Markets Actual Q3 Q4 Q1 Q2 2020
Currency 1.12 1.13 1.13 1.12 1.12 1.11
Stock Market (points) 1031.76 1008 994 981 968 942
Government Bond 10y (%) 0.55 0.55 0.55 0.55 0.55 0.55
Overview Actual Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) -0.10 0.8 0.6 0.7 0.8 0.5
GDP Annual Growth Rate (%) 3.00 2.5 2.3 2.5 2.7 3.1
Unemployment Rate (%) 6.90 6.1 5.8 7 6.7 5.6
Inflation Rate (%) 3.00 2.8 2.4 2 2 2.2
Inflation Rate Mom (%) 0.30 0.2 0.2 0.2 0.2 0.4
Interest Rate (%) 0.00 0 0 0 0 0.25
Balance of Trade (EUR Million) -361.70 -330 -330 -210 -300 -270
Current Account to GDP (%) -1.00 -1.5 -1.5 -2 -2 -2
Government Debt to GDP (%) 35.90 34.6 34.6 33.2 33.2 33.2
Government Budget (% of GDP) -1.00 -0.9 -0.9 -0.6 -0.6 -0.6
Business Confidence (Index Points) 0.30 0.8 0.1 0.1 0.1 -3
Consumer Confidence (Index Points) -4.50 -13 -11 -11 -11 -15
Retail Sales MoM (%) -1.10 1.8 1.5 1.5 1.5 0.4
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 31.40 31.4 31.4 31.4 31.4 31.4
GDP Actual Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) -0.10 0.8 0.6 0.7 0.8 0.5
GDP Annual Growth Rate (%) 3.00 2.5 2.3 2.5 2.7 3.1
GDP (USD Billion) 34.85 35.8 35.8 38.2 38.2 38.2
GDP Constant Prices (EUR Thousand) 5380515.00 6269875 6704379 6594999 6594999 6892102
Gross National Product (EUR Million) 7073.00 7831 8295 8160 8160 8528
Gross Fixed Capital Formation (EUR Thousand) 1302986.00 1893302 2176504 2140994 2140994 2237446
GDP per capita (USD) 16405.70 16950 16950 17500 17500 17500
GDP per capita PPP (USD) 26437.43 27300 27300 28500 28500 28500
GDP From Agriculture (EUR Thousand) 163881.00 258284 172892 170071 170071 177733
GDP From Construction (EUR Thousand) 231614.00 466801 491133 483120 483120 504885
GDP From Manufacturing (EUR Thousand) 602035.00 687444 732100 720156 720156 752599
GDP From Mining (EUR Thousand) 215398.00 173040 214536 211036 211036 220543
GDP From Public Administration (EUR Thousand) 265080.00 334713 495052 486975 486975 508914
GDP From Services (EUR Thousand) 729173.00 923339 916127 901181 901181 941779
GDP From Transport (EUR Thousand) 569936.00 648123 617671 607593 607593 634965
Labour Actual Q3 Q4 Q1 Q2 2020
Unemployment Rate (%) 6.90 6.1 5.8 7 6.7 5.6
Wages (EUR/Month) 791.00 739 840 840 840 880
Minimum Wages (EUR/Month) 430.00 430 430 480 480 480
Population (Million) 1.93 1.91 1.91 1.89 1.89 1.89
Retirement Age Women 63.25 63.25 63.5 63.75 63.75 63.75
Retirement Age Men 63.25 63.25 63.5 63.75 63.75 63.75
Prices Actual Q3 Q4 Q1 Q2 2020
Inflation Rate (%) 3.00 2.8 2.4 2 2 2.2
Inflation Rate Mom (%) 0.30 0.2 0.2 0.2 0.2 0.4
Consumer Price Index CPI (Index Points) 109.70 109 109 110 111 111
Core Consumer Prices (Index Points) 108.00 108 108 107 108 110
Producer Prices (Index Points) 120.50 123 124 124 123 127
Producer Prices Change (%) 3.10 2.8 3.2 2.7 2.3 2.5
CPI Housing Utilities (Index Points) 107.60 107 107 110 109 110
CPI Transportation (Index Points) 107.90 109 109 107 110 111
Food Inflation (%) 4.10 1.6 1.6 2 1.9 2.1
Money Actual Q3 Q4 Q1 Q2 2020
Interest Rate (%) 0.00 0 0 0 0 0.25
Interbank Rate (%) 0.17 0.17 0.17 0.42 0.17 0.42
Trade Actual Q3 Q4 Q1 Q2 2020
Balance of Trade (EUR Million) -361.70 -330 -330 -210 -300 -270
Current Account to GDP (%) -1.00 -1.5 -1.5 -2 -2 -2
Imports (EUR Million) 1429.97 1420 1380 1360 1520 1450
Exports (EUR Million) 1068.28 1090 1050 1150 1220 1180
Government Actual Q3 Q4 Q1 Q2 2020
Government Debt to GDP (%) 35.90 34.6 34.6 33.2 33.2 33.2
Government Budget (% of GDP) -1.00 -0.9 -0.9 -0.6 -0.6 -0.6
Government Spending (EUR Thousand) 899824.00 930222 1229339 1209283 1209283 1263761
Government Spending to GDP (%) 38.50 38 38 37.8 37.8 37.8
Taxes Actual Q3 Q4 Q1 Q2 2020
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 31.40 31.4 31.4 31.4 31.4 31.4
Sales Tax Rate (%) 21.00 21 21 21 21 21
Social Security Rate (%) 35.09 35.09 35.09 35.09 35.09 35.09
Social Security Rate For Companies (%) 24.09 24.09 24.09 24.09 24.09 24.09
Social Security Rate For Employees (%) 11.00 11 11 11 11 11
Business Actual Q3 Q4 Q1 Q2 2020
Business Confidence (Index Points) 0.30 0.8 0.1 0.1 0.1 -3
Industrial Production (%) 1.70 5.5 4.1 2.5 2.5 3.9
Industrial Production Mom (%) 2.10 0.3 0.4 0.4 0.4 0.6
Consumer Actual Q3 Q4 Q1 Q2 2020
Consumer Confidence (Index Points) -4.50 -13 -11 -11 -11 -15
Retail Sales MoM (%) -1.10 1.8 1.5 1.5 1.5 0.4
Retail Sales YoY (%) 1.20 3.2 3.1 3.1 3.1 4.2
Consumer Spending (EUR Thousand) 3482523.00 3971560 3822683 3760317 3760317 3929718
Bank Lending Rate (%) 3.48 3.77 3.77 4.02 3.48 4.02
Gasoline Prices (USD/Liter) 1.46 1.26 1.23 1.2 1.31 1.2


This page has economic forecasts for Latvia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Latvia economy.