Latvia's trade deficit has widened considerably in December 2024, as the trade balance figures unveil a substantial increase in the negative balance. According to updated data released on February 11, 2025, the country's trade balance deteriorated to -381.3 million euros, marking a notable decline from November 2024's figure of -124.9 million euros.
The latest figures underscore potential economic challenges Latvian exporters may have faced during the last month of 2024. Various factors, including shifts in international demand, currency fluctuations, or rising import costs, could have contributed to the negative trade balance, although specific reasons were not detailed in the current data release.
As Latvia navigates the new year, addressing the widening trade deficit will likely be a priority for policymakers. The shift in the trade balance may spur discussions on strategic economic measures to bolster exports or curb imports, aiming to stabilize the economic outlook in the forthcoming months. The country's economic stakeholders will be keenly observing future trade data releases to gauge any improvement or deterioration in the economic environment.
