Photo: Marcin Szala · CC BY-SA 3.0 · via Wikimedia Commons, shown in greyscale
Topic 02 of 18 · Country Index 2026
Latvia: Economy & Innovation
What does an economy do for the people inside it?
Latvia is placed 39th of 176 countries on economy & innovation in the Country Index 2026, from 4 of its 4 key statistics. Readings behind it: GDP per Capita (PPP) 38,801 (2025); Firms with a Bank Loan or Line of Credit 36.05 (2025).
Share
Economy & Innovation
39th
of 176 countries placed
Placed from 4 of 4 key statistics
- 38,801GDP per Capita (PPP), 2025GDP per capita (constant 2021 international $, PPP)
- 36.05Firms with a Bank Loan or Line of Credit, 2025Firms with a bank loan or line of credit (%)
- 0.732Economic Complexity Index, 2024ECI score (standardised, roughly −3 to +3)
- 94.97Account Ownership at a Financial Institution, 2024Adults with an account (% of population aged 15+)
01The evidence
The 4 key statistics that decide it
Only these place Latvia on economy & innovation — one vote each. Every value is the publisher’s own, read at the edition the Country Index 2026 used — or, for a survey-based key, each country’s latest reading; the grey ticks are every other country it was compared with, lowest on the left.
38,801
GDP per capita (constant 2021 international $, PPP)
Higher is better
Latvia: 38,801. Across the 185 countries in this edition, values run from 1,067 (Burundi) to 139,593 (Singapore); the world median is 17,265.
- World median
- 17,265
- Best in Northern Europe
- 131,338 Ireland
- Land neighbours
- Belarus 29,666 · Estonia 41,604 · Lithuania 48,840 · Russia 42,358
Key 2 of 4
Firms with a Bank Loan or Line of Credit
World Bank Group
Latest reading per country, 2016–2025 · Latvia’s is from 2024 · CC BY 4.0
36.05
Firms with a bank loan or line of credit (%)
Higher is better
Latvia: 36.05. Across the 179 countries at their latest reading, values run from 2.113 (Pakistan) to 88.52 (Israel); the world median is 35.95.
- World median
- 35.95
- Best in Northern Europe
- 68.72 Denmark
- Land neighbours
- Belarus 39.33 · Estonia 34.72 · Lithuania 46.2 · Russia 33.47
Key 3 of 4
Economic Complexity Index
Growth Lab at Harvard University
2024 edition · data for 2024 · CC0 1.0
0.732
ECI score (standardised, roughly −3 to +3)
Higher is better
Ranked 39th of 145 by Growth Lab at Harvard University
Latvia: 0.732. Across the 145 countries in this edition, values run from -3.53 (Chad) to 1.729 (Japan); the world median is 0.131.
- World median
- 0.131
- Best in Northern Europe
- 1.246 United Kingdom
- Land neighbours
- Belarus 0.751 · Estonia 0.89 · Lithuania 0.828 · Russia 0.243
Key 4 of 4
Account Ownership at a Financial Institution
World Bank Group
2024 edition · data for 2024 · CC BY 4.0
94.97
Adults with an account (% of population aged 15+)
Higher is better
Latvia: 94.97. Across the 139 countries in this edition, values run from 14.83 (Niger) to 99.85 (Iceland); the world median is 72.83.
- World median
- 72.83
- Best in Northern Europe
- 99.85 Iceland
- Land neighbours
- Estonia 98.9 · Lithuania 98.99 · Russia 79.34
02Over time
Which way Latvia is moving
Each key’s published value, edition by edition, beside the world median. The Country Index 2026 is the first edition of the standing, so the standing itself has no history to chart yet.
GDP per Capita (PPP)
GDP per capita (constant 2021 international $, PPP) · higher is better
LatviaWorld median
Latvia rose from 14,554 in 2000 to 38,801 in 2025; the world median went from 10,589 to 17,265.
Every year’s figures
Year Latvia World median 2025 38,801 17,265 2024 37,615 18,108 2023 37,278 17,686 2022 37,719 16,933 2021 36,912 16,260 2020 34,226 15,631 2019 35,208 16,761 2018 34,730 16,349 2017 33,036 16,129 2016 31,669 15,512 2015 30,600 14,857 2014 29,244 14,475 2013 28,375 14,681 2012 27,497 14,631 2011 25,309 13,916 2010 24,120 14,101 2009 24,521 13,655 2008 28,727 14,030 2007 29,424 13,755 2006 26,432 12,983 2005 23,213 12,023 2004 20,574 11,608 2003 18,718 11,183 2002 17,097 11,144 2001 15,696 10,907 2000 14,554 10,589 Economic Complexity Index
ECI score (standardised, roughly −3 to +3) · higher is better
LatviaWorld median
Latvia rose from 0.548 in 2000 to 0.732 in 2024; the world median went from 0.016 to 0.131.
