Latvia: GDP per capita, PPP

* indicates monthly or quarterly data series

GDP per capita, Purchasing Power Parity

 Latest value 32,992
 Year 2022
 Measure U.S. dollars
 Data availability 1995 - 2022
 Average 21,493
 Min - Max 9,599 - 32,992
 Source The World Bank
For that indicator, we provide data for Latvia from 1995 to 2022. The average value for Latvia during that period was 21493 U.S. dollars with a minimum of 9599 U.S. dollars in 1995 and a maximum of 32992 U.S. dollars in 2022. The latest value from 2022 is 32992 U.S. dollars. For comparison, the world average in 2022 based on 179 countries is 22555 U.S. dollars. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Latvia - GDP per capita, PPP - Recent values chart

Historical chart
Latvia - GDP per capita, PPP - historical chart - 1995-2022

GDP per capita in Latvia and other countries is calculated as the Gross Domestic Product (GDP) divided by the population.

We show the GDP per capita in Purchasing Power Parity (PPP) terms, i.e. we calculate the GDP per capita in different countries using U.S. prices. The PPP measure is useful to compare income across countries. It allows us to answer the following question: 'What can the average person in some country buy if they paid U.S. prices?'

Moreover, we use constant prices. Using the prices from only one year allows us to compare GDP per capita over time as the effect of inflation is eliminated. Otherwise, we are not sure if the increase in GDP is due to price increases or to a growth in production.

GDP per capita varies considerably across countries. In advanced economies, it exceeds 35,000 dollars per year. In some very poor countries, it is less than 1000 dollars per year.
Definition: GDP per capita based on purchasing power parity (PPP). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in constant 2011 international dollars.

 Related indicators Latest value Reference Measure
 Economic growth 3.36 2022 percent
 GDP, constant dollars 32.1 2022 billion U.S. dollars
 GDP, current U.S. dollars 40.93 2022 billion U.S. dollars
 GDP per capita, current dollars 21,779.50 2022 U.S. dollars
 GDP per capita, PPP 32,992 2022 U.S. dollars
 GDP per capita, constant dollars 17,081.34 2022 U.S. dollars
 Economic growth, quarterly 0.20 Q3/2023 percent
 Economic growth Q-on-Q -0.10 Q3/2023 percent
 Gross Domestic Product (GDP) 10.48 Q3/2023 billion
 Productivity, relative to the U.S. 63.32 2022 index points
 Productivity, current USD 57.9 2022 USD per hour worked
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