Latvia Government Debt to GDP
General government gross debt as % of GDP GGXWDG_NGDP
Latvia's government debt to gdp was 47.13% in 2025, ranked 109th globally. This represents a 0.8% increase from 2024. Data from IMF WEO, covering 1998–2025.
Overview
Latvia's government debt to gdp stood at 47.13% in 2025, a rise of +0.38% from 2024. The IMF projects 47.13% by 2025. Latvia ranked 109th globally.
Latvia’s general government debt ratio has risen from a low of 9.81 % of GDP in 1998 to an all‑time peak of 48.18 % in 2010, reflecting the fiscal strain of the global financial crisis and the subsequent euro‑area adjustment programme. After a brief trough of 9.00 % in 2007, debt has hovered near the peak, reaching 47.13 % in 2025, which places the country 109th in the world and just behind peers such as Iceland (47.42 %) and Malta (46.89 %). The 28‑year series shows a marked upward shift after 2007, with the post‑crisis surge accounting for most of the increase, while the recent decade has seen debt stabilise at a high level rather than revert to pre‑crisis lows. Continued fiscal consolidation, stronger growth, or a reversal of demographic pressures could determine whether the debt‑to‑GDP ratio begins a downward trajectory or remains entrenched near its current plateau.
Data & projection
| Year | Government Debt to GDP | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 53.52% | - | - |
| 2029* IMF | 51.94% | - | - |
| 2028* IMF | 50.39% | - | - |
| 2027* IMF | 48.97% | - | - |
| 2026* IMF | 47.44% | - | - |
| 2025* IMF | 47.13% | - | - |
| 2025 | 47.13% | +0.38% | #109 |
| 2024 | 46.76% | +2.11% | #72 |
| 2023 | 44.65% | +0.22% | #67 |
| 2022 | 44.43% | −1.45% | #66 |
| 2021 | 45.87% | +1.84% | #59 |
| 2020 | 44.04% | +6.13% | #51 |
| 2019 | 37.91% | −0.39% | #52 |
| 2018 | 38.30% | −2.03% | #61 |
| 2017 | 40.33% | −1.40% | #72 |
| 2016 | 41.73% | +3.46% | #80 |
| 2015 | 38.28% | −4.80% | #71 |
| 2014 | 43.08% | +1.31% | #102 |
| 2013 | 41.77% | −2.60% | #103 |
| 2012 | 44.37% | −2.44% | #117 |
| 2011 | 46.81% | −1.37% | #121 |
Detected Pattern
Analysis
Latvia matched the Export Boom Cycle pattern in 2017. Historically, 71% of countries showing this pattern (546 out of 768) saw government debt to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
Latvia's government debt to gdp was 47.13% in 2025. Ranked 109th globally. This represents a 0.8% increase from the previous year.
Latvia's government debt to gdp peaked at 48.18% in 2010.
The lowest government debt to gdp in Latvia was 9.00% in 2007.
Latvia ranks 109th globally in government debt to gdp as of 2025.
The World Bank indicator code is GGXWDG_NGDP. Data sourced from IMF WEO.
Latvia's government debt to gdp is projected to reach 47.13% by 2025 based on IMF projection.
The government debt to gdp of Latvia in 2025 was 47.13%. This ranks 109th in the world.
Cite this page
@misc{historysaid_latvia_government-debt-to-gdp,
title = {Latvia Government Debt to GDP},
url = {https://historysaid.com/latvia/government-debt-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}