Military expenditure in Latvia
Latvia: Military expenditure was 1.43 billion current USD in 2024. ◆ Volatile
Latest (2024)
1.43 billion current USD
Change on year
up 13.7%
World rank
75th
of 168 countries
All-time high
1.43 billion current USD
in 2024
All-time low
17.69 million current USD
in 1993
Years of data
32
1993–2024
Military expenditure in Latvia, 1993–2024
Source: SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI). Measured in current USD.
Analysis
The most recent figure for military expenditure in Latvia is 1.43 billion current USD, measured in 2024. That is the highest value across all 32 years on record.
The figure is up 13.7% on the previous year and up 382.1% over ten years.
Over the whole period, military expenditure in Latvia peaked at 1.43 billion current USD in 2024 and was at its lowest, 17.69 million current USD, in 1993.
That places Latvia 75th out of 168 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.
Military expenditure in Latvia, year by year
| Year | current USD | Change |
|---|---|---|
| 1993 | 17.69 million current USD | — |
| 1994 | 33.90 million current USD | +91.6% |
| 1995 | 43.56 million current USD | +28.5% |
| 1996 | 38.15 million current USD | -12.4% |
| 1997 | 37.99 million current USD | -0.4% |
| 1998 | 42.18 million current USD | +11.0% |
| 1999 | 56.57 million current USD | +34.1% |
| 2000 | 69.99 million current USD | +23.7% |
| 2001 | 86.97 million current USD | +24.3% |
| 2002 | 147.22 million current USD | +69.3% |
| 2003 | 189.14 million current USD | +28.5% |
| 2004 | 229.35 million current USD | +21.3% |
| 2005 | 272.55 million current USD | +18.8% |
| 2006 | 367.83 million current USD | +35.0% |
| 2007 | 481.49 million current USD | +30.9% |
| 2008 | 581.75 million current USD | +20.8% |
| 2009 | 363.81 million current USD | -37.5% |
| 2010 | 259.67 million current USD | -28.6% |
| 2011 | 296.83 million current USD | +14.3% |
| 2012 | 255.74 million current USD | -13.8% |
| 2013 | 283.57 million current USD | +10.9% |
| 2014 | 295.73 million current USD | +4.3% |
| 2015 | 282.69 million current USD | -4.4% |
| 2016 | 404.55 million current USD | +43.1% |
| 2017 | 482.46 million current USD | +19.3% |
| 2018 | 709.37 million current USD | +47.0% |
| 2019 | 691.89 million current USD | -2.5% |
| 2020 | 742.05 million current USD | +7.2% |
| 2021 | 823.08 million current USD | +10.9% |
| 2022 | 856.14 million current USD | +4.0% |
| 2023 | 1.25 billion current USD | +46.4% |
| 2024 | 1.43 billion current USD | +13.7% |
Latvia compared with similar countries
- Latvia's 1.43 billion current USD is below the median for high income countries, which is 6.62 billion current USD, 22% of the median. (54 countries reporting)
- Latvia's 1.43 billion current USD is below the median for Europe & Central Asia, which is 2.63 billion current USD, 54% of the median. (49 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 38.58 million current USD | 17.69 million current USD | 56.57 million current USD | 7 |
| 2000s | 279.01 million current USD | 69.99 million current USD | 581.75 million current USD | 10 |
| 2010s | 396.25 million current USD | 255.74 million current USD | 709.37 million current USD | 10 |
| 2020s | 1.02 billion current USD | 742.05 million current USD | 1.43 billion current USD | 5 |
Countries ranked near Latvia
More public sector data for Latvia
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Frequently asked questions
- What is military expenditure in Latvia?
- Military expenditure in Latvia was 1.43 billion current USD in 2024, according to SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI).
- What is the highest military expenditure recorded in Latvia?
- The highest recorded value was 1.43 billion current USD in 2024.
- What is the lowest military expenditure recorded in Latvia?
- The lowest recorded value was 17.69 million current USD in 1993.
- How does Latvia rank for military expenditure?
- Latvia ranks 75th out of 168 countries with data for 2024.
- Is military expenditure rising or falling in Latvia?
- Over the last ten years it is up 382.1%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from SIPRI Military Expenditure Database, Stockholm International Peace Research Institute (SIPRI), published as part of Military expenditure (current USD). Statizoid updates them automatically from the source API.
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About this data
Military spending USD, in current prices (converted at the exchange rate for the given year)