Gross capital formation fell 12.0% to USD 9,205 bil in Latvia in 2024, according to the National Statistical Office.
Historically, gross capital formation in Latvia reached an all time high of USD 12,847 bil in 2007 and an all time low of USD 0.410 bil in 1993. When compared to Latvia's main peers, gross capital formation in Belarus amounted to USD 19,625 bil, USD 11,197 bil in Estonia, USD 17,324 bil in Lithuania and USD 571,694 bil in Russia in 2024.
Latvia has been ranked 78th within the group of 126 countries we follow in terms of gross capital formation, 21 places above the position seen 10 years ago.
| Gross Capital Formation (USD) | Unit | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| Belarus | USD bil | 16,856 | 18,776 | 16,849 | 16,987 | 15,934 | ||||||||||||||||
| China | USD bil | 6,127,939 | 6,212,756 | 6,384,329 | 7,768,897 | 7,758,145 | ... | |||||||||||||||
| Estonia | USD bil | 8,696 | 8,401 | 9,437 | 11,336 | 11,119 | ||||||||||||||||
| Finland | USD bil | 70,449 | 65,599 | 67,456 | 72,932 | 76,468 | ||||||||||||||||
| Germany | USD bil | 869,988 | 842,888 | 853,700 | 976,688 | 958,504 | ||||||||||||||||
| Japan | USD bil | 1,292,568 | 1,319,915 | 1,274,839 | 1,301,346 | 1,141,299 | ... | |||||||||||||||
| Latvia | USD bil | 7,938 | 7,725 | 7,395 | 9,822 | 9,204 | ||||||||||||||||
| Lithuania | USD bil | 12,158 | 10,793 | 9,484 | 14,638 | 19,943 | ||||||||||||||||
| Poland | USD bil | 127,509 | 124,802 | 114,151 | 150,313 | 153,447 | ||||||||||||||||
| Russia | USD bil | 363,255 | 383,685 | 350,213 | 420,884 | 531,720 | ||||||||||||||||
| USA | USD bil | 4,455,419 | 4,667,673 | 4,573,797 | 5,051,971 | 5,708,454 | ||||||||||||||||
| Ukraine | USD bil | 24,330 | 22,914 | 13,990 | 28,901 | 19,622 |
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