Current Account in Latvia

Latvia Current Account | Economic News & Forecasts

Latvia - Current Account

More than two months after parliamentary elections were held on 6 October, uncertainty continues to dominate the political landscape in Latvia. On 10 December, President Raimonds Vejonis withdrew his nomination of Aldis Gobzems, the leader of the populist KPV party, as the new prime minister. Gobzems failed to form a government, just like the head of the New Conservative Party, Janis Bordans, before him, leaving the country in a state of deadlock. In turn, New Unity reportedly started talks with potential partners over a formation of a center-right coalition government under Krisjanis Karins. Meanwhile, the economy seems to have decelerated slightly in the fourth quarter on the heels of strong growth in the third quarter. Industrial production fell again in October due to lower output in the energy sector, marking the largest annual contraction in nearly four years. Nevertheless, retails sales accelerated in October, propped up by low unemployment and moderate inflation, underlining strong private consumption dynamics

Latvia - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-2.7  -2.0  -0.8  1.5  -0.9  

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Latvia Current Account Chart


Latvia Current Account
Note: Current account balance as % of GDP.
Source: Bank of Latvia and FocusEconomics calculations.

Latvia Facts

ValueChangeDate
Bond Yield0.550.0 %Jun 30
Exchange Rate1.140.65 %Jan 16
Stock Market9730.17 %Jan 16

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