Latvia: Trade (% of GDP)
In , Latvia's Trade (% of GDP) was 132.26.
That's down 2.5% from 2023, the highest value since .
The global average for this indicator in 2024 was 92.19 . Latvia ranks #31 globally out of 160 reporting countries. Within Europe & Central Asia, it ranks #14 of 49.
Source: World Bank Open Data (NE.TRD.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
- 159.89
- Trough
- 88.83
- 1-year change
- -2.5%
- 5-year change
- +5.6%
- +1.1% / yr
- 10-year change
- +1.7%
- +0.2% / yr
Historical Data — Last 10 Years
| Year | Trade (% of GDP) |
|---|---|
| 132.2625 | |
| 135.6430 | |
| 159.8928 | |
| 136.7966 | |
| 123.8832 | |
| 125.2916 | |
| 128.2341 | |
| 128.7140 | |
| 123.3305 | |
| 126.3800 |
About Trade (% of GDP)
Trade is the sum of exports and imports of goods and services. 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.TRD.GNFS.ZS • Category: Economy
Frequently asked questions
- What was Latvia's Trade (% of GDP) in 2024?
- In 2024, Latvia's Trade (% of GDP) was 132.26, according to World Bank Open Data.
- Is Latvia's Trade (% of GDP) rising or falling?
- Latvia's Trade (% of GDP) fell 2.5% from 2023 to 2024.
- How does Latvia rank globally on Trade (% of GDP)?
- In 2024, Latvia ranked #31 out of 160 countries reporting Trade (% of GDP).
- How does Latvia's Trade (% of GDP) compare to the world average?
- The global average for Trade (% of GDP) in 2024 was 92.19, so Latvia is above the world average. Within Europe & Central Asia, it ranks #14 of 49.
- What is Trade (% of GDP) and how is it measured?
- Trade is the sum of exports and imports of goods and services. 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.TRD.GNFS.ZS), CC BY 4.0.