Current Account in Latvia
Latvia - Current AccountAnnual growth slumped to a near three-year low in the second quarter, seemingly driven by a marked deterioration in the external sector. Merchandise exports tumbled in the quarter, with June marking the sharpest contraction in over three years, on weakened demand among the country’s top trading partners. Moreover, domestic demand metrics remained downbeat in the second quarter: Flagging retail sales likely reflected frail consumer spending, while softer business sentiment suggests investment activity cooled over the quarter. Meanwhile, the economic sentiment indicator slipped to a 30-month low in July, pointing to further weakening in momentum at the outset of Q3. In other news, Prime Minister Krisjanis Karins announced a planned EUR 500 million increase to the country’s budget for next year, which would bring it to a record high of over EUR 10 billion.
Latvia - Current Account Data
|Current Account (% of GDP)||-2.7||-1.7||-0.5||1.6||0.7|
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||1.10||0.65 %||Sep 04|
|Stock Market||1,025||0.17 %||Sep 04|
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September 3, 2019
Industrial production fell 1.3% in annual working-day adjusted terms in July, contrasting June’s robust 4.4% increase.
August 12, 2019
Consumer prices fell 1.0% in July from the previous month in July, contrasting June’s 0.4% increase and marking the strongest monthly contraction since July 2015.
August 5, 2019
Industrial production rose 4.4% in annual working-day adjusted terms in June, up from a 1.7% year-on-year increase in May.
July 30, 2019
GDP increased 2.0% on annual basis in the second quarter, according to a second estimate released on 30 August.
July 15, 2019
Consumer prices rose 0.4% from the previous month in June, up from May’s 0.2% increase.