Domestic credit to private sector by banks in Latvia
Latvia: Domestic credit to private sector by banks was 29.3% in 2024. ▼ Falling
Domestic credit to private sector by banks in Latvia, 2010–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Latvia recorded 29.3% for domestic credit to private sector by banks in 2024.
Compared with earlier readings it is up 2.7% on the previous year and down 44.9% over ten years.
Over the whole period, domestic credit to private sector by banks in Latvia peaked at 96.6% in 2010 and was at its lowest, 28.6%, in 2023.
Latvia ranks 117th of 187 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 15 years of available data.
Domestic credit to private sector by banks in Latvia, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2010 | 96.6% | — |
| 2011 | 82.9% | -14.2% |
| 2012 | 67.2% | -18.9% |
| 2013 | 60.3% | -10.2% |
| 2014 | 53.2% | -11.8% |
| 2015 | 50.0% | -6.1% |
| 2016 | 48.4% | -3.2% |
| 2017 | 43.7% | -9.7% |
| 2018 | 37.9% | -13.2% |
| 2019 | 35.7% | -5.8% |
| 2020 | 34.7% | -2.8% |
| 2021 | 32.5% | -6.6% |
| 2022 | 31.0% | -4.5% |
| 2023 | 28.6% | -7.9% |
| 2024 | 29.3% | +2.7% |
Latvia compared with similar countries
- Latvia's 29.3% is below the median for high income countries, which is 64.3%, 46% of the median. (61 countries reporting)
- Latvia's 29.3% is below the median for Europe & Central Asia, which is 52.1%, 56% of the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 57.6% | 35.7% | 96.6% | 10 |
| 2020s | 31.2% | 28.6% | 34.7% | 5 |
Countries ranked near Latvia
More financial sector data for Latvia
- Reserve position in the IMF, US dollar, annual growth rate 68.5 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 43.27 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 60.46 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0012 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 31.6 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 68.5 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 43.27 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 60.46 % change on previous year (2025)
Frequently asked questions
- What is domestic credit to private sector by banks in Latvia?
- Domestic credit to private sector by banks in Latvia was 29.3% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest domestic credit to private sector by banks recorded in Latvia?
- The highest recorded value was 96.6% in 2010.
- What is the lowest domestic credit to private sector by banks recorded in Latvia?
- The lowest recorded value was 28.6% in 2023.
- How does Latvia rank for domestic credit to private sector by banks?
- Latvia ranks 117th out of 187 countries with data for 2024.
- Is domestic credit to private sector by banks rising or falling in Latvia?
- Over the last ten years it is down 44.9%. The long-run trend across the full record is falling.
- Where does this Latvia data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Domestic credit to private sector by banks (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 15 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Domestic credit to private sector by banks refers to financial resources provided to the private sector by other depository corporations (deposit taking corporations except central banks), such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.