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. source: Central Statistical Bureau of Latvia

The Gross Domestic Product (GDP) in Latvia expanded 2.50 percent in the third quarter of 2025 over the same quarter of the previous year. GDP Annual Growth Rate in Latvia averaged 3.56 percent from 1996 until 2025, reaching an all time high of 14.90 percent in the first quarter of 2007 and a record low of -17.80 percent in the third quarter of 2009. This page provides - Latvia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.

The Gross Domestic Product (GDP) in Latvia expanded 2.50 percent in the third quarter of 2025 over the same quarter of the previous year. GDP Annual Growth Rate in Latvia is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Latvia GDP Annual Growth Rate is projected to trend around 2.70 percent in 2027 and 3.20 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-08-29 10:00 AM
YoY Final
Q2 1.7% -0.3% -0.3% -0.3%
2025-11-28 11:00 AM
YoY
Q3 2.5% 0.9% 1.7% 2.0%
2026-02-27 11:00 AM
YoY
Q4 2.5% 1.7%


Related Last Previous Unit Reference
Full Year GDP Growth -0.40 2.90 percent Dec 2024
GDP Growth Rate YoY 2.50 0.90 percent Sep 2025
GDP Constant Prices 8488641.00 7897568.00 EUR Thousand Sep 2025
GDP from Agriculture 306692.00 283120.00 EUR Thousand Sep 2025
GDP from Construction 437048.00 373631.00 EUR Thousand Sep 2025
GDP from Manufacturing 890038.00 867604.00 EUR Thousand Sep 2025
GDP from Mining 154268.00 134876.00 EUR Thousand Sep 2025
GDP from Public Administration 631730.00 653935.00 EUR Thousand Sep 2025
GDP from Services 1482212.00 1261969.00 EUR Thousand Sep 2025
GDP from Transport 436541.00 389988.00 EUR Thousand Sep 2025
GDP Growth Rate 0.60 0.30 percent Sep 2025
Gross Fixed Capital Formation 2194043.00 1892316.00 EUR Thousand Sep 2025
Gross National Product 11042.00 10540.00 EUR Million Sep 2025


Latvia GDP Annual Growth Rate
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.
Actual Previous Highest Lowest Dates Unit Frequency
2.50 0.90 14.90 -17.80 1996 - 2025 percent Quarterly
NSA

News Stream
Latvia Economic Growth Accelerates in Q3
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.
2025-11-28
Latvia Economy Exits Recession in Q2
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.
2025-08-29
Latvia Q1 GDP Contracts at Softer Pace
Latvia’s economy contracted by 0.3% year-on-year in the first quarter of 2025, slowing from a 0.4% drop in the previous three-month period. This marked the fourth consecutive period of contraction but the softest pace in the sequence, as gross capital formation (18.8%) and government spending (2.2%) increased. Meanwhile, household consumption (-1.1%) declined. In terms of net external demand, imports (7.8%) rose much faster than exports (2%). On a seasonally adjusted quarterly basis, the economy contracted by 0.1% in Q1 2025, following a downwardly revised flat reading in the previous three-month period.
2025-05-30