Latvia: Manufacturing, value added (current US$)

Key figures

What the numbers say

In 2025, Latvia's manufacturing, value added (current US$) rose 10.9% on 2024 (from US$4.38 billion to US$4.86 billion).

Across the 29 yearly changes before that (1996 to 2024), the average change was +5.9% and a typical year strayed about 12.7% from that (the standard deviation). This year's change was 0.4 standard deviations above 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 36.6% in 2007 and the biggest yearly fall was 25.4% 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 2016 to 2025 the straight-line trend is upward, about US$212.93 million a year. A straight line explains 81% 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 2025, Latvia had the 81st highest value of the 132 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 2025 ranking

• Ethiopia — 78th of 132: US$5.31 billion
• Estonia — 79th of 132: US$5.07 billion
• Senegal — 80th of 132: US$4.89 billion
• El Salvador — 82nd of 132: US$4.65 billion
• Azerbaijan — 83rd of 132: US$4.54 billion
• Panama — 84th of 132: US$4.34 billion

What this measures

Manufacturing includes industries classified in ISIC (Rev. 3) major division C and is defined as the physical or chemical transformation of materials or components into new products. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

Limitations: In establishing classifications systems compilers must define both the types of activities to be described and the units whose activities are to be reported. There are many possibilities, and the choices affect how the statistics can be interpreted and how useful they are in analyzing economic behavior. The ISIC emphasizes commonalities in the production process and is explicitly not intended to measure outputs (for which there is a newly developed Central Product Classification). Nevertheless, the ISIC views an activity as defined by "a process resulting in a homogeneous set of products."

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 31 values

Manufacturing, value added (current US$) in nearby economies

• Albania — US$1.84 billion (2025)
• Andorra — US$126.39 million (2024)
• Armenia — US$3.21 billion (2025)
• Austria — US$88.24 billion (2025)
• Azerbaijan — US$4.54 billion (2025)
• Belarus — US$19.15 billion (2025)
• Belgium — US$81.04 billion (2025)
• Bosnia and Herzegovina — US$3.92 billion (2025)
• Croatia — US$10.66 billion (2025)
• Cyprus — US$1.81 billion (2025)

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

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Questions people ask

What is Latvia's manufacturing, value added (current US$)?

US$4.86 billion in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1995?

It is up 376.11% from US$1.02 billion in 1995 (5.34% a year on average, compounded). The highest value was US$4.91 billion in 2021 and the lowest US$1.02 billion in 1995.

How does Latvia rank?

81st highest of 132 economies with data for 2025.

Is the latest change in manufacturing, value added (current US$) unusual for Latvia?

In 2025, Latvia's manufacturing, value added (current US$) rose 10.9% on 2024 (from US$4.38 billion to US$4.86 billion). Across the 29 yearly changes before that (1996 to 2024), the average change was +5.9% and a typical year strayed about 12.7% from that (the standard deviation). This year's change was 0.4 standard deviations above 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 NV.IND.MANF.CD, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; Staff estimates, World Bank (WB) 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.

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