| Source | World Bank : Nominal (current), Nominal (constant), PPP (current), PPP (constant) |
| IMF World Economic Outlook (April 2024) | |
| Date | 01 Sep 2024 |
According to the IMF World Economic Outlook (April 2024), Latvia's nominal GDP in 2024 is projected to be around $45 billion at current prices. Based on PPP, Latvia's GDP in 2024 is forecast at 78 billion international dollars.
Latvia has the 31st largest economy by GDP (nominal) and 31st by GDP (PPP) in Europe, the 99th largest by nominal GDP in the world, and 108th by GDP (PPP).
| Year | GDP (billions of $/Int. $) | |
|---|---|---|
| Nominal | PPP | |
| 2023 | 43.60 | 75.33 |
| 2024 | 45.47 | 78.42 |
| 2025 | 48.27 | 81.75 |
| 2026 | 50.75 | 85.36 |
| 2027 | 53.32 | 89.13 |
| 2028 | 56.02 | 93.08 |
| 2029 | 58.83 | 97.22 |
| Year | GDP Nominal (billions of $) | GDP PPP (billions Int. $) | Share (%) to World | Rank/Total | ||||
|---|---|---|---|---|---|---|---|---|
| Current | Constant (2015) | Current | Constant (2021) | Nominal | PPP | Nominal | PPP | |
| 1960 | - | - | - | - | - | - | - | - |
| 1961 | - | - | - | - | - | - | - | - |
| 1962 | - | - | - | - | - | - | - | - |
| 1963 | - | - | - | - | - | - | - | - |
| 1964 | - | - | - | - | - | - | - | - |
| 1965 | - | - | - | - | - | - | - | - |
| 1966 | - | - | - | - | - | - | - | - |
| 1967 | - | - | - | - | - | - | - | - |
| 1968 | - | - | - | - | - | - | - | - |
| 1969 | - | - | - | - | - | - | - | - |
| 1970 | - | - | - | - | - | - | - | - |
| 1971 | - | - | - | - | - | - | - | - |
| 1972 | - | - | - | - | - | - | - | - |
| 1973 | - | - | - | - | - | - | - | - |
| 1974 | - | - | - | - | - | - | - | - |
| 1975 | - | - | - | - | - | - | - | - |
| 1976 | - | - | - | - | - | - | - | - |
| 1977 | - | - | - | - | - | - | - | - |
| 1978 | - | - | - | - | - | - | - | - |
| 1979 | - | - | - | - | - | - | - | - |
| 1980 | - | - | - | - | - | - | - | - |
| 1981 | - | - | - | - | - | - | - | - |
| 1982 | - | - | - | - | - | - | - | - |
| 1983 | - | - | - | - | - | - | - | - |
| 1984 | - | - | - | - | - | - | - | - |
| 1985 | - | - | - | - | - | - | - | - |
| 1986 | - | - | - | - | - | - | - | - |
| 1987 | - | - | - | - | - | - | - | - |
| 1988 | - | - | - | - | - | - | - | - |
| 1989 | - | - | - | - | - | - | - | - |
| 1990 | - | 21.64 | 20.47 | 48.29 | - | 0.0692 | - | 89/186 |
| 1991 | - | 18.92 | 18.50 | 42.21 | - | 0.0595 | - | 92/187 |
| 1992 | - | 12.84 | 12.85 | 28.65 | - | 0.0395 | - | 109/188 |
