Latvia Current Account Gap Widens in March

Latvia’s recorded a current account deficit widened to EUR 214 million in March 2026, compared with EUR 189 million deficit in the same month of the previous year. The goods account shortfall expanded to EUR 360 million from EUR 318 million a year earlier, while the primary income account deficit widened to EUR 107 million from EUR 32 million. On the other hand, the services account surplus increased to EUR 171 million from EUR 86 million and the secondary account surplus grew to EUR 82 million from EUR 75 million.

Latvia recorded a current account deficit of EUR 23 million in February 2026, shifting from a surplus of EUR 3 million in the same month a year earlier, though the gap was the smallest since February 2024. The deterioration was mainly driven by the goods account, where the deficit widened sharply to EUR 288 million from EUR 112 million a year earlier. In contrast, the services account surplus increased to EUR 152 million from EUR 124 million. The primary income balance also improved, swinging to a surplus of EUR 41 million from a deficit of EUR 53 million, while the secondary income surplus grew to EUR 72 million from EUR 44 million.

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.