Financial Development Index in Latvia
Latvia: Financial Development Index was 0.2092 in 2020. ◆ Volatile
Financial Development Index in Latvia, 1980–2020
Source: International Monetary Fund.
Analysis
In 2020, financial development index in Latvia stood at 0.2092.
That represents a change of down 3.0% on the previous year and down 32.1% over ten years.
Over the whole period, financial development index in Latvia peaked at 0.3144 in 2007 and was at its lowest, 0, in 1980.
That places Latvia 112th out of 183 countries with data for 2020, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Financial Development Index in Latvia, year by year
| Year | Value | Change |
|---|---|---|
| 1980 | 0 | — |
| 1981 | 0 | — |
| 1982 | 0 | — |
| 1983 | 0 | — |
| 1984 | 0 | — |
| 1985 | 0 | — |
| 1986 | 0 | — |
| 1987 | 0 | — |
| 1988 | 0 | — |
| 1989 | 0 | — |
| 1990 | 0 | — |
| 1991 | 0 | — |
| 1992 | 0 | — |
| 1993 | 0.0808 | — |
| 1994 | 0.0943 | +16.7% |
| 1995 | 0.0966 | +2.5% |
| 1996 | 0.1179 | +22.1% |
| 1997 | 0.1428 | +21.1% |
| 1998 | 0.1227 | -14.1% |
| 1999 | 0.147 | +19.8% |
| 2000 | 0.1688 | +14.9% |
| 2001 | 0.1849 | +9.5% |
| 2002 | 0.2007 | +8.6% |
| 2003 | 0.2267 | +12.9% |
| 2004 | 0.2532 | +11.7% |
| 2005 | 0.2504 | -1.1% |
| 2006 | 0.2872 | +14.7% |
| 2007 | 0.3144 | +9.5% |
| 2008 | 0.3025 | -3.8% |
| 2009 | 0.2986 | -1.3% |
| 2010 | 0.3079 | +3.1% |
| 2011 | 0.2934 | -4.7% |
| 2012 | 0.2726 | -7.1% |
| 2013 | 0.2608 | -4.4% |
| 2014 | 0.2421 | -7.2% |
| 2015 | 0.2393 | -1.2% |
| 2016 | 0.2466 | +3.1% |
| 2017 | 0.2497 | +1.2% |
| 2018 | 0.2455 | -1.7% |
| 2019 | 0.2156 | -12.2% |
| 2020 | 0.2092 | -3.0% |
Latvia compared with similar countries
- Latvia's 0.2092 is below the median for high income countries, which is 0.4828, 43% of the median. (62 countries reporting)
- Latvia's 0.2092 is below the median for Europe & Central Asia, which is 0.4521, 46% of the median. (47 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 0 | 0 | 0 | 10 |
| 1990s | 0.0802 | 0 | 0.147 | 10 |
| 2000s | 0.2487 | 0.1688 | 0.3144 | 10 |
| 2010s | 0.2573 | 0.2156 | 0.3079 | 10 |
| 2020s | 0.2092 | 0.2092 | 0.2092 | 1 |
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 financial development index in Latvia?
- Financial development index in Latvia was 0.2092 in 2020, according to International Monetary Fund.
- What is the highest financial development index recorded in Latvia?
- The highest recorded value was 0.3144 in 2007.
- What is the lowest financial development index recorded in Latvia?
- The lowest recorded value was 0 in 1980.
- How does Latvia rank for financial development index?
- Latvia ranks 112th out of 183 countries with data for 2020.
- Is financial development index rising or falling in Latvia?
- Over the last ten years it is down 32.1%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from International Monetary Fund, published as part of Financial Development Index. Statizoid updates them automatically from the source API.
Download this data
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About this data
The dataset contains nine indices that summarize how developed financial institutions and financial markets are in terms of their depth, access, and efficiency. These indices are aggregated into an overall index of financial development. With the coverage of over 180 countries on annual frequency from 1980 onwards, the database should offer a useful analytical tool for researchers and policy makers.