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 1,871,882 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 99 position by nominal GDP. Its national debt in 2024 was 18,800 millions of euros (20,607 millions of dollars), ( 46.8% debt-to-GDP ratio) and its public debt per capita is €10,043 euros per inhabitant$11,009 dollars per inhabitant.

The last annual rate of CPI published in Latvia was on April of 2025 and it was 3.9%.

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
Qu. GDP Per Capita [+]2024Q45,598K
Annual GDP [+]2024€40,208M
Annual GDP [+]2024$43,521M
GDP per capita [+]2024€21,610
GDP per capita [+]2024$23,243
Quarterly GDP [+]2024Q4€10,479M
Debt (M.€.) [+]202418,800
Debt ($M) [+]202420,607
Debt (%GDP) [+]202446.80%
Debt Per Capita [+]2024€10,043
Debt Per Capita [+]2024$11,009
Deficit (M.€) [+]2024-706
Deficit ($M) [+]2024-793
Deficit (%GDP) [+]2024-1.80%
Expenditure (M.€) [+]202418,366.4
Expenditure ($M) [+]202419,346.4
Education Expenditure (M.€) [+]20211,814.3
Education Expenditure ($M) [+]20211,820.5
Education Expenditure (%Bud.) [+]202112.65%
Gov. Health Exp. (M.€) [+]20232,043,247,000.0
Gov. Health Exp.($M) [+]20232,209,362,981.1
Gov. Health Exp. (%Bud.) [+]202212.06%
Defence Expenditure (M.€) [+]2023892.8
Defence Expenditure ($M) [+]2023965.3
Defence Expenditure (%Bud.) [+]20235.63%
Expenditure (%GDP) [+]202445.70%
Expenditure Per Capita [+]2024€9,812
Expenditure Per Capita [+]2024$10,335
Education Expenditure P.C [+]2021€963
Education Expenditure P.C [+]2021$1,134
Gov. Health Exp. P.C. [+]2023€1,085
Gov. Health Exp. P.C. [+]2023$1,173
Defence Expenditure P.C. [+]2023€475
Defence Expenditure P.C. [+]2023$513
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 [+]March 20256.7%
Unemployment rate [+]2024Q46.9%
Unemployed [+]2024Q464K
NMW [+]2025$768.8
NMW [+]2025€740.0
Average Wage [+]2023$20,067
Average Wage [+]2024€20,176
Human Capital Ranking [+]201728º
Markets
US Dollar exchange rate [+]05/12/20250.9004
Stock ExchangeYTD % [+]05/13/20250.05%
Prices
CPI (overall index) [+]April 20253.9%
HICP [+]April 20254.1%
PPI Year on Year [+]March 20251.9%
Money Market
Key rates [+]04/23/20252.40%
Business
Doing Business [+]202019º
IPI Year on Year [+]March 2025-2.5%
Passengers vehicles Year [+]December 202433,318
Annual Vehicles/ 1,000 p. [+]December 202211.20
Vehicles / 1,000 people [+]2021457.35
Taxes
Tax Revenue (%GDP) [+]202333.0%
Standard VAT [+]07/01/201221.00%
Top tax rate + SSC [+]202231.4%
Trade
Annual arrivals [+]2021478,000
Exports [+]2024€19,068.9M
Exports [+]2024$20,639.8M
Exports % GDP [+]202447.43%
Imports [+]2024€21,932.2M
Imports [+]2024$23,739.0M
Imports % GDP [+]202454.55%
Trade balance [+]2024€-2,863.2M
Trade balance [+]2024$-3,099.2M
Trade balance % GDP [+]2024-7.12%
Retail Sales YoY [+]March 20252.4%
Socio-Demography
Global AgeWatch Ranking [+]201535º
Density [+]202329
Global Peace Ranking [+]202430º
Crude divorce rate [+]20232.80‰
Remittance received ($M) [+]20171,090.0
% Immigrant [+]202012.65%
% Emigrant [+]202020.07%
Birth Rate [+]20237.70‰
Remittance sent ($M) [+]2017335.2
Crude death rate [+]202314.90‰
Fertility Rate [+]20231.36
Crude marriage rate [+]20235.60‰
% risk of poverty [+]202421.6%
Population [+]20231,871,882
Immigrant stock [+]2020239,422
Emigrant stock [+]2020380,010
HDI [+]20220.879
Gender Gap Ranking [+]202430º
Life expectancy [+]202375.60
Suicides [+]2022226
Suicide rate [+]202212.29
Number of homicides [+]202347
Rate Homicides per 100.000 [+]20232.50
Energy and Environment
CO2 Tons per capita [+]20233.56
Consumption GWh [+]20236,822
Generation GWh [+]20236,360
Others
COVID-19 - Deaths [+]08/04/20247,475
COVID-19 - Confirmed [+]08/04/2024977,765
Fully vaccinated [+]07/11/20221,305,976
COVID-19 - Deaths per million population [+]08/04/20243,993.31
Doses administered [+]07/11/20222,895,716