Latvia recorded a Current Account deficit of 4.70 percent of the country's Gross Domestic Product in 2022. Current Account to GDP in Latvia averaged -3.99 percent of GDP from 1992 until 2022, reaching an all time high of 11.90 percent of GDP in 1993 and a record low of -20.60 percent of GDP in 2006. source: EUROSTAT

Current Account to GDP in Latvia is expected to reach -2.20 percent of GDP by the end of 2024, 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 -2.10 percent of GDP in 2025 and -2.00 percent of GDP in 2026, according to our econometric models.

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Latvia Current Account to GDP

Related Last Previous Unit Reference
Balance of Trade -378.63 -330.12 EUR Million Dec 2023
Current Account 43.00 -133.00 EUR Million Dec 2023
Current Account to GDP -4.70 -3.90 percent of GDP Dec 2022
Imports 1867.02 1930.35 EUR Million Dec 2023
Exports 1488.40 1600.23 EUR Million Dec 2023
External Debt 40256.00 39950.00 EUR Million Sep 2023
Capital Flows 40000.00 129000.00 EUR Thousand Sep 2023
Gold Reserves 6.66 6.66 Tonnes Dec 2023
Natural Gas Imports from Russia 0.00 0.00 Terajoule Jan 2024
Natural Gas Imports 0.00 0.00 Terajoule Jan 2024
External Debt to GDP 100.00 99.00 percent of GDP Sep 2023
Foreign Direct Investment -60.00 -14.00 EUR Million Dec 2023
Tourist Arrivals 94452.00 89501.00 Dec 2023
Terrorism Index 0.00 0.00 Points Dec 2022
Exports by Country
Exports by Category
Imports by Country
Imports by Category

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.
Actual Previous Highest Lowest Dates Unit Frequency
-4.70 -3.90 11.90 -20.60 1992 - 2022 percent of GDP Yearly