Trade in services (% of GDP) in Latvia
Latvia: Trade in services (% of GDP) was 34.2% in 2025. ▲ Rising
Trade in services in Latvia, 1995–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
In 2025, trade in services in Latvia stood at 34.2%. That is the highest value across all 31 years on record.
The figure is up 4.5% on the previous year and up 19.9% over ten years.
Over the whole period, trade in services in Latvia peaked at 34.2% in 2025 and was at its lowest, 17.2%, in 1995.
That places Latvia 59th out of 200 countries with data for 2025, putting it in the middle of the range.
The long-run direction has been consistently rising across the 31 years of available data.
Trade in services (% of GDP) in Latvia, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1995 | 17.2% | — |
| 1996 | 33.3% | +93.3% |
| 1997 | 28.5% | -14.5% |
| 1998 | 29.2% | +2.5% |
| 1999 | 25.7% | -11.8% |
| 2000 | 20.6% | -20.1% |
| 2001 | 20.2% | -2.0% |
| 2002 | 19.5% | -3.1% |
| 2003 | 23.2% | +18.6% |
| 2004 | 23.1% | -0.1% |
| 2005 | 25.0% | +7.8% |
| 2006 | 24.9% | -0.4% |
| 2007 | 24.4% | -1.7% |
| 2008 | 25.5% | +4.2% |
| 2009 | 26.4% | +3.9% |
| 2010 | 27.1% | +2.4% |
| 2011 | 28.6% | +5.5% |
| 2012 | 27.9% | -2.4% |
| 2013 | 27.4% | -1.9% |
| 2014 | 27.6% | +0.8% |
| 2015 | 28.6% | +3.5% |
| 2016 | 29.2% | +2.2% |
| 2017 | 30.0% | +2.6% |
| 2018 | 29.9% | -0.3% |
| 2019 | 30.0% | +0.5% |
| 2020 | 26.6% | -11.2% |
| 2021 | 27.9% | +4.6% |
| 2022 | 33.9% | +21.7% |
| 2023 | 32.8% | -3.3% |
| 2024 | 32.8% | -0.1% |
| 2025 | 34.2% | +4.5% |
Latvia compared with similar countries
- Latvia's 34.2% is above the median for high income countries, which is 32.3%, 1.1× the median. (72 countries reporting)
- Latvia's 34.2% is above the median for Europe & Central Asia, which is 31.1%, 1.1× the median. (51 countries reporting)
Biggest year-on-year movements
Years where Trade in services (% of GDP) 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 |
|---|---|---|---|
| 1996 | +93.3% | 17.2% | 33.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 26.8% | 17.2% | 33.3% | 5 |
| 2000s | 23.3% | 19.5% | 26.4% | 10 |
| 2010s | 28.6% | 27.1% | 30.0% | 10 |
| 2020s | 31.4% | 26.6% | 34.2% | 6 |
Countries ranked near Latvia
More economy & growth data for Latvia
- SDRs holdings, US dollar, annual growth rate 5.34 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0125 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 327.81 units per person (2025)
- SDRs holdings, SDR, annual growth rate 0.3105 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0091 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 239.37 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -2.79 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0077 units per US$ of GDP (2025)
- IMF holdings of currency, US dollar, per capita 203.25 units per person (2025)
- IMF holdings of currency, SDR, annual growth rate -7.43 % change on previous year (2025)
Frequently asked questions
- What is trade in services in Latvia?
- Trade in services in Latvia was 34.2% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest trade in services recorded in Latvia?
- The highest recorded value was 34.2% in 2025.
- What is the lowest trade in services recorded in Latvia?
- The lowest recorded value was 17.2% in 1995.
- How does Latvia rank for trade in services?
- Latvia ranks 59th out of 200 countries with data for 2025.
- Is trade in services rising or falling in Latvia?
- Over the last ten years it is up 19.9%. The long-run trend across the full record is rising.
- 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 Trade in services (% of GDP). 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
Total trade in services includes services provided by residents to non-residents plus services provided by non-residents to residents. 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.