Latvia
Everything Palanor holds about Latvia, in one place: 178 public signals, what its economy runs on, how often America’s largest companies name it, the news that names it, and Country Posture. Every figure is computed from stored readings and carries its source and date.
EuropeEuropean UnionEuro AreaOECD
The latest read
- GDP in current U.S. dollars: $48.6 billion (2025); record high since 1995; 1y +10.5%.
- Real GDP growth: 2.14% (2025); 41st percentile since 1991; highest since 2021; 1y +2.18 pts.
- Consumer price inflation: 3.75% (2025); 54th percentile since 1992; 1y +2.48 pts.
- Unemployment: 6.57% (2025); 13th percentile since 1991; 1y −0.33 pts.
- Household consumption, share of GDP: 57.6% of GDP (2025); 14th percentile since 1994; lowest since 2021; 1y −0.79 pts.
- Net exports, share of GDP: -4.58% of GDP (2025); 56th percentile since 1995; lowest since 2022; 1y −3.00 pts.
Country Posture
What Latvia’s economy is doing
Momentum
2025Inputs only. Did not pass the pre-registered back-test: 1996–2009: AUC 0.590 below 0.60; AUC 0.590 below the single-input baseline (0.624); 2010–2022: AUC 0.595 below 0.60; AUC 0.595 below the single-input baseline (0.641).
Inputs
| Real GDP growth | 2.1 |
| Growth against its three-year average | 1.8 |
| Change in unemployment | -0.3 |
| Change in the employment rate | -0.1 |
| Export volume growth | — |
| OECD leading indicator | — |
Resilience
202553Moderate buffers
0 = thin buffers · 100 = deep buffers
Moved most by current account (down) since the year before.
Inputs
| Interest as a share of revenue (2024) | 2.7 | 64 |
| Budget balance (2024) | -2.0 | 47 |
| Reserves, months of imports | 2.0 | 17 |
| Current account | -5.3 | 35 |
| Governance (WGI mean) | 0.94 | 87 |
| External debt | — | — |
Pressure
2025Inputs only. Did not pass the pre-registered back-test: 1996–2009: AUC 0.657 below the single-input baseline (0.672).
Inputs
| Inflation | 3.7 |
| Change in inflation | 2.5 |
| Currency move against the dollar | -4.3% |
| Conflict deaths per million | 0.0 |
| Political stability | 0.81 |
| Private credit, three-year change (2024) | -3.1 |
| Bond spread over U.S. Treasuries | -1.0 |
Posture describes what an economy is doing; it is not a rating and never ranks countries. Each input is read against the country’s own history and against every other economy that year. An axis shows a score only after passing a back-test fixed before any result was computed. Method and back-test.
Country Schemas
Where Latvia is in its cycles
Where Latvia sits in eight long cycles, each read from published statistics against a method fixed before any reading was computed. A stage describes; it is not a rating, and no stage is better or worse than another.
- Development stage
Drive to maturity58% · 2025
Pre-take-offTake-offDrive to maturityHigh mass consumption20002025
- Demographic stage
Declining98% · 2025
High stationaryEarly expandingLate expandingLow stationaryDeclining20002025
- Debt cycle stage
Early cycle91% · 2025
Early cycleLeveragingLate cycleDeleveraging20002025
- External balance stage
Immature debtor73% · 2025
Immature debtorMature debtorDebt repayerImmature creditorMature creditorCredit disinvestor20002025
- Export structure stage
Manufacturing exporter74% · 2025
Commodity-reliantDiversifyingManufacturing exporterComplex exporter20002025
- Structural pressure
Low90% · 2025
LowBuildingHighAcute20002025
- Middle-class stage
Affluent99% · 2025
Pre-middle-classEmerging middle classMiddle-class majorityAffluent20002025
- Electoral cycle
Post-election99% · 2026-10
Post-electionMid-termPre-election2022-112026-10
Passport reach
Where a Latvia passport opens doors
The share of world GDP, outside Latvia itself, in the economies whose published rules let a holder of this passport in, as of October 2026. Palanor records the rules of destinations holding 88% of world GDP, from each government’s own list, and weights them by World Bank GDP for 2025. Rank is among 199 passports.
Work
36.0%rank 11 of 199
the right to work (free movement in full; treaty and working-holiday routes at half); 30 destinations in full, 5 at half.
Recorded changes
Investment migration programs
- Temporary residence permit for investors (Immigration Law Section 23(1) clauses 28-31) residence · OpenGovernment minimum $67,616 for one person (agent fees excluded).
