The economy of Latvia grew by 2.5% year-on-year in the first quarter of 2026, easing from a 2.9% expansion in the previous quarter. The slowdown was mainly driven by a weaker performances in manufacturing (1.1% vs 6.8%), construction (2.8% vs 10%), human health and social work activities (2.1% vs 4.4%), and arts, entertainment, and recreation (2.7% vs 3.3%). Additionally, accommodation and food services (-1.8% vs 0.4%), information and communication (-2.4% vs 7.4%), and public administration and defence (-0.9% vs 0.9%) recorded declines, while activity declined further in transportation (-8.3% vs -5.7%). In contrast, performances strengthened in trade (5.5% vs 2.6%), real estate (3.7% vs 0.5%), and other industries (21.6% vs 2.3%). On a seasonally adjusted quarterly basis, GDP expanded 0.6% in Q1, following an upwardly revised 0.7% growth in the preceding period. source: Central Statistical Bureau of Latvia

The Gross Domestic Product (GDP) in Latvia expanded 2.50 percent in the first quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Latvia averaged 3.55 percent from 1996 until 2026, 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 June of 2026.

The Gross Domestic Product (GDP) in Latvia expanded 2.50 percent in the first quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Latvia is expected to be 2.00 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 1.50 percent in 2027 and 2.50 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-02-27 11:00 AM
GDP Growth Rate YoY
Q4 2.9% 2.6% 1.7%
2026-05-29 10:00 AM
GDP Growth Rate YoY
Q1 2.5% 2.9% 2.3%
2026-08-31 10:00 AM
GDP Growth Rate YoY
Q2 2.5% 2%


Related Last Previous Unit Reference
Full Year GDP Growth 2.10 -0.40 percent Dec 2025
GDP Growth Rate YoY 2.50 2.90 percent Mar 2026
GDP Constant Prices 7669166.00 8366988.00 EUR Thousand Mar 2026
GDP from Agriculture 197872.00 208582.00 EUR Thousand Mar 2026
GDP from Construction 287891.00 430839.00 EUR Thousand Mar 2026
GDP from Manufacturing 891822.00 867025.00 EUR Thousand Mar 2026
GDP from Mining 219988.00 156741.00 EUR Thousand Mar 2026
GDP from Public Administration 595218.00 708507.00 EUR Thousand Mar 2026
GDP from Services 1130177.00 1443602.00 EUR Thousand Mar 2026
GDP from Transport 335089.00 377430.00 EUR Thousand Mar 2026
GDP Growth Rate 0.60 0.70 percent Mar 2026
Gross Fixed Capital Formation 1534219.00 2150614.00 EUR Thousand Mar 2026
Gross National Product 9638.00 11839.00 EUR Million Mar 2026


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 2.90 14.90 -17.80 1996 - 2026 percent Quarterly
NSA

News Stream
Latvia Q1 GDP Growth Eases to 2.5%
The economy of Latvia grew by 2.5% year-on-year in the first quarter of 2026, easing from a 2.9% expansion in the previous quarter. The slowdown was mainly driven by a weaker performances in manufacturing (1.1% vs 6.8%), construction (2.8% vs 10%), human health and social work activities (2.1% vs 4.4%), and arts, entertainment, and recreation (2.7% vs 3.3%). Additionally, accommodation and food services (-1.8% vs 0.4%), information and communication (-2.4% vs 7.4%), and public administration and defence (-0.9% vs 0.9%) recorded declines, while activity declined further in transportation (-8.3% vs -5.7%). In contrast, performances strengthened in trade (5.5% vs 2.6%), real estate (3.7% vs 0.5%), and other industries (21.6% vs 2.3%). On a seasonally adjusted quarterly basis, GDP expanded 0.6% in Q1, following an upwardly revised 0.7% growth in the preceding period.
2026-05-29
Latvia Q4 GDP Growth Strongest Since 2023
The economy of Latvia expanded by 2.9% year-on-year in the fourth quarter of 2025, accelerating from an upwardly revised 2.6% growth in the previous quarter. This marked the strongest economic expansion since Q1 2023, driven primarily by robust performances in manufacturing (6.8%), construction (10.0%), trade (2.6%), information and communication (7.4%), commercial services (6.6%), human health and social work activities (4.4%), and arts, entertainment, and recreation (3.3%). In contrast, agriculture, forestry, and fishing (-8.6%), transportation and storage (-3.5%), financial and insurance activities (-1.6%), and education (-1.2%) experienced declines. On a seasonally adjusted quarterly basis, GDP rose 0.6% in Q4, slightly easing from an upwardly revised 0.8% gain in the previous quarter. For the full year 2025, Latvia’s economy expanded by 2.1%.
2026-02-27
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