GDP in Latvia

Latvia GDP | Economic News & Forecasts

Latvia - GDP

Growth slumps to nearly three-year low in Q2

Economic momentum weakened further in the second quarter, according to preliminary national accounts data released by Latvia’s Statistical Institute on 30 July. Annual growth decelerated to 2.1% in Q2, from 3.0% in Q1, marking the weakest expansion since Q3 2016. The result reflected slowing industrial output growth which was partly cushioned by a healthy expansion in the services sector.

Meanwhile, in seasonally- and working-day adjusted quarter-on-quarter terms, the economy rose 0.8% in Q2, rebounding from a mild 0.1% dip in Q1 which had marked the first contraction in output in over three years.

The Central Bank forecasts growth of 3.5% in 2019 and 3.1% in 2020. FocusEconomics panelists, meanwhile, expect GDP to increase 3.4% in 2019, which is unchanged from last month’s forecast, and 3.2% in 2020.

Latvia - GDP Data

2013  2014  2015  2016  2017  
Economic Growth (GDP, annual variation in %)2.4  1.9  3.0  2.1  4.6  

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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

ValueChangeDate
Bond Yield0.550.0 %Jun 30
Exchange Rate1.110.65 %Jul 31
Stock Market1,0390.17 %Jul 31

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