Latvia's economy contracted by 3.6 percent in 2020, the most in a decade, as the COVID-19 crisis weighed on global activity and demand. source: Central Statistical Bureau of Latvia

Full Year GDP Growth in Latvia averaged 3.72 percent from 1996 until 2020, reaching an all time high of 12 percent in 2006 and a record low of -14.20 percent in 2009. This page includes a chart with historical data for Latvia Full Year GDP Growth. Latvia Full Year GDP Growth - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

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Latvia Full Year GDP Growth

Related Last Previous Unit Reference
GDP Growth Rate 3.60 -0.20 percent Mar 2022
GDP Annual Growth Rate 6.70 3.10 percent Mar 2022
GDP 33.51 34.06 USD Billion Dec 2020

Latvia Full Year GDP Growth
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
-3.60 2.50 12.00 -14.20 1996 - 2020 percent Yearly