Current Account in Latvia

Latvia Current Account | Economic News & Forecasts

Latvia - Current Account

Latvia’s economy appears to have lost steam in Q1, on the heels of a robust, domestic demand-led outturn in Q4 2018. Industrial production contracted in the first two months of 2019 amid tumbling energy-sector output. Furthermore, exports were anemic in the same period, likely reflecting the broader trend of weakening trade across the European Union. Nevertheless, domestic demand seemed robust and almost certainly buffered the external-sector pullback; retail sales accelerated in January-February, signaling upbeat household spending. On the other hand, survey-based data in the quarter revealed a slight deterioration of the business climate—largely due to weaker sentiment in the industrial and construction sectors. Meanwhile, citing institutional strength and healthy public finances, Fitch Ratings affirmed Latvia’s A- credit rating on 15 April.

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 Rate1.120.65 %May 13
Stock Market1,0170.17 %May 13

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