GDP

GDP of Latvia in 2023 - Expenditure Approach, Sector Output, and Regional GDP

Last Updated: October 31, 2023
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GDP Summary

“Latvia with a population of had a total GDP value of US dollars (calculated in current US dollars) for the whole of 2022. The GDP per capita is 21947, and the growth rate in 2022 is 2.8%.”

Population

1.914 million

Land Size

62090 km²

GDP

41.17 billion

GDP Per Capita

21947 USD

Real GDP Growth
Note: Real GDP Growth (%) | Forecast after 2023
GDP Per Capital (Nominal)
Note: Current USD | Forecast after 2023
GDP Per Capita (PPP)
Note: PPP | Forecast after 2023

GDP Structure (Expenditure Approach)

The latest GDP update was in October 2023, updating the data on the contribution of GDP output in various sectors for the year 2022, as a proportion of the total GDP. The data is sourced from the World Bank, IMF, and local government statistics. Predictions on the sources of GDP contribution are from the EIU.

Private Consumption
60.9%
Government Expneidutre
19.2%
Capital Formation
21.8%
Export
70.5%
Import
76%
GDP Growth(By Type)
Note: Real GDP Growth (%) | Forecast after 2023

GDP Structure By Sector

The latest GDP update was in October 2023, updating the data on the contribution of GDP output in various sectors for the year 2022, as a proportion of the total GDP. The data is sourced from the World Bank, IMF, and local government statistics. Predictions on the sources of GDP contribution are from the EIU.

Agriculture
3.9%
Industry
21.3%
Manufacturing
13.9%
Service
74.6%
Economic Growth(By Sector)
Note: Real GDP Growth (%) | Forecast after 2023

Economic Development

Unemployment

6.9 %

Inflation

17.2 %

Urbanization

68.2 %

TFR

1.6 人

Unemployment Rate
Unit: %
Inflation Rate
Unit: %