Current Account in Latvia
Latvia - Current AccountMore 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
|Current Account (% of GDP)||-2.7||-2.0||-0.8||1.5||-0.9|
5 years of economic forecasts for more than 30 economic indicators.
Latvia Current Account Chart
Source: Bank of Latvia and FocusEconomics calculations.
|Bond Yield||0.55||0.0 %||Jun 30|
|Exchange Rate||1.14||0.65 %||Jan 16|
|Stock Market||973||0.17 %||Jan 16|
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January 16, 2019
Consumer prices fell 0.4% from the previous month in December, compared to a near-flat reading in the previous month (November: - 0.1% month-on-month).
January 3, 2019
According to Latvia’s Central Statistical Bureau, industrial output fell 0.6% in working day-adjusted year-on-year terms in November, improving somewhat from the 1.9% drop recorded in October.
December 12, 2018
Consumer prices fell 0.1% from the previous month in November, compared to a 0.7% month-on-month increase in October.
December 3, 2018
Industrial output fell 1.9% in October from the same month last year, the second consecutive month of contraction (September: -1.2% year-on-year).
November 30, 2018
A comprehensive GDP release confirmed that annual growth lost some traction in the third quarter, coming in at 4.7% (previously reported: +4.8% year-on-year), down from 5.3% in the second quarter.