External balance on goods and services in Latvia
Latvia: External balance on goods and services was -2.23 billion current US$ 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 US$.
Analysis
The most recent figure for external balance on goods and services in Latvia is -2.23 billion current US$, measured in 2025.
Compared with earlier readings it is down 219.6% on the previous year and down 610.7% over ten years.
Over the whole period, external balance on goods and services in Latvia peaked at 479.10 million current US$ in 2020 and was at its lowest, -5.92 billion current US$, in 2007.
That places Latvia 132nd out of 193 countries with data for 2025, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Latvia, year by year
| Year | current US$ | Change |
|---|---|---|
| 1995 | -274.52 million current US$ | — |
| 1996 | -538.26 million current US$ | +96.1% |
| 1997 | -590.06 million current US$ | +9.6% |
| 1998 | -865.74 million current US$ | +46.7% |
| 1999 | -738.94 million current US$ | -14.6% |
| 2000 | -634.04 million current US$ | -14.2% |
| 2001 | -866.92 million current US$ | +36.7% |
| 2002 | -967.86 million current US$ | +11.6% |
| 2003 | -1.47 billion current US$ | +52.3% |
| 2004 | -2.21 billion current US$ | +50.0% |
| 2005 | -2.43 billion current US$ | +10.0% |
| 2006 | -4.45 billion current US$ | +83.2% |
| 2007 | -5.92 billion current US$ | +32.9% |
| 2008 | -4.54 billion current US$ | -23.3% |
| 2009 | -524.09 million current US$ | -88.5% |
| 2010 | -500.21 million current US$ | -4.6% |
| 2011 | -1.63 billion current US$ | +225.7% |
| 2012 | -1.50 billion current US$ | -7.7% |
| 2013 | -1.32 billion current US$ | -12.3% |
| 2014 | -877.45 million current US$ | -33.5% |
| 2015 | -313.21 million current US$ | -64.3% |
| 2016 | 142.72 million current US$ | -145.6% |
| 2017 | -127.58 million current US$ | -189.4% |
| 2018 | -164.40 million current US$ | +28.9% |
| 2019 | -72.14 million current US$ | -56.1% |
| 2020 | 479.10 million current US$ | -764.1% |
| 2021 | -1.21 billion current US$ | -353.0% |
| 2022 | -1.86 billion current US$ | +53.3% |
| 2023 | -1.57 billion current US$ | -15.7% |
| 2024 | -696.43 million current US$ | -55.6% |
| 2025 | -2.23 billion current US$ | +219.6% |
Latvia compared with similar countries
- Latvia's -2.23 billion current US$ is below the median for high income countries, which is 3.43 billion current US$. (72 countries reporting)
- Latvia's -2.23 billion current US$ is below the median for Europe & Central Asia, which is -50.32 million current US$, 44.2× the median. (52 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services in Latvia changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2020 | +764.1% | -72.14 million current US$ | 479.10 million current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | -601.50 million current US$ | -865.74 million current US$ | -274.52 million current US$ | 5 |
| 2000s | -2.40 billion current US$ | -5.92 billion current US$ | -524.09 million current US$ | 10 |
| 2010s | -636.54 million current US$ | -1.63 billion current US$ | 142.72 million current US$ | 10 |
| 2020s | -1.18 billion current US$ | -2.23 billion current US$ | 479.10 million current US$ | 6 |
Countries ranked near Latvia
More economy & growth data for Latvia
- Foreign direct investment, net outflows (BoP, current US$), gaps 317.22 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0065 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 171.67 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 243.70 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -83.9 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.005 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 131.89 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 18.65 % change on previous year (2025)
- Total reserves (includes gold, current US$), per unit of GDP 0.1255 includes gold, current US$ per US$ of GDP (2025)
- Total reserves (includes gold, current US$), per capita 3,301 includes gold, current US$ per person (2025)
Frequently asked questions
- What is external balance on goods and services in Latvia?
- External balance on goods and services in Latvia was -2.23 billion current US$ 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 479.10 million current US$ in 2020.
- What is the lowest external balance on goods and services recorded in Latvia?
- The lowest recorded value was -5.92 billion current US$ in 2007.
- How does Latvia rank for external balance on goods and services?
- Latvia ranks 132nd 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 610.7%. 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 US$). 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 indicator is expressed in United States dollars.