Latvia: Net lending (+) / net borrowing (-) (current LCU)

Key figures

What the numbers say

In 2024, Latvia's net lending (+) / net borrowing (-) (current LCU) fell 4.94 million on 2023 (from -793.11 million to -798.05 million).

Across the 29 yearly changes before that (1995 to 2023), the average change was −26.04 million and a typical year strayed about 442.19 million from that (the standard deviation). This year's change was 0.0 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 985.53 million in 2023 and the biggest yearly fall was 1.09 billion in 2021. 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 downward, about 150.02 million a year. A straight line explains 35% 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 30th highest value of the 90 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

• Slovenia — 27th of 90: -397.61 million
• Estonia — 28th of 90: -527.8 million
• El Salvador — 29th of 90: -718.1 million
• Bosnia and Herzegovina — 31st of 90: -804.04 million
• Malta — 32nd of 90: -808.4 million
• Lithuania — 33rd of 90: -995.9 million

What this measures

Net lending (+) / net borrowing (–) equals government revenue minus expense, minus net investment in nonfinancial assets. It is also equal to the net result of transactions in financial assets and liabilities. Net lending/net borrowing is a summary measure indicating the extent to which government is either putting financial resources at the disposal of other sectors in the economy or abroad, or utilizing the financial resources generated by other sectors in the economy or from abroad. 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.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 31 values

Net lending (+) / net borrowing (-) (current LCU) in nearby economies

• Albania — -26.12 billion (2024)
• Armenia — -369.71 billion (2024)
• Austria — -17.68 billion (2024)
• Azerbaijan — 4.96 billion (2024)
• Belarus — 3.24 billion (2024)
• Belgium — -16.5 billion (2024)
• Bosnia and Herzegovina — -804.04 million (2024)
• Bulgaria — -2.76 billion (2024)
• Croatia — -1.14 billion (2023)
• Cyprus — 1.45 billion (2024)

More public sector data for Latvia

• Arms imports (SIPRI trend indicator values) — 19 million (2024)
• Military expenditure (current USD) — 1.73 billion (2025)
• Military expenditure (current LCU) — 1.54 billion (2025)
• Military expenditure (% of GDP) — 3.61% (2025)
• Net investment in nonfinancial assets (current LCU) — 2.07 billion (2024)
• Net investment in nonfinancial assets (% of GDP) — 5.08% (2024)
• Net lending (+) / net borrowing (-) (% of GDP) — -1.96% (2024)
• Grants and other revenue (current LCU) — 2.77 billion (2024)
• Grants and other revenue (% of revenue) — 19.01% (2024)
• Social contributions (current LCU)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Latvia's net lending (+) / net borrowing (-) (current LCU)?

-798.05 million in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1994?

It is down 2,006% from -37.89 million in 1994. The highest value was 40.61 million in 1997 and the lowest -2.24 billion in 2021.

How does Latvia rank?

30th highest of 90 economies with data for 2024.

Is the latest change in net lending (+) / net borrowing (-) (current LCU) unusual for Latvia?

In 2024, Latvia's net lending (+) / net borrowing (-) (current LCU) fell 4.94 million on 2023 (from -793.11 million to -798.05 million). Across the 29 yearly changes before that (1995 to 2023), the average change was −26.04 million and a typical year strayed about 442.19 million from that (the standard deviation). This year's change was 0.0 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 GC.NLD.TOTL.CN, licensed CC BY 4.0. Original source: Government Finance 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.