Current Account Balance: Latvia
Latvia's current account balance is currently -2.3 % of GDP as of 2026. # Latvia Current Account Balance Latvia's current account balance stands at -2.
Current (2026)
-2.3 % of GDP
-9.5% y/y
Peak (1993)
15.8 % of GDP
Low (2006)
-21.9 % of GDP
Source
IMF World Economic Outlook
1992–2026 · 39 pts
Current Account Balance — Latvia
1992 — 2026
Current Account Balance — Latvia
Analysis# Latvia Current Account Balance
Latvia's current account balance stands at -2.3% of GDP in 2026, reflecting a modest deficit after years of volatility. The country has experienced dramatic swings across its 38-year data history, peaking at 15.8% of GDP in 1993 before plummeting to -21.9% in 2006 during the pre-financial crisis period. Overall, Latvia's current account has deteriorated substantially, down 119.7 percentage points since 1992.
The most significant turning point occurred around 2020, when the pandemic-driven surplus of 3.0% GDP reversed sharply into deficits. From 2021 through 2026, Latvia's current account remained negative, averaging -2.9% GDP annually. The recent trajectory suggests stabilization rather than improvement, with deficits moderating from -5.5% in 2022 to projected -2.3% in 2026, indicating gradual rebalancing of Latvia's external accounts.
Historical Data
39 Rows| Year | Value | Change % |
|---|---|---|
| 2030 | -2.5 % of GDP | +3.85% |
| 2029 | -2.6 % of GDP | +0.00% |
| 2028 | -2.6 % of GDP | -8.33% |
| 2027 | -2.4 % of GDP | -4.35% |
| 2026 | -2.3 % of GDP | -9.52% |
| 2025 | -2.1 % of GDP | -31.25% |
| 2024 | -1.6 % of GDP | +57.89% |
| 2023 | -3.8 % of GDP | +30.91% |
| 2022 | -5.5 % of GDP | -34.15% |
| 2021 | -4.1 % of GDP | -236.67% |
| 2020 | 3 % of GDP | +1600.00% |
| 2019 | -0.2 % of GDP | +50.00% |
| 2018 | -0.4 % of GDP | -126.67% |
| 2017 | 1.5 % of GDP | -16.67% |
| 2016 | 1.8 % of GDP | +1900.00% |
| 2015 | -0.1 % of GDP | +93.33% |
| 2014 | -1.5 % of GDP | +48.28% |
| 2013 | -2.9 % of GDP | +25.64% |
| 2012 | -3.9 % of GDP | -11.43% |
| 2011 | -3.5 % of GDP | -305.88% |
Show all 39 rows
| Year | Value | Change % |
|---|---|---|
| 2010 | 1.7 % of GDP | -78.48% |
| 2009 | 7.9 % of GDP | +161.24% |
| 2008 | -12.9 % of GDP | +40.83% |
| 2007 | -21.8 % of GDP | +0.46% |
| 2006 | -21.9 % of GDP | -78.05% |
| 2005 | -12.3 % of GDP | +3.91% |
| 2004 | -12.8 % of GDP | -58.02% |
| 2003 | -8.1 % of GDP | -20.90% |
| 2002 | -6.7 % of GDP | +12.99% |
| 2001 | -7.7 % of GDP | -60.42% |
| 2000 | -4.8 % of GDP | +35.14% |
| 1999 | -7.4 % of GDP | +20.43% |
| 1998 | -9.3 % of GDP | -72.22% |
| 1997 | -5.4 % of GDP | -12.50% |
| 1996 | -4.8 % of GDP | -1500.00% |
| 1995 | -0.3 % of GDP | -106.52% |
| 1994 | 4.6 % of GDP | -70.89% |
| 1993 | 15.8 % of GDP | +35.04% |
| 1992 | 11.7 % of GDP | — |
Related Data
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For Latvia
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