Reach is shown here and not weighted into Country Strength: it rewards membership of a free-movement area or a treaty more than the strength of an economy. Entry is always at the border officer’s discretion, and conditions (length of stay, fees, age limits) vary. Method, sources and the full ranking: Passports and citizenship.
Palanor calculation from each destination government's published rules; GDP weights from the World Bank (CC BY 4.0), one year for the whole line, so it moves only when a list changes.
GDP by expenditure
What Latvia’s economy runs on
In 2025, household spending was 57.6% of GDP, government consumption 22.9%, investment 24.1% and net exports -4.6% (exports 62.6%, imports 67.2%).
World Bank national accounts. The parts can miss 100 by a few points (the statistical discrepancy).
Same World Bank definition for every country, so the shares compare directly: What each economy runs on.
IMF World Economic Outlook
The IMF’s outlook for Latvia
The latest year before the October 2026 edition (often still an IMF estimate) and the IMF’s own projections. These are the IMF’s published forecasts, shown as published; Palanor does not project them further. Since the previous edition the IMF raised its growth forecast for this year by 0.0 percentage points (Palanor calculation).
| Measure | 2025 | 2026 IMF f’cast | 2027 IMF f’cast | 2031 IMF f’cast |
|---|---|---|---|---|
| Real GDP growth% | 2.1 | 2.3 | 1.8 | 2.0 |
| Inflation, average consumer prices% | 3.8 | 3.6 | 3.9 | 2.2 |
| Unemployment rate% of labor force | 6.9 | 6.7 | 6.5 | 6.3 |
| GDP, current US dollarsUS$ bn | 48.6 | 53.2 | 56.4 | 67.8 |
| GDP at purchasing-power parityintl $ bn | 80.9 | 85.5 | 89.8 | 104.9 |
| GDP per person, US dollarsUS$ | 26,116 | 28,630 | 30,423 | 36,887 |
| Current account balance% of GDP | -5.3 | -5.9 | -6.1 | -5.0 |
| Government gross debt% of GDP | 46.9 | 47.0 | 48.6 | 54.9 |
| Government net debt% of GDP | 37.7 | 38.4 | 40.5 | 48.2 |
| Government overall balance% of GDP | -4.0 | -3.2 | -4.4 | -4.3 |
| Government primary balance% of GDP | -3.1 | -2.0 | -3.1 | -2.8 |
| Government net interest paid% of GDP · Palanor calc. | 1.0 | 1.2 | 1.3 | 1.5 |
Source: IMF World Economic Outlook Database (edition on the projection). Dashed: the IMF's published projection.
Source: IMF World Economic Outlook Database (edition on the projection). Dashed: the IMF's published projection.
Source: IMF World Economic Outlook Database, October 2026. Provided by the IMF “as is” and free of charge from the IMF; the IMF does not endorse Palanor. Net interest paid is a Palanor calculation: the IMF's primary balance minus its overall balance.
Charts
The headline series
News
In the news
- Belarus bars entry to some goods from Latvia reut.rs/3U7HY44
Reuters · Bluesky2026-10-19neutral
- Latvian officials claim Russia and Belarus are facilitating an elaborate scheme to illegally funnel migrants from the Middle East and Africa across the border into Latvia and other NATO and EU countries. They say Russia’s goal in Latvia is to stir up tensions ahead of parliamentary elections.
The New York Times · Bluesky2026-10-02neutral
Headlines that name Latvia, matched by name with fixed rules (a wrong match is worse than a missing one). Tone is read from each headline’s own words; no model reads or summarizes an article, and other publishers’ stories link out.
Company graph
Companies headquartered in Latvia
Palanor’s company graph holds 21 entities headquartered here (GLEIF headquarters address, else legal address).
Signals
Every series about Latvia
Grouped by theme, the most-read first. All 178 in the Library.