Every year’s figures
Year Latvia World median 2024 0.732 0.1310 2023 0.760 0.0710 2022 0.786 0.0580 2021 0.818 0.0010 2020 0.800 0.0470 2019 0.804 0.0300 2018 0.793 -0.0150 2017 0.819 0.0080 2016 0.769 -0.0660 2015 0.784 -0.0600 2014 0.764 -0.0190 2013 0.782 0.0140 2012 0.791 0.0060 2011 0.786 -0.0140 2010 0.749 -0.0020 2009 0.710 0.0990 2008 0.736 0.0700 2007 0.713 -0.0080 2006 0.702 0.0740 2005 0.687 0.0510 2004 0.712 0.0505 2003 0.690 0.0450 2002 0.633 0.0100 2001 0.592 0.0470 2000 0.548 0.0160 Account Ownership at a Financial Institution
Adults with an account (% of population aged 15+) · higher is better
LatviaWorld median
Latvia rose from 89.66 in 2011 to 94.97 in 2024; the world median went from 37.03 to 72.83.
Every year’s figures
Year Latvia World median 2024 95.0 73 2021 96.6 74 2017 93.2 59 2014 90.2 52 2011 89.7 37
03In context
Latvia beside its neighbours
A position reads best beside the countries around it. Every position below is a place among all 176 countries on economy & innovation, never a place within the region.
Latvia and the countries it borders
Standing among all 176; the key columns are the publishers’ own values.
| Country | Standing | GDP per Capita (PPP)GDP per capita (constant 2021 international $, PPP) | Firms with a Bank Loan or Line of CreditFirms with a bank loan or line of credit (%) | Economic Complexity IndexECI score (standardised, roughly −3 to +3) | Account Ownership at a Financial InstitutionAdults with an account (% of population aged 15+) |
|---|---|---|---|---|---|
 Lithuania | 21st | 48,840 | 46.2 | 0.828 | 98.99 |
 Estonia | 33rd | 41,604 | 34.72 | 0.89 | 98.9 |
| Latvia | 39th | 38,801 | 36.05 | 0.732 | 94.97 |
 Belarus | =49th | 29,666 | 39.33 | 0.751 | — |
 Russia | 66th | 42,358 | 33.47 | 0.243 | 79.34 |
“—”: no published reading in that edition. What a standing is
Across Northern Europe
Every country in the sub-region, by its place among all 176.
Placed either side on economy & innovation
The countries immediately above and below Latvia in the topic’s list.
04Context, no vote
Where Latvia is ahead of the world, and behind
63 more statistics filed under economy & innovation, published in full and deliberately given no vote in the standing. Select a row for the publisher, the rank and the links.
Ahead of the world median23
Statistics on which Latvia does better than the middle country measured.
Management Practices IndexWorld Bank Group · 2026 · world median 52.3966.0852.39No earlier reading
Latvia: 66.08 · world median 52.39 · Management practices index, medium and large firms (0–100). World Bank Group, 2026 edition, data for 2026.
Published values in that edition run from 28.07 to 69.29; higher is better.
Position 10th of 169 · derived.
Water-Use EfficiencyFAO · 2023 · world median 16.1148.4516.1▲ Improved since 2013
Latvia: 148.45 · world median 16.1 · Value added per cubic metre of freshwater withdrawn (constant US$ per m³). Food and Agriculture Organization of the United Nations (FAO), 2023 edition, data for 2023.
Published values in that edition run from 0.38 to 1,378; higher is better.
Regulatory QualityWorld Bank Group · 2025 · world median -0.0931.022-0.093No real change since 2015
Latvia: 1.022 · world median -0.093 · Regulatory Quality (−2.5 to 2.5). World Bank Group, 2025 edition, data for 2025.
Published values in that edition run from -2.106 to 2.113; higher is better.
Position 31st of 209 · derived.
ICT Goods ExportsUNCTAD · 2024 · world median 0.9757.560.975▼ Worsened since 2014
Latvia: 7.56 · world median 0.975 · ICT goods exports (% of total goods exports). UN Trade and Development (UNCTAD), 2024 edition, data for 2024.
Published values in that edition run from 0 to 61.45; higher is better.
Position 22nd of 119 · derived.
World Energy Trilemma IndexWorld Energy Council · 2023 · world median 63.876.363.8No earlier reading
Latvia: 76.3 · world median 63.8 · Trilemma score (0–100). World Energy Council, 2023 edition, data for 2023.
Published values in that edition run from 27.7 to 83.2; higher is better.
