Current account balance as a share of GDP in Latvia
Latvia: Current account balance as a share of GDP was -1.6% in 2024. ◆ Volatile
Current account balance as a share of GDP in Latvia, 2000–2024
Source: International Monetary Fund – processed by Our World in Data. Measured in %.
Analysis
In 2024, current account balance as a share of gdp in Latvia stood at -1.6%.
That represents a change of up 59.6% on the previous year and down 1.9% over ten years.
Over the whole period, current account balance as a share of gdp in Latvia peaked at 8.0% in 2009 and was at its lowest, -22.1%, in 2006.
Latvia ranks 106th of 193 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 share of GDP in Latvia, year by year
| Year | % | Change |
|---|---|---|
| 2000 | -3.8% | — |
| 2001 | -6.1% | +62.9% |
| 2002 | -5.7% | -7.5% |
| 2003 | -7.5% | +33.6% |
| 2004 | -12.2% | +60.9% |
| 2005 | -12.2% | +0.2% |
| 2006 | -22.1% | +81.6% |
| 2007 | -21.8% | -1.3% |
| 2008 | -13.1% | -39.9% |
| 2009 | 8.0% | -161.0% |
| 2010 | 1.8% | -78.0% |
| 2011 | -3.5% | -301.7% |
| 2012 | -3.9% | +9.0% |
| 2013 | -2.9% | -25.3% |
| 2014 | -1.5% | -46.7% |
| 2015 | -0.1% | -91.6% |
| 2016 | 1.8% | -1453.8% |
| 2017 | 1.5% | -13.1% |
| 2018 | -0.4% | -124.8% |
| 2019 | -0.2% | -55.3% |
| 2020 | 3.1% | -1917.6% |
| 2021 | -4.1% | -234.0% |
| 2022 | -5.5% | +32.4% |
| 2023 | -3.9% | -29.0% |
| 2024 | -1.6% | -59.6% |
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 value added at basic prices (GVA) (current US$), annual growth 10.14 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.8694 current US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current US$), per capita 22,876 current US$ per person (2025)
- Gross value added at basic prices (GVA) (current LCU), annual growth 5.5 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 0.7694 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 20,244 current LCU per person (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 1.99 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.5567 constant 2015 US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per 14,649 constant 2015 US$ per person (2025)
- Gross value added at basic prices (GVA) (constant LCU), annual growth 1.99 % change on previous year (2025)
Frequently asked questions
- What is current account balance as a share of gdp in Latvia?
- Current account balance as a share of gdp in Latvia was -1.6% in 2024, according to International Monetary Fund – processed by Our World in Data.
- What is the highest current account balance as a share of gdp recorded in Latvia?
- The highest recorded value was 8.0% in 2009.
- What is the lowest current account balance as a share of gdp recorded in Latvia?
- The lowest recorded value was -22.1% in 2006.
- How does Latvia rank for current account balance as a share of gdp?
- Latvia ranks 106th out of 193 countries with data for 2024.
- Is current account balance as a share of gdp rising or falling in Latvia?
- Over the last ten years it is down 1.9%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from International Monetary Fund – processed by Our World in Data, published as part of Current account balance as a share of GDP. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 25 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Current account balance as a proportion of GDP (%).