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 113th of 205 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% |
Latvia compared with similar countries
- Latvia's -1.6% is below the median for high income countries, which is 1.6%. (69 countries reporting)
- Latvia's -1.6% is below the median for Europe & Central Asia, which is -0.7%, 2.2× the median. (50 countries reporting)
Biggest year-on-year movements
Years where Current account balance as a proportion of GDP (%) in Latvia changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2020 | +1880.9% | -0.2% | 3.1% |
| 2016 | +1490.2% | -0.1% | 1.8% |
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
- Real gdp growth, annual growth rate 96.07 % change on previous year (2024)
- SDRs holdings, US dollar, annual growth rate 5.34 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0125 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 327.81 units per person (2025)
- SDRs holdings, SDR, annual growth rate 0.3105 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0091 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 239.37 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -2.79 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0077 units per US$ of GDP (2025)
- IMF holdings of currency, US dollar, per capita 203.25 units per person (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 113th out of 205 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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