Ranked 19th of 99 by World Energy Council.
ICT Services ExportsUNCTAD · 2024 · world median 7.47416.897.474▲ Improved since 2014
Latvia: 16.89 · world median 7.474 · ICT services exports (% of services exports). UN Trade and Development (UNCTAD), 2024 edition, data for 2024.
Published values in that edition run from 0 to 56.25; higher is better.
Position 23rd of 118 · derived.
New Business DensityWorld Bank Group · 2024 · world median 2.1877.0212.187▼ Worsened since 2014
Latvia: 7.021 · world median 2.187 · New limited liability companies registered per 1,000 people aged 15–64. World Bank Group, 2024 edition, data for 2024.
Published values in that edition run from 0.02 to 26.76; higher is better.
Productive Capacities IndexUNCTAD · 2022 · world median 46.6758.4546.67No real change since 2012
Latvia: 58.45 · world median 46.67 · Productive Capacities Index (1–100). UN Trade and Development (UNCTAD), 2022 edition, data for 2022.
Published values in that edition run from 17.8 to 71.02; higher is better.
Position 39th of 195 · derived.
Comprehensive Wealth per CapitaWorld Bank Group · 2020 · world median 46,486161,50546,486No real change since 2010
Latvia: 161,505 · world median 46,486 · National comprehensive wealth per person (real chained 2019 US$). World Bank Group, 2020 edition, data for 2020.
Published values in that edition run from 4,276 to 1,246,092; higher is better.
Position 34th of 150 · derived.
Frontier Technology Readiness IndexUNCTAD · 2023 · world median 0.4850.720.485▼ Worsened since 2013
Latvia: 0.72 · world median 0.485 · Frontier Technology Readiness Index (0–1). UN Trade and Development (UNCTAD), 2023 edition, data for 2023.
Published values in that edition run from 0 to 1; higher is better.
Position 42nd of 170 · derived.
Digitally-Deliverable Services ExportsUNCTAD · 2024 · world median 25.4244.9125.42▲ Improved since 2014
Latvia: 44.91 · world median 25.42 · Digitally-deliverable services exports (% of services exports). UN Trade and Development (UNCTAD), 2024 edition, data for 2024.
Published values in that edition run from 0.377 to 87.15; higher is better.
Position 43rd of 170 · derived.
Actual Individual Consumption per Capita (PPP)World Bank Group · 2021 · world median 12,80024,63712,800No real change since 2017
Latvia: 24,637 · world median 12,800 · Actual individual consumption per capita (PPP, current international $). World Bank Group, 2021 edition, data for 2021.
Published values in that edition run from 688.7 to 52,654; higher is better.
Position 44th of 173 · derived.
Logistics Performance IndexWorld Bank Group · 2023 · world median 2.93.52.9▼ Worsened since 2014
Latvia: 3.5 · world median 2.9 · LPI score (1–5). World Bank Group, 2023 edition, data for 2023.
Published values in that edition run from 1.9 to 4.3; higher is better.
Ranked 34th of 139 by World Bank Group.
Government AI Readiness IndexOxford Insights · 2025 · world median 40.1959.1440.19▼ Worsened since 2020
Latvia: 59.14 · world median 40.19 · AI readiness score (0–100). Oxford Insights, 2025 edition, data for 2025.
Published values in that edition run from 12.12 to 88.36; higher is better.
Ranked 51st of 195 by Oxford Insights.
Average Monthly Earnings of EmployeesILO · 2024 · world median 1,6364,0111,636▲ Improved since 2014
Latvia: 4,011 · world median 1,636 · Average monthly earnings of employees (2021 PPP $). International Labour Organization (ILO), 2024 edition, data for 2024.
Published values in that edition run from 193.28 to 9,307; higher is better.
Position 21st of 75 · derived.
Historical GDP per Capita (Maddison)GGDC · 2022 · world median 12,89027,22012,890▲ Improved since 2012
Latvia: 27,220 · world median 12,890 · GDP per capita (2011 international $). Maddison Project, Groningen Growth and Development Centre (GGDC), 2022 edition, data for 2022.
Published values in that edition run from 596.39 to 149,171; higher is better.
Position 46th of 166 · derived.
Firms with an International Quality CertificationWorld Bank Group · 2026 · world median 10.417.6110.4No earlier reading
Latvia: 17.61 · world median 10.4 · Firms with an internationally recognised quality certification (%). World Bank Group, 2026 edition, data for 2026.
Published values in that edition run from 0 to 45.77; higher is better.
Global Innovation IndexWorld Intellectual Property Organization · 2025 · world median 28.5237.5328.52No real change since 2022
Latvia: 37.53 · world median 28.52 · GII score (0–100). World Intellectual Property Organization, 2025 edition, data for 2025.
