The paper deals with the volume and dynamics of Latvian balance of payments’ current account’s deficit and takes a look at the results of international comparison. The author suggests to use two additional indicators (elaborated by the author) in the analysis of current account’s deficit (current account’s deficit per inhabitant, and current account’s deficit to foreign reserve amount). Author points out the strengths and weaknesses of the presented indicators, as well as practical applications for analysis and forecasting of Latvia’s current account’s deficit. The presented indicators are empirically calculated with respect to historical data (1995-2006) placing special emphasis on 2006.