Latvia’s economy expanded by 3.0% year-on-year in the second quarter of 2026, following a 2.5% increase in the previous quarter. This marked the strongest economic growth since the first quarter of 2022, driven largely by stronger performances in manufacturing (5.5% vs 1.1% in Q1), construction (3.2% vs 2.8%), trade (6.4% vs 5.5%), and human health and social work activities (4.7% vs 2.1%). Moreover, declines softened in public administration and defence (-0.6% vs -0.9%) and agriculture, forestry, and fishing (-3.0% vs -3.6%), while activity rebounded in education (0.2% vs -0.6%), information and communication (8.3% vs -2.4%), and finance and insurance activities (10.4% vs -1.0%). In contrast, growth moderated in real estate (2.8% vs 3.7%) and other industries (4.3% vs 21.6%), while accommodation and food services (-2.3% vs -1.8%) contracted at a faster pace. On a seasonally adjusted quarterly basis, GDP edged up by 0.7% in Q2, following a 0.6% increase in the preceding period. source: Central Statistical Bureau of Latvia

The Gross Domestic Product (GDP) in Latvia expanded 3 percent in the second quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Latvia averaged 3.54 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 October of 2026.

The Gross Domestic Product (GDP) in Latvia expanded 3 percent in the second quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Latvia is expected to be 2.50 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 2.40 percent in 2027 and 3.20 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
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 3.0% 2.5% 2%
2026-11-30 11:00 AM
GDP Growth Rate YoY
Q3 3.0% 2.5%


Related Last Previous Unit Reference
Full Year GDP Growth 2.10 -0.40 percent Dec 2025
GDP Growth Rate YoY 3.00 2.50 percent Jun 2026
GDP Constant Prices 8131663.00 7669166.00 EUR Thousand Jun 2026
GDP from Agriculture 273406.00 197872.00 EUR Thousand Jun 2026
GDP from Construction 389250.00 287891.00 EUR Thousand Jun 2026
GDP from Manufacturing 915190.00 891822.00 EUR Thousand Jun 2026
GDP from Mining 140645.00 219988.00 EUR Thousand Jun 2026
GDP from Public Administration 646712.00 595218.00 EUR Thousand Jun 2026
GDP from Services 1343905.00 1130177.00 EUR Thousand Jun 2026
GDP from Transport 352004.00 335089.00 EUR Thousand Jun 2026
GDP Growth Rate 0.70 0.60 percent Jun 2026
Gross Fixed Capital Formation 2023957.00 1534219.00 EUR Thousand Jun 2026
Gross National Product 11249.00 9678.00 EUR Million Jun 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
3.00 2.50 14.90 -17.80 1996 - 2026 percent Quarterly
NSA

News Stream
Latvia GDP Growth Hits 4-Year High
Latvia’s economy expanded by 3.0% year-on-year in the second quarter of 2026, following a 2.5% increase in the previous quarter. This marked the strongest economic growth since the first quarter of 2022, driven largely by stronger performances in manufacturing (5.5% vs 1.1% in Q1), construction (3.2% vs 2.8%), trade (6.4% vs 5.5%), and human health and social work activities (4.7% vs 2.1%). Moreover, declines softened in public administration and defence (-0.6% vs -0.9%) and agriculture, forestry, and fishing (-3.0% vs -3.6%), while activity rebounded in education (0.2% vs -0.6%), information and communication (8.3% vs -2.4%), and finance and insurance activities (10.4% vs -1.0%). In contrast, growth moderated in real estate (2.8% vs 3.7%) and other industries (4.3% vs 21.6%), while accommodation and food services (-2.3% vs -1.8%) contracted at a faster pace. On a seasonally adjusted quarterly basis, GDP edged up by 0.7% in Q2, following a 0.6% increase in the preceding period.
2026-08-31
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