ECONDEX

Economic and development data for every country, explained with the numbers checked.

Latvia

Europe & Central Asia. High income. Capital: Riga. Population 1,847,785 (2025).

Key trends

GDP per person (PPP) (constant international $)
11,270 24,755 38,239 1995 2025 38,801
GDP growth (%)
−15.5 −1.6 12.2 1995 2025 2.1
Inflation, consumer prices (% annual)
−0.6 11.9 24.5 1995 2025 3.7
Life expectancy at birth (years)
66.6 71.4 76.2 1995 2024 76.4

Indicators

Each country reports for different years, so check the year beside every figure. Rank 1 is the highest value among countries with recent data.

Economy

IndicatorLatestYear 5-yr change10-yr change RankTrend
GDP per person (PPP)constant international $ 38,801 2025 +4,575 +8,201 57 of 199
GDP growth% 2.1% 2025 +5.6 pp −1.6 pp 140 of 209
GDP per person growth% 3.2% 2025 +5.9 pp −1.5 pp 77 of 209
GNI per person (Atlas method)current US$ 24,980 2025 +7,630 +10,400 58 of 201
Trade% of GDP 129.7% 2025 +5.8 pp +3.3 pp 34 of 183
Foreign direct investment, net inflows% of GDP 0.8% 2025 −2.0 pp −2.3 pp 149 of 195

Prices and jobs

IndicatorLatestYear 5-yr change10-yr change RankTrend
Inflation, consumer prices% annual 3.7% 2025 +3.5 pp +3.6 pp 70 of 180
Unemployment (modelled ILO estimate)% of labour force 6.6% 2025 −1.5 pp −3.3 pp 67 of 186

People and health

IndicatorLatestYear 5-yr change10-yr change RankTrend
Populationpeople 1,847,785 2025 −52,664 −129,742 150 of 217
Population growth% annual −1.0% 2025 −0.3 pp −0.2 pp 209 of 217
Urban population% of total 68.6% 2025 +0.5 pp +0.7 pp 96 of 217
Life expectancy at birthyears 76.4 2024 +1.0 +2.3 95 of 217
Infant mortalityper 1,000 live births 2.2 2024 −1.1 −2.5 182 of 196
Health spending% of GDP 7.3% 2023 +0.9 pp +1.7 pp 80 of 193

Education

IndicatorLatestYear 5-yr change10-yr change RankTrend
Adult literacy rate% of people aged 15+ 99.9% 2011 * – +0.2 pp –
Government spending on education% of GDP 4.3% 2022 −0.2 pp −2.5 pp 77 of 171

Access and infrastructure

IndicatorLatestYear 5-yr change10-yr change RankTrend
Internet users% of population 92.7% 2024 +6.6 pp +16.9 pp 41 of 185
Access to electricity% of population 100.0% 2024 0.0 pp 0.0 pp 52 of 215

Inequality and poverty

IndicatorLatestYear 5-yr change10-yr change RankTrend
Gini index (inequality)index, 0 to 100 34.0 2023 −1.1 −1.5 42 of 85
Poverty headcount ratio% of population, at the World Bank international poverty line 0.4% 2023 −0.2 pp −1.1 pp 61 of 85

Environment and energy

IndicatorLatestYear 5-yr change10-yr change RankTrend
Renewable energy% of final energy consumption 44.0% 2021 +5.5 pp +8.5 pp 55 of 212

* Latest figure is too old to be included in rankings or peer medians.

Advanced metrics

Indicator Own history Versus peers (latest) Growth and catch-up
10-yr meanZ-score Income group medianRegion medianVolatility (σ) 10-yr CAGR% of high-income median10 yrs earlier
GDP per person (PPP) 34,899 +1.5 49,305 42,577 2,539 +2.4% 79% 68%
GDP growth 1.9% +0.1 2.2% 2.1% 3.0 – – –
GDP per person growth 2.6% +0.2 1.7% 1.9% 3.2 – – –
GNI per person (Atlas method) 17,607 +2.6 37,020 26,410 2,838 +5.5% 69% 53%
Trade 131.9% −0.2 100.6% 100.8% 10.8 – – –
Foreign direct investment, net inflows 3.6% −1.2 2.1% 1.9% 2.4 – – –
Inflation, consumer prices 4.0% 0.0 2.3% 3.7% 5.4 – – –
Unemployment (modelled ILO estimate) 7.8% −1.0 5.1% 5.6% 1.3 – – –
Population 1,913,446 −1.8 2,930,494 5,827,802 37,328 −0.7% 63% 75%
Population growth −0.7% −0.9 0.4% 0.3% 0.4 – – –
Urban population 68.1% +2.6 81.3% 69.3% 0.2 – – –
Life expectancy at birth 74.6 +2.6 81.3 79.9 0.7 – – –
Infant mortality 3.5 −1.7 3.6 3.4 0.7 – – –
Health spending 6.8% +0.4 8.0% 7.9% 1.2 – – –
Government spending on education 5.3% −1.0 4.5% 4.6% 1.0 – – –
Internet users 84.8% +1.3 93.5% 91.9% 5.9 – – –
Access to electricity 100.0% – 100.0% 100.0% 0.0 – – –
Gini index (inequality) 34.8 −1.2 31.8 31.8 0.7 – – –
Poverty headcount ratio 0.8% −1.0 0.4% 0.4% 0.4 – – –
Renewable energy 40.1% +1.6 11.4% 19.3% 2.4 – – –

Compare Latvia with other countries