Published values in that edition run from 11.94 to 65.96; higher is better.
Ranked 41st of 139 by World Intellectual Property Organization.
Researchers per Million InhabitantsUIS · 2024 · world median 701.952,191701.95No earlier reading
Latvia: 2,191 · world median 701.95 · Researchers per million inhabitants (full-time equivalent). UNESCO Institute for Statistics (UIS), 2024 edition, data for 2024.
Published values in that edition run from 1.446 to 18,130; higher is better.
Position 44th of 145 · derived.
Informal Output (DGE Model Estimate)World Bank Group (Prospects Group) · 2020 · world median 27.525.6127.5▼ Worsened since 2010
Latvia: 25.61 · world median 27.5 · Informal output, model estimate (% of official GDP). World Bank Group (Prospects Group), 2020 edition, data for 2020.
Published values in that edition run from 7.91 to 60.43; lower is better.
Income Share Held by Lowest 20%World Bank Group · 2023 · world median 7.127.157.12▲ Improved since 2013
Latvia: 7.15 · world median 7.12 · Share of national income held by the poorest fifth (%). World Bank Group, 2023 edition, data for 2023.
Published values in that edition run from 3.24 to 11.07; higher is better.
Position 30th of 60 · derived.
Research and Development SpendingUIS · 2023 · world median 0.8140.8240.814No real change since 2013
Latvia: 0.824 · world median 0.814 · Gross domestic expenditure on R&D (% of GDP). UNESCO Institute for Statistics (UIS), 2023 edition, data for 2023.
Published values in that edition run from 0.006 to 6.346; higher is better.
Position 42nd of 84 · derived.
Total Factor Productivity LevelGGDC · 2023 · world median 0.6270.6270.627▲ Improved since 2013
Latvia: 0.627 · world median 0.627 · TFP level at current PPPs (USA = 1). Groningen Growth and Development Centre (GGDC), 2023 edition, data for 2023.
Published values in that edition run from 0.052 to 1.192; higher is better.
Behind the world median10
Statistics on which Latvia does worse than the middle country measured.
Income Share Held by Richest 10%World Bank Group · 2023 · world median 26.1826.2326.18No real change since 2013
Latvia: 26.23 · world median 26.18 · Share of national income or consumption held by the richest tenth (%). World Bank Group, 2023 edition, data for 2023.
Published values in that edition run from 18.79 to 43.08; lower is better.
Position 30th of 60 · derived, 1st = worst.
Palma RatioWorld Bank Group · 2023 · world median 1.3321.3411.332▼ Worsened since 2013
Latvia: 1.341 · world median 1.332 · Palma ratio (income share of the richest 10% ÷ share of the poorest 40%). World Bank Group, 2023 edition, data for 2023.
Published values in that edition run from 0.771 to 4.193; lower is better.
Position 30th of 60 · derived, 1st = worst.
Gini Index of Disposable Income (SWIID)Frederick Solt, University of Iowa · 2023 · world median 3333.833▼ Worsened since 2013
Latvia: 33.8 · world median 33 · Gini index of disposable household income (0–100), SWIID estimate. Frederick Solt, University of Iowa, 2023 edition, data for 2023.
Published values in that edition run from 22.3 to 51.2; lower is better.
Position 39th of 79 · derived, 1st = worst.
Gini IndexWorld Bank Group · 2023 · world median 33.7233.9733.72▼ Worsened since 2013
Latvia: 33.97 · world median 33.72 · Gini index (0 = perfect equality, 100 = perfect inequality). World Bank Group, 2023 edition, data for 2023.
Published values in that edition run from 23 to 54.58; lower is better.
Position 29th of 60 · derived, 1st = worst.
Crop Production IndexFAO · 2022 · world median 106.23105.2106.23▲ Improved since 2012
Latvia: 105.2 · world median 106.23 · Crop production index (2014–2016 = 100). Food and Agriculture Organization of the United Nations (FAO), 2022 edition, data for 2022.
Published values in that edition run from 53.79 to 189.93; higher is better.
Position 104th of 195 · derived.
Liner Shipping Connectivity IndexUNCTAD · 2026 · world median 56.2144.9556.21▲ Improved since 2016
Latvia: 44.95 · world median 56.21 · LSCI (index, average Q1 2023 = 100). UN Trade and Development (UNCTAD), 2026 edition, data for 2026.
Published values in that edition run from 4.13 to 1,319; higher is better.
Ranked 93rd of 175 by UNCTAD.
Food Production IndexFAO · 2022 · world median 106.08103.93106.08▲ Improved since 2012
Latvia: 103.93 · world median 106.08 · Food production index (2014–2016 = 100). Food and Agriculture Organization of the United Nations (FAO), 2022 edition, data for 2022.
