Flag of Latvia Latvia

Wireless payment

Digitalization

Internet usage (of pop.)
90%
Did online shopping (age 15+)
48 – 49%
Paid bills via internet (age 15+)
71 – 73%
Accessed a bank account online (age 15+)
69 – 70%
Paid utility bills using a mobile phone (age 15+)
10 – 13%
Made or received digital payments (age 15+)
> 98%

Data overview for Latvia

Wireless payment

Digitalization

Internet usage (of pop.)
90%
Did online shopping (age 15+)
48 – 49%
Paid bills via internet (age 15+)
71 – 73%
Accessed a bank account online (age 15+)
69 – 70%
Paid utility bills using a mobile phone (age 15+)
10 – 13%
Made or received digital payments (age 15+)
> 98%
Business chart

Macro data

Population 2020
1.9M
GDP Total 2020
€146B
GDP per capita 2020 (PPP)
€27,900
GDP forecast 2021
3.9%
Trade Flows (% of GDP)
113.3%
Cash increase

Banking data

Total bank assets 2020
€88.8B
Total bank assets 2020/GDP
60.7%
Account ownership (age 15+)
> 98%
Debit card ownership (age 15+)
95 – 98%
Coin in hand

Economic data

Unemployment
7.2%
Currency
EUR
Remittances (% of GDP)
3.3%
Private Consumption (yoy)
9.8%

Data provided by Raiffeisen Research, Sources

Latvia compared to other CEE countries

Flag of LatviaLatvia

Internet usage (of pop.)
90%
Did online shopping (age 15+)
48 – 49%
Paid bills via internet (age 15+)
71 – 73%
Accessed a bank account online (age 15+)
69 – 70%

Flag of EstoniaEstonia

Internet usage (of pop.)
90%
Did online shopping (age 15+)
68 – 70%
Paid bills via internet (age 15+)
94 – 95%
Accessed a bank account online (age 15+)
91 – 93%

Flag of RussiaRussia

Internet usage (of pop.)
75.9%
Did online shopping (age 15+)
35 – 39%
Paid bills via internet (age 15+)
43 – 47%
Accessed a bank account online (age 15+)
42 – 45%

Flag of BelarusBelarus

Internet usage (of pop.)
80.2%
Did online shopping (age 15+)
43 – 45%
Paid bills via internet (age 15+)
55 – 57%
Accessed a bank account online (age 15+)
45 – 47%

Data provided by Raiffeisen Research, Sources

See all CEE countries