Latvia GDP Growth Hits 4-Year High

2026-08-31 10:19 By Mariene Camarillo 1 min. read

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.



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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.
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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.
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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%.
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