Latvia Current Account Balance
Current account balance as % of GDP BN.CAB.XOKA.GD.ZS
Latvia's current account balance was -2.12% in 2025, ranked 97th globally. This represents a 34.3% decrease from 2024. Data from World Bank, covering 1992–2025.
Overview
Latvia's current account balance stood at -2.12% in 2025, a decline of +0.54% from 2024. The IMF projects -2.12% by 2025. Latvia ranked 97th globally.
Latvia’s current‑account balance has swung from a surplus of 15.77 % of GDP in 1993, the all‑time peak, to a deep deficit of –22.12 % in 2006, its lowest point over the 34‑year series, before moderating to –2.12 % in 2025, ranking 97th globally. The 1990s surplus reflected rapid export growth and fiscal consolidation after independence, while the 2006 trough coincided with a credit‑fuelled boom and external shock that reversed trade flows. Since the global financial crisis, the deficit has narrowed considerably, aligning with peers such as Saudi Arabia (–2.08 %) and Côte d’Ivoire (–2.15 %) in 2025, suggesting a shift toward a more balanced external position. Persistent structural challenges, including a relatively small export base and reliance on energy imports, keep the deficit modestly negative, but continued diversification of exports and improvements in domestic savings could gradually move the balance toward surplus in the coming years.
Data & projection
| Year | Current Account Balance | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -2.50% | - | - |
| 2029* IMF | -2.63% | - | - |
| 2028* IMF | -2.65% | - | - |
| 2027* IMF | -2.43% | - | - |
| 2026* IMF | -2.31% | - | - |
| 2025* IMF | -2.12% | - | - |
| 2025 | -2.12% | −0.54% | #97 |
| 2024 | -1.57% | +2.26% | #88 |
| 2023 | -3.89% | +1.58% | #60 |
| 2022 | -5.48% | −1.41% | #71 |
| 2021 | -4.14% | −7.18% | #71 |
| 2020 | 3.09% | +3.26% | #152 |
| 2019 | -0.17% | +0.22% | #124 |
| 2018 | -0.38% | −1.86% | #126 |
| 2017 | 1.53% | −0.25% | #140 |
| 2016 | 1.76% | +1.86% | #155 |
| 2015 | -0.13% | +1.34% | #135 |
| 2014 | -1.54% | +1.35% | #112 |
| 2013 | -2.89% | +0.99% | #104 |
| 2012 | -3.87% | −0.35% | #88 |
| 2011 | -3.55% | −5.28% | #92 |
Detected Pattern
Analysis
Latvia matched the Export Boom Cycle pattern in 2017. Historically, 71% of countries showing this pattern (546 out of 768) saw current account balance improve within 24 months. View full analysis →
Frequently Asked Questions
Latvia's current account balance was -2.12% in 2025. Ranked 97th globally. This represents a 34.3% decrease from the previous year.
Latvia's current account balance peaked at 15.77% in 1993.
The lowest current account balance in Latvia was -22.12% in 2006.
Latvia ranks 97th globally in current account balance as of 2025.
The World Bank indicator code is BN.CAB.XOKA.GD.ZS. Data sourced from World Bank.
Latvia's current account balance is projected to reach -2.12% by 2025 based on IMF projection.
The current account balance of Latvia in 2025 was -2.12%. This ranks 97th in the world.
Cite this page
@misc{historysaid_latvia_current-account,
title = {Latvia Current Account Balance},
url = {https://historysaid.com/latvia/current-account/},
publisher = {HistorySaid},
year = {2026}
}