External balance on goods and services in Latvia
Latvia: External balance on goods and services was -4.6% 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 % of GDP.
Analysis
Latvia recorded -4.6% for external balance on goods and services in 2025.
The figure is down 189.3% on the previous year and down 285.1% over ten years.
Over the whole period, external balance on goods and services in Latvia peaked at 1.4% in 2020 and was at its lowest, -21.8%, in 2006.
Latvia ranks 105th 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 in Latvia, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1995 | -4.9% | — |
| 1996 | -9.3% | +89.6% |
| 1997 | -9.3% | +0.1% |
| 1998 | -12.4% | +33.6% |
| 1999 | -10.1% | -18.7% |
| 2000 | -8.2% | -19.0% |
| 2001 | -10.6% | +29.6% |
| 2002 | -10.5% | -1.1% |
| 2003 | -13.1% | +25.2% |
| 2004 | -16.0% | +22.0% |
| 2005 | -14.9% | -6.7% |
| 2006 | -21.8% | +46.2% |
| 2007 | -20.1% | -7.7% |
| 2008 | -13.3% | -33.9% |
| 2009 | -2.0% | -84.7% |
| 2010 | -2.1% | +4.5% |
| 2011 | -6.1% | +187.7% |
| 2012 | -5.5% | -9.5% |
| 2013 | -4.5% | -18.4% |
| 2014 | -2.9% | -36.0% |
| 2015 | -1.2% | -59.0% |
| 2016 | 0.5% | -144.3% |
| 2017 | -0.4% | -182.5% |
| 2018 | -0.5% | +13.9% |
| 2019 | -0.2% | -55.9% |
| 2020 | 1.4% | -758.6% |
| 2021 | -3.2% | -321.1% |
| 2022 | -4.9% | +54.1% |
| 2023 | -3.7% | -25.1% |
| 2024 | -1.6% | -56.8% |
| 2025 | -4.6% | +189.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | -9.2% | -12.4% | -4.9% | 5 |
| 2000s | -13.0% | -21.8% | -2.0% | 10 |
| 2010s | -2.3% | -6.1% | 0.5% | 10 |
| 2020s | -2.7% | -4.9% | 1.4% | 6 |
Countries ranked near Latvia
More economy & growth data for Latvia
- Households and NPISHs Final consumption expenditure (current LCU) 4.4 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (current LCU) 0.5099 current LCU per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (current LCU) 13,417 current LCU per person (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.7513 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.3809 constant 2015 US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 10,022 constant 2015 US$ per person (2025)
- Final consumption expenditure (current US$), annual growth rate 11.05 % change on previous year (2025)
- Final consumption expenditure (current US$), per unit of GDP 0.8052 current US$ per US$ of GDP (2025)
- Final consumption expenditure (current US$), per capita 21,187 current US$ per person (2025)
- Final consumption expenditure (current LCU), annual growth rate 6.37 % 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 -4.6% 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 1.4% in 2020.
- What is the lowest external balance on goods and services recorded in Latvia?
- The lowest recorded value was -21.8% in 2006.
- How does Latvia rank for external balance on goods and services?
- Latvia ranks 105th 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 285.1%. 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 (% of GDP). Statizoid updates them automatically from the source API.
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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 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.