| 1993 | - | 12.20 | 12.49 | 27.23 | - | 0.0368 | - | 111/188 |
| 1994 | - | 12.47 | 13.04 | 27.82 | - | 0.0365 | - | 109/189 |
| 1995 | 5.79 | 12.35 | 13.70 | 27.56 | 0.0186 | 0.0363 | 103/199 | 110/190 |
| 1996 | 5.98 | 12.67 | 14.27 | 28.27 | 0.0188 | 0.0357 | 106/199 | 109/190 |
| 1997 | 6.53 | 13.79 | 15.78 | 30.77 | 0.0206 | 0.0373 | 103/199 | 108/192 |
| 1998 | 7.17 | 14.66 | 17.03 | 32.72 | 0.0226 | 0.0390 | 98/201 | 107/192 |
| 1999 | 7.53 | 15.07 | 17.70 | 33.62 | 0.0230 | 0.0386 | 101/202 | 107/192 |
| 2000 | 7.96 | 15.92 | 19.04 | 35.53 | 0.0235 | 0.0386 | 103/203 | 106/194 |
| 2001 | 8.36 | 16.93 | 21.14 | 37.78 | 0.0249 | 0.0409 | 98/204 | 103/194 |
| 2002 | 9.56 | 18.13 | 23.29 | 40.46 | 0.0274 | 0.0430 | 96/208 | 102/195 |
| 2003 | 11.77 | 19.66 | 25.31 | 43.86 | 0.0301 | 0.0442 | 92/208 | 101/195 |
| 2004 | 14.44 | 21.28 | 27.79 | 47.50 | 0.0327 | 0.0449 | 89/208 | 101/195 |
| 2005 | 17.00 | 23.57 | 31.15 | 52.59 | 0.0356 | 0.0468 | 89/208 | 100/195 |
| 2006 | 21.57 | 26.39 | 35.18 | 58.88 | 0.0417 | 0.0482 | 85/209 | 100/196 |
| 2007 | 31.05 | 29.01 | 40.14 | 64.74 | 0.0532 | 0.0508 | 83/209 | 99/196 |
| 2008 | 35.85 | 28.07 | 42.62 | 62.63 | 0.0560 | 0.0510 | 83/210 | 99/199 |
| 2009 | 26.41 | 24.07 | 36.46 | 53.70 | 0.0435 | 0.0432 | 93/210 | 106/200 |
| 2010 | 23.96 | 22.99 | 37.13 | 51.31 | 0.0360 | 0.0413 | 101/210 | 106/200 |
| 2011 | 27.47 | 23.59 | 39.65 | 52.63 | 0.0371 | 0.0414 | 102/213 | 106/201 |
| 2012 | 28.17 | 25.25 | 43.31 | 56.34 | 0.0373 | 0.0429 | 101/211 | 103/199 |
| 2013 | 30.20 | 25.75 | 45.56 | 57.47 | 0.0388 | 0.0430 | 101/211 | 103/200 |
| 2014 | 31.39 | 26.24 | 47.48 | 58.56 | 0.0393 | 0.0432 | 102/212 | 103/199 |
| 2015 | 27.26 | 27.26 | 49.38 | 60.84 | 0.0362 | 0.0439 | 101/210 | 103/199 |
| 2016 | 28.08 | 27.91 | 52.36 | 62.28 | 0.0367 | 0.0447 | 101/210 | 104/198 |
| 2017 | 30.48 | 28.83 | 55.69 | 64.34 | 0.0374 | 0.0450 | 100/210 | 105/199 |
| 2018 | 34.43 | 29.98 | 59.51 | 66.91 | 0.0397 | 0.0452 | 98/210 | 104/199 |
| 2019 | 34.23 | 30.16 | 63.72 | 67.30 | 0.0389 | 0.0457 | 99/210 | 103/199 |
| 2020 | 34.39 | 29.10 | 64.11 | 64.94 | 0.0402 | 0.0461 | 97/209 | 101/198 |
| 2021 | 39.44 | 31.06 | 69.31 | 69.31 | 0.0404 | 0.0446 | 95/208 | 101/198 |
| 2022 | 40.42 | 31.98 | 77.25 | 71.36 | 0.0399 | 0.0449 | 98/202 | 102/194 |
| 2023 | 43.63 | 31.89 | 79.98 | 71.15 | 0.0414 | 0.0433 | 95/186 | 100/184 |