Social contributions in Latvia
Latvia: Social contributions was 4.62 billion current LCU in 2024. ◆ Volatile
Social contributions in Latvia, 1994–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
The most recent figure for social contributions in Latvia is 4.62 billion current LCU, measured in 2024. That is the highest value across all 31 years on record.
The figure is up 9.6% on the previous year and up 126.4% over ten years.
Over the whole period, social contributions in Latvia peaked at 4.62 billion current LCU in 2024 and was at its lowest, 180.61 million current LCU, in 1994.
That places Latvia 83rd out of 112 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 489.45 million current LCU | 180.61 million current LCU | 662.05 million current LCU | 6 |
| 2000s | 1.21 billion current LCU | 681.73 million current LCU | 2.02 billion current LCU | 10 |
| 2010s | 2.17 billion current LCU | 1.58 billion current LCU | 3.03 billion current LCU | 10 |
| 2020s | 3.79 billion current LCU | 3.10 billion current LCU | 4.62 billion current LCU | 5 |
Countries ranked near Latvia
- 80 Estonia 5.00 billion current LCU compare
- 81 Tajikistan 4.92 billion current LCU compare
- 82 Trinidad and Tobago 4.70 billion current LCU compare
- 84 Cyprus 4.52 billion current LCU compare
- 85 Afghanistan 3.72 billion current LCU compare
- 86 Niger 3.08 billion current LCU compare
More public sector data for Latvia
- Arms imports 10.00 million SIPRI trend indicator values (2024)
- Tax revenue 17.6% (2024)
- Taxes on income, profits and capital gains 10.3% (2024)
- Taxes on goods and services 38.9% (2024)
- Net investment in nonfinancial assets 5.1% (2024)
- Net lending (+) / net borrowing (-) -2.0% (2024)
- Interest payments 2.7% (2024)
- Grants and other revenue 19.0% (2024)
- Interest payments 1.9% (2023)
- Other taxes 0.1% (2024)
Frequently asked questions
- What is social contributions in Latvia?
- Social contributions in Latvia was 4.62 billion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest social contributions recorded in Latvia?
- The highest recorded value was 4.62 billion current LCU in 2024.
- What is the lowest social contributions recorded in Latvia?
- The lowest recorded value was 180.61 million current LCU in 1994.
- How does Latvia rank for social contributions?
- Latvia ranks 83rd out of 112 countries with data for 2024.
- Is social contributions rising or falling in Latvia?
- Over the last ten years it is up 126.4%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Social contributions (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 31 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Social contributions are actual or imputed contributions payable to social insurance schemes to make provisions for social benefits to be paid. 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.