Latvia recorded a Current Account deficit of 1 percent of the country's Gross Domestic Product in 2018. Latvia Current Account to GDP - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.

Current Account to GDP in Latvia averaged -4.38 percent from 1992 until 2018, 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.

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
-1.00 0.70 11.90 -20.70 1992 - 2018 percent Yearly


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.