Latvia GDP Q3 2018


Latvia: Growth softens but remains robust in Q3

October 30, 2018

According to a flash estimate released by the Statistical Institute on 30 October, the economy expanded 4.8% in year-on-year terms in the third quarter, down slightly from the second quarter’s sturdy 5.3% increase. Growth in Q3 was once again led by the booming construction sector, followed by the retail trade and industrial sectors.

In seasonally-adjusted quarter-on-quarter terms, growth doubled from 0.9% in Q2 to 1.8% in Q3, marking the fastest expansion in seven years.

A more detailed breakdown of the Q3 result will be released on 30 November.

The Central Bank forecasts growth of 3.2% in 2019. FocusEconomics panelists expect GDP to increase 3.4% in 2019, which is unchanged from last month’s forecast, and 3.1% in 2020.

Author:, Research Team Manager

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Latvia GDP Chart

Latvia GDP Q3  2018

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

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