Current account balance as a proportion of GDP in Latvia
Latvia: Current account balance as a proportion of GDP was -1.6% in 2024. ◆ Volatile
Current account balance as a proportion of GDP in Latvia, 2000–2024
Source: United Nations Statistics Division, SDG Global Database. Measured in %.
Analysis
In 2024, current account balance as a proportion of gdp in Latvia stood at -1.6%.
Compared with earlier readings it is up 59.5% on the previous year and down 2.2% over ten years.
Over the whole period, current account balance as a proportion of gdp in Latvia peaked at 8.0% in 2009 and was at its lowest, -22.1%, in 2006.
Latvia ranks 112th of 204 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance as a proportion of GDP in Latvia, year by year
| Year | % | Change |
|---|---|---|
| 2000 | -3.7% | — |
| 2001 | -6.1% | +63.3% |
| 2002 | -5.7% | -7.6% |
| 2003 | -7.6% | +33.6% |
| 2004 | -12.1% | +60.8% |
| 2005 | -12.2% | +0.2% |
| 2006 | -22.1% | +81.7% |
| 2007 | -21.8% | -1.3% |
| 2008 | -13.1% | -39.9% |
| 2009 | 8.0% | -161.0% |
| 2010 | 1.8% | -78.1% |
| 2011 | -3.6% | -301.9% |
| 2012 | -3.9% | +9.0% |
| 2013 | -2.9% | -25.4% |
| 2014 | -1.5% | -46.6% |
| 2015 | -0.1% | -91.8% |
| 2016 | 1.8% | -1490.2% |
| 2017 | 1.5% | -12.7% |
| 2018 | -0.4% | -125.1% |
| 2019 | -0.2% | -54.8% |
| 2020 | 3.1% | -1880.9% |
| 2021 | -4.1% | -233.7% |
| 2022 | -5.5% | +32.5% |
| 2023 | -3.9% | -29.1% |
| 2024 | -1.6% | -59.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -9.6% | -22.1% | 8.0% | 10 |
| 2010s | -0.7% | -3.9% | 1.8% | 10 |
| 2020s | -2.4% | -5.5% | 3.1% | 5 |
Countries ranked near Latvia
More economy & growth data for Latvia
- Gross capital formation (constant 2015 US$), annual growth rate 18.33 % change on previous year (2025)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.2098 constant 2015 US$ per US$ of GDP (2025)
- Gross capital formation (constant 2015 US$), per capita 5,519 constant 2015 US$ per person (2025)
- Imports of goods and services (current US$), annual growth rate 11.67 % change on previous year (2025)
- Imports of goods and services (current US$), per unit of GDP 0.6715 current US$ per US$ of GDP (2025)
- Imports of goods and services (current US$), per capita 17,669 current US$ per person (2025)
- Imports of goods and services (current LCU), annual growth rate 6.96 % change on previous year (2025)
- Imports of goods and services (current LCU), per unit of GDP 0.5943 current LCU per US$ of GDP (2025)
- Imports of goods and services (current LCU), per capita 15,636 current LCU per person (2025)
- Imports of goods and services (constant 2015 US$), annual growth rate 5.72 % change on previous year (2025)
Frequently asked questions
- What is current account balance as a proportion of gdp in Latvia?
- Current account balance as a proportion of gdp in Latvia was -1.6% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest current account balance as a proportion of gdp recorded in Latvia?
- The highest recorded value was 8.0% in 2009.
- What is the lowest current account balance as a proportion of gdp recorded in Latvia?
- The lowest recorded value was -22.1% in 2006.
- How does Latvia rank for current account balance as a proportion of gdp?
- Latvia ranks 112th out of 204 countries with data for 2024.
- Is current account balance as a proportion of gdp rising or falling in Latvia?
- Over the last ten years it is down 2.2%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Current account balance as a proportion of GDP (%). Statizoid updates them automatically from the source API.
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