Published values in that edition run from 71.08 to 177.49; higher is better.
Position 111th of 195 · derived.
Livestock Production IndexFAO · 2022 · world median 107.06102.02107.06▲ Improved since 2012
Latvia: 102.02 · world median 107.06 · Livestock production index (2014–2016 = 100). Food and Agriculture Organization of the United Nations (FAO), 2022 edition, data for 2022.
Published values in that edition run from 35.52 to 190.08; higher is better.
Position 126th of 194 · derived.
GDP GrowthWorld Bank Group · 2025 · world median 3.3962.1383.396▼ Worsened since 2015
Latvia: 2.138 · world median 3.396 · GDP growth (annual %). World Bank Group, 2025 edition, data for 2025.
Published values in that edition run from -5.847 to 19.34; higher is better.
Position 130th of 186 · derived.
Adjusted Net SavingsWorld Bank Group · 2021 · world median 8.3893.0748.389▲ Improved since 2011
Latvia: 3.074 · world median 8.389 · Adjusted net savings, including particulate emission damage (% of GNI). World Bank Group, 2021 edition, data for 2021.
Published values in that edition run from -81.62 to 32.18; higher is better.
Position 85th of 118 · derived.
Level with the median, or no median to compare1
Firms Competing Against Informal FirmsWorld Bank Group · 2026 · world median 41.8141.8141.81No earlier reading
Latvia: 41.81 · world median 41.81 · Firms competing against unregistered or informal firms (%). World Bank Group, 2026 edition, data for 2026.
Published values in that edition run from 1.926 to 90.5; lower is better.
Position 91st of 181 · derived, 1st = worst.
No better end29
These describe the shape of a country — more is not better or worse, only different — so they are never ahead or behind.
General Government ConsumptionWorld Bank Group · 2025 · world median 16.2122.916.21Moved since 2015
Latvia: 22.9 · world median 16.21 · General government final consumption expenditure (% of GDP). World Bank Group, 2025 edition, data for 2025.
Published values in that edition run from 5.445 to 38.94.
Position 18th of 132 · derived, counted from the highest value.
Complexity Outlook IndexGrowth Lab at Harvard University · 2024 · world median -0.2251.15-0.225Moved since 2014
Latvia: 1.15 · world median -0.225 · Complexity Outlook Index (standardised; roughly −2.5 to +3). Growth Lab at Harvard University, 2024 edition, data for 2024.
Published values in that edition run from -1.682 to 2.878.
Tax Revenue (% of GDP)OECD · 2024 · world median 21.8534.9121.85Moved since 2014
Latvia: 34.91 · world median 21.85 · Total tax revenue, all levels of government (% of GDP). OECD, 2024 edition, data for 2024.
Published values in that edition run from 3.11 to 45.18.
Exports of Goods and Services (% of GDP)World Bank Group · 2025 · world median 36.3462.5736.34No real change since 2015
Latvia: 62.57 · world median 36.34 · Exports of goods and services (% of GDP). World Bank Group, 2025 edition, data for 2025.
Published values in that edition run from 1.103 to 199.76.
Position 28th of 138 · derived, counted from the highest value.
Imports of Goods and Services (% of GDP)World Bank Group · 2025 · world median 41.7267.1541.72No real change since 2015
Latvia: 67.15 · world median 41.72 · Imports of goods and services (% of GDP). World Bank Group, 2025 edition, data for 2025.
Published values in that edition run from 1.279 to 196.89.
Position 28th of 138 · derived, counted from the highest value.
Trade (% of GDP)World Bank Group · 2025 · world median 79.68129.7279.68Moved since 2015
Latvia: 129.72 · world median 79.68 · Exports plus imports (% of GDP). World Bank Group, 2025 edition, data for 2025.
Published values in that edition run from 2.382 to 396.65.
Position 28th of 138 · derived, counted from the highest value.
Creative Goods ExportsUNCTAD · 2024 · world median 1.2352.71.235No real change since 2014
Latvia: 2.7 · world median 1.235 · Creative goods exports (% of merchandise exports). UN Trade and Development (UNCTAD), 2024 edition, data for 2024.
Published values in that edition run from 0 to 37.23.
Statutory Minimum WageILO · 2024 · world median 657.951,313657.95Moved since 2014
Latvia: 1,313 · world median 657.95 · Statutory minimum wage per month (2021 PPP $). International Labour Organization (ILO), 2024 edition, data for 2024.
Published values in that edition run from 4.038 to 3,804.
