Nominal GDP for Latvia was $43.7bn in 2024, up from $42.8bn in 2023. The Latvian population was estimated at 1.9m in 2024 according to the IMF, while Lithuania is Latvia’s biggest trading partner.
Variables Surveyed for Latvia
Variables covered in our monthly analysis of Latvia include:
- Gross Domestic Product (GDP)
- Private Consumption
- Gross Fixed Investment
- Industrial Production
- Consumer Price Inflation
- General Government Budget Balance
- Merchandise Exports
- Merchandise Imports
- Trade Balance
- Current Account Balance
- Monthly Inflation Forecasts
Consensus Forecasts for Latvia
Individual panellist forecasts are shown for each of the variables surveyed, along with the consensus (mean) forecast. The rows of forecasts are ranked by the GDP growth estimate for the current year, highest to lowest. in the PDF publication, we also show selected “comparison forecasters” including the IMF, OECD, and European Commission. The example below is an illustrative historical survey snapshot from September 2022, showing how individual forecasts and the consensus are presented.
Source: Eastern Europe Consensus Forecasts, September 2022
Special Surveys
In addition to the regular surveys for the variables listed above we also undertake a number of Special Surveys for Latvia on topics such as:- Quarterly Forecasts
- Long-Term Forecasts
- Forecast Probabilities
- Sectoral Growth and Foreign Direct Investment
Main Data Sources for Latvia
- Central Statistical Bureau Republic of Latvia: The CSB is a direct administration body subordinated to the Ministry of Economics, and acting as the main performer and coordinator of the official statistical work in Latvia
- Latvijas Banka: The Bank of Latvia is the central bank of Latvia. It is among the nation's key public institutions and carries out economic functions as prescribed by law. It was established in 1922.
Comprehensive Forecasts Coverage
Consensus Economics has collected forecasts for more than 30 years, building up a comprehensive catalogue of historical forecasts data. Please enquire at editors@consensuseconomics.com should you wish to find out more about these data offerings, pricing and the different platforms by which you can access them.Explore forecasts across Eastern Europe
Alongside this country forecast, explore the other economies covered by our Eastern Europe forecast publication.