FX.co ★ Latvia Current Account Deficit Widens in May

In May 2025, Latvia experienced an expansion in its current account deficit, reaching EUR 106 million, compared to EUR 87 million during the same period the previous year. This increase was primarily due to an expanded trade deficit in goods and a reduced surplus in services. Specifically, the goods trade deficit increased to EUR 339 million from EUR 248 million, while the services surplus decreased to EUR 129 million from EUR 189 million. Conversely, the primary income account improved, swinging from a EUR 79 million deficit to a EUR 30 million surplus. Additionally, the secondary income surplus grew to EUR 75 million from the previous EUR 52 million.