27, May 2012, CEST. Welcome to the Latvia economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Latvia › Change country
National or Regional Currency: Lats, LVL
Year of data: 2010 › Change year
Number of Indicators Listed: 36
Full Dataset: From Year 1980 to 2016
Date of Last Update: 1st August 2011
Population: 2,204,708 (July 2011 est.)
Area: total: 64,589 sq km land: 62,249 sq km water: 2,340 sq km
Natural Resources: peat, limestone, dolomite, amber, hydropower, timber, arable land
Capital: name: Riga geographic coordinates: 56 57 N, 24 06 E time difference: UTC+2 (7 hours ahead of Washington, DC during Standard Time) daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International

Latvia is located in Northern Europe, and its economy has one of the highest GDP growth rates in Europe. However, much of the growth was spurred by rich consumption. Implementation of the privatization process has brought tremendous success for the economy. Services constitutes the largest share in the total GDP followed by industries.
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GDP (Constant Prices, National Currency) for Latvia in year 2010 is LVL 6.805 Billion. Real GDP is expressed in billions of national currency units; the base year is country-specific.

GDP Growth (Constant Prices, National Currency) for Latvia in year 2010 is -0.344 %. Annual percentages of constant price GDP are year-on-year changes; the base year is country-specific.

GDP (Current Prices, National Currency) for Latvia in year 2010 is LVL 12.736 Billion. GDP is expressed in billions of national currency units.

GDP (Current Prices, US Dollars) for Latvia in year 2010 is US$ 24.045 Billion. Values are based upon GDP in national currency and the exchange rate projections provided by country economists for the group of other emerging market and developing countries. Exchanges rates for advanced economies are established in the WEO assumptions.

GDP Deflator for Latvia in year 2010 is 187.155 (Index, Base Year as per country's accounts = 100). The GDP deflator is derived by dividing current price GDP by constant price GDP and is considered to be an alternate measure of inflation. Please note: Data are expressed in the base year of each country's national accounts.

GDP Per Capita (Constant Prices, National Currency) for Latvia in year 2010 is LVL 3,026.63 . GDP is expressed in constant national currency per person. Data are derived by dividing constant price GDP by total population.

GDP Per Capita (Current Prices, National Currency) for Latvia in year 2010 is LVL 5,664.51 . GDP is expressed in current national currency per person. Data are derived by dividing current price GDP by total population.

GDP Per Capita (Current Prices, US Dollars) for Latvia in year 2010 is US$ 10,694.59 . GDP is expressed in current U.S. dollars per person. Data are derived by first converting GDP in national currency to U.S. dollars and then dividing it by total population.

GDP (PPP), US Dollars for Latvia in year 2010 is US$ 32.513 Billion. Gross domestic product based on purchasing-power-parity (PPP) valuation of country GDP. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites.

GDP Per Capita (PPP), US Dollars for Latvia in year 2010 is US$ 14,460.49 . Gross domestic product based on purchasing-power-parity (PPP) per capita GDP. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites.

GDP Share of World Total (PPP) for Latvia in year 2010 is 0.044 %. Gross domestic product based on purchasing-power-parity (PPP) share of world total. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites.

Implied PPP Conversion Rate for Latvia in year 2010 is 0.392 . These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites.

Investment (% of GDP) for Latvia in year 2010 is 20.669 %. Data are based on individual countries' national accounts statistics. For many countries, the estimates of national saving are built up from national accounts data on gross domestic investment and from balance of payments-based data on net foreign investment.

Gross National Savings (% of GDP) for Latvia in year 2010 is 24.248 %. Data are based on individual countries' national accounts statistics. For many countries, the estimates of national saving are built up from national accounts data on gross domestic investment and from balance of payments-based data on net foreign investment.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Latvia in year 2010 is 137.909 (Index, Base Year 2000 = 100). Data for inflation are averages for the year, not end-of-period data. The index is based on 2000=100.

Inflation (Average Consumer Price Change %) for Latvia in year 2010 is -1.224 %. Data for inflation are averages for the year, not end-of-period data.

Inflation, End of Year (Indexed to Year 2000) for Latvia in year 2010 is 139.2 (Index, Base Year 2000 = 100). Data for inflation are end of the period, not annual average data. The index is based on 2000=100.

Inflation (End of Year Change %) for Latvia in year 2010 is 2.398 %. Data for inflation are end of the period, not annual average data.

Import Volume of All Items Including Goods and Services (Percent Change) for Latvia in year 2010 is 10.669 %.

Import Volumes of Goods Only (Percent Change) for Latvia in year 2010 is 10.669 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Latvia in year 2010 is 11.287 %.

Export Volumes of Goods Only (Percent Change) for Latvia in year 2010 is 11.287 %.

Value of Oil Imports for Latvia in year 2010 is US$ 2.196 Billions. Value is equal to the price per unit of quantity of oil imports multiplied by the number of quantity units.

