Latvia recorded a Current Account deficit of 0.50 percent of the country's Gross Domestic Product in 2019.

Current Account to GDP in Latvia averaged -4.28 percent from 1992 until 2019, reaching an all time high of 11.90 percent in 1993 and a record low of -20.70 percent in 2006. This page provides - Latvia Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia Current Account to GDP - values, historical data and charts - was last updated on October of 2020.

Current Account to GDP in Latvia is expected to reach -1.30 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Latvia Current Account to GDP is projected to trend around -1.50 percent in 2021 and -1.40 percent in 2022, according to our econometric models.

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Latvia Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
-0.50 -0.70 11.90 -20.70 1992 - 2019 percent Yearly

Latvia Trade Last Previous Highest Lowest Unit
Balance of Trade -157.80 -279.90 40.10 -557.20 EUR Million [+]
Current Account 103.00 -38.00 343.50 -546.30 EUR Million [+]
Current Account to GDP -0.50 -0.70 11.90 -20.70 percent [+]
Imports 1232.37 1329.70 1547.79 52.50 EUR Million [+]
Exports 1074.61 1049.80 1217.91 53.07 EUR Million [+]
External Debt 36444.00 34624.00 37824.00 825.57 EUR Million [+]
Capital Flows 573000.00 475000.00 1032590.00 -1383970.00 EUR THO [+]
Gold Reserves 6.70 6.70 7.75 6.60 Tonnes [+]
Terrorism Index 0.23 0.46 0.66 0.00 [+]
Tourist Arrivals 6337.00 2403.00 269702.00 2403.00 Persons [+]
Foreign Direct Investment -54.00 107.00 320.00 -322.00 EUR Million [+]

Latvia Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.