Merchandise imports by the reporting economy in Latvia
Latvia: Merchandise imports by the reporting economy was 27.34 billion current US$ in 2023. ◆ Volatile
Merchandise imports by the reporting economy in Latvia, 1989–2023
Source: Staff estimates, World Bank (WB). Measured in current US$.
Analysis
The most recent figure for merchandise imports by the reporting economy in Latvia is 27.34 billion current US$, measured in 2023.
That represents a change of down 7.2% on the previous year and up 53.0% over ten years.
Over the whole period, merchandise imports by the reporting economy in Latvia peaked at 29.47 billion current US$ in 2022 and was at its lowest, 3,000 current US$, in 1989.
Latvia ranks 72nd of 206 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Merchandise imports by the reporting economy in Latvia, year by year
| Year | current US$ | Change |
|---|---|---|
| 1989 | 3,000 current US$ | — |
| 1992 | 796.06 million current US$ | +26535100.0% |
| 1993 | 883.43 million current US$ | +11.0% |
| 1994 | 1.25 billion current US$ | +41.1% |
| 1995 | 1.79 billion current US$ | +43.2% |
| 1996 | 2.27 billion current US$ | +27.1% |
| 1997 | 2.72 billion current US$ | +19.7% |
| 1998 | 3.19 billion current US$ | +17.4% |
| 1999 | 2.95 billion current US$ | -7.7% |
| 2000 | 3.17 billion current US$ | +7.6% |
| 2001 | 3.47 billion current US$ | +9.5% |
| 2002 | 4.02 billion current US$ | +16.0% |
| 2003 | 5.22 billion current US$ | +29.8% |
| 2004 | 6.91 billion current US$ | +32.3% |
| 2005 | 8.66 billion current US$ | +25.3% |
| 2006 | 11.58 billion current US$ | +33.7% |
| 2007 | 15.34 billion current US$ | +32.5% |
| 2008 | 16.18 billion current US$ | +5.5% |
| 2009 | 9.81 billion current US$ | -39.4% |
| 2010 | 11.68 billion current US$ | +19.0% |
| 2011 | 16.29 billion current US$ | +39.5% |
| 2012 | 17.23 billion current US$ | +5.7% |
| 2013 | 17.87 billion current US$ | +3.7% |
| 2014 | 17.96 billion current US$ | +0.5% |
| 2015 | 14.72 billion current US$ | -18.1% |
| 2016 | 14.43 billion current US$ | -2.0% |
| 2017 | 17.03 billion current US$ | +18.1% |
| 2018 | 19.68 billion current US$ | +15.5% |
| 2019 | 18.96 billion current US$ | -3.7% |
| 2020 | 18.44 billion current US$ | -2.7% |
| 2021 | 24.45 billion current US$ | +32.6% |
| 2022 | 29.47 billion current US$ | +20.5% |
| 2023 | 27.34 billion current US$ | -7.2% |
Latvia compared with similar countries
- Latvia's 27.34 billion current US$ is below the median for high income countries, which is 45.81 billion current US$, 60% of the median. (74 countries reporting)
- Latvia's 27.34 billion current US$ is below the median for Europe & Central Asia, which is 57.11 billion current US$, 48% of the median. (53 countries reporting)
Biggest year-on-year movements
Years where Merchandise imports by the reporting economy in Latvia changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1992 | +26535100.0% | 3,000 current US$ | 796.06 million current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 3,000 current US$ | 3,000 current US$ | 3,000 current US$ | 1 |
| 1990s | 1.98 billion current US$ | 796.06 million current US$ | 3.19 billion current US$ | 8 |
| 2000s | 8.44 billion current US$ | 3.17 billion current US$ | 16.18 billion current US$ | 10 |
| 2010s | 16.58 billion current US$ | 11.68 billion current US$ | 19.68 billion current US$ | 10 |
| 2020s | 24.92 billion current US$ | 18.44 billion current US$ | 29.47 billion current US$ | 4 |
Countries ranked near Latvia
- 69 Qatar 30.54 billion current US$ compare
- 70 Guatemala 30.32 billion current US$ compare
- 71 Dominican Republic 28.62 billion current US$ compare
- 73 Luxembourg 26.22 billion current US$ compare
- 74 Democratic Republic of Congo 25.49 billion current US$ compare
- 75 Jordan 25.43 billion current US$ compare
More private sector data for Latvia
- Merchandise trade 99.6% (2025)
- Food imports 17.9% (2025)
- Manufactures imports 60.8% (2025)
- Merchandise imports 26.28 billion current US$ (2025)
- Food exports 22.1% (2025)
- Manufactures exports 54.2% (2025)
- Merchandise exports 22.12 billion current US$ (2025)
- Merchandise exports (current US$), per capita 11,972 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.455 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 7.16 % change on previous year (2025)
Frequently asked questions
- What is merchandise imports by the reporting economy in Latvia?
- Merchandise imports by the reporting economy in Latvia was 27.34 billion current US$ in 2023, according to Staff estimates, World Bank (WB).
- What is the highest merchandise imports by the reporting economy recorded in Latvia?
- The highest recorded value was 29.47 billion current US$ in 2022.
- What is the lowest merchandise imports by the reporting economy recorded in Latvia?
- The lowest recorded value was 3,000 current US$ in 1989.
- How does Latvia rank for merchandise imports by the reporting economy?
- Latvia ranks 72nd out of 206 countries with data for 2023.
- Is merchandise imports by the reporting economy rising or falling in Latvia?
- Over the last ten years it is up 53.0%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Merchandise imports by the reporting economy (current US$). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 33 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Merchandise imports by the reporting economy are the total merchandise imports by the reporting economy from the rest of the world, as reported in the IMF's Direction of trade database. Data are in current U.S. dollars.