Prices & public finance · Europe & Central Asia · High income
Latvia: prices, money and public finance
Inflation is 3.7% (2025), 70th of 180 in the world and 25th of 49 in Europe & Central Asia. GDP deflator is 3.6% (2025), 91st of 209 in the world and 27th of 56 in Europe & Central Asia. Exchange rate is 0.88 (2025), 189th of 210 in the world and 43rd of 57 in Europe & Central Asia.
Inflation
LatviaEurope & Central AsiaHigh incomeWorld
GDP deflator
LatviaEurope & Central AsiaHigh incomeWorld
9 indicators
Prices & public finance: Latvia in detail
Latest reported value, world rank and rank within Europe & Central Asia; values around 2000, 2010, 2020; group and world columns are World Bank aggregates.
| Indicator | Latest | World rank | In region | ~2000 | ~2010 | ~2020 | 10-year change | Region | Income group | World | Since 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| InflationInflation, consumer prices, annual % | 3.7%2025 | 70/180 | 25/49 | 2.7% | -1.1% | 0.2% | +3.6 ppsince 2015 | 3.7% | 2.3% | 3.0% | |
| GDP deflatorInflation, GDP deflator, annual % | 3.6%2025 | 91/209 | 27/56 | 3.8% | -0.5% | 2.4% | +3.2 ppsince 2015 | 3.6% | 2.6% | 3.3% | |
| Exchange rateOfficial exchange rate, local currency per US$ | 0.882025 | 189/210 | 43/57 | 0.61 | 0.53 | 0.88 | −1.8%since 2015 | — | — | — | |
| Tax revenueTax revenue, % of GDP | 17.6%2024 | 64/142 | 34/48 | 14.9% | 14.2% | 16.3% | +1.5 ppsince 2014 | 19.7% | 15.3% | 13.9% | |
| Government revenueGovernment revenue excluding grants, % of GDP | 33.9%2024 | 34/142 | 27/48 | 28.2% | 27.3% | 31.4% | +4.9 ppsince 2014 | 34.7% | 26.3% | 24.0% | |
| Government expenseGovernment expense, % of GDP | 34.2%2023 | 38/142 | 27/47 | 32.4% | 39.6% | 36.2% | +2.5 ppsince 2013 | 38.9% | 30.1% | 28.5% | |
| Private creditDomestic credit to private sector, % of GDP | 29.3%2024 | 112/169 | 40/48 | · | 96.6% | 34.7% | −23.9 ppsince 2014 | 82.1% | 152.1% | 140.3% | |
| Reserves, months of importsTotal reserves in months of imports | 2.02025 | 131/165 | 35/49 | 3.8 | 6.3 | 2.9 | −10%since 2015 | 6.3 | 7.9 | 8.6 | |
| Military spendingMilitary expenditure, % of GDP | 3.61%2025 | 16/156 | 6/47 | 0.90% | 1.11% | 2.23% | +2.5 ppsince 2015 | 2.83% | 2.80% | 2.48% |
Source: World Bank, World Development Indicators (CC BY 4.0)“·” — no value reported within two years of that date. World rank counts countries with a recent value.
Better than ten years ago
No rated indicator improved over the decade.
Worse than ten years ago
- Inflation+3.6 pp3.7% in 2025
- Reserves, months of imports−10%2.0 in 2025
Only indicators where higher or lower is clearly better are rated (for example, unemployment down is better, life expectancy up is better).
neighbours
Latvia and its neighbours
Countries sharing a land border with Latvia. Latest values since 2005; the highest in each row is marked.
| Indicator | Latvia | Russia | Sweden | Belarus | Lithuania | Estonia |
|---|---|---|---|---|---|---|
| Inflation | 3.7%2025 | 8.7%2025 | 0.7%2025 | 6.6%2025 | 3.8%2025 | 4.8%2025 |
| GDP deflator | 3.6%2025 | 4.9%2025 | 1.2%2025 | 10.9%2025 | 3.6%2025 | 3.8%2025 |
| Exchange rate | 0.882025 | 83.652025 | 9.822025 | 3.072025 | 0.882025 | 0.882025 |
| Tax revenue | 17.6%2024 | 10.9%2024 | 27.2%2024 | 13.0%2024 | 21.9%2024 | 22.7%2024 |
| Government revenue | 33.9%2024 | 27.8%2024 | 33.0%2024 | 28.1%2024 | 35.1%2024 | 38.3%2024 |
| Government expense | 34.2%2023 | 30.0%2023 | 32.5%2022 | 28.5%2023 | 33.9%2023 | 37.7%2023 |
| Private credit | 29.3%2024 | 54.6%2021 | 125.3%2024 | 29.2%2021 | 35.7%2024 | 60.5%2024 |
| Reserves, months of imports | 2.02025 | 16.82024 | 2.22025 | 3.02025 | 1.22025 | 0.72025 |
| Military spending | 3.61%2025 | 7.50%2025 | 2.47%2025 | 2.40%2025 | 3.08%2025 | 3.37%2025 |