Latvian 1Q Curr Acct Swings To 1.1% Of GDP Surplus

The Latvian current account showed a surplus of 1.1% of gross domestic product in the first quarter, compared with a deficit of 16.8% of GDP a year earlier, the Bank of Latvia said Friday. There was a first-quarter surplus of 37.7 million Latvian lats ($75.6 million), compared with a deficit of LVL627.6 million last year. Goods exports fell 26.8% on the year in the first quarter, while imports declined 35.5%.
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