Latvia's net domestic credit (current LCU) was 16.04 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 25.98% from 12.73 billion in 2014 (2.34% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 16.04 billion | 2024 |
| Five years earlier | 13.18 billion | 2019 |
| Ten years earlier | 12.73 billion | 2014 |
| Highest | 16.87 billion | 2023 |
| Lowest | 12.73 billion | 2014 |
| Average since 2015 | 14.69 billion | 2015–2024 |
| First recorded | 16.32 billion |
What the numbers say
In 2024, Latvia's net domestic credit (current LCU) fell 4.9% on 2023 (from 16.87 billion to 16.04 billion).
Across the 13 yearly changes before that (2011 to 2023), the average change was +0.5% and a typical year strayed about 7.8% from that (the standard deviation). This year's change was 0.7 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 12.8% in 2021 and the biggest yearly fall was 13.1% in 2012. 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 the straight-line trend is upward, about 313.58 million a year. A straight line explains 45% 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 2024, Latvia had the 35th 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.
Closest to Latvia in the 2024 ranking
What this measures
Net domestic credit is the sum of net claims on the central government and claims on other sectors of the domestic economy. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
All 15 values
| Year | Net domestic credit (current LCU) |
|---|---|
| 2024 | 16,040,000,000 |
| 2023 | 16,865,000,000 |
| 2022 | 16,685,000,000 |
| 2021 | 14,927,000,000 |
| 2020 | 13,231,000,000 |
| 2019 | 13,176,000,000 |
| 2018 | 13,131,000,000 |
| 2017 | 14,403,000,000 |
| 2016 | 14,333,000,000 |
| 2015 | 14,133,000,000 |
Net domestic credit (current LCU) in nearby economies
- Albania — 1.46 trillion (2025)
- Armenia — 9.58 trillion (2025)
- Austria — 587.58 billion (2024)
- Azerbaijan — 36.87 billion (2025)
- Belarus — 60.23 billion (2021)
- Belgium — 762.57 billion (2024)
- Bosnia and Herzegovina — 29.62 billion (2025)
- Bulgaria — 58.79 billion (2024)
- Croatia — 49.55 billion (2024)
- Cyprus — 24.91 billion (2024)
- Czechia
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 net domestic credit (current LCU)?
- 16.04 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2010?
- It is down 1.7% from 16.32 billion in 2010 (0.12% a year on average, compounded). The highest value was 16.87 billion in 2023 and the lowest 12.73 billion in 2014.
- How does Latvia rank?
- 35th highest of 40 economies with data for 2024.
- Is the latest change in net domestic credit (current LCU) unusual for Latvia?
- In 2024, Latvia's net domestic credit (current LCU) fell 4.9% on 2023 (from 16.87 billion to 16.04 billion). Across the 13 yearly changes before that (2011 to 2023), the average change was +0.5% and a typical year strayed about 7.8% from that (the standard deviation). This year's change was 0.7 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 FM.AST.DOMS.CN, licensed CC BY 4.0. Original source: International Financial Statistics database, 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.
Legal entity
Devansh Yadav
Moradabad, Uttar Pradesh
Governing law: Courts at Moradabad, Uttar Pradesh
Phone: +91 8433475698
Legal: legal@analyzeit.in