Latvia - Revenue, excluding grants (% of GDP)

Revenue, excluding grants (% of GDP) in Latvia was 40.11 as of 2019. Its highest value over the past 24 years was 43.74 in 1998, while its lowest value was 36.36 in 2008.

Definition: Revenue is cash receipts from taxes, social contributions, and other revenues such as fines, fees, rent, and income from property or sales. Grants are also considered as revenue but are excluded here.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates.

See also:

Year Value
1995 38.74
1996 37.69
1997 43.10
1998 43.74
1999 42.49
2000 39.04
2001 37.27
2002 37.22
2003 36.58
2004 36.78
2005 36.88
2006 38.90
2007 37.33
2008 36.36
2009 38.10
2010 38.00
2011 39.28
2012 39.44
2013 39.57
2014 39.86
2015 39.79
2016 41.10
2017 40.65
2018 41.36
2019 40.11

Limitations and Exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries.

Statistical Concept and Methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance