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Financial News: Latvia's Current Account Turns To Deficit In May

Latvia's Current Account Turns To Deficit In May

07/13/2017 - 07:04:00 (RTTNews)

(RTTNews) - Latvia's current account balance turned to a deficit in May from a surplus in the previous month, figures from the Latvian Central Bank showed Thursday.

The current account balance came in at a deficit of EUR 58.38 million in May versus a surplus of EUR 58.86 million in April.

In the corresponding month last year, it was a surplus of EUR 12.82 million.

The deficit on goods trade widened to EUR 204.65 million in May from EUR 156.33 million in the prior month.

At the same time, the services trade surplus increased slightly to EUR 170.44 million from EUR 168.85 million.

The capital account balance turned to a shortfall of EUR 1.56 million in May from a surplus of 39.52 million in the preceding month.

Similarly, the financial account balance showed a deficit of EUR 232.31 million against a surplus of EUR 206.8 million in April.

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