GDP in Latvia

Latvia GDP | Economic News & Forecasts

Latvia - GDP

Economy regains traction in Q4

According to a flash estimate from the Statistical Institute released on 30 January, Latvia’s economy picked up steam in the final quarter of last year, following a brief blip in Q3 which saw the country record its slowest growth in over six years. GDP rose 2.1% in Q4 compared to the same quarter of the prior year, a substantial improvement from the 0.3% figure registered in Q3. The economy grew 0.8% quarter-on-quarter in seasonally adjusted terms in the final three months of the year, the fastest pace since June 2015.

Q4’s results were underpinned by a strong 10.0% expansion in industry, while the service sector recorded more modest 1.0% growth and the construction sector continued to decline, albeit at a reduced pace, dropping 13.0%.

The Central Bank forecasts 3.0% growth in 2017. FocusEconomics Consensus Forecast panelists expect the economy to grow 2.8% in 2017, which is down 0.1 percentage points from last month’s projection. For 2018, panelists expect the economy to expand 3.1%.

Latvia - GDP Data

2011  2012  2013  2014  2015  
Economic Growth (GDP, annual variation in %)6.2  4.0  3.0  2.4  2.7  

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Latvia GDP Chart

Latvia GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Central Statistical Bureau of Latvia and FocusEconomics calculations.

Latvia Facts

Bond Yield0.550.0 %Jun 30
Exchange Rate1.070.92 %Feb 16
Stock Market7490.46 %Feb 16

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