Latvia: Gross domestic savings (% of GDP)

Key figures

What the numbers say

In 2025, Latvia's gross domestic savings (% of GDP) fell 0.4 percentage points on 2024 (from 19.88% to 19.48%).

Across the 29 yearly changes before that (1996 to 2024), the average change was +0.3 percentage points and a typical year strayed about 1.82 percentage points from that (the standard deviation). This year's change was 0.4 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 4.31 percentage points in 2000 and the biggest yearly fall was 2.77 percentage points in 2022. 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 downward, about 0.39 percentage points a year. A straight line explains 57% 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 78th highest value of the 132 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

• Slovak Republic — 75th of 132: 19.93%
• Niger — 76th of 132: 19.59%
• Croatia — 77th of 132: 19.54%
• Serbia — 79th of 132: 19.08%
• Armenia — 80th of 132: 18.7%
• United Kingdom — 81st of 132: 18.34%

What this measures

Gross domestic savings are calculated as GDP less final consumption expenditure (total consumption). 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 31 values

Gross domestic savings (% of GDP) in nearby economies

• Albania — 17.96% (2025)
• Armenia — 18.7% (2025)
• Austria — 26.25% (2025)
• Azerbaijan — 25.1% (2025)
• Belarus — 25.52% (2025)
• Belgium — 23.73% (2025)
• Bosnia and Herzegovina — 10.33% (2025)
• Bulgaria — 20.68% (2025)
• Croatia — 19.54% (2025)
• Cyprus — 24.91% (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

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Questions people ask

What is Latvia's gross domestic savings (% of GDP)?

19.48% in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1995?

It is up 8.29 percentage points from 11.19% in 1995. The highest value was 23.68% in 2008 and the lowest 10.26% in 1996.

How does Latvia rank?

78th highest of 132 economies with data for 2025.

Is the latest change in gross domestic savings (% of GDP) unusual for Latvia?

In 2025, Latvia's gross domestic savings (% of GDP) fell 0.4 percentage points on 2024 (from 19.88% to 19.48%). Across the 29 yearly changes before that (1996 to 2024), the average change was +0.3 percentage points and a typical year strayed about 1.82 percentage points from that (the standard deviation). This year's change was 0.4 standard deviations below 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 NY.GDS.TOTL.ZS, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) 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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