Gross public sector debt as a share of gross domestic product in Latvia
Latvia: Gross public sector debt as a share of gross domestic product was 54.2% in 2024. ▲ Rising
Gross public sector debt as a share of gross domestic product in Latvia, 2000–2024
Source: World Bank – processed by Our World in Data. Measured in %.
Analysis
Latvia recorded 54.2% for gross public sector debt as a share of gross domestic product in 2024. That is the highest value across all 25 years on record.
That represents a change of up 6.7% on the previous year and up 24.0% over ten years.
Over the whole period, gross public sector debt as a share of gross domestic product in Latvia peaked at 54.2% in 2024 and was at its lowest, 11.9%, in 2006.
Latvia ranks 26th of 49 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 25 years of available data.
Gross public sector debt as a share of gross domestic product in Latvia, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 12.2% | — |
| 2001 | 14.0% | +14.6% |
| 2002 | 13.4% | -4.4% |
| 2003 | 13.7% | +2.5% |
| 2004 | 14.5% | +6.1% |
| 2005 | 12.5% | -14.1% |
| 2006 | 11.9% | -4.8% |
| 2007 | 12.2% | +2.6% |
| 2008 | 23.4% | +91.7% |
| 2009 | 41.4% | +77.3% |
| 2010 | 50.0% | +20.6% |
| 2011 | 47.1% | -5.7% |
| 2012 | 43.4% | -7.8% |
| 2013 | 40.5% | -6.5% |
| 2014 | 43.7% | +7.8% |
| 2015 | 39.8% | -8.9% |
| 2016 | 43.8% | +10.0% |
| 2017 | 41.6% | -4.9% |
| 2018 | 40.4% | -2.9% |
| 2019 | 41.4% | +2.5% |
| 2020 | 47.9% | +15.6% |
| 2021 | 51.6% | +7.8% |
| 2022 | 50.7% | -1.6% |
| 2023 | 50.8% | +0.2% |
| 2024 | 54.2% | +6.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 16.9% | 11.9% | 41.4% | 10 |
| 2010s | 43.2% | 39.8% | 50.0% | 10 |
| 2020s | 51.0% | 47.9% | 54.2% | 5 |
Countries ranked near Latvia
More economy & growth data for Latvia
- Manufacturing, value added (constant LCU), per capita 1,898 constant LCU per person (2025)
- Industry (including construction), value added (current US$), annual 11.34 % change on previous year (2025)
- Industry (including construction), value added (current US$), per 0.1868 current US$ per US$ of GDP (2025)
- Industry (including construction), value added (current US$), per 4,916 current US$ per person (2025)
- Industry (including construction), value added (current LCU), annual 6.65 % change on previous year (2025)
- Industry (including construction), value added (current LCU), per 0.1654 current LCU per US$ of GDP (2025)
- Industry (including construction), value added (current LCU), per 4,351 current LCU per person (2025)
- Industry (including construction), value added (constant 2015 US$) 4.38 % change on previous year (2025)
- Industry (including construction), value added (constant 2015 US$) 0.1132 constant 2015 US$ per US$ of GDP (2025)
- Industry (including construction), value added (constant 2015 US$) 2,979 constant 2015 US$ per person (2025)
Frequently asked questions
- What is gross public sector debt as a share of gross domestic product in Latvia?
- Gross public sector debt as a share of gross domestic product in Latvia was 54.2% in 2024, according to World Bank – processed by Our World in Data.
- What is the highest gross public sector debt as a share of gross domestic product recorded in Latvia?
- The highest recorded value was 54.2% in 2024.
- What is the lowest gross public sector debt as a share of gross domestic product recorded in Latvia?
- The lowest recorded value was 11.9% in 2006.
- How does Latvia rank for gross public sector debt as a share of gross domestic product?
- Latvia ranks 26th out of 49 countries with data for 2024.
- Is gross public sector debt as a share of gross domestic product rising or falling in Latvia?
- Over the last ten years it is up 24.0%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from World Bank – processed by Our World in Data, published as part of Gross public sector debt as a share of gross domestic product. Statizoid updates them automatically from the source API.
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About this data
Gross public sector debt, Central Government, as a proportion of GDP (%).