Latvia GDP Q2 2018


Latvia: Economic growth accelerates in Q2

July 30, 2018

According to a flash estimate released by the Statistical Institute on 30 July, the Latvian economy expanded 5.1% in the second quarter compared to the corresponding period last year, up from the first quarter’s revised 4.0% annual growth (previously reported: +4.3% year-on-year). The expansion in Q2 was once again underpinned by a burgeoning construction sector, which expanded nearly a third year-on-year. In the same period, retail trade rose 6.0%, while industrial production grew 2.0%.

In seasonally-adjusted quarter-on-quarter terms, the economy expanded 0.8%, decelerating from the previous quarter’s revised 1.5% increase (previously reported: +1.7% quarter-on-quarter).

A more detailed breakdown of the Q2 result will be released on 31 August.

The Central Bank forecasts growth of 3.9% in 2018 and 3.0% in 2019. FocusEconomics panelists expect GDP to increase 3.7% in 2018, which is unchanged from last month’s forecast, and 3.4% in 2019.

Author:, Research Team Manager

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Latvia GDP Chart

Latvia GDP Q2  2018

Note: Year-on year changes of GDP in %.
Source: Central Statistics Bureau and FocusEconomics Consensus Forecast.

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