Latvia's current account surplus decreased to EUR 22 million in November of 2019 from EUR 56 million in the same period of the previous year. The goods shortfall increased to EUR 167 million from EUR 133 million a year earlier while the secondary income surplus declined to EUR 6 from EUR 86 million. Meanwhile, the services surplus widened to EUR 200 million from EUR 186 million while the primary income gap fell to EUR 17 million from EUR 83 million.

Current Account in Latvia averaged -70.58 EUR Million from 2000 until 2019, reaching an all time high of 344 EUR Million in June of 2009 and a record low of -546 EUR Million in July of 2007. This page provides the latest reported value for - Latvia Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Bank of Latvia

Current Account in Latvia is expected to be -90.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Latvia to stand at 50.00 in 12 months time. In the long-term, the Latvia Current Account is projected to trend around 30.00 EUR Million in 2020, according to our econometric models.


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Latvia Current Account

Actual Previous Highest Lowest Dates Unit Frequency
22.00 14.00 344.00 -546.00 2000 - 2019 EUR Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-10-11 10:00 AM Aug €53M €-82M €-180M
2019-11-11 11:00 AM Sep €-86M €53M €-100M
2019-12-13 11:00 AM Oct €13M €-86M €-110M
2020-01-14 11:00 AM Nov €22M €14M $ 120M
2020-02-12 11:00 AM Dec €22M $ 40M


News Stream
2019-12-13
Latvia Posts 1st Current Account Surplus in 8 Months
Latvia recorded a current account surplus of EUR 13 million in October 2019 compared to a deficit of EUR 118 million in the same month of the previous year. It was the first monthly current account surplus since February, as the services surplus rose to EUR 236 million from EUR 196 million in October 2018 and the goods gap fell to EUR 197 million from EUR 250 million. Meantime, the primary income deficit decreased to EUR 70 million from EUR 87 million a year earlier and the secondary income surplus rose to EUR 44 million from EUR 24 million.

2019-11-11
Latvia Current Account Deficit Shrinks in September
The current account gap in Latvia narrowed to EUR 86 million in September 2019 from EUR 173 million in the corresponding month of the previous year. The goods deficit fell to EUR 247 million from EUR 287 million in September 2018 and the primary income shortfall went down to EUR 70 million from EUR 86 million. In addition, the services surplus rose to EUR 234 million from EUR 182 million while the secondary income account switched to a EUR 2 million deficit from a EUR 19 million surplus.

2019-10-11
Latvia Current Account Balance Swings to Surplus in August
The current account balance in Latvia shifted to a EUR 53 million surplus in August 2019 from a EUR 156 million deficit in the corresponding month of the previous year. The goods gap narrowed to EUR 186 million from EUR 319 million a year earlier and the services surplus widened to EUR 224 million from EUR 209 million. Additionally, the primary income balance swung to a EUR 12 million surplus from a EUR 56 million shortfall in August 2018. Meanwhile, the secondary income surplus fell to EUR 3 million from EUR 9 million.

2019-09-11
Latvia Current Account Deficit Shrinks in July
The current account gap in Latvia narrowed to EUR 82 million in July of 2019 from EUR 135 million in the same month of the previous year. The goods deficit decreased to EUR 305 million from EUR 311 million in July of 2018 and the primary income shortfall shrank to EUR 31 million from EUR 83 million. Also, the services surplus rose to EUR 221 million from EUR 215 million while the secondary income surplus fell to EUR 33 million from EUR 44 million.

2019-08-09
Latvia Current Account Balance Swings to Surplus
Latvia recorded a current account surplus of EUR 41 million in June of 2019 compared to a EUR 17 million deficit in the same month of the previous year. The services surplus increased slightly to EUR 233 million from EUR 203 million in June 2018 while the goods deficit rose to EUR 237 million from EUR 174 million. Meantime, the primary income gap fell to EUR 18 million from EUR 96 million and the secondary income surplus went up to EUR 63 million from EUR 45 million a year ago.

2019-07-15
Latvia Current Account Balance Swings to Deficit in May
Latvia recorded a current account deficit of EUR 13 million in May of 2019 compared to a EUR 10 million surplus in the same month of the previous year. The goods gap widened to EUR 221 million from EUR 189 million in May of 2018 and both the services surplus (EUR 206 million from EUR 220 million) and the secondary income surplus (EUR 22 million from EUR 35 million) narrowed. At the same time, the primary income deficit fell to EUR 20 million from EUR 56 million.


Latvia Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

Latvia Trade Last Previous Highest Lowest Unit
Balance of Trade -114.80 -139.90 40.10 -557.20 EUR Million [+]
Current Account 22.00 14.00 344.00 -546.00 EUR Million [+]
Current Account to GDP -1.00 0.70 11.90 -20.70 percent [+]
Imports 1250.10 1350.10 1547.79 52.50 EUR Million [+]
Exports 1135.30 1210.20 1213.62 53.10 EUR Million [+]
External Debt 35936.00 35152.00 37824.00 825.57 EUR Million [+]
Capital Flows -520000.00 928000.00 1032590.00 -1383970.00 EUR THO [+]
Gold Reserves 6.62 6.62 7.75 6.60 Tonnes [+]
Terrorism Index 0.23 0.46 0.66 0.00 [+]
Tourist Arrivals 119345.00 144907.00 269702.00 71934.00 Units [+]
Foreign Direct Investment 154.00 121.00 315.00 -322.00 EUR Million [+]