Goods balance (credit less debit), Net (credits less debits) (US) in Latvia
Latvia: Goods balance (credit less debit), Net (credits less debits) (US) was -3.26 billion in 2024. ▲ Rising
Goods balance (credit less debit), Net (credits less debits) in Latvia, 2005–2024
Source: International Monetary Fund.
Analysis
In 2024, goods balance (credit less debit), net (credits less debits) in Latvia stood at -3.26 billion.
That represents a change of up 17.5% on the previous year and up 9.0% over ten years.
Over the whole period, goods balance (credit less debit), net (credits less debits) in Latvia peaked at -1.77 billion in 2020 and was at its lowest, -7.27 billion, in 2007.
That places Latvia 134th out of 198 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 20 years of available data.
Goods balance (credit less debit), Net (credits less debits) (US) in Latvia, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | -3.30 billion | — |
| 2006 | -5.44 billion | +64.8% |
| 2007 | -7.27 billion | +33.7% |
| 2008 | -6.32 billion | -13.2% |
| 2009 | -2.27 billion | -64.0% |
| 2010 | -2.18 billion | -4.0% |
| 2011 | -3.69 billion | +69.0% |
| 2012 | -3.60 billion | -2.4% |
| 2013 | -3.67 billion | +1.9% |
| 2014 | -3.58 billion | -2.4% |
| 2015 | -2.60 billion | -27.4% |
| 2016 | -2.29 billion | -12.0% |
| 2017 | -2.78 billion | +21.4% |
| 2018 | -2.98 billion | +7.4% |
| 2019 | -2.93 billion | -1.7% |
| 2020 | -1.77 billion | -39.7% |
| 2021 | -3.28 billion | +85.2% |
| 2022 | -4.31 billion | +31.6% |
| 2023 | -3.95 billion | -8.4% |
| 2024 | -3.26 billion | -17.5% |
Latvia compared with similar countries
- Latvia's -3.26 billion is below the median for high income countries, which is -810.36 million, 4.0× the median. (72 countries reporting)
- Latvia's -3.26 billion is below the median for Europe & Central Asia, which is -3.17 billion, 1.0× the median. (50 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -4.92 billion | -7.27 billion | -2.27 billion | 5 |
| 2010s | -3.03 billion | -3.69 billion | -2.18 billion | 10 |
| 2020s | -3.31 billion | -4.31 billion | -1.77 billion | 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 goods balance (credit less debit), net (credits less debits) in Latvia?
- Goods balance (credit less debit), net (credits less debits) in Latvia was -3.26 billion in 2024, according to International Monetary Fund.
- What is the highest goods balance (credit less debit), net (credits less debits) recorded in Latvia?
- The highest recorded value was -1.77 billion in 2020.
- What is the lowest goods balance (credit less debit), net (credits less debits) recorded in Latvia?
- The lowest recorded value was -7.27 billion in 2007.
- How does Latvia rank for goods balance (credit less debit), net (credits less debits)?
- Latvia ranks 134th out of 198 countries with data for 2024.
- Is goods balance (credit less debit), net (credits less debits) rising or falling in Latvia?
- Over the last ten years it is up 9.0%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from International Monetary Fund, published as part of Goods balance (credit less debit), Net (credits less debits) (US dollar). Statizoid updates them automatically from the source API.
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About this data
The World and Country Group Aggregates (historically called BOPSY) is an annual publication, released each November, of major balance of payments and international investment position components for countries, country groups, and the world.