Latvia's claims on central government, etc. (% of GDP) was 3.53% in 2024, the latest year in the World Bank's World Development Indicators. That is up 6 percentage points from -2.47% in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 3.53% | 2024 |
| Five years earlier | 3.1% | 2019 |
| Ten years earlier | -2.47% | 2014 |
| Highest | 7.28% | 2022 |
| Lowest | -10.36% | 2010 |
| Average since 2015 | 4.61% | 2015–2024 |
| First recorded | -10.36% | 2010 |
What the numbers say
In 2024, Latvia's claims on central government, etc. (% of GDP) fell 3.19 percentage points on 2023 (from 6.72% to 3.53%).
Across the 13 yearly changes before that (2011 to 2023), the average change was +1.31 percentage points and a typical year strayed about 2.68 percentage points from that (the standard deviation). This year's change was 1.7 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 6.54 percentage points in 2015 and the biggest yearly fall was 3.19 percentage points in 2024. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains 25% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Latvia had the 27th highest value of the 40 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| Latvia | 3.53% | 2024 |
| World | 39.8% | 2024 |
| Europe & Central Asia | 20.29% | 2023 |
| High income | 43.12% | 2024 |
Closest to Latvia in the 2024 ranking
- Comoros — 24th of 40: 4.16%
- Lithuania — 25th of 40: 3.94%
- Bulgaria — 26th of 40: 3.89%
- Korea, Rep. — 28th of 40: 3.37%
- Montenegro — 29th of 40: 0.64%
- Peru — 30th of 40: -0.63%
What this measures
Claims on central government include loans to central government institutions net of deposits. 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.
Regional and income-group figures are computed by the World Bank as a weighted average.
All 15 values
| Year | Claims on central government, etc. (% of GDP) |
|---|---|
| 2024 | 3.53 |
| 2023 | 6.72 |
| 2022 | 7.28 |
| 2021 | 5.73 |
| 2020 | 5.15 |
| 2019 | 3.1 |
| 2018 | 2.58 |
| 2017 | 4.85 |
| 2016 | 3.14 |
| 2015 | 4.07 |
| 2014 |
Claims on central government, etc. (% of GDP) in nearby economies
- Albania — 21.66% (2025)
- Armenia — 12.29% (2025)
- Austria — 17.69% (2024)
- Azerbaijan — -3.85% (2025)
- Belarus — -5.76% (2021)
- Belgium — 21.15% (2024)
- Bosnia and Herzegovina — 4.09% (2025)
- Bulgaria — 3.89% (2024)
- Croatia — 8.7% (2024)
- Cyprus — 11.58% (2024)
More financial sector data for Latvia
- GDP deflator (base year varies by country) — 133.57 (2025)
- GDP deflator, linked series (base year varies by country) — 133.57 (2025)
- Consumer price index (2010 = 100) — 162.39 (2025)
- Inflation, GDP deflator (annual % growth) — 3.62% (2025)
- Inflation, GDP deflator, linked series (annual % growth) — 3.62% (2025)
- Inflation, consumer prices (annual % growth) — 3.75% (2025)
- Official exchange rate (LCU per US$, period average) — US$0.88 (2025)
- Real effective exchange rate index (2010 = 100) — 116.85 (2025)
- DEC alternative conversion factor (LCU per US$) — US$0.88 (2025)
Reading data like this
Questions people ask
- What is Latvia's claims on central government, etc. (% of GDP)?
- 3.53% in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2010?
- It is up 13.89 percentage points from -10.36% in 2010. The highest value was 7.28% in 2022 and the lowest -10.36% in 2010.
- How does Latvia rank?
- 27th highest of 40 economies with data for 2024.
- Is the latest change in claims on central government, etc. (% of GDP) unusual for Latvia?
- In 2024, Latvia's claims on central government, etc. (% of GDP) fell 3.19 percentage points on 2023 (from 6.72% to 3.53%). Across the 13 yearly changes before that (2011 to 2023), the average change was +1.31 percentage points and a typical year strayed about 2.68 percentage points from that (the standard deviation). This year's change was 1.7 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator FS.AST.CGOV.GD.ZS, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF); World Development Indicators Database, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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