Latvia, is a country located at Northern Europe, it has an area of 64,590 Km2 and it may be considered quite a small country.

Latvia, with a population of 1,856,932 people, it is one of the least populous country in the world and it has a moderate population density, 29 people per km2.

It's capital is Riga and its currency is Euros

Latvia is holding the 100 position by nominal GDP. Its national debt in 2024 was 18,802 millions of euros (20,343 millions of dollars), ( 46.6% debt-to-GDP ratio) and its public debt per capita is €10,125 euros per inhabitant$10,955 dollars per inhabitant.

The last annual rate of CPI published in Latvia was on December of 2025 and it was 3.5%.

In terms of the human development index (HDI) of Latvia, which is the index used by the United Nations to measure the progress of a country, was 0.879 points in 2022, leaving it in 38th place in the table of 193 countries published.

If the reason to visit Latvia are business, you must know it's in the 19th of the Doing Business ranking , which provides objective measures of business regulations for local firms.

In the tables at the bottom of the page, you can see more information about the economy and demography of Latvia, if you want to see information about other countries click here

Riga: Monthly Temp.
Riga: Monthly Rainfall
Latvia Economy
Gouvernement
GDP Growth (%) [+]20240%
Qu. GDP Per Capita [+]2025Q35,760K
Annual GDP [+]2024€40,359M
Annual GDP [+]2024$43,684M
GDP per capita [+]2024€21,640
GDP per capita [+]2024$23,243
Quarterly GDP [+]2025Q3€10,696M
Debt (M.€.) [+]202418,802
Debt ($M) [+]202420,343
Debt (%GDP) [+]202446.60%
Debt Per Capita [+]2024€10,125
Debt Per Capita [+]2024$10,955
Deficit (M.€) [+]2024-732
Deficit ($M) [+]2024-793
Deficit (%GDP) [+]2024-1.80%
Expenditure (M.€) [+]202418,418.9
Expenditure ($M) [+]202419,346.4
Education Expenditure (M.€) [+]20221,558.7
Education Expenditure ($M) [+]20221,642.1
Education Expenditure (%Bud.) [+]20229.92%
Gov. Health Exp. (M.€) [+]20241,847,488,000.0
Gov. Health Exp.($M) [+]20241,999,684,061.4
Gov. Health Exp. (%Bud.) [+]20239.91%
Defence Expenditure (M.€) [+]20241,314.9
Defence Expenditure ($M) [+]20241,423.2
Defence Expenditure (%Bud.) [+]20247.49%
Expenditure (%GDP) [+]202445.60%
Expenditure Per Capita [+]2024€9,919
Expenditure Per Capita [+]2024$10,418
Education Expenditure P.C [+]2022€826
Education Expenditure P.C [+]2022$876
Gov. Health Exp. P.C. [+]2024€987
Gov. Health Exp. P.C. [+]2024$1,068
Defence Expenditure P.C. [+]2024€705
Defence Expenditure P.C. [+]2024$757
Moody's Rating [+]01/26/2024A3
S&P Rating [+]05/31/2024A
Fitch Rating [+]04/10/2020A-
Corruption Index [+]202360
Competitiveness Ranking [+]201941º
Fragile States Index [+]202441.4
RTI Raking [+]2024107º
Innovation Ranking [+]202442º
Labour
Unemployment Rate [+]November 20257.1%
Unemployment rate [+]2025Q36.9%
Unemployed [+]2025Q366K
NMW [+]2025$839.1
NMW [+]2025€740.0
Average Wage [+]2024$21,838
Average Wage [+]2024€20,176
Human Capital Ranking [+]201728º
Markets
US Dollar exchange rate [+]01/20/20260.8527
Stock ExchangeYTD % [+]01/21/20260.50%
Prices
CPI (overall index) [+]December 20253.5%
HICP [+]December 20253.4%
PPI Year on Year [+]November 20251.4%
Money Market
Key rates [+]06/11/20252.15%
Business
Doing Business [+]202019º
IPI Year on Year [+]November 20256.9%
Passengers vehicles Year [+]December 202433,318
Annual Vehicles/ 1,000 p. [+]December 202211.20
Vehicles / 1,000 people [+]2021457.35
Taxes
Tax Revenue (%GDP) [+]202435.4%
Standard VAT [+]07/01/201221.00%
Top tax rate + SSC [+]202231.4%
Trade
Annual arrivals [+]2021478,000
Exports [+]2024€19,073.9M
Exports [+]2024$20,645.2M
Exports % GDP [+]202447.26%
Imports [+]2024€21,917.7M
Imports [+]2024$23,723.3M
Imports % GDP [+]202454.31%
Trade balance [+]2024€-2,843.7M
Trade balance [+]2024$-3,078.1M
Trade balance % GDP [+]2024-7.05%
Retail Sales YoY [+]November 20252.9%
Socio-Demography
Global AgeWatch Ranking [+]201535º
Density [+]202429
Global Peace Ranking [+]202430º
Crude divorce rate [+]20232.80‰
Remittance received ($M) [+]20171,090.0
% Immigrant [+]202012.65%
% Emigrant [+]202020.07%
Birth Rate [+]20246.90‰
Remittance sent ($M) [+]2017335.2
Crude death rate [+]202414.30‰
Fertility Rate [+]20231.36
Crude marriage rate [+]20235.60‰
% risk of poverty [+]202421.6%
Population [+]20241,856,932
Immigrant stock [+]2020239,422
Emigrant stock [+]2020380,010
HDI [+]20220.879
Gender Gap Ranking [+]202430º
Life expectancy [+]202476.70
Suicides [+]2023267
Suicide rate [+]202314.20
Number of homicides [+]202347
Rate Homicides per 100.000 [+]20232.50
Energy and Environment
CO2 Tons per capita [+]20233.56
Consumption GWh [+]20236,664
Generation GWh [+]20236,202
Others
COVID-19 - Deaths [+]12/28/20257,679
COVID-19 - Confirmed [+]12/28/2025977,788
Fully vaccinated [+]07/11/20221,305,976
COVID-19 - Deaths per million population [+]12/28/20254,135.32
Doses administered [+]12/23/20232,979,624