In the third quarter, GDP increased 5.3% over the same period last year, according to the flash estimate published by the statistical office on 9 November. The reading came in above the 5.0% expansion recorded in the second quarter and beat market expectations of a 4.5% increase. According to the statistical office, the strong expansion in Q3 was fuelled by growth in industry (+7.0% year-on-year), trade (+7.0% yoy) and construction (+8.0% yoy). On a quarter-on-quarter basis, GDP increased a seasonally adjusted 1.7% over the previous quarter, above the 1.3% increase tallied in the second quarter. More detailed data will be released on 7 December.
Economy accelerates in Q3
November 9, 2012
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Latvia GDP Chart
Note: Year-on-year changes of GDP in %.
Source: Central Statistics Bureau and FocusEconomics Consensus Forecast.
Latvia Economic News
October 10, 2016
In September, consumer prices increased 0.4% from the previous month, which contrasted August’s 0.6% decrease.
October 4, 2016
Industrial production in Latvia contracted 0.6% year-on-year in August, which contrasted the 2.6% increase in July.
September 8, 2016
In August, consumer prices fell 0.6% over the previous month and came in below July’s 0.3% decrease.
September 5, 2016
Industrial production in Latvia grew 2.7% year-on-year in July, which was down from 7.9% increase in June.
August 31, 2016
In the second quarter, Latvia’s economy increased 2.1% year-on-year, according to a revised set of data released by the Statistical Institute on 31 August.