Latvia GDP Annual Growth Rate

Last Release

Jun 30, 2025

Actual

1.7

Units In

-0.3

Frequency

Quarterly

Next Release

Nov 28, 2025

Time to Release

2 Months 27 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
15.1 Mar 2007	-15.6 Sep 2009	3.46 %	1996-2025	Central Statistical Bureau of Latvia

In Latvia, household consumption is the main component of GDP and accounts for 61 percent of its total use, followed by gross fixed capital formation (23 percent) and government expenditure (18 percent). Exports of goods and services account for 59 percent while imports account for 62 percent, subtracting 3 percent of total GDP.

Latest Updates

The economy of Latvia rose by 1.7% year-on-year in the second quarter of 2025, contrasting with the preliminary estimate of a -0.3% decrease and following a 0.3% fall in the previous period. This marked the first quarter of expansion after three consecutive quarters of contraction as output increase in gross capital formation (22.3%) and government spending (2.0%). Meanwhile, household consumption declined (-0.3%). In terms of net external demand, imports (7.1%) rose much faster than exports (2.3%). On a seasonally adjusted quarterly basis, the economy increased by 0.4% in Q2 2025 from 0.1% in the previous three-month period.