Value of Oil Exports for Latvia in year 2010 is US$ 0.526 Billions. Value is equal to the price per unit of quantity of oil exports multiplied by the number of quantity units.

Unemployment Rate (% of Labour Force) for Latvia in year 2010 is 18.978 %.

Population for Latvia in year 2010 is 2.248 Million .

General government revenue (National Currency) for Latvia in year 2010 is LVL 4.607 Billions. Revenue consists of taxes, social contributions, grants receivable, and other revenue. Revenue increases government?s net worth, which is the difference between its assets and liabilities (GFSM 2001, paragraph 4.20). Note: Transactions that merely change the composition of the balance sheet do not change the net worth position, for example, proceeds from sales of nonfinancial and financial assets or incurrence of liabilities.

General government revenue (% of GDP) for Latvia in year 2010 is 36.173 %. Revenue consists of taxes, social contributions, grants receivable, and other revenue. Revenue increases government?s net worth, which is the difference between its assets and liabilities (GFSM 2001, paragraph 4.20). Note: Transactions that merely change the composition of the balance sheet do not change the net worth position, for example, proceeds from sales of nonfinancial and financial assets or incurrence of liabilities.

General government total expenditure (National Currency) for Latvia in year 2010 is LVL 5.612 Billions. Total expenditure consists of total expense and the net acquisition of nonfinancial assets. Note: Apart from being on an accrual basis, total expenditure differs from the GFSM 1986 definition of total expenditure in the sense that it also takes the disposals of nonfinancial assets into account.

General government total expenditure (% of GDP) for Latvia in year 2010 is 44.067 %. Total expenditure consists of total expense and the net acquisition of nonfinancial assets. Note: Apart from being on an accrual basis, total expenditure differs from the GFSM 1986 definition of total expenditure in the sense that it also takes the disposals of nonfinancial assets into account.

Total Government Net Lending/ Borrowing (National Currency) for Latvia in year 2010 is LVL -1.005 Billions. Net lending (+)/ borrowing (?) is calculated as revenue minus total expenditure. This is a core GFS balance that measures the extent to which general government is either putting financial resources at the disposal of other sectors in the economy and nonresidents (net lending), or utilizing the financial resources generated by other sectors and nonresidents (net borrowing). This balance may be viewed as an indicator of the financial impact of general government activity on the rest of the economy and nonresidents (GFSM 2001, paragraph 4.17). Note: Net lending (+)/borrowing (?) is also equal to net acquisition of financial assets minus net incurrence of liabilities.

Total Government Net Lending/ Borrowing (% of GDP) for Latvia in year 2010 is -7.894 %.

Total Government Net Debt (National Currency) for Latvia in year 2010 is LVL 3.911 Billion. Net debt is calculated as gross debt minus financial assets corresponding to debt instruments. These financial assets are: monetary gold and SDRs, currency and deposits, debt securities, loans, insurance, pension, and standardized guarantee schemes, and other accounts receivable.receivable.

Total Government Net Debt (% of GDP) for Latvia in year 2010 is 30.705 %. Net debt is calculated as gross debt minus financial assets corresponding to debt instruments. These financial assets are: monetary gold and SDRs, currency and deposits, debt securities, loans, insurance, pension, and standardized guarantee schemes, and other accounts receivable.

Total Government Gross Debt (National Currency) for Latvia in year 2010 is LVL 5.081 Billion. Gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. This includes debt liabilities in the form of SDRs, currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable. Thus, all liabilities in the GFSM 2001 system are debt, except for equity and investment fund shares and financial derivatives and employee stock options. Debt can be valued at current market, nominal, or face values (GFSM 2001, paragraph 7.110).

Total Government Gross Debt (% of GDP) for Latvia in year 2010 is 39.894 %. Gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. This includes debt liabilities in the form of SDRs, currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable. Thus, all liabilities in the GFSM 2001 system are debt, except for equity and investment fund shares and financial derivatives and employee stock options. Debt can be valued at current market, nominal, or face values (GFSM 2001, paragraph 7.110).

Fiscal Year Gross Domestic Product, Current Prices for Latvia in year 2010 is LVL 12.736 Billions. Gross domestic product corresponding to fiscal year is the country's GDP based on the same period during the year as their fiscal data. In the case of countries whose fiscal data are based on a fiscal calendar (e.g., July to June), this series would be the country's GDP over that same period. For countries whose fiscal data are based on a calendar year (i.e., January to December), this series will be the same as their GDP in current prices.

Current Account Balance (US Dollars) for Latvia in year 2010 is US$ 0.861 Billion. Current account is all transactions other than those in financial and capital items. The major classifications are goods and services, income and current transfers. The focus of the BOP is on transactions (between an economy and the rest of the world) in goods, services, and income.

Current Account Balance (% GDP) for Latvia in year 2010 is 3.579 %. Current account is all transactions other than those in financial and capital items. The major classifications are goods and services, income and current transfers. The focus of the BOP is on transactions (between an economy and the rest of the world) in goods, services, and income.