Latvia: Commercial service imports (current US$)

Key figures

What the numbers say

In 2025, Latvia's commercial service imports (current US$) rose 21.5% on 2024 (from US$5.97 billion to US$7.26 billion).

Across the 30 yearly changes before that (1995 to 2024), the average change was +16% and a typical year strayed about 41.1% from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 214.7% in 1996 and the biggest yearly fall was 27.6% in 2009. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 the straight-line trend is upward, about US$480.35 million a year. A straight line explains 91% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2025, Latvia had the 76th highest value of the 136 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.

Closest to Latvia in the 2025 ranking

• Costa Rica — 72nd of 136: US$8.6 billion
• Angola — 73rd of 136: US$8.16 billion
• Belarus — 74th of 136: US$7.71 billion
• Macao SAR, China — 76th of 136: US$7.02 billion
• Guatemala — 77th of 136: US$6.89 billion
• Ecuador — 78th of 136: US$6.27 billion

What this measures

Commercial service imports are total service imports minus imports of government services not included elsewhere. Imports of services are services provided by non-residents to residents. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

Limitations: Balance of payments statistics, the main source of information on international trade in services, have many weaknesses. Disaggregation of important components may be limited and varies considerably across countries. There are inconsistencies in the methods used to report items. And the recording of major flows as net items is common (for example, insurance transactions are often recorded as premiums less claims). These factors contribute to a downward bias in the value of the service trade reported in the balance of payments. Efforts are being made to improve the coverage, quality, and consistency of these data.

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 34 values

Commercial service imports (current US$) in nearby economies

• Albania — US$4.5 billion (2025)
• Armenia — US$4.25 billion (2025)
• Austria — US$98.05 billion (2025)
• Azerbaijan — US$10.13 billion (2025)
• Belarus — US$7.71 billion (2025)
• Belgium — US$170.83 billion (2025)
• Bosnia and Herzegovina — US$1.57 billion (2025)
• Bulgaria — US$9.42 billion (2025)
• Croatia — US$9.57 billion (2025)
• Cyprus — US$25.2 billion (2025)

More private sector & trade data for Latvia

• Merchandise imports (current US$) — US$26.28 billion (2025)
• Merchandise exports (current US$) — US$22.12 billion (2025)
• Commercial service exports (current US$) — US$9.31 billion (2025)
• Merchandise imports from low- and middle-income economies outside region (% of total merchandise imports) — 5.58% (2023)
• Merchandise imports from low- and middle-income economies in East Asia & Pacific (% of total merchandise imports) — 4.64% (2023)
• Merchandise imports by the reporting economy, residual (% of total merchandise imports) — 0.00497% (2023)
• Merchandise imports by the reporting economy (current US$) — US$27.34 billion (2023)
• Agricultural raw materials imports (% of merchandise imports)

Reading data like this

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Questions people ask

What is Latvia's commercial service imports (current US$)?

US$7.26 billion in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1992?

It is up 5,943% from US$120.13 million in 1992 (13.23% a year on average, compounded). The highest value was US$7.26 billion in 2025 and the lowest US$120.13 million in 1992.

How does Latvia rank?

76th highest of 136 economies with data for 2025.

Is the latest change in commercial service imports (current US$) unusual for Latvia?

In 2025, Latvia's commercial service imports (current US$) rose 21.5% on 2024 (from US$5.97 billion to US$7.26 billion). Across the 30 yearly changes before that (1995 to 2024), the average change was +16% and a typical year strayed about 41.1% from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator TM.VAL.SERV.CD.WT, licensed CC BY 4.0. Original source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF) 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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