Compensation of employees in Latvia
Latvia: Compensation of employees was 19.2% in 2023. ▼ Falling
Compensation of employees in Latvia, 1994–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
The most recent figure for compensation of employees in Latvia is 19.2%, measured in 2023.
Compared with earlier readings it is up 10.4% on the previous year and up 18.5% over ten years.
Over the whole period, compensation of employees in Latvia peaked at 23.5% in 1995 and was at its lowest, 14.1%, in 2010.
That places Latvia 100th out of 155 countries with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently falling across the 30 years of available data.
Compensation of employees in Latvia, year by year
| Year | % of expense | Change |
|---|---|---|
| 1994 | 18.3% | — |
| 1995 | 23.5% | +28.7% |
| 1996 | 23.1% | -1.7% |
| 1997 | 18.4% | -20.4% |
| 1998 | 17.1% | -7.4% |
| 1999 | 18.0% | +5.2% |
| 2000 | 19.3% | +7.4% |
| 2001 | 20.4% | +5.5% |
| 2002 | 20.0% | -1.6% |
| 2003 | 22.0% | +9.7% |
| 2004 | 19.1% | -13.0% |
| 2005 | 19.0% | -0.5% |
| 2006 | 18.3% | -3.5% |
| 2007 | 21.8% | +18.8% |
| 2008 | 20.6% | -5.3% |
| 2009 | 16.8% | -18.6% |
| 2010 | 14.1% | -16.2% |
| 2011 | 15.4% | +9.6% |
| 2012 | 15.7% | +1.7% |
| 2013 | 16.2% | +3.0% |
| 2014 | 16.5% | +2.3% |
| 2015 | 17.2% | +4.1% |
| 2016 | 18.1% | +5.0% |
| 2017 | 18.7% | +3.7% |
| 2018 | 18.7% | -0.1% |
| 2019 | 18.7% | +0.1% |
| 2020 | 18.3% | -2.2% |
| 2021 | 17.5% | -4.7% |
| 2022 | 17.4% | -0.6% |
| 2023 | 19.2% | +10.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 19.7% | 17.1% | 23.5% | 6 |
| 2000s | 19.7% | 16.8% | 22.0% | 10 |
| 2010s | 16.9% | 14.1% | 18.7% | 10 |
| 2020s | 18.1% | 17.4% | 19.2% | 4 |
Countries ranked near Latvia
More public sector data for Latvia
- Arms imports 10.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 5.36 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0002 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate -76.19 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 10.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 763.99 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0324 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 13.71 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 1.43 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 674.92 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is compensation of employees in Latvia?
- Compensation of employees in Latvia was 19.2% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest compensation of employees recorded in Latvia?
- The highest recorded value was 23.5% in 1995.
- What is the lowest compensation of employees recorded in Latvia?
- The lowest recorded value was 14.1% in 2010.
- How does Latvia rank for compensation of employees?
- Latvia ranks 100th out of 155 countries with data for 2023.
- Is compensation of employees rising or falling in Latvia?
- Over the last ten years it is up 18.5%. The long-run trend across the full record is falling.
- 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 Compensation of employees (% of expense). Statizoid updates them automatically from the source API.
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About this data
Compensation of employees is defined as the total remuneration, in cash or in kind, payable by an enterprise to an employee in return for work done by the latter during the accounting period. This indicator is expressed as percentage of total expenses which is any decrease in net worth resulting from a transaction.