Latvia GDP Q4 2016

Latvia

Latvia: Economy regains traction in Q4

January 30, 2017

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%.


Author:, Economist

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Latvia GDP Q4 2016

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


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