Remittance inflows to GDP in Latvia
Latvia: Remittance inflows to GDP was 3.2% in 2020. ◆ Volatile
Remittance inflows to GDP in Latvia, 1996–2020
Source: World Development Indicators (WDI), World Bank. Measured in %.
Analysis
In 2020, remittance inflows to gdp in Latvia stood at 3.2%.
That represents a change of down 2.9% on the previous year and down 38.4% over ten years.
Over the whole period, remittance inflows to gdp in Latvia peaked at 6.0% in 2009 and was at its lowest, 0.6%, in 1999.
Latvia ranks 79th of 195 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.7% | 0.6% | 0.7% | 4 |
| 2000s | 2.8% | 1.2% | 6.0% | 10 |
| 2010s | 4.7% | 3.3% | 5.5% | 10 |
| 2020s | 3.2% | 3.2% | 3.2% | 1 |
Countries ranked near Latvia
- 76 North Macedonia 3.4% compare
- 77 Ecuador 3.4% compare
- 78 Azerbaijan 3.3% compare
- 80 Saint Kitts and Nevis 3.2% compare
- 81 India 3.1% compare
- 82 Kenya 3.1% compare
More financial sector data for Latvia
- Domestic credit to private sector by banks 29.3% (2024)
- Total reserves in months of imports 2.02 (2025)
- Net domestic credit 16.04 billion current LCU (2024)
- Net foreign assets 9.50 billion current LCU (2024)
- Monetary Sector credit to private sector 29.3% (2024)
- Claims on central government, etc. 3.5% (2024)
- Domestic credit to private sector 29.3% (2024)
- Official exchange rate 0.885 LCU per US$, period average (2025)
- Net migration -7,330 (2025)
- GDP deflator: linked series 133.57 base year varies by country (2025)
Frequently asked questions
- What is remittance inflows to gdp in Latvia?
- Remittance inflows to gdp in Latvia was 3.2% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest remittance inflows to gdp recorded in Latvia?
- The highest recorded value was 6.0% in 2009.
- What is the lowest remittance inflows to gdp recorded in Latvia?
- The lowest recorded value was 0.6% in 1999.
- How does Latvia rank for remittance inflows to gdp?
- Latvia ranks 79th out of 195 countries with data for 2020.
- Is remittance inflows to gdp rising or falling in Latvia?
- Over the last ten years it is down 38.4%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from World Development Indicators (WDI), World Bank, published as part of Remittance inflows to GDP (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 25 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by nonresident workers. Data are the sum of three items defined in the fifth edition of the IMF's Balance of Payments Manual: workers' remittances, compensation of employees, and migrants' transfers. Remittances are classified as current private transfers from migrant workers resident in the host country for more than a year, irrespective of their immigration status, to recipients in their country of origin. Migrants' transfers are defined as the net worth of migrants who are expected to remain in the host country for more than one year that is transferred from one country to another at the time of migration. Compensation of employees is the income of migrants who have lived in the host country for less than a year.