Creative Services ExportsUNCTAD · 2024 · world median 6.17113.796.171Moved since 2014
Latvia: 13.79 · world median 6.171 · Creative services exports (% of services exports). UN Trade and Development (UNCTAD), 2024 edition, data for 2024.
Published values in that edition run from 0.002 to 63.91.
Price Level of Household ConsumptionGGDC · 2023 · world median 0.5230.7180.523No real change since 2013
Latvia: 0.718 · world median 0.523 · Price level of household consumption (US output price level in 2021 = 1). Groningen Growth and Development Centre (GGDC), 2023 edition, data for 2023.
Published values in that edition run from 0.177 to 65.54.
Services ExportsUNCTAD · 2025 · world median 9.60219.299.602Moved since 2015
Latvia: 19.29 · world median 9.602 · Services exports (% of GDP). UN Trade and Development (UNCTAD), 2025 edition, data for 2025.
Published values in that edition run from 0.085 to 166.21.
Merchant Fleet by Country of OwnershipUNCTAD · 2026 · world median 275.731,095275.73No real change since 2016
Latvia: 1,095 · world median 275.73 · Merchant fleet owned (thousand dead-weight tons). UN Trade and Development (UNCTAD), 2026 edition, data for 2026.
Published values in that edition run from 0 to 397,071.
Foreign Value Added Share of Gross ExportsOECD · 2022 · world median 27.4128.7327.41No real change since 2012
Latvia: 28.73 · world median 27.41 · Foreign value added (% of gross exports). OECD, 2022 edition, data for 2022.
Published values in that edition run from 4.491 to 66.08.
Inflation, GDP DeflatorWorld Bank Group · 2025 · world median 3.3063.6243.306Moved since 2015
Latvia: 3.624 · world median 3.306 · Annual change in the GDP implicit deflator (%). World Bank Group, 2025 edition, data for 2025.
Published values in that edition run from -7.93 to 227.09.
Scholarly ArticlesOurResearch · 2025 · world median 2,2403,1242,240Moved since 2022
Latvia: 3,124 · world median 2,240 · Articles with at least one author at an institution in the country (full counting). OpenAlex (OurResearch), 2025 edition, data for 2025.
Published values in that edition run from 1 to 1,094,890.
Gross Capital Formation (% of GDP)World Bank Group · 2025 · world median 22.9324.0622.93No real change since 2015
Latvia: 24.06 · world median 22.93 · Gross capital formation (% of GDP). World Bank Group, 2025 edition, data for 2025.
Published values in that edition run from -3.679 to 45.27.
Position 60th of 131 · derived, counted from the highest value.
Terms of Trade IndexUNCTAD · 2025 · world median 103.23103.65103.23No real change since 2015
Latvia: 103.65 · world median 103.23 · Terms of trade index (2015 = 100). UN Trade and Development (UNCTAD), 2025 edition, data for 2025.
Published values in that edition run from 38.2 to 1,448.
Total Natural Resources Rents (% of GDP)World Bank Group · 2021 · world median 1.7081.1651.708Moved since 2011
Latvia: 1.165 · world median 1.708 · Natural resources rents (% of GDP). World Bank Group, 2021 edition, data for 2021.
Published values in that edition run from 0 to 61.03.
Position 110th of 180 · derived, counted from the highest value.
Manufacturing Value Added (% of GDP)World Bank Group · 2025 · world median 11.269.98811.26Moved since 2015
Latvia: 9.988 · world median 11.26 · Manufacturing value added (% of GDP). World Bank Group, 2025 edition, data for 2025.
Published values in that edition run from 0.481 to 43.97.
Position 77th of 132 · derived, counted from the highest value.
Household ConsumptionWorld Bank Group · 2025 · world median 62.0457.6262.04No real change since 2015
Latvia: 57.62 · world median 62.04 · Household and NPISH final consumption expenditure (% of GDP). World Bank Group, 2025 edition, data for 2025.
Published values in that edition run from 25.21 to 133.34.
Position 80th of 131 · derived, counted from the highest value.
Agriculture, Forestry and Fishing Value Added (% of GDP)World Bank Group · 2025 · world median 6.5724.016.572Moved since 2015
Latvia: 4.01 · world median 6.572 · Agriculture, forestry and fishing value added (% of GDP). World Bank Group, 2025 edition, data for 2025.
Published values in that edition run from 0.025 to 47.59.
Position 97th of 158 · derived, counted from the highest value.
Gross Savings (% of GDP)World Bank Group · 2024 · world median 22.0619.1922.06Moved since 2014
Latvia: 19.19 · world median 22.06 · Gross savings (% of GDP). World Bank Group, 2024 edition, data for 2024.
Published values in that edition run from -21.13 to 47.82.
Position 90th of 146 · derived, counted from the highest value.
