Net trade in goods and services in Latvia
Latvia: Net trade in goods and services was -2.24 billion BoP, current US$ in 2025. ◆ Volatile
Net trade in goods and services in Latvia, 1992–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
Latvia recorded -2.24 billion BoP, current US$ for net trade in goods and services in 2025.
That represents a change of down 220.6% on the previous year and down 611.6% over ten years.
Over the whole period, net trade in goods and services in Latvia peaked at 487.13 million BoP, current US$ in 2020 and was at its lowest, -5.71 billion BoP, current US$, in 2007.
Latvia ranks 145th of 200 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Net trade in goods and services in Latvia, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 1992 | 93.81 million BoP, current US$ | — |
| 1993 | 331.69 million BoP, current US$ | +253.6% |
| 1994 | 59.85 million BoP, current US$ | -82.0% |
| 1995 | -105.55 million BoP, current US$ | -276.4% |
| 1996 | -414.45 million BoP, current US$ | +292.7% |
| 1997 | -477.33 million BoP, current US$ | +15.2% |
| 1998 | -827.40 million BoP, current US$ | +73.3% |
| 1999 | -691.30 million BoP, current US$ | -16.4% |
| 2000 | -435.67 million BoP, current US$ | -37.0% |
| 2001 | -641.75 million BoP, current US$ | +47.3% |
| 2002 | -769.68 million BoP, current US$ | +19.9% |
| 2003 | -1.30 billion BoP, current US$ | +69.5% |
| 2004 | -2.12 billion BoP, current US$ | +62.3% |
| 2005 | -2.44 billion BoP, current US$ | +15.2% |
| 2006 | -4.45 billion BoP, current US$ | +82.5% |
| 2007 | -5.71 billion BoP, current US$ | +28.4% |
| 2008 | -4.27 billion BoP, current US$ | -25.3% |
| 2009 | -288.81 million BoP, current US$ | -93.2% |
| 2010 | -470.56 million BoP, current US$ | +62.9% |
| 2011 | -1.66 billion BoP, current US$ | +252.8% |
| 2012 | -1.56 billion BoP, current US$ | -6.1% |
| 2013 | -1.37 billion BoP, current US$ | -12.4% |
| 2014 | -881.93 million BoP, current US$ | -35.4% |
| 2015 | -315.23 million BoP, current US$ | -64.3% |
| 2016 | 142.29 million BoP, current US$ | -145.1% |
| 2017 | -127.61 million BoP, current US$ | -189.7% |
| 2018 | -156.12 million BoP, current US$ | +22.3% |
| 2019 | -70.97 million BoP, current US$ | -54.5% |
| 2020 | 487.13 million BoP, current US$ | -786.4% |
| 2021 | -1.22 billion BoP, current US$ | -350.2% |
| 2022 | -1.84 billion BoP, current US$ | +51.1% |
| 2023 | -1.58 billion BoP, current US$ | -14.1% |
| 2024 | -699.67 million BoP, current US$ | -55.7% |
| 2025 | -2.24 billion BoP, current US$ | +220.6% |
Latvia compared with similar countries
- Latvia's -2.24 billion BoP, current US$ is below the median for high income countries, which is 2.86 billion BoP, current US$. (72 countries reporting)
- Latvia's -2.24 billion BoP, current US$ is below the median for Europe & Central Asia, which is 460.27 million BoP, current US$. (51 countries reporting)
Biggest year-on-year movements
Years where Net trade in goods and services in Latvia changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2020 | +786.4% | -70.97 million BoP, current US$ | 487.13 million BoP, current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | -253.83 million BoP, current US$ | -827.40 million BoP, current US$ | 331.69 million BoP, current US$ | 8 |
| 2000s | -2.24 billion BoP, current US$ | -5.71 billion BoP, current US$ | -288.81 million BoP, current US$ | 10 |
| 2010s | -646.59 million BoP, current US$ | -1.66 billion BoP, current US$ | 142.29 million BoP, current US$ | 10 |
| 2020s | -1.18 billion BoP, current US$ | -2.24 billion BoP, current US$ | 487.13 million BoP, current US$ | 6 |
Countries ranked near Latvia
- 142 Belarus -1.79 billion BoP, current US$ compare
- 143 Mauritius -2.06 billion BoP, current US$ compare
- 144 Georgia -2.20 billion BoP, current US$ compare
- 146 Rwanda -2.25 billion BoP, current US$ compare
- 147 Suriname -2.32 billion BoP, current US$ compare
- 148 Malawi -2.39 billion BoP, current US$ compare
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 net trade in goods and services in Latvia?
- Net trade in goods and services in Latvia was -2.24 billion BoP, current US$ in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net trade in goods and services recorded in Latvia?
- The highest recorded value was 487.13 million BoP, current US$ in 2020.
- What is the lowest net trade in goods and services recorded in Latvia?
- The lowest recorded value was -5.71 billion BoP, current US$ in 2007.
- How does Latvia rank for net trade in goods and services?
- Latvia ranks 145th out of 200 countries with data for 2025.
- Is net trade in goods and services rising or falling in Latvia?
- Over the last ten years it is down 611.6%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net trade in goods and services (BoP, current US$). 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 in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.