Latvia and Belize
Latvia and Belize maintain a diplomatic relationship organised through the United Nations and contacts in international forums. Accreditation of Belize’s first ambassador in 2024 and ministerial meetings illustrate concrete channels, although her mandate ended in July 2025 and should not be presented as current.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08Bilateral context
Relations were established on 3 February 2005 at Latvia’s United Nations representation in New York.
What merchandise trade shows
In 2024, goods trade between Latvia and Belize totalled 0.0238 million current USD.
Documented trade sectors
Within the selected chapters, electrical and electronic equipment stands out in shipments from Latvia to Belize, at 0.00136 million USD in 2024.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 0.0238 M USD | 2024 · Comtrade |
| Goods: Latvia to Belize | 0.0238 M USD | 2024 · Comtrade |
| Goods: Belize to Latvia | 0.0000503 M USD | 2024 · Comtrade |
| Services trade | ||
| Export share: Latvia to Belize | ||
| Export share: Belize to Latvia | ||
| Investment stock: Latvia in Belize | ||
| Investment stock: Belize in Latvia |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2024 · UN Comtrade · Goods; full calendar year; reporter LVA. Both directions come from the same verified customs document, not from adding mirror declarations together. Exports generally FOB; imports generally CIF.
- Goods: Latvia to Belize
- 2024 · UN Comtrade · Goods; full calendar year; reporter LVA. Both directions come from the same verified customs document, not from adding mirror declarations together. Exports generally FOB; imports generally CIF.
- Goods: Belize to Latvia
- 2024 · UN Comtrade · Goods; full calendar year; reporter LVA. Both directions come from the same verified customs document, not from adding mirror declarations together. Exports generally FOB; imports generally CIF.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | Latvia | Belize |
|---|---|---|
| Nominal GDP | 48.62 billion USD2025 · WB | 3.33 billion USD2025 · WB |
| GDP per capita | 26,311.97 USD2025 · WB | 7,865.48 USD2025 · WB |
| GDP growth | 2.14 %2025 · WB | 2.75 %2025 · WB |
| Policy interest rate | ||
| Inflation · annual average | 3.75 %Annual average · 2025 · WB | 1.06 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | ||
| Unemployment | 6.57 %ILO est.2025 · WB | 8.86 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -4 %IMF est.2025 · IMF | -1 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 46.9 %IMF est.2025 · IMF | 67.9 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -3.38 %2025 · WB | -2.77 %2025 · WB |
| Population | 1,847,785World Bank est.2025 · WB | 422,9242025 · WB |
| Area | 64,590 km²2023 · WB | 22,966 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDLatvia: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.Belize: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP per capita
- Current USD per personLatvia: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.Belize: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP growth
- Annual real change (%)Latvia: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.Belize: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Policy interest rate
- Central bank instrument (%)
- Inflation · annual average
- Average annual change in headline CPI (%)Latvia: 2025 · Annual average CPI change (%) · World Bank · Annual World Bank observation, with its original year; not monthly data.Belize: 2025 · Annual average CPI change (%) · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency stated
- Unemployment
- % of the labour force; definition used by the stated institutionLatvia: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Annual World Bank observation, with its original year; not monthly data.Belize: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Annual World Bank observation, with its original year; not monthly data.
- Budget balance
- General government (% of GDP)Latvia: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.Belize: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)Latvia: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.Belize: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPLatvia: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.Belize: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Population
- PeopleLatvia: 2025 · World Bank · WB est. · The source indicates an extrapolated population; this is not a census count.Belize: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Area
- Total area in km²; territorial coverage of the sourceLatvia: 2023 · World Bank · Annual World Bank observation, with its original year; not monthly data.Belize: 2023 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Latvia to Belize
| Product or sector | Value / share |
|---|---|
| Electrical and electronic equipment | 0.00136 M USD2024 · Source |
Belize to Latvia
| Product or sector | Value / share |
|---|---|
| Electrical and electronic equipment | 0.0000503 M USD2024 · Source |
Connections between people
Therese Rath was Belize’s first ambassador accredited to Latvia, resident in London, from 17 June 2024 to 31 July 2025. [1]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Latvia living in Belize | ||
| Residents from Belize living in Latvia | ||
| Study and training: Latvia in Belize | ||
| Study and training: Belize in Latvia | ||
| Academic stays: Latvia in Belize | ||
| Academic stays: Belize in Latvia | ||
| Travel: Latvia to Belize | ||
| Travel: Belize to Latvia |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
Bilateral context
Relations were established on 3 February 2005 at Latvia’s United Nations representation in New York. Permanent representatives Gints Jegermanis and Stuart Leslie signed the protocol. [1]
The scale of both economies
Nominal GDP for Latvia is 48.6 billion USD (2025), compared with 3.3 for Belize (2025). The reference populations are 1.85 and 0.423 million, respectively. In the same year, the economy of Latvia was 14.62 times that of Belize in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [4] [5]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Cooperation and bilateral issues
Cooperation mainly takes place in international organisations; the Latvian profile identifies geographical distance as limiting its intensity, not as absence of a relationship. Therese Rath was Belize’s first ambassador accredited to Latvia, resident in London, from 17 June 2024 to 31 July 2025. Baiba Braže met Foreign Minister Francis Fonseca in New York on 24 September 2024. In June 2025, Latvia’s ambassador to the United States, Elita Kuzma, held another meeting with Fonseca during the OAS General Assembly. These meetings are bilateral within multilateral frameworks. [1]
What merchandise trade shows
In 2024, merchandise trade between the two countries (Latvia and Belize) totalled 0.0238 million current USD. Shipments from the first to the second were 0.0238 million; those in the opposite direction, 0.0000503 million. The difference between the two flows was 0.0237 million, in favour of Latvia. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [2]
Documented trade sectors
Within the selected chapters, electrical and electronic equipment stands out in shipments from Latvia to Belize, at 0.00136 million USD in 2024. Within the selected chapters, electrical and electronic equipment stands out in shipments from Belize to Latvia, at 0.0000503 million USD in 2024. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [3]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — LVA-BLZ
www.mfa.gov.lv · Institutional source · Accessed: 2026-10-08
- UN Comtrade annual data; reused verified primary payload, not re-downloaded
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Official series — gdp
World Bank · Institutional source · Accessed: 2026-10-07
- Official series — population
World Bank · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade
2026-10-08 · Accessed: 2026-10-08 · Bounded matrix; reporter, partner, year, chapter and direction identified in each record.