Latvia's economy showed a growth of 2.1% in Gross Domestic Product (GDP) over the last year in comparison to 2024, according to recent figures released by the Central Statistical Bureau (CSP). In the fourth quarter alone, the GDP's growth was even more pronounced, with an increase of 2.9% when compared to the corresponding period of 2024. The seasonally and calendar-adjusted data indicates a slightly lower growth rate of 2.5%. These figures underscore ongoing economic resilience within the country despite global challenges.

The total GDP in nominal terms reached €43 billion for the year, marking substantial contributions from various sectors. Notably, the fourth quarter alone accounted for approximately €11.821 billion. Key contributors to this growth included not just the manufacturing sector but also significant contributions from construction, trade, as well as information and communication services. In contrast, declines were reported in the sectors of agriculture, forestry, fishing, and transportation and storage.

The economic performance signals a mixed but hopeful outlook for Latvia as it navigates through external economic pressures. The overall growth could positively influence government policy and investment strategies, drawing attention to sectors that are thriving while also recognizing the need for support in declining sectors. Encouragingly, this performance may foster confidence among investors and consumers alike, reinforcing Latvia's economic position within the Baltic region.