Services balance (credit less debit), Net (credits less debits) in Latvia
Latvia: Services balance (credit less debit), Net (credits less debits) was 2.56 billion in 2024. ▲ Rising
Services balance (credit less debit), Net (credits less debits) in Latvia, 2005–2024
Source: International Monetary Fund.
Analysis
The most recent figure for services balance (credit less debit), net (credits less debits) in Latvia is 2.56 billion, measured in 2024.
Compared with earlier readings it is up 8.0% on the previous year and down 5.2% over ten years.
Over the whole period, services balance (credit less debit), net (credits less debits) in Latvia peaked at 2.86 billion in 2019 and was at its lowest, 865.77 million, in 2005.
Latvia ranks 49th of 197 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 20 years of available data.
Services balance (credit less debit), Net (credits less debits) in Latvia, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | 865.77 million | — |
| 2006 | 990.07 million | +14.4% |
| 2007 | 1.56 billion | +57.5% |
| 2008 | 2.05 billion | +31.5% |
| 2009 | 1.99 billion | -3.1% |
| 2010 | 1.71 billion | -13.7% |
| 2011 | 2.03 billion | +18.6% |
| 2012 | 2.04 billion | +0.5% |
| 2013 | 2.30 billion | +12.8% |
| 2014 | 2.70 billion | +17.2% |
| 2015 | 2.28 billion | -15.4% |
| 2016 | 2.43 billion | +6.4% |
| 2017 | 2.65 billion | +9.1% |
| 2018 | 2.83 billion | +6.8% |
| 2019 | 2.86 billion | +1.2% |
| 2020 | 2.26 billion | -21.2% |
| 2021 | 2.06 billion | -8.8% |
| 2022 | 2.47 billion | +20.3% |
| 2023 | 2.37 billion | -4.2% |
| 2024 | 2.56 billion | +8.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 1.49 billion | 865.77 million | 2.05 billion | 5 |
| 2010s | 2.38 billion | 1.71 billion | 2.86 billion | 10 |
| 2020s | 2.34 billion | 2.06 billion | 2.56 billion | 5 |
Countries ranked near Latvia
- 46 Jordan 2.95 billion compare
- 47 El Salvador 2.74 billion compare
- 48 Cayman Islands 2.65 billion compare
- 50 Bosnia and Herzegovina 2.48 billion compare
- 51 Kenya 2.41 billion compare
- 52 Andorra 2.34 billion compare
More financial sector data for Latvia
- Total reserves in months of imports, annual growth rate 9.15 % change on previous year (2025)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2025)
- Total reserves in months of imports, per capita 0 units per person (2025)
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 7.71 % change on previous year (2025)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.0673 SDR per US$ of GDP (2025)
- Reserves excluding gold, foreign exchange (SDR), per capita 1,770 SDR per person (2025)
- Reserves excluding gold (SDR), annual growth rate 7.33 % change on previous year (2025)
- Reserves excluding gold (SDR), per capita 2,041 SDR per person (2025)
- Total reserves (gold at market value) (SDR), annual growth rate 12.98 % change on previous year (2025)
- Total reserves (gold at market value) (SDR), per capita 2,410 SDR per person (2025)
Frequently asked questions
- What is services balance (credit less debit), net (credits less debits) in Latvia?
- Services balance (credit less debit), net (credits less debits) in Latvia was 2.56 billion in 2024, according to International Monetary Fund.
- What is the highest services balance (credit less debit), net (credits less debits) recorded in Latvia?
- The highest recorded value was 2.86 billion in 2019.
- What is the lowest services balance (credit less debit), net (credits less debits) recorded in Latvia?
- The lowest recorded value was 865.77 million in 2005.
- How does Latvia rank for services balance (credit less debit), net (credits less debits)?
- Latvia ranks 49th out of 197 countries with data for 2024.
- Is services balance (credit less debit), net (credits less debits) rising or falling in Latvia?
- Over the last ten years it is down 5.2%. 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 Services 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.