Expense in Latvia
Latvia: Expense was 34.2% in 2023. ▲ Rising
Expense in Latvia, 1994–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for expense in Latvia is 34.2%, measured in 2023.
Compared with earlier readings it is down 5.9% on the previous year and up 7.9% over ten years.
Over the whole period, expense in Latvia peaked at 39.6% in 2010 and was at its lowest, 17.7%, in 1994.
Latvia ranks 40th of 157 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 30 years of available data.
Expense in Latvia, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1994 | 17.7% | — |
| 1995 | 32.3% | +82.2% |
| 1996 | 31.2% | -3.3% |
| 1997 | 32.3% | +3.4% |
| 1998 | 33.7% | +4.4% |
| 1999 | 35.6% | +5.6% |
| 2000 | 32.4% | -8.9% |
| 2001 | 29.7% | -8.4% |
| 2002 | 29.8% | +0.3% |
| 2003 | 28.4% | -4.5% |
| 2004 | 28.3% | -0.6% |
| 2005 | 28.2% | -0.2% |
| 2006 | 27.8% | -1.5% |
| 2007 | 26.1% | -6.1% |
| 2008 | 30.6% | +17.4% |
| 2009 | 37.8% | +23.4% |
| 2010 | 39.6% | +4.6% |
| 2011 | 35.1% | -11.2% |
| 2012 | 31.9% | -9.1% |
| 2013 | 31.7% | -0.8% |
| 2014 | 32.3% | +1.9% |
| 2015 | 31.2% | -3.2% |
| 2016 | 30.7% | -1.7% |
| 2017 | 30.4% | -0.9% |
| 2018 | 30.7% | +0.7% |
| 2019 | 31.8% | +3.6% |
| 2020 | 36.2% | +14.0% |
| 2021 | 38.5% | +6.4% |
| 2022 | 36.4% | -5.6% |
| 2023 | 34.2% | -5.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 30.5% | 17.7% | 35.6% | 6 |
| 2000s | 29.9% | 26.1% | 37.8% | 10 |
| 2010s | 32.5% | 30.4% | 39.6% | 10 |
| 2020s | 36.3% | 34.2% | 38.5% | 4 |
Countries ranked near Latvia
More economy & growth data for Latvia
- GDP (constant 2015 US$), annual growth rate 2.14 % change on previous year (2025)
- GDP (constant 2015 US$), per unit of GDP 0.642 constant 2015 US$ per US$ of GDP (2025)
- GDP (constant 2015 US$), per capita 16,892 constant 2015 US$ per person (2025)
- GDP (constant LCU), annual growth rate 2.14 % change on previous year (2025)
- GDP (constant LCU), per unit of GDP 0.6625 constant LCU per US$ of GDP (2025)
- GDP (constant LCU), per capita 17,433 constant LCU per person (2025)
- Gross domestic savings (current US$), annual growth rate 8.25 % change on previous year (2025)
- Gross domestic savings (current US$), per unit of GDP 0.1948 current US$ per US$ of GDP (2025)
- Gross domestic savings (current US$), per capita 5,125 current US$ per person (2025)
- Gross domestic savings (current LCU), annual growth rate 3.69 % change on previous year (2025)
Frequently asked questions
- What is expense in Latvia?
- Expense in Latvia was 34.2% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest expense recorded in Latvia?
- The highest recorded value was 39.6% in 2010.
- What is the lowest expense recorded in Latvia?
- The lowest recorded value was 17.7% in 1994.
- How does Latvia rank for expense?
- Latvia ranks 40th out of 157 countries with data for 2023.
- Is expense rising or falling in Latvia?
- Over the last ten years it is up 7.9%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Expense (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 30 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Expense is a decrease in net worth resulting from a transaction. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.