What is the GDP of Latvia?

Latvia's GDP is approximately $43.7 billion USD. The GDP growth rate is 0%.

What is the population of Latvia?

Latvia has a population of approximately 1.9 million people. The population growth rate is -0.9%.

What is the inflation rate in Latvia?

The inflation rate in Latvia is 1.3%.

What is the unemployment rate in Latvia?

The unemployment rate in Latvia is 6.6%.

What is the GDP per capita of Latvia?

Latvia's GDP per capita is approximately $23,409 USD.

Is Latvia a good country to invest in?

Latvia has an investment score of 72/100, classified as "Moderate" risk. Key sectors include Timber & Wood, IT & Services, Transport & Logistics. Credit rating: NR.

How open is Latvia's economy to trade?

Latvia's trade openness (trade as % of GDP) is 132%. Exports total approximately $28.5B and imports $29.2B.

How much foreign investment does Latvia attract?

Foreign direct investment (FDI) in Latvia is 3.5% of GDP. This indicates strong foreign investor interest.

What are the main economic sectors in Latvia?

Latvia's economy is composed of services (65% of GDP), industry (18% of GDP), and agriculture (4% of GDP).

Can I start a business in Latvia as a foreigner?

Latvia offers various options for foreign entrepreneurs. Visit our business setup guide for Latvia for detailed information on entity types, registration steps, costs, tax rates, and foreign ownership rules.

Is Latvia's economy growing?

Latvia's GDP growth rate is 0%. The economy is currently contracting.

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Latvia Economy Overview

Name: Latvia Economic Data
Creator: NationsData
License: https://datacatalog.worldbank.org/public-licenses#cc-by

Europe & Central AsiaHigh IncomeCapital: RigaLVA

Moderate

Shrinking

43.7B USD

GDP (Nominal)

Growing at 0%

$23,409

GDP Per Capita

High income level

1.9M

Population

-0.9% annual growth

Stable

1.3%

Inflation

Price stability

132%of GDP

Trade Openness

Strong

3.5%of GDP

FDI Inflows

Public Debt

High

6.6%

Unemployment

Deficit

-$0.7B

Trade Balance

GDP

Billion USD, nominal

$43.7B

2024+0.9B

GDP Growth

Annual %

-0%

2024+0.9%

Inflation

Consumer prices, annual %

1.3%

2024-7.6%

Population

Millions

1.9M

2024-0.0M

Economic Structure

Services65%

Industry18%

Agriculture4%

Investment Score Breakdown

Economic Health (30%)70

Political Safety (25%)75

Business Climate (20%)72

Financial Strength (15%)70

Growth Potential (10%)68

Key Sectors

Timber & Wood

5.8% of GDP

stable

IT & Services

7.2% of GDP

growing

Transport & Logistics

8.5% of GDP

stable

Manufacturing

12.5% of GDP

stable

Should I Invest in Latvia?

BuySetup: ModerateROI: Moderate

Latvia scores 72/100 on the NationsData Investment Index, rated "Moderate". Growth is subdued at 2%.

Investment Score72/100

GDP Growth2%

Inflation3.2%

FDI/GDP2.8%

Public Debt43.8%

Political Stability0.4

Strengths

+Good political stability and rule of law
+Favorable business climate with reasonable regulation
+Highly trade-open economy (122.5%) - global market access

Risks

Also Consider

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