Growth and output10 of 40
- Latvia · GDP per Capita · PPP USDrecord high since 1990; 1y +5.2%46,137 usd2025
- Latvia · Real GDP Growth · % y/y41st percentile since 1991; highest since 2021; 1y +2.18 pts2.14%2025
- Latvia · Country Strength50th percentile since 1994; highest since 2021; 1y +8.9%63.6 index2025
- Latvia · Agriculture, Forestry and Fishing Value Added · % of GDP60th percentile since 1995; highest since 2022; 1y +0.0614 pts4.01% of GDP2025
- Latvia · GDP · USD bn (current)record high since 1995; 1y +10.5%$48.6bn2025
- Latvia · GDP per Person · €record high since 1995; 1y +7.1%23,560 € per person2025
- Latvia · Industry (incl. Construction) Value Added · % of GDP5th percentile since 1995; 1y +0.141 pts18.7% of GDP2025
- Latvia · Manufacturing Value Added · % of GDP5th percentile since 1995; 1y +0.0384 pts9.99% of GDP2025
- Latvia · Services Value Added · % of GDP85th percentile since 1995; 1y −0.486 pts64.2% of GDP2025
- Latvia: GDP per Hour Worked at Purchasing-Power Parityrecord high since 1995; 1y +4.5%512025
Prices4 of 6
- Latvia Consumer Price Index (OECD)99th percentile since Jan 2010; 1y +3.2%156.5 index2026-09-01
- Latvia Inflation Rate (CPI, % y/y, OECD)66th percentile since Jan 2011; 1y −0.92 pts3.16% y/y2026-09-01
- Latvia Purchasing Power Since 2019 (100 = January 2019)3rd percentile since Jan 2019; 1y −3.1%68.32026-09-01
- Latvia · Inflation · CPI % y/y54th percentile since 1992; 1y +2.48 pts3.75%2025
Jobs and people at work6 of 7
- Latvia · Unemployment Rate (OECD Harmonised, Monthly)31st percentile since Apr 1998; 1y +0.1 pts7.3% of labour force2026-08-01
- Latvia Unemployment Rate (Monthly, Eurostat)33rd percentile since Jan 2000; 1y +0.1 pts7.3%2026-08-01
- Latvia · Female Labor Force Participation · %82nd percentile since 1990; lowest since 2021; 1y −0.27 pts55.3%2025
- Latvia · Male Labor Force Participation · %32nd percentile since 1990; lowest since 2014; 1y −0.39 pts66.9%2025
- Latvia · Unemployment Rate · %13th percentile since 1991; 1y −0.33 pts6.57%2025
- Average annual hours worked · Latvia5th percentile since 1995; lowest since 2020; 1y −1.4%1,588.1 hours2025
Money, rates and credit1 of 2
- Latvia 10-Year Government Bond Yield (Monthly)54th percentile since Jan 2001; highest since Nov 2023; 1y +0.65 pts3.82%2026-08-01
Stock market and listed companies2
- Latvia Share Prices (OECD, 2015 = 100)75th percentile since Jan 2000; highest since Jun 2024; 1y +5.2%201.82026-09-01
- Latvia Share Prices, Change Over a Year (OECD)43rd percentile since Jan 2001; highest since Jan 2026; 1y +0.94 pts5.22% y/y2026-09-01
Government and debt10 of 19
- Latvia · Budget Balance · % GDP31st percentile since 1995; lowest since 2022; 1y −0.75-2.54 pct_gdp2025
- Latvia · Budget Balance · % GDP (central govt)37th percentile since 1994; highest since 2019; 1y +0.04-1.96 pct_gdp2024
- Latvia · Government Debt · % GDP92nd percentile since 1995; 1y −0.1%57.5 pct_gdp2025
- Latvia · Government Spending · % GDP89th percentile since 1995; highest since 2021; 1y +1.7%46.1 pct_gdp2025
- Latvia · Interest · % of Revenue (central govt)52nd percentile since 1994; highest since 2017; 1y +0.82 pts2.69%2024
- Latvia · Net Interest · % of Government Spending50th percentile since 1995; highest since 2019; 1y +0.42 pts1.74%2025
- Latvia · Net Interest · USD bn (PPP)record high since 1995; 1y +40.8%$0.69bn2025
- Latvia · Primary Balance · % GDP37th percentile since 1995; 1y −0.55-1.74 pct_gdp2025
- Latvia · Interest · % of Expense (central govt)32nd percentile since 1994; highest since 2019; 1y +0.56 pts1.86%2023
- Latvia · Public Social Spending: Total (% of GDP)92nd percentile since 1994; lowest since 2020; 1y −0.81 pts19.7% of GDP2023
Trade and capital flows3 of 4
- Latvia · Current Account · % GDP44th percentile since 1995; 1y −1.78-5.27 pct_gdp2025
- Latvia · Net International Investment Position, % of GDP (IMF)85th percentile since 1995; highest since 1998; 1y +0.235 pts-18.9% of GDP2025