Statutory Corporate Income Tax RateOECD · 2026 · world median 242024Moved since 2016
Latvia: 20 · world median 24 · Combined statutory corporate income tax rate, central and sub-central government (%). OECD, 2026 edition, data for 2026.
Published values in that edition run from 0 to 36.13.
Commodity Export DependenceUNCTAD · 2024 · world median 67.1745.9467.17Moved since 2014
Latvia: 45.94 · world median 67.17 · Commodity exports (% of merchandise exports, three-year average). UN Trade and Development (UNCTAD), 2024 edition, data for 2024.
Published values in that edition run from 4.605 to 99.77.
Industry Value Added including Construction (% of GDP)World Bank Group · 2025 · world median 24.6518.6824.65Moved since 2015
Latvia: 18.68 · world median 24.65 · Industry, including construction, value added (% of GDP). World Bank Group, 2025 edition, data for 2025.
Published values in that edition run from 2.228 to 75.09.
Position 119th of 158 · derived, counted from the highest value.
Tariff Rate, Applied, Weighted Mean, All ProductsWorld Bank Group · 2022 · world median 3.661.333.66Moved since 2012
Latvia: 1.33 · world median 3.66 · Applied tariff rate, trade-weighted mean (%). World Bank Group, 2022 edition, data for 2022.
Published values in that edition run from 0 to 29.52.
Container Port TrafficUNCTAD · 2024 · world median 1,827,788490,9711,827,788Moved since 2014
Latvia: 490,971 · world median 1,827,788 · Container port traffic (TEU, twenty-foot equivalent units). UN Trade and Development (UNCTAD), 2024 edition, data for 2024.
Published values in that edition run from 17,263 to 299,703,800.
Position 82nd of 103 · derived, counted from the highest value.
Foreign Direct Investment InflowsUNCTAD · 2025 · world median 1.9680.5441.968Moved since 2015
Latvia: 0.544 · world median 1.968 · FDI inflows (% of GDP). UN Trade and Development (UNCTAD), 2025 edition, data for 2025.
Published values in that edition run from -32.97 to 2,221.
Export Concentration IndexUNCTAD · 2025 · world median 0.3060.0760.306Moved since 2015
Latvia: 0.076 · world median 0.306 · Export concentration index (0–1, normalised Herfindahl–Hirschman). UN Trade and Development (UNCTAD), 2025 edition, data for 2025.
Published values in that edition run from 0.059 to 0.933.
No current reading for Latvia
Business Ready: Operational Efficiency, Business Ready: Public Services, Business Ready: Regulatory Framework, Debt Service on External Debt, External Debt Stocks (% of GNI), GNI per Capita (PPP) (last 2024) and Interest Payments on External Debt. Listed rather than hidden, so the page can be checked against it.
“Position · derived” is this site’s ordering of the published values, 1st = best unless the row says otherwise; the publisher ranks no country on it. Rank, position and standing
05Country Index 2026
Economy & Innovation among Latvia’s 16 topics
Economy & Innovation is Latvia’s 11th best-placed topic of 16. Strongest first, each marker at its share of that topic’s field.
- Gender & Equality1st of 1834/4 keys
- Democracy & Civil Libertiesjoint 15th of 1984/4 keys
- Digital & Technology25th of 1984/4 keys
- Peace & Security23rd of 1774/4 keys
- Health & Wellbeing27th of 2004/4 keys
- Energy23rd of 1653/3 keys
- Governance & Institutions29th of 1944/4 keys
- Risk & Resilience33rd of 1934/4 keys
- Education & Knowledgejoint 41st of 1983/4 keys
- Development & Human Capital41st of 1963/3 keys
- Economy & Innovation39th of 1764/4 keys
- Work & Labour42nd of 1824/4 keys
- Mobility & Tradejoint 48th of 1774/4 keys
- Environment & Sustainability65th of 1864/4 keys
- Poverty & Inequality58th of 1593/3 keys
- Food & Agriculture69th of 1844/4 keys
06The top of the list
Who leads on economy & innovation
The three countries placed highest of 176, and the leaders Latvia can most readily be measured against.
1
AustriaWestern Europe
1st of 176 · 4 of 4 keys
Photo: chensiyuan · CC BY-SA 4.0, greyscale
2
JapanEastern Asia
2nd of 176 · 4 of 4 keys
Photo: JurriaanH · CC BY-SA 3.0, greyscale
3
GermanyWestern Europe
3rd of 176 · 4 of 4 keys
Placed highest nearby
Highest in Europe
Austria1st4/4 keysHighest in Northern Europe
Iceland4th3/4 keysThis page
Latvia39th4/4 keys
Positions out of 176 placed on the topic. A country needs readings on enough keys to be placed, and the top of the list is often held on fewer of them.
