Annual credit card spending in Latvia 2000-2021, in local currency and USD
used to be more common in Latvia: in 2016, there were 0.49 credit cards per capita. In 2019, however, this number had dropped to 0.17 cards per capita. Originally denominated in euros, the data was converted to U.S. dollars by Statista to allow for cross-country comparisons worldwide.
The value of payments made with cards that have a credit function in Latvia from 2007 to 2020 fluctuated during the period observed and has declined since 2017. In 2013, the value of payments amounted to approximately 0.4 billion euros. By 2020 this had increased to roughly 0.7 billion euros, an increase of four hundred million euros. However, in 2017, this number amounted to almost one billion euros. Credit cards