Goods balance (credit less debit), Net (credits less debits) in Latvia
Latvia: Goods balance (credit less debit), Net (credits less debits) 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) 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% |
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
- Net domestic credit (current LCU), per capita 8,595 current LCU per person (2024)
- Net domestic credit (current LCU), per unit of GDP 0.3645 current LCU per US$ of GDP (2024)
- Net domestic credit (current LCU), annual growth rate -4.89 % change on previous year (2024)
- Gold reserves at 35 SDRs per ounce 7.49 million SDR (2025)
- Gold reserves at market value 682.52 million SDR (2025)
- Reserves excluding gold, foreign exchange 3.27 billion SDR (2025)
- Reserves excluding gold 3.77 billion SDR (2025)
- Total reserves (gold at market value) 4.45 billion SDR (2025)
- Total reserves (gold at national valuation) 4.45 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 2,406 SDR per person (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.