Latvia’s current account switched to a surplus of EUR 12 million in January of 2023 from a EUR 199 million deficit in the corresponding month of the previous year. The surplus expanded in services to EUR 206 million from EUR 152 million and in the secondary income to EUR 27 million from EUR 11 million in January 2022. Also, primary income grew to EUR 1 million after EUR 58 million deficit. On the other hand, the goods account gap remained almost unchanged at EUR 223 million vs EUR 224 million in the same period last year. source: Bank of Latvia

Current Account in Latvia averaged -71.71 EUR Million from 2000 until 2023, reaching an all time high of 343.00 EUR Million in June of 2009 and a record low of -546.00 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. Latvia Current Account - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

Current Account in Latvia is expected to be -120.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Latvia Current Account

Calendar GMT Actual Previous Consensus TEForecast
2023-02-13 11:00 AM Dec €-37M €-140M € -140.0M
2023-03-16 11:00 AM Jan €12M €-28M
2023-04-13 10:00 AM Feb

Related Last Previous Unit Reference
Balance of Trade -217.20 -650.57 EUR Million Jan 2023
Current Account 12.00 -28.00 EUR Million Jan 2023
Exports 1629.25 1717.63 EUR Million Jan 2023
Imports 1846.37 2368.20 EUR Million Jan 2023
External Debt 39289.00 38358.00 EUR Million Dec 2022
Capital Flows 320000.00 -168000.00 EUR THO Dec 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
12.00 -28.00 343.00 -546.00 2000 - 2023 EUR Million Monthly

News Stream
Latvia Current Account Switches to Deficit in December
Latvia’s current account switched to a deficit of EUR 37 million in December of 2022 from a EUR 168 million surplus in the corresponding month of the previous year. The goods account deficit widened to EUR 421 million from EUR 179 million. The secondary income surplus increased to EUR 94 million from EUR 35 million, while the primary income surplus narrowed to EUR 109 million from EUR 126 million. Meanwhile, the services surplus declined to EUR 180 million from EUR 187 million.
Latvia Records Slight Current Account Surplus in September
Latvia recorded a current account surplus of EUR 3 million in September of 2022, nearing a perfect balance compared to the deficit of EUR 86 million in the corresponding period of the previous year. Still, it was the first surplus since December 2021. The net positive services account widened to EUR 199 million from EUR 122 million and the secondary account surplus rose to EUR 60 million from EUR 34 million, while the primary income deficit narrowed to 86 million from EUR 118 million. On the other hand, the goods account gap widened to EUR 169 million from EUR 124 million, as soaring energy costs drove import values to surge.
Latvia Current Account Deficit Widens in May
Latvia’s current account deficit widened to EUR 291 million in May of 2022 from EUR 174 million in the corresponding month of the previous year. The goods account gap widened to EUR 452 million from EUR 266 million and the secondary income surplus fell to EUR 6 million from EUR 33 million. At the same time, the services surplus edged down to EUR 129 million from EUR 130 million. Meanwhile, the primary income switched to surplus of EUR 27 million from EUR 71 million deficit.