Latvia's net primary income (net income from abroad) (current US$) was −US$905.76 million in 2024, the latest year in the World Bank's World Development Indicators. That is down 2,593% from US$36.33 million in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | −US$905.76 million | 2024 |
| Five years earlier | −US$467.44 million | 2019 |
| Ten years earlier | US$36.33 million | 2014 |
| Highest | US$1.84 billion | 2009 |
| Lowest | −US$988.18 million | 2023 |
| Average since 2015 | −US$453.41 million | 2015–2024 |
| First recorded | US$42.16 million |
What the numbers say
In 2024, Latvia's net primary income (net income from abroad) (current US$) rose US$82.42 million on 2023 (from −US$988.18 million to −US$905.76 million).
Across the 28 yearly changes before that (1996 to 2023), the average change was −US$36.8 million and a typical year strayed about US$597.56 million from that (the standard deviation). This year's change was 0.2 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 US$2.29 billion in 2009 and the biggest yearly fall was US$1.6 billion in 2010. 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 US$100.13 million a year. A straight line explains 67% 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 25th highest value of the 39 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
- Bahamas, The — 22nd of 39: −US$631.7 million
- Slovenia — 23rd of 39: −US$774.68 million
- Estonia — 24th of 39: −US$867.74 million
- Austria — 26th of 39: −US$1.03 billion
- Cayman Islands — 27th of 39: −US$1.49 billion
- Lithuania — 28th of 39: −US$2.1 billion
What this measures
Net primary income includes the net labor income and net property and entrepreneurial income components of the SNA. Labor income covers compensation of employees paid to nonresident workers. Property and entrepreneurial income covers investment income from the ownership of foreign financial claims (interest, dividends, rent, etc.) and nonfinancial property income (patents, copyrights, etc.). This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
All 30 values
| Year | Net primary income (net income from abroad) (current US$) |
|---|---|
| 2024 | -905,758,706 |
| 2023 | -988,178,968 |
| 2022 | -666,969,416 |
| 2021 | -714,873,081 |
| 2020 | 14,645,239 |
| 2019 | -467,444,418 |
| 2018 | -548,847,427 |
| 2017 | -83,700,338 |
| 2016 | -38,069,719 |
| 2015 | -134,912,329 |
Net primary income (net income from abroad) (current US$) in nearby economies
- Albania — −US$58.23 million (2025)
- Armenia — −US$870.74 million (2025)
- Austria — −US$1.03 billion (2024)
- Azerbaijan — −US$1.99 billion (2025)
- Belarus — −US$1.1 billion (2025)
- Belgium — US$10.96 billion (2024)
- Bosnia and Herzegovina — US$186,950 (2025)
- Bulgaria — −US$6.7 billion (2025)
- Croatia — −US$1.11 billion (2025)
More economic policy & debt data for Latvia
- Adjusted savings, education expenditure (% of GNI) — 3.81% (2021)
- Adjusted savings, mineral depletion (current US$) — 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 $) — 71.7 billion (2025)
- GDP per capita (current LCU) — 23,285 (2025)
Reading data like this
Questions people ask
- What is Latvia's net primary income (net income from abroad) (current US$)?
- −US$905.76 million in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1995?
- It is down 2,248% from US$42.16 million in 1995. The highest value was US$1.84 billion in 2009 and the lowest −US$988.18 million in 2023.
- How does Latvia rank?
- 25th highest of 39 economies with data for 2024.
- Is the latest change in net primary income (net income from abroad) (current US$) unusual for Latvia?
- In 2024, Latvia's net primary income (net income from abroad) (current US$) rose US$82.42 million on 2023 (from −US$988.18 million to −US$905.76 million). Across the 28 yearly changes before that (1996 to 2023), the average change was −US$36.8 million and a typical year strayed about US$597.56 million from that (the standard deviation). This year's change was 0.2 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 NY.GSR.NFCY.CD, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; 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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