Latvia Current Account Shifts to Surplus

Latvia recorded a current account surplus of EUR 114 million in January 2026, reversing a deficit of EUR 85 million in the same month a year earlier. This marks the largest surplus since December 2024, driven by a stronger services balance, which rose to EUR 182 million from EUR 146 million in January 2025. The primary income balance also improved, swinging to a surplus of EUR 41 million from a deficit of EUR 55 million. Meanwhile, the goods account shortfall narrowed to EUR 162 million from EUR 232 million, and the secondary income surplus slightly declined to EUR 53 million from EUR 56 million.

Latvia recorded a current account deficit of EUR 62 million in December 2025, shifting from a surplus of EUR 146 million in the same month of the previous year. The goods account shortfall expanded to EUR 388 million from EUR 331 million a year earlier, while the services account surplus narrowed to EUR 183 million from EUR 247 million. At the same time, the secondary income surplus decreased significantly to EUR 15 million from EUR 188 million. On the other hand, the primary income account surplus widened sharply to EUR 128 million, compared with EUR 43 million a year earlier.

Latvia recorded a current account deficit of €86 million in November 2025, compared with a €46 million trade surplus in the same month a year earlier, marking the largest shortfall in four months. The deterioration was largely driven by the goods account deficit, which widened to €381 million from €159 million, while the services account surplus fell to €164 million from €241 million. On the income side, the primary income account rebounded to a €36 million surplus, reversing a €95 million deficit a year ago. The secondary income account also saw its surplus expand, rising to €95 million from €59 million.