Statizoid

Latvia vs Panama: Military spending

Latvia
1.10 billion constant 2022 US$
in 2023
Panama
1.04 billion constant 2022 US$
in 2023
Latvia rank
86th
Panama rank
87th

Military spending over time

  • Latvia
  • Panama
0250.0M500.0M750.0M1.0B190319632023

How they compare

Latvia currently reports 1.10 billion constant 2022 US$ against 1.04 billion constant 2022 US$ in Panama, a difference of 61.90 million constant 2022 US$.

That makes Latvia's figure about 1.1 times Panama's.

The two have swapped places 4 times across 56 shared years of data; in 1918 it was Latvia ahead.

Latvia ranks 86th and Panama ranks 87th of 172 countries.

Individual pages

About this data

Indicator
Military spending
Unit
constant 2022 US$
Source
Barnum et al. - Global Military Spending Dataset (2025) – with minor processing by Our World in Data
Licence
CC BY 4.0 (Our World in Data)
Coverage
172 places, 15,402 data points, 1816–2023
Last refreshed

This data is expressed in US dollars. It is adjusted for inflation but does not account for differences in the cost of living between countries.