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 81st of 197 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.
Remittance inflows to GDP in Latvia, year by year
| Year | % | Change |
|---|---|---|
| 1996 | 0.7% | — |
| 1997 | 0.7% | +2.6% |
| 1998 | 0.7% | -1.6% |
| 1999 | 0.6% | -6.4% |
| 2000 | 3.2% | +391.2% |
| 2001 | 3.3% | +3.3% |
| 2002 | 1.2% | -64.0% |
| 2003 | 1.3% | +13.6% |
| 2004 | 1.5% | +13.2% |
| 2005 | 2.2% | +47.2% |
| 2006 | 2.2% | -0.2% |
| 2007 | 1.8% | -20.4% |
| 2008 | 5.4% | +202.2% |
| 2009 | 6.0% | +12.2% |
| 2010 | 5.2% | -12.6% |
| 2011 | 5.5% | +4.4% |
| 2012 | 5.3% | -2.9% |
| 2013 | 5.3% | -0.1% |
| 2014 | 4.9% | -6.8% |
| 2015 | 4.9% | -1.0% |
| 2016 | 4.4% | -10.2% |
| 2017 | 4.2% | -4.9% |
| 2018 | 3.6% | -14.0% |
| 2019 | 3.3% | -7.3% |
| 2020 | 3.2% | -2.9% |
Latvia compared with similar countries
- Latvia's 3.2% is above the median for high income countries, which is 0.8%, 4.2× the median. (67 countries reporting)
- Latvia's 3.2% is above the median for Europe & Central Asia, which is 1.5%, 2.1× the median. (50 countries reporting)
Biggest year-on-year movements
Years where Remittance inflows to GDP in Latvia changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2000 | +391.2% | 0.6% | 3.2% |
| 2008 | +202.2% | 1.8% | 5.4% |
| 2002 | -64.0% | 3.3% | 1.2% |
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
- 78 North Macedonia 3.4% compare
- 79 Ecuador 3.4% compare
- 80 Azerbaijan 3.3% compare
- 82 Saint Kitts and Nevis 3.2% compare
- 83 India 3.1% compare
- 84 Kenya 3.1% compare
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 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 81st out of 197 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.
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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.