Latvia: Trade openness

* indicates monthly or quarterly data series

Trade openness: exports plus imports as percent of GDP

 Latest value 148.50
 Year 2022
 Measure percent
 Data availability 1995 - 2022
 Average 105.29
 Min - Max 73.87 - 148.50
 Source The World Bank
For that indicator, we provide data for Latvia from 1995 to 2022. The average value for Latvia during that period was 105.29 percent with a minimum of 73.87 percent in 1995 and a maximum of 148.5 percent in 2022. The latest value from 2022 is 148.5 percent. For comparison, the world average in 2022 based on 157 countries is 100.30 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Latvia - Trade openness - Recent values chart

Historical chart
Latvia - Trade openness - historical chart - 1995-2022

Definition: Exports plus imports as percent of GDP.

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 Related indicators Latest value Reference Measure
 Terms of trade 104.67 2021 percent
 Trade openness 148.50 2022 percent
 Financial openness 2.299 2021 index points
 Exports, percent of GDP 71.99 2022 percent
 Exports, billion dollars 27.95 2023 billion U.S. dollars
 Growth of exports 10.31 2022 percent
 Imports, percent of GDP 76.52 2022 percent
 Imports, billion dollars 29.63 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 2.84 2022 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 -4.53 2022 percent
 Trade balance, in dollars -1.68 2023 billion U.S. dollars
 Reserves 4.46 2022 billion U.S. dollars
 Remittances, percent of GDP 3.26 2022 percent
 Remittances 1,333.46 2022 million U.S. dollars
 Net errors and omissions 970.24 2023 million USD
 Foreign exchange reserves 4.38 9/2023 billion
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