Military spending in Latvia
Latvia: Military spending was 1.60 billion constant 2024 US$ in 2025. ◆ Volatile
Latest (2025)
1.60 billion constant 2024 US$
Change on year
up 11.1%
World rank
74th
of 162 countries
All-time high
1.60 billion constant 2024 US$
in 2025
All-time low
98.87 million constant 2024 US$
in 1997
Years of data
33
1993–2025
Military spending in Latvia, 1993–2025
Source: Stockholm International Peace Research Institute (2026) – with minor processing by Our World in Data. Measured in constant 2024 US$.
Analysis
Latvia recorded 1.60 billion constant 2024 US$ for military spending in 2025. That is the highest value across all 33 years on record.
That represents a change of up 11.1% on the previous year and up 298.7% over ten years.
Over the whole period, military spending in Latvia peaked at 1.60 billion constant 2024 US$ in 2025 and was at its lowest, 98.87 million constant 2024 US$, in 1997.
Latvia ranks 74th of 162 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Military spending in Latvia, year by year
| Year | constant 2024 US$ | Change |
|---|---|---|
| 1993 | 115.97 million constant 2024 US$ | — |
| 1994 | 135.50 million constant 2024 US$ | +16.8% |
| 1995 | 131.31 million constant 2024 US$ | -3.1% |
| 1996 | 102.09 million constant 2024 US$ | -22.3% |
| 1997 | 98.87 million constant 2024 US$ | -3.2% |
| 1998 | 106.52 million constant 2024 US$ | +7.7% |
| 1999 | 138.44 million constant 2024 US$ | +30.0% |
| 2000 | 172.95 million constant 2024 US$ | +24.9% |
| 2001 | 217.09 million constant 2024 US$ | +25.5% |
| 2002 | 354.93 million constant 2024 US$ | +63.5% |
| 2003 | 409.48 million constant 2024 US$ | +15.4% |
| 2004 | 442.01 million constant 2024 US$ | +7.9% |
| 2005 | 514.36 million constant 2024 US$ | +16.4% |
| 2006 | 646.60 million constant 2024 US$ | +25.7% |
| 2007 | 704.86 million constant 2024 US$ | +9.0% |
| 2008 | 690.61 million constant 2024 US$ | -2.0% |
| 2009 | 438.60 million constant 2024 US$ | -36.5% |
| 2010 | 332.09 million constant 2024 US$ | -24.3% |
| 2011 | 343.67 million constant 2024 US$ | +3.5% |
| 2012 | 315.92 million constant 2024 US$ | -8.1% |
| 2013 | 339.20 million constant 2024 US$ | +7.4% |
| 2014 | 351.79 million constant 2024 US$ | +3.7% |
| 2015 | 401.59 million constant 2024 US$ | +14.2% |
| 2016 | 578.80 million constant 2024 US$ | +44.1% |
| 2017 | 657.24 million constant 2024 US$ | +13.6% |
| 2018 | 895.90 million constant 2024 US$ | +36.3% |
| 2019 | 896.05 million constant 2024 US$ | +0.0% |
| 2020 | 941.84 million constant 2024 US$ | +5.1% |
| 2021 | 975.00 million constant 2024 US$ | +3.5% |
| 2022 | 972.04 million constant 2024 US$ | -0.3% |
| 2023 | 1.27 billion constant 2024 US$ | +30.9% |
| 2024 | 1.44 billion constant 2024 US$ | +13.3% |
| 2025 | 1.60 billion constant 2024 US$ | +11.1% |
Latvia compared with similar countries
- Latvia's 1.60 billion constant 2024 US$ is below the median for high income countries, which is 6.82 billion constant 2024 US$, 23% of the median. (54 countries reporting)
- Latvia's 1.60 billion constant 2024 US$ is below the median for Europe & Central Asia, which is 2.80 billion constant 2024 US$, 57% of the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 118.38 million constant 2024 US$ | 98.87 million constant 2024 US$ | 138.44 million constant 2024 US$ | 7 |
| 2000s | 459.15 million constant 2024 US$ | 172.95 million constant 2024 US$ | 704.86 million constant 2024 US$ | 10 |
| 2010s | 511.23 million constant 2024 US$ | 315.92 million constant 2024 US$ | 896.05 million constant 2024 US$ | 10 |
| 2020s | 1.20 billion constant 2024 US$ | 941.84 million constant 2024 US$ | 1.60 billion constant 2024 US$ | 6 |
Countries ranked near Latvia
- 71 Uzbekistan 1.77 billion constant 2024 US$ compare
- 72 Nigeria 1.76 billion constant 2024 US$ compare
- 73 Armenia 1.65 billion constant 2024 US$ compare
- 75 Libya 1.60 billion constant 2024 US$ compare
- 76 Ireland 1.46 billion constant 2024 US$ compare
- 77 Bahrain 1.46 billion constant 2024 US$ compare
More reference data data for Latvia
- Emission Totals - Indirect emissions (N2O) - Manure applied to Soils 0.128 (2050)
- Emission Totals - Indirect emissions (N2O) - Manure left on Pasture 0.0503 (2050)
- Emission Totals - Indirect emissions (N2O) - IPCC Agriculture 0.4657 (2050)
- Emission Totals - Indirect emissions (N2O) - Crop Residues 0.0673 (2050)
- Emission Totals - Indirect emissions (N2O) - Agricultural Soils 0.4657 (2050)
- Emission Totals - Emissions (N2O) - Manure applied to Soils 0.4291 (2050)
- Emission Totals - Emissions (N2O) - Manure Management 0.2986 (2050)
- Emission Totals - Emissions (N2O) - Manure left on Pasture 0.2679 (2050)
- Emission Totals - Emissions (N2O) - IPCC Agriculture 2.27 (2050)
- Emission Totals - Emissions (N2O) - Crop Residues 0.3666 (2050)
Frequently asked questions
- What is military spending in Latvia?
- Military spending in Latvia was 1.60 billion constant 2024 US$ in 2025, according to Stockholm International Peace Research Institute (2026) – with minor processing by Our World in Data.
- What is the highest military spending recorded in Latvia?
- The highest recorded value was 1.60 billion constant 2024 US$ in 2025.
- What is the lowest military spending recorded in Latvia?
- The lowest recorded value was 98.87 million constant 2024 US$ in 1997.
- How does Latvia rank for military spending?
- Latvia ranks 74th out of 162 countries with data for 2025.
- Is military spending rising or falling in Latvia?
- Over the last ten years it is up 298.7%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from Stockholm International Peace Research Institute (2026) – with minor processing by Our World in Data, published as part of Military spending. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 33 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
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.