Latvia: GNI per capita, PPP (constant 2021 international $)

Key figures

What the numbers say

In 2024, Latvia's GNI per capita, PPP (constant 2021 international $) rose 433.27 on 2023 (from 36,447 to 36,880).

Across the 28 yearly changes before that (1996 to 2023), the average change was +940.04 and a typical year strayed about 1,142 from that (the standard deviation). This year's change was 0.4 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 3,506 in 2007 and the biggest yearly fall was 1,940 in 2009. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 860.95 a year. A straight line explains 91% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Latvia had the 23rd highest value of the 48 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Latvia in the 2024 ranking

• Hungary — 20th of 48: 39,824
• Greece — 21st of 48: 38,018
• Slovak Republic — 22nd of 48: 37,668
• Oman — 24th of 48: 36,390
• Panama — 25th of 48: 35,040
• Bahamas, The — 26th of 48: 34,710

What this measures

This indicator provides values for gross national income (GNI) per person expressed in constant international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate based comparisons. Gross national income is the total income earned by all residents within an economic territory during an accounting period. It is equal to gross domestic product plus earned income receivable from abroad minus earned income payable abroad. The core indicator has been divided by the general population to achieve a per capita estimate. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2021. The PPP conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of GDP and its expenditure components.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 30 values

GNI per capita, PPP (constant 2021 international $) in nearby economies

• Albania — 22,397 (2024)
• Armenia — 20,437 (2025)
• Austria — 62,385 (2024)
• Belarus — 30,113 (2025)
• Belgium — 62,975 (2024)
• Bosnia and Herzegovina — 21,136 (2025)
• Bulgaria — 33,267 (2025)
• Croatia — 44,131 (2025)
• Cyprus — 48,268 (2025)
• Czechia

More economic policy & debt data for Latvia

• Adjusted savings, education expenditure (% of GNI) — 3.81% (2021)
• Adjusted savings, mineral depletion (current US$) — US$0 (2021)
• Net financial flows, IBRD (NFL, current US$) — −US$88.67 million (2016)
• GDP (current LCU) — 43.03 billion (2025)
• GDP, linked series (current LCU) — 43.03 billion (2025)
• GDP (constant 2015 US$) — US$31.21 billion (2025)
• GDP (constant LCU) — 32.21 billion (2025)
• GDP, PPP (current international $) — 85.25 billion (2025)
• GDP, PPP (constant 2021 international $) — 71.7 billion (2025)
• GDP per capita (current LCU) — 23,285 (2025)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Latvia's GNI per capita, PPP (constant 2021 international $)?

36,880 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1995?

It is up 264.23% from 10,126 in 1995 (4.56% a year on average, compounded). The highest value was 36,880 in 2024 and the lowest 10,126 in 1995.

How does Latvia rank?

23rd highest of 48 economies with data for 2024.

Is the latest change in GNI per capita, PPP (constant 2021 international $) unusual for Latvia?

In 2024, Latvia's GNI per capita, PPP (constant 2021 international $) rose 433.27 on 2023 (from 36,447 to 36,880). Across the 28 yearly changes before that (1996 to 2023), the average change was +940.04 and a typical year strayed about 1,142 from that (the standard deviation). This year's change was 0.4 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NY.GNP.PCAP.PP.KD, licensed CC BY 4.0. Original source: International Comparison Program (ICP), World Bank (WB), uri: https://www.worldbank.org/en/programs/icp/data, note: This information is for ICP’s PPPs utilized in WDI, publisher: International Comparison Program (ICP), date accessed: May 30, 2024, date published: May 30, 2024; The Eurostat PPP Progr… Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.