Latvia: Trade openness
* indicates monthly or quarterly data series
| Latvia |
Trade openness: exports plus imports as percent of GDP |
|---|---|
| Latest value | 131.97 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1995 - 2023 |
| Average | 106.28 |
| Min - Max | 73.87 - 150.37 |
| Source | The World Bank |
The latest value from 2023 is 131.97 percent, a decline from 150.37 percent in 2022. In comparison, the world average is 94.79 percent, based on data from 138 countries. Historically, the average for Latvia from 1995 to 2023 is 106.28 percent. The minimum value, 73.87 percent, was reached in 1995 while the maximum of 150.37 percent was recorded in 2022.
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* indicates monthly or quarterly data series
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Definition: Exports plus imports as percent of GDP.
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
All articles
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 104.67 | 2021 | percent |
| Trade openness | 131.97 | 2023 | percent |
| Financial openness | 2.299 | 2021 | index points |
| Exports, percent of GDP | 64.06 | 2023 | percent |
| Exports, billion dollars | 27.95 | 2023 | billion U.S. dollars |
| Growth of exports | -5.94 | 2023 | percent |
| Imports, percent of GDP | 67.91 | 2023 | percent |
| Imports, billion dollars | 29.63 | 2023 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 3.45 | 2023 | percent |
| Foreign Direct Investment, billion dollars | 1.16 | 2022 | billion U.S. dollars |
| Portfolio investment inflows, equities | -11.96 | 2023 | million dollars (current) |
| Current account, percent of GDP | -4.00 | 2023 | percent |
| Current account, in dollars | -1.75 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | -3.85 | 2023 | percent |
| Trade balance, in dollars | -1.68 | 2023 | billion U.S. dollars |
| Reserves | 4.96 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 2.82 | 2023 | percent |
| Remittances | 1,228.25 | 2023 | million U.S. dollars |
| Net errors and omissions | 970.24 | 2023 | million USD |
| Foreign exchange reserves | 4.83 | 9/2024 | billion |