- Latvia · Tourism Intensity: Nights per Resident (annual)92nd percentile since 1995; highest since 2019; 1y +7.1%2.682025
Energy and resources4 of 8
- Latvia · Business Electricity Price (incl. taxes) · € per kWh83rd percentile since Jul 2007; 1y −0.5%0.17 € per kWh2026-01-01
- Latvia · Household Electricity Price (incl. taxes) · € per kWh83rd percentile since Jul 2007; lowest since Jul 2024; 1y −1.0%0.24 € per kWh2026-01-01
- Latvia · Wind and Solar Share of Electricity Generationrecord high since 2000; 1y +3.57 pts16.7% of generation2025
- Latvia · Electric Car Share of New Car Salesrecord high since 2015; 1y +7.00 pts19% of new car sales2025
Conflict and geopolitics4 of 10
- Latvia · Governance · WGI six-dimension mean91st percentile since 1996; 1y −0.5%0.94 index2025
- Latvia · Political Stability · WGI76th percentile since 1996; lowest since 2022; 1y −1.8%0.81 index2025
- Latvia · Regulatory Quality · WGI43rd percentile since 1996; 1y −4.1%1.02 index2025
- Latvia · Rule of Law · WGIrecord high since 1996; 1y +3.3%1.07 index2025
Aid in and out2
- Latvia · Foreign Aid (Official Development Assistance) · US$ billions56th percentile since 2018; lowest since 2021; 1y −1.1%0.09 US$ billions2025
- Latvia · ODA as % of GNI56th percentile since 2018; lowest since 2021; 1y −0.04 pts0.18% of GNI2025
Migration4 of 6
- International Migrant Stock: Latvia (UN)record low since 1990220,471 people2024
- International Migrants as a Share of Population: Latvia (UN)record low since 199011.8% of population2024
- U.S.-Born People Living in Latvia (UN)56th percentile since 1990500 people2024
- Change in Migrant Share of Population Since 2000: Latvia (UN)-6.392024
AI stance and technology2 of 4
- Latvia · R&D Spending per Person · € per inhabitantrecord high since 1993; 1y +19.2%203.92024
- Latvia · R&D Spending · % of GDPrecord high since 1995; 1y +0.12 pts0.94% of GDP2024
Climate and the physical world4
- Latvia · Arable Land · % of land80th percentile since 1992; lowest since 2020; 1y −0.06 pts21.8% of land area2024
- Latvia · Forest Area · % of landrecord high since 1992; 1y +0.11 pts55.6%2024
- Latvia · Renewable Freshwater · m³ per personrecord high since 1992; 1y +0.3%9,0142022
- Latvia · PM2.5 Exposure · µg/m³record low since 1990; 1y −7.7%11.8 µg/m³2020
Health and living standards10 of 13
- Latvia · Life Expectancy at Birth · yearsrecord high since 1960; 1y +1.3%76.4 years2024
- Latvia · Access to Electricity · % of populationrecord high since 1990; 1y unchanged100%2024
- Latvia · Human Development Index · UNDPrecord high since 1990; 1y +0.9%0.89 index2023
- Latvia · Extreme Poverty ($3.00 a day) · % of population11th percentile since 1993; 1y unchanged0.4%2023
- Latvia · Basic Drinking Water Access · % of populationrecord high since 2000; 1y +0.03 pts98.8%2024
- Latvia · Safely Managed Drinking Water · % of populationrecord high since 2000; 1y +0.04 pts97%2024
- Latvia · Undernourishment · % of populationrecord low since 2001; 1y unchanged2.5%2024
- Latvia · Poverty at National Lines · % of population61st percentile since 2004; 1y unchanged22.5%2022
- Latvia · Antidepressants: Daily Doses per 1,000 Peoplerecord high since 2012; 1y +11.6%31.82025
- Latvia · Anxiolytics (Anti-Anxiety Drugs): Daily Doses per 1,000 People71st percentile since 2012; lowest since 2022; 1y −1.2%162025
Sentiment and attention1
- Latvia · Search Attention81st percentile since Sep 2021; 1y −8.3%66 index2026-09-20
Peers
Elsewhere in Europe
Alphabetical. Palanor does not rank countries.
AlbaniaAndorraAustriaBelarusBelgiumBosnia and HerzegovinaBulgariaCroatiaCzechiaDenmarkEstoniaFaroe IslandsFinlandFranceGermanyGibraltarGreeceGuernseyHungaryIcelandIrelandIsle of ManItalyJerseyKosovoLiechtensteinLithuaniaLuxembourgMaltaMoldovaMonacoMontenegroNetherlandsNorth MacedoniaNorwayPolandPortugalRomaniaRussiaSan MarinoSerbiaSlovakiaSloveniaSpainSwedenSwitzerlandUkraineUnited KingdomVatican City