Latvia: Share of manufacturing

* indicates monthly or quarterly data series

Value added by the manufacturing sector as percent of GDP

 Latest value 12.61
 Year 2022
 Measure percent
 Data availability 1995 - 2022
 Average 12.23
 Min - Max 9.6 - 18.22
 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 12.23 percent with a minimum of 9.6 percent in 2008 and a maximum of 18.22 percent in 1997. The latest value from 2022 is 12.61 percent. For comparison, the world average in 2022 based on 125 countries is 13.12 percent. 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 - Share of manufacturing - recent values

Historical chart
Latvia - Share of manufacturing - historical chart - 1995-2022

The importance of manufacturing in the economy of Latvia and other countries is measured as the value added of manufacturing as percent of GDP. Manufacturing is part of the industrial sector of the economy.
Definition: Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Note: For VAB countries, gross value added at factor cost is used as the denominator.

 Related indicators Latest value Reference Measure
 Share of industry 20.86 2022 percent
 Share of manufacturing 12.61 2022 percent
 Share of services 62.08 2022 percent
 Industry value added 8.83 2022 billion U.S. dollars
 Manufacturing value added 5.31 2022 billion U.S. dollars
 Services value added 25.24 2022 billion U.S. dollars
 Savings, percent of GDP 21.41 2022 percent
 Savings, in dollars 8.76 2022 billion U.S. dollars
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