Markets Actual Q4 Q1 Q2 Q3 2021
Currency 1.18 1.18 1.17 1.17 1.17 1.16
Stock Market (points) 1108.10 1096 1073 1051 1029 985
Government Bond 10y (%) 0.55 0.55 0.55 0.55 0.55 0.55

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -6.50 2.2 1.8 1.1 1.5 0.8
GDP Annual Growth Rate (%) -8.90 -5 0.3 13.2 6.9 5
Unemployment Rate (%) 8.60 9.9 10.5 8.8 8.8 8.7
Inflation Rate (%) -0.30 0.3 0.9 1.5 1.5 2
Inflation Rate Mom (%) 0.00 0.2 0.2 0.2 0.2 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -157.80 -270 -270 -270 -270 -230
Current Account (EUR Million) 103.00 50 50 50 50 30
Current Account to GDP (%) -0.50 -1.3 -1.5 -1.5 -1.5 -1.5
Government Debt to GDP (%) 36.90 42 45 45 45 45
Government Budget (% of GDP) -0.20 -6.6 -7.2 -7.2 -7.2 -7.2
Business Confidence (points) -1.10 -26 -19 -19 -19 -13
Consumer Confidence (points) -14.40 -17 -15 -13 -16 -14
Retail Sales MoM (%) 0.90 0.3 1.5 1.5 1.5 0.5
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 Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -6.50 2.2 1.8 1.1 1.5 0.8
GDP Annual Growth Rate (%) -8.90 -5 0.3 13.2 6.9 5
GDP (USD Billion) 34.12 28.2 31 31 31 31
GDP Constant Prices (EUR Thousand) 6290947.00 6892102 6960588 5992818 7121352 7085081
Gross National Product (EUR Million) 6915.00 8528 7426 7011 7828 8766
Gross Fixed Capital Formation (EUR Thousand) 1561647.00 2237446 1955703 1382691 1767784 2300094
GDP per capita (USD) 16697.69 14500 16100 16100 16100 16100
GDP per capita PPP (USD) 30830.10 28500 30300 30300 30300 30300
GDP From Agriculture (EUR Thousand) 281465.00 177733 158021 170266 318618 182709
GDP From Construction (EUR Thousand) 382030.00 504885 468994 274209 432458 519022
GDP From Manufacturing (EUR Thousand) 700864.00 752599 712613 664361 793378 773671
GDP From Mining (EUR Thousand) 175562.00 220543 204719 224321 198736 226719
GDP From Public Administration (EUR Thousand) 452195.00 508914 591986 352806 511885 523163
GDP From Services (EUR Thousand) 795966.00 941779 904286 737903 901034 968149
GDP From Transport (EUR Thousand) 402065.00 634965 521243 468615 455138 652744

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 8.60 9.9 10.5 8.8 8.8 8.7
Wages (EUR/Month) 836.00 880 880 880 880 880
Minimum Wages (EUR/Month) 430.00 480 540 540 540 540
Population (Million) 1.92 1.89 1.88 1.88 1.88 1.87
Retirement Age Women 63.75 63.75 64 64 64 64
Retirement Age Men 63.75 63.75 64 64 64 64

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) -0.30 0.3 0.9 1.5 1.5 2
Inflation Rate Mom (%) 0.00 0.2 0.2 0.2 0.2 0.2
Harmonised Consumer Prices (points) 108.45 111 111 111 111 114
Consumer Price Index CPI (points) 108.70 111 109 111 111 114
Core Consumer Prices (points) 108.86 110 109 110 111 112
Producer Prices (points) 104.40 128 128 107 106 131
Producer Prices Change (%) -2.10 -1.8 1.3 1.5 1.5 1.9
CPI Housing Utilities (points) 103.70 110 108 109 107 112
CPI Transportation (points) 101.40 111 107 105 103 113
Food Inflation (%) 2.20 2.1 2.1 2.1 2.1 2.2

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) 0.17 0.42 0.17 0.17 0.17 0.92

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (EUR Million) -157.80 -270 -270 -270 -270 -230
Current Account (EUR Million) 103.00 50 50 50 50 30
Current Account to GDP (%) -0.50 -1.3 -1.5 -1.5 -1.5 -1.5
Imports (EUR Million) 1232.37 1450 1450 1450 1450 1450
Exports (EUR Million) 1074.61 1180 1180 1180 1180 1360

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 36.90 42 45 45 45 45
Government Budget (% of GDP) -0.20 -6.6 -7.2 -7.2 -7.2 -7.2
Government Budget Value (EUR Million) -128615337.00 35777 35777 35777 35777 35777
Government Spending (EUR Thousand) 1346025.00 1263761 1395990 1135613 1523700 1299146
Government Spending to GDP (%) 38.90 46.2 41.8 41.8 41.8 41.8

Taxes Actual Q4 Q1 Q2 Q3 2021
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 Q4 Q1 Q2 Q3 2021
Business Confidence (points) -1.10 -26 -19 -19 -19 -13
Industrial Production (%) -3.00 -0.5 2 2.2 1.8 2
Industrial Production Mom (%) -0.40 0.6 0.6 0.6 0.6 0.6

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) -14.40 -17 -15 -13 -16 -14
Retail Sales MoM (%) 0.90 0.3 1.5 1.5 1.5 0.5
Retail Sales YoY (%) 4.10 2 2.5 2.6 2.9 3.3
Consumer Spending (EUR Thousand) 3288856.00 3929718 3894312 3701435 3722985 4039751
Bank Lending Rate (%) 4.36 4.02 3.73 3.73 3.73 4.52
Gasoline Prices (USD/Liter) 1.31 1.2 1.13 1.07 1.02 1.14


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.