Latvia's goods exports (current US$, BoP) was US$20.59 billion in 2025, the latest year in the World Bank's World Development Indicators. That is up 77.76% from US$11.58 billion in 2015 (5.92% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$20.59 billion | 2025 |
| Five years earlier | US$14.78 billion | 2020 |
| Ten years earlier | US$11.58 billion | 2015 |
| Highest | US$21.08 billion | 2022 |
| Lowest | US$799.87 million | 1992 |
| Average since 2016 | US$16.6 billion | 2016–2025 |
| First recorded | US$799.87 million |
What the numbers say
In 2025, Latvia's goods exports (current US$, BoP) rose 7.5% on 2024 (from US$19.15 billion to US$20.59 billion).
Across the 30 yearly changes before that (1995 to 2024), the average change was +11.7% and a typical year strayed about 18% from that (the standard deviation). This year's change was 0.2 standard deviations below 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 52.5% in 2004 and the biggest yearly fall was 22.7% 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$1.06 billion a year. A straight line explains 85% 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.
A straight-line projection, tested first
Extending that straight line gives about US$23.41 billion for 2028. We show this only because the same method, fitted on earlier years, predicted 2023 to 2025 better than "no change" would have: its average miss was US$589.9 million, against US$1.41 billion for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.
See how a linear trend forecast works and the guide on forecasting without fooling yourself.
How it compares
In 2025, Latvia had the 78th 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.
| Value | Year | |
|---|---|---|
| Latvia | US$20.59 billion | 2025 |
| World | US$25.48 trillion | 2025 |
| Europe & Central Asia | US$9.28 trillion | 2025 |
| High income | US$16.77 trillion | 2025 |
Closest to Latvia in the 2025 ranking
- Costa Rica — 75th of 136: US$23.53 billion
- Uzbekistan — 76th of 136: US$23.02 billion
- Estonia — 77th of 136: US$21.22 billion
- Panama — 79th of 136: US$18.61 billion
- Uruguay — 80th of 136: US$16.11 billion
- Paraguay — 81st of 136: US$15.75 billion
What this measures
Exports of goods occur when there are changes in the economic ownership of goods from residents of the compiling economy to non-residents, irrespective of physical movement of goods across national borders. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
Regional and income-group figures are computed by the World Bank as a gap-filled total.
All 34 values
| Year | Goods exports (current US$, BoP) |
|---|---|
| 2025 | 20,590,632,995 |
| 2024 | 19,151,890,638 |
| 2023 | 19,282,840,864 |
| 2022 | 21,082,055,353 |
| 2021 | 18,459,689,282 |
| 2020 | 14,777,483,651 |
| 2019 | 13,678,692,994 |
| 2018 | 14,191,613,445 |
| 2017 | 13,127,296,566 |
| 2016 | 11,610,754,098 |
Goods exports (current US$, BoP) in nearby economies
- Albania — US$1.76 billion (2025)
- Armenia — US$8.44 billion (2025)
- Austria — US$213.92 billion (2025)
- Azerbaijan — US$24.07 billion (2025)
- Belarus — US$40.45 billion (2025)
- Belgium — US$389.06 billion (2025)
- Bosnia and Herzegovina — US$9.41 billion (2025)
- Bulgaria — US$47.94 billion (2025)
- Croatia — US$24.51 billion (2025)
- Cyprus — US$4.62 billion (2025)
- Czechia
More economic policy & debt data for Latvia
- Adjusted savings, education expenditure (% of GNI) — 3.81% (2021)
- Adjusted savings, mineral depletion (current US$) — US$0 (2021)
- Net financial flows, IBRD (NFL, current US$) — −US$88.67 million (2016)
- GDP (current LCU) — 43.03 billion (2025)
- GDP, linked series (current LCU) — 43.03 billion (2025)
- GDP (constant 2015 US$) — US$31.21 billion (2025)
- GDP (constant LCU) — 32.21 billion (2025)
- GDP, PPP (current international $) — 85.25 billion (2025)
- GDP, PPP (constant 2021 international $) — 71.7 billion (2025)
- GDP per capita (current LCU) — 23,285 (2025)
Reading data like this
Questions people ask
- What is Latvia's goods exports (current US$, BoP)?
- US$20.59 billion in 2025, according to the World Bank (World Development Indicators).
- How has it changed since 1992?
- It is up 2,474% from US$799.87 million in 1992 (10.34% a year on average, compounded). The highest value was US$21.08 billion in 2022 and the lowest US$799.87 million in 1992.
- How does Latvia rank?
Source
World Bank, World Development Indicators, indicator BX.GSR.MRCH.CD, 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.
Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.
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