The economy of Latvia shrank 0.3% in 2023, the first contraction in three years, compared with preliminary estimates of a 0.6% decline. This downturn followed a 3.4% growth in 2022. Full Year GDP Growth in Latvia averaged 3.64 percent from 1996 until 2023, reaching an all time high of 12.00 percent in 2006 and a record low of -14.20 percent in 2009. source: Central Statistical Bureau of Latvia
Full Year GDP Growth in Latvia is expected to reach 1.20 percent by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Latvia Full Year GDP Growth is projected to trend around 2.30 percent in 2025 and 2.50 percent in 2026, according to our econometric models.