Latvia: PPP conversion factor, GDP (LCU per international $)

Key figures

What the numbers say

In 2025, Latvia's PPP conversion factor, GDP (LCU per international $) rose 0.00817 on 2024 (from 0.5 to 0.5).

Across the 30 yearly changes before that (1995 to 2024), the average change was +0.00845 and a typical year strayed about 0.03 from that (the standard deviation). This year's change was 0.0 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 0.11 in 1992 and the biggest yearly fall was 0.06 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 there is no clear straight-line trend: a straight line explains 9% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

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 170th highest value of the 185 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

• Greece — 167th of 185: 0.53
• Lithuania — 168th of 185: 0.51
• Slovak Republic — 169th of 185: 0.51
• Azerbaijan — 171st of 185: 0.48
• Croatia — 172nd of 185: 0.47
• Liberia — 173rd of 185: 0.46

What this measures

The purchasing power parity (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 gross domestic product (GDP) and its expenditure components. This conversion factor is for the level of GDP and the base currency is the US dollar.

Limitations: Global PPP estimates provided by ICP are produced by the ICP Global Office and regional implementing agencies, based on data supplied by the national implementing agencies in the participating economies, and in accordance with the methodology recommended by the ICP Technical Advisory Group and approved by the ICP Governing Board. As such, these results are not produced by participating economies as part of their national official statistics.

Regional and income-group figures are computed by the World Bank as a no aggregation provided for this indicator..

All 36 values

PPP conversion factor, GDP (LCU per international $) in nearby economies

• Albania — 39.98 (2025)
• Andorra — 0.6 (2025)
• Armenia — 148.12 (2025)
• Austria — 0.73 (2025)
• Azerbaijan — 0.48 (2025)
• Belarus — 0.91 (2025)
• Belgium — 0.72 (2025)
• Bosnia and Herzegovina — 0.7 (2025)
• Bulgaria — 0.41 (2025)
• Croatia

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
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Latvia's PPP conversion factor, GDP (LCU per international $)?

0.5 in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1990?

It is up 10,566% from 0.00473 in 1990 (14.27% a year on average, compounded). The highest value was 0.61 in 2008 and the lowest 0.00473 in 1990.

How does Latvia rank?

170th highest of 185 economies with data for 2025.

Is the latest change in PPP conversion factor, GDP (LCU per international $) unusual for Latvia?

In 2025, Latvia's PPP conversion factor, GDP (LCU per international $) rose 0.00817 on 2024 (from 0.5 to 0.5). Across the 30 yearly changes before that (1995 to 2024), the average change was +0.00845 and a typical year strayed about 0.03 from that (the standard deviation). This year's change was 0.0 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 PA.NUS.PPP, licensed CC BY 4.0. Original source: International Comparison Program (ICP), World Bank (WB), uri: https://www.worldbank.org/en/programs/icp/data, publisher: International Comparison Program, type: International statistical program, date accessed: May 30, 2024, date published: May 30, 2024; The Eurostat PPP Programme, Eurostat (ESTAT),… 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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