CSB publishes detailed GDP estimate for 2024

On 30 September 2026, Central Statistical Bureau of Latvia (CSB) published a detailed estimate of Latvia’s gross domestic product (GDP) for 2024 and a revised GDP estimates for 2018–2025 on the official statistics portal. GDP revisions are carried out in all European Union Member States in accordance with the Harmonised European Revision Policy.

GDP data are revised to improve their quality. Revisions may bring new or more detailed data sources into the calculations or address shortcomings in methods used previously. Methodological changes may involve improvements at national level or new guidelines at European level. The revisions help make GDP data more accurate, reliable and comparable for domestic and international use.

This benchmark revision¹ covered all national accounts time series from 2018 onwards. Its impact on GDP at current prices ranged from −0.2 % to −0.03 % in 2018–2023 and was +1.1 % in 2024 and +1.5 % in 2025.

For GDP growth rates, the impact of the revisions ranged from −0.2 to +0.02 percentage points in 2018–2023 and was +0.5 percentage points in 2024 and +0.3 percentage points in 2025.

The routine revision covered 2024 value added estimates for all economic activities. The largest changes to previously published estimates concerned agriculture, forestry and fishing; electricity, gas, steam and air conditioning supply; as well as mining and quarrying.

As revisions to annual GDP data also affect the quarterly time series, the CSB used the revised 2024 estimate to recalculate the estimate for 2025 and all quarterly estimates.

National accounts tables on the official statistics portal will be revised gradually in accordance with the data release calendar.

GDP data for 2025 recalculated using annual data sources will be published on 30 September 2027.

Methodological information

¹ A benchmark revision is a data revision coordinated at European level that may result in substantial changes across the entire GDP time series. It must take place at least once every five years to incorporate new data sources and/or methodological changes.

Media requests:
Public Relations Section
Email: media@csp.gov.lv
Phone: +371 27880666

More information on the annual data revision:
Inese Medne
Annual National Accounts Section
Email: Inese.Medne@csp.gov.lv
Phone: +371 67366799

More information on the quarterly data revision:
Gita Ķiņķevska
Quarterly National Accounts Section
Email: Gita.Kinkevska@csp.gov.lv
Phone: +371 67366791