Share of World GDP: Latvia

Analysis# Latvia Share of World GDP Latvia currently accounts for 0.039% of global GDP in 2026, placing it among the world's smallest economies by share. The country peaked at 0.059% in 2007, before the financial crisis triggered a significant contraction. Since 1992, Latvia's share has declined 18.8% overall, though it remains marginally above its all-time low of 0.038% recorded in 1996. The period from 2007 to 2024 reveals Latvia's struggle to regain pre-crisis prominence. After hitting its apex during the pre-2008 boom, the country's share contracted sharply and has remained relatively flat since 2017, hovering between 0.040% and 0.044%. Projections through 2026 suggest continued stagnation at approximately 0.039%, indicating Latvia faces ongoing challenges in expanding its economic footprint relative to global growth.