Economic growth accelerates in the fourth quarter of 2025

GDP reading: Latvia's GDP increased 2.9% in annual terms in Q4, following a 2.6% expansion in the previous quarter. Q4's reading was the strongest since Q1 2022. In seasonally adjusted quarter-on-quarter terms, economic output increased 0.6% in Q4, following a 0.8% expansion in the previous quarter. In 2025 as a whole, GDP grew 2.1% after flatlining in 2024, marking the best reading since 2021.

Drivers: Compared with the prior quarter's data, figures in Q4 improved for private consumption (+2.2% in annual terms vs +1.7% in Q3), fixed investment (+11.8% vs +10.4% in Q3) and imports of goods and services (+6.1% vs +5.8% in Q3). In contrast, readings worsened for government consumption (+3.4% vs +6.0% in Q3) and exports of goods and services (-1.9% vs +3.2% in Q3).

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Latvian imports projections for the next ten years from a panel of 9 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable imports forecast available for Latvian imports.

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