominal GDP reached 11.1 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 9.5 % in Mar 2023.
• Latvia GDP Per Capita reached 21,776.3 USD in Dec 2022.
• Its Gross Savings Rate was measured at 21.4 % in Dec 2024.
• For Nominal GDP contributions, Investment accounted for 23.2 % in Dec 2024.
• Private Consumption accounted for 55.7 % in Dec 2024.

GDP per person employed (constant 2017 PPP $) in Latvia was reported at 79782 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Latvia - GDP per person employed (constant 1990 PPP $) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

The per capita consumer spending on restaurants and hotels in Latvia was forecast to continuously increase between 2024 and 2029 by in total 205.1 U.S. dollars (+25.8 percent). After the ninth consecutive increasing year, the restaurants- and hotels-related per capita spending is estimated to reach 1,000.13 U.S. dollars and therefore a new peak in 2029. Consumer spending, in this case per capita spending concerning restaurants and hotels, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs) in the selected region. Spending by corporations or the state is not included. Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). The shown data adheres broadly to group 11. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.Find more key insights for the per capita consumer spending on restaurants and hotels in countries like Lithuania and Estonia.

The international tourism expenditure per capita in Latvia was forecast to continuously increase between 2024 and 2029 by in total 315.2 U.S. dollars (+24.24 percent). After the twenty-first consecutive increasing year, the expenditure is estimated to reach 1,615.34 U.S. dollars and therefore a new peak in 2029. Covered are expenditures of international outbound visitors to other countries from the selected region, including payments to foreign carriers for international transport. Domestic tourism expenditures are not included. The forecast has been adjusted for the expected impact of COVID-19.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than 150 countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).Find more key insights for the international tourism expenditure per capita in countries like Estonia and Lithuania.

The international tourism receipts per capita in Latvia were forecast to continuously increase between 2024 and 2029 by in total 185.1 U.S. dollars (+20.7 percent). After the twenty-first consecutive increasing year, the receipts per capita is estimated to reach 1,079.1 U.S. dollars and therefore a new peak in 2029. Receipts denote expenditures by inbound tourists from other countries. Domestic tourism expenditures are not included. The forecast has been adjusted for the expected impact of COVID-19. The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than 150 countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).Find more key insights for the international tourism receipts per capita in countries like Estonia and Lithuania.

Key information about Latvia Gross Savings Rate

• Latvia Gross Savings Rate was measured at 21.4% in Dec 2024, compared with 21.4% in the previous quarter.
• Latvia Gross Savings Rate is updated quarterly, with data available from Mar 1995 to Dec 2024, and an average rate of 21.4%.
• The data reached an all-time high of 21.4% in Sep 2007 and a record low of 3.6% in Mar 1996.
• CEIC calculates Gross Domestic Savings Rate from quarterly Gross Domestic Savings and quarterly Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. Final Consumption Expenditure is the sum of Household, NPISHs and General Government Consumption Expenditure. The Central Statistical Bureau of Latvia provides Final Consumption Expenditure in EUR and Nominal GDP in EUR.
• In the latest reports, Latvia GDP expanded 0.4% YoY in Mar 2023.
• Latvia Nominal GDP reached 11,099.8 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 9.5% in Mar 2023.
• Latvia GDP Per Capita reached 21,776.3 USD in Dec 2022.

The per capita consumer spending on restaurants and hotels in Lithuania was forecast to continuously increase between 2024 and 2029 by in total 472.8 U.S. dollars (+56.86 percent). After the ninth consecutive increasing year, the restaurants- and hotels-related per capita spending is estimated to reach 1,304.37 U.S. dollars and therefore a new peak in 2029. Consumer spending, in this case per capita spending concerning restaurants and hotels, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs) in the selected region. Spending by corporations or the state is not included. Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). The shown data adheres broadly to group 11. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.Find more key insights for the per capita consumer spending on restaurants and hotels in countries like Estonia and Latvia.

Key information about Latvia Gross Fixed Capital Formation

• Latvia Gross Fixed Capital Formation was reported at 2.765 USD bn in Dec 2024.
• This records a decrease from the previous number of 2.896 USD bn for Sep 2024.
• Latvia Gross Fixed Capital Formation data is updated quarterly, averaging 1.445 USD bn from Mar 1995 to Dec 2024, with 120 observations.
• The data reached an all-time high of 3.503 USD bn in Dec 2007 and a record low of 118.017 USD mn in Mar 1995.
• Latvia Gross Fixed Capital Formation data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Gross Fixed Capital Formation: USD: Quarterly.

CEIC converts quarterly Gross Fixed Capital Formation into USD. The Central Statistical Bureau of Latvia provides Gross Fixed Capital Formation in EUR. Federal Reserve Board average market exchange rate is used for currency conversions.