Financing of social security benefits in OECD member countries — Tax in Latvia
Latvia: Financing of social security benefits in OECD member countries — Tax was 10.97 Percentage of GDP in 2024. ▬ Flat
Latest (2024)
10.97 Percentage of GDP
Change on year
up 6.6%
World rank
15th
of 33 countries
All-time high
11.32 Percentage of GDP
in 1995
All-time low
8.23 Percentage of GDP
in 2005
Years of data
30
1995–2024
Financing of social security benefits in OECD member countries — Tax in Latvia, 1995–2024
Source: Organisation for Economic Co-operation and Development. Measured in Percentage of GDP.
Analysis
In 2024, financing of social security benefits in oecd member countries — tax in Latvia stood at 10.97 Percentage of GDP.
Compared with earlier readings it is up 6.6% on the previous year and up 26.2% over ten years.
Over the whole period, financing of social security benefits in oecd member countries — tax in Latvia peaked at 11.32 Percentage of GDP in 1995 and was at its lowest, 8.23 Percentage of GDP, in 2005.
Latvia ranks 15th of 33 countries on this measure, in the middle of the range.
Financing of social security benefits in OECD member countries — Tax in Latvia, year by year
| Year | Percentage of GDP | Change |
|---|---|---|
| 1995 | 11.32 Percentage of GDP | — |
| 1996 | 10.62 Percentage of GDP | -6.3% |
| 1997 | 10.47 Percentage of GDP | -1.4% |
| 1998 | 10.39 Percentage of GDP | -0.7% |
| 1999 | 10.61 Percentage of GDP | +2.1% |
| 2000 | 9.99 Percentage of GDP | -5.8% |
| 2001 | 9.31 Percentage of GDP | -6.8% |
| 2002 | 9.33 Percentage of GDP | +0.2% |
| 2003 | 8.81 Percentage of GDP | -5.6% |
| 2004 | 8.62 Percentage of GDP | -2.1% |
| 2005 | 8.23 Percentage of GDP | -4.5% |
| 2006 | 8.45 Percentage of GDP | +2.6% |
| 2007 | 8.25 Percentage of GDP | -2.4% |
| 2008 | 8.3 Percentage of GDP | +0.6% |
| 2009 | 9.42 Percentage of GDP | +13.5% |
| 2010 | 8.77 Percentage of GDP | -7.0% |
| 2011 | 9.23 Percentage of GDP | +5.3% |
| 2012 | 9.02 Percentage of GDP | -2.3% |
| 2013 | 8.8 Percentage of GDP | -2.3% |
| 2014 | 8.7 Percentage of GDP | -1.2% |
| 2015 | 8.55 Percentage of GDP | -1.7% |
| 2016 | 8.44 Percentage of GDP | -1.3% |
| 2017 | 8.68 Percentage of GDP | +2.9% |
| 2018 | 9.44 Percentage of GDP | +8.7% |
| 2019 | 9.85 Percentage of GDP | +4.3% |
| 2020 | 10.27 Percentage of GDP | +4.3% |
| 2021 | 9.89 Percentage of GDP | -3.7% |
| 2022 | 10 Percentage of GDP | +1.2% |
| 2023 | 10.29 Percentage of GDP | +2.9% |
| 2024 | 10.97 Percentage of GDP | +6.6% |
Latvia compared with similar countries
- Latvia's 10.97 Percentage of GDP is below the median for Europe & Central Asia, which is 11.61 Percentage of GDP, 95% of the median. (25 countries reporting)
- Latvia's 10.97 Percentage of GDP is above the median for high income countries, which is 10.73 Percentage of GDP, 1.0× the median. (31 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 10.68 Percentage of GDP | 10.39 Percentage of GDP | 11.32 Percentage of GDP | 5 |
| 2000s | 8.87 Percentage of GDP | 8.23 Percentage of GDP | 9.99 Percentage of GDP | 10 |
| 2010s | 8.95 Percentage of GDP | 8.44 Percentage of GDP | 9.85 Percentage of GDP | 10 |
| 2020s | 10.28 Percentage of GDP | 9.89 Percentage of GDP | 10.97 Percentage of GDP | 5 |
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 financing of social security benefits in oecd member countries — tax in Latvia?
- Financing of social security benefits in oecd member countries — tax in Latvia was 10.97 Percentage of GDP in 2024, according to Organisation for Economic Co-operation and Development.
- What is the highest financing of social security benefits in oecd member countries — tax recorded in Latvia?
- The highest recorded value was 11.32 Percentage of GDP in 1995.
- What is the lowest financing of social security benefits in oecd member countries — tax recorded in Latvia?
- The lowest recorded value was 8.23 Percentage of GDP in 2005.
- How does Latvia rank for financing of social security benefits in oecd member countries — tax?
- Latvia ranks 15th out of 33 countries with data for 2024.
- Is financing of social security benefits in oecd member countries — tax rising or falling in Latvia?
- Over the last ten years it is up 26.2%. The long-run trend across the full record is flat.
- Where does this Latvia data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Financing of social security benefits in OECD member countries — Tax revenue. Statizoid updates them automatically from the source API.
Download this data
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About this data
Compulsory payments conferring entitlement to future social benefits These are usually earmarked to finance social benefits and paid to institutions of general government.