Latvia: Imports of goods and services (% of GDP)
In , Latvia's Imports of goods and services (% of GDP) was 66.93.
That's down 3.9% from 2023, the highest value since .
The global average for this indicator in 2024 was 47.94 . Latvia ranks #35 globally out of 160 reporting countries. Within Europe & Central Asia, it ranks #15 of 49.
Source: World Bank Open Data (NE.IMP.GNFS.ZS) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- 82.39
- Trough
- 45.44
- 1-year change
- -3.9%
- 5-year change
- +6.7%
- +1.3% / yr
- 10-year change
- +0.7%
- +0.1% / yr
Historical Data — Last 10 Years
| Year | Imports of goods and services (% of GDP) |
|---|---|
| 66.9284 | |
| 69.6533 | |
| 82.3913 | |
| 69.9853 | |
| 61.2240 | |
| 62.7548 | |
| 64.3643 | |
| 64.5740 | |
| 61.4021 | |
| 63.7845 |
About Imports of goods and services (% of GDP)
Imports of goods includes change in the economic ownership of goods from non-residents to residents of the compiling economy, irrespective of physical movement of goods across national borders. Imports of services includes 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.
Indicator code: NE.IMP.GNFS.ZS • Category: Economy
Frequently asked questions
- What was Latvia's Imports of goods and services (% of GDP) in 2024?
- In 2024, Latvia's Imports of goods and services (% of GDP) was 66.93, according to World Bank Open Data.
- Is Latvia's Imports of goods and services (% of GDP) rising or falling?
- Latvia's Imports of goods and services (% of GDP) fell 3.9% from 2023 to 2024.
- How does Latvia rank globally on Imports of goods and services (% of GDP)?
- In 2024, Latvia ranked #35 out of 160 countries reporting Imports of goods and services (% of GDP).
- How does Latvia's Imports of goods and services (% of GDP) compare to the world average?
- The global average for Imports of goods and services (% of GDP) in 2024 was 47.94, so Latvia is above the world average. Within Europe & Central Asia, it ranks #15 of 49.
- What is Imports of goods and services (% of GDP) and how is it measured?
- Imports of goods includes change in the economic ownership of goods from non-residents to residents of the compiling economy, irrespective of physical movement of goods across national borders. Imports of services includes 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.
Source: World Bank Open Data (NE.IMP.GNFS.ZS), CC BY 4.0.