External balance on goods and services (current LCU) in Latvia
Latvia: External balance on goods and services (current LCU) was -1.97 billion current LCU in 2025. ◆ Volatile
External balance on goods and services in Latvia, 1995–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
Latvia recorded -1.97 billion current LCU for external balance on goods and services in 2025.
The figure is down 206.2% on the previous year and down 597.8% over ten years.
Over the whole period, external balance on goods and services in Latvia peaked at 419.45 million current LCU in 2020 and was at its lowest, -4.33 billion current LCU, in 2007.
Latvia ranks 96th of 193 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.
External balance on goods and services (current LCU) in Latvia, year by year
| Year | current LCU | Change |
|---|---|---|
| 1995 | -192.50 million current LCU | — |
| 1996 | -421.78 million current LCU | +119.1% |
| 1997 | -487.74 million current LCU | +15.6% |
| 1998 | -726.61 million current LCU | +49.0% |
| 1999 | -615.24 million current LCU | -15.3% |
| 2000 | -547.18 million current LCU | -11.1% |
| 2001 | -774.51 million current LCU | +41.5% |
| 2002 | -851.33 million current LCU | +9.9% |
| 2003 | -1.20 billion current LCU | +40.7% |
| 2004 | -1.70 billion current LCU | +41.8% |
| 2005 | -1.95 billion current LCU | +15.0% |
| 2006 | -3.55 billion current LCU | +81.8% |
| 2007 | -4.33 billion current LCU | +21.8% |
| 2008 | -3.11 billion current LCU | -28.2% |
| 2009 | -377.03 million current LCU | -87.9% |
| 2010 | -377.68 million current LCU | +0.2% |
| 2011 | -1.17 billion current LCU | +210.3% |
| 2012 | -1.17 billion current LCU | -0.1% |
| 2013 | -993.57 million current LCU | -15.2% |
| 2014 | -660.48 million current LCU | -33.5% |
| 2015 | -282.29 million current LCU | -57.3% |
| 2016 | 128.94 million current LCU | -145.7% |
| 2017 | -112.94 million current LCU | -187.6% |
| 2018 | -139.21 million current LCU | +23.3% |
| 2019 | -64.44 million current LCU | -53.7% |
| 2020 | 419.45 million current LCU | -750.9% |
| 2021 | -1.02 billion current LCU | -344.3% |
| 2022 | -1.76 billion current LCU | +72.2% |
| 2023 | -1.45 billion current LCU | -17.9% |
| 2024 | -643.43 million current LCU | -55.6% |
| 2025 | -1.97 billion current LCU | +206.2% |
Latvia compared with similar countries
- Latvia's -1.97 billion current LCU is below the median for high income countries, which is 3.18 billion current LCU. (72 countries reporting)
- Latvia's -1.97 billion current LCU is below the median for Europe & Central Asia, which is 96.00 million current LCU. (52 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services (current LCU) 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 |
|---|---|---|---|
| 2020 | +750.9% | -64.44 million current LCU | 419.45 million current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | -488.77 million current LCU | -726.61 million current LCU | -192.50 million current LCU | 5 |
| 2000s | -1.84 billion current LCU | -4.33 billion current LCU | -377.03 million current LCU | 10 |
| 2010s | -484.48 million current LCU | -1.17 billion current LCU | 128.94 million current LCU | 10 |
| 2020s | -1.07 billion current LCU | -1.97 billion current LCU | 419.45 million current LCU | 6 |
Countries ranked near Latvia
- 93 Fiji -1.37 billion current LCU compare
- 94 East Timor -1.39 billion current LCU compare
- 95 Curacao -1.57 billion current LCU compare
- 97 Montenegro -2.10 billion current LCU compare
- 98 Greenland -2.36 billion current LCU compare
- 99 Kosovo -3.34 billion current LCU compare
- 99 Kosovo (UNSCR 1244) -3.34 billion current LCU compare
More economy & growth data for Latvia
- SDRs holdings, US dollar, annual growth rate 5.34 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0125 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 327.81 units per person (2025)
- SDRs holdings, SDR, annual growth rate 0.3105 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0091 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 239.37 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -2.79 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0077 units per US$ of GDP (2025)
- IMF holdings of currency, US dollar, per capita 203.25 units per person (2025)
- IMF holdings of currency, SDR, annual growth rate -7.43 % change on previous year (2025)
Frequently asked questions
- What is external balance on goods and services in Latvia?
- External balance on goods and services in Latvia was -1.97 billion current LCU in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Latvia?
- The highest recorded value was 419.45 million current LCU in 2020.
- What is the lowest external balance on goods and services recorded in Latvia?
- The lowest recorded value was -4.33 billion current LCU in 2007.
- How does Latvia rank for external balance on goods and services?
- Latvia ranks 96th out of 193 countries with data for 2025.
- Is external balance on goods and services rising or falling in Latvia?
- Over the last ten years it is down 597.8%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 31 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.