07Analysis
Charts and analysis about Latvia and economy & innovation
On economy & innovation
China Leads Global High-Technology Exports
The world’s ten largest high-technology exporters as a treemap, with the rest of the world beside them. Each country’s figure is its own most recent year, between 2022 and 2024.
On economy & innovation
India vs Pakistan 2025: Comparison of Hunger Index, Happiness, HDI, Rule of Law, Literacy & GDP
India and Pakistan on six published measures: hunger, happiness, human development, rule of law, literacy and GDP per capita, each from its own publisher and year.
On economy & innovation
Countries in Asia with the highest average salaries 2024
Thirteen Asian countries by gross average monthly wage, each carrying its WORLD rank rather than an Asian one — so the numbers skip, from 11th place to 45th.
08Questions
Latvia on economy & innovation: questions answered
Every answer is built from the numbers on this page, so none can say something the page does not.
How does Latvia rank on economy & innovation?
Latvia is placed 39th of 176 countries on Economy & Innovation in the Country Index 2026, from 4 of its 4 key statistics (GDP per Capita (PPP), Firms with a Bank Loan or Line of Credit, Economic Complexity Index and Account Ownership at a Financial Institution). The position is this site’s ordering of published statistics, not a rank any publisher printed.
What is the latest GDP per Capita (PPP) figure for Latvia?
38,801 in 2025 (gDP per capita (constant 2021 international $, PPP)), according to World Bank Group. The world median in the same edition was 17,265.
What is the latest Firms with a Bank Loan or Line of Credit figure for Latvia?
36.05 in 2025 (firms with a bank loan or line of credit (%)), according to World Bank Group. The world median in the same edition was 35.95.
How does Latvia compare with Russia on economy & innovation?
Russia is placed 66th of 176, and Latvia 39th. GDP per Capita (PPP): Russia 42,358, Latvia 38,801; Firms with a Bank Loan or Line of Credit: Russia 33.47, Latvia 36.05; Economic Complexity Index: Russia 0.243, Latvia 0.732; Account Ownership at a Financial Institution: Russia 79.34, Latvia 94.97.
How have Latvia’s economy & innovation figures changed?
GDP per Capita (PPP) rose from 14,554 in 2000 to 38,801 in 2025; Economic Complexity Index rose from 0.548 in 2000 to 0.732 in 2024; Account Ownership at a Financial Institution rose from 89.66 in 2011 to 94.97 in 2024.
Which economy & innovation statistics are missing for Latvia?
No current reading is published for Latvia on Business Ready: Operational Efficiency, Business Ready: Public Services, Business Ready: Regulatory Framework, Debt Service on External Debt, External Debt Stocks (% of GNI), GNI per Capita (PPP) and Interest Payments on External Debt. They are listed rather than hidden, so the evidence on the page can be checked against it.
09Method
Method, sources and how to cite
What this topic does not measure
The total size of an economy is deliberately left out: a very large economy spread over a very large population is not doing more for each person. Growth rates, trade shares and the structure of output (how much is farming, industry or services) are published here as context, because they describe an economy's shape rather than how well it serves people. Jobs and wages have their own topic, Work & Labour.
How the Economy & Innovation standing is decided
A standing is this site’s ordering, named with its edition — never a publisher’s rank. 4 key statistics vote, one vote each; every country’s published value becomes a place within that key’s own field, the places are averaged, and the average is never published. A country needs 2 of the 4 keys to be placed.
The economy & innovation method, step by stepHow every standing on this site is built
The key statistics and their licences
- GDP per Capita (PPP) — World Bank Group, CC BY 4.0
- Firms with a Bank Loan or Line of Credit — World Bank Group, CC BY 4.0
- Economic Complexity Index — Growth Lab at Harvard University, CC0 1.0
- Account Ownership at a Financial Institution — World Bank Group, CC BY 4.0
The other 63 statistics on this page come from 15 publishers, each named beside its numbers, with every edition and licence on the datasets pages.
The standing itself is part of the Country Index 2026, published under CC BY-SA 4.0.
Photographs
Latvia’s banner and the countries placed highest, from their profiles: Wikimedia Commons, shown in greyscale, each used under the licence named.
- Latvia (banner) — Marcin Szala, CC BY-SA 3.0
- Austria — chensiyuan, CC BY-SA 4.0
- Japan — JurriaanH, CC BY-SA 3.0
- Germany — dronepicr, CC BY 2.0
Cite this page
Nations Inquiry (2026). Latvia: Economy & Innovation — standing and statistics, Country Index 2026. https://nationsinquiry.com/countries/latvia/economy