Latvia GDP Annual Growth Rate

Last Release

Jun 30, 2025

Actual

1.7

Units In

-0.3

Frequency

Quarterly

Next Release

N/A

Time to Release

N/A

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 expanded by 2.5% year-on-year in the third quarter of 2025, accelerating from a downwardly revised 0.9% growth in the second quarter This marked the fifth consecutive quarter of growth and the fastest pace since the first quarter of 2023. Sharp increases were seen in household consumption (1.8% vs 0.1% in Q2), government spending (5.8% vs 3.2%), and gross fixed capital expenditure (10.8% vs 9.0%). However, net trade contributed negatively to the GDP, as exports (3.0%) rose less than imports (5.8%). On the production side, the strongest contribution came from manufacturing (7.3% vs 3.6%), construction (9.0% vs 5.8%), trade (3.1% vs 2.7%), and real estate activities (3.0% vs 2.1%). On a seasonally adjusted quarterly basis, GDP rose by 0.6% in the September quarter, following a downwardly revised 0.3% increase in the previous period.