Markets Actual Q2 Q3 Q4 Q1 2021
Currency 1.13 1.13 1.12 1.12 1.11 1.11
Stock Market (points) 1039.39 1018 996 975 955 914
Government Bond 10y (%) 0.55 0.55 0.55 0.55 0.55 0.55

Overview Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) -2.90 -9.8 5 2.2 1.8 0.8
GDP Annual Growth Rate (%) -1.50 -12.8 -7.5 -5 0.3 5
Unemployment Rate (%) 7.40 8.5 9.3 9.9 10.5 8.7
Inflation Rate (%) 0.00 2.5 2.4 2.5 2.5 2.5
Inflation Rate Mom (%) -0.50 0.5 0.9 0.2 0.2 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -220.20 -300 -300 -270 -270 -230
Current Account (EUR Million) -34.00 -20 -150 50 50 30
Current Account to GDP (%) -0.50 -1.3 -1.3 -1.3 -1.5 -1.5
Government Debt to GDP (%) 36.90 42 42 42 45 45
Government Budget (% of GDP) -0.20 -6.6 -6.6 -6.6 -7.2 -7.2
Business Confidence (points) 3.80 -36 -32 -26 -19 -13
Consumer Confidence (points) -10.00 -19 -22 -17 -15 -13
Retail Sales MoM (%) -7.70 -0.4 -0.9 0.3 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 Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) -2.90 -9.8 5 2.2 1.8 0.8
GDP Annual Growth Rate (%) -1.50 -12.8 -7.5 -5 0.3 5
GDP (USD Billion) 35.80 38.2 38.2 38.2 40.5 40.5
GDP Constant Prices (EUR Thousand) 5974893.00 6610517 7020244 6960588 7348916 7308618
Gross National Product (EUR Million) 6990.00 7197 7623 7475 7892 7848
Gross Fixed Capital Formation (EUR Thousand) 1378555.00 1568523 1940640 1956585 2065742 2054414
GDP per capita (USD) 16405.70 18500 18500 18500 19400 19400
GDP per capita PPP (USD) 26437.43 28500 28500 28500 23662 29000
GDP From Agriculture (EUR Thousand) 169757.00 279738 298540 158021 166837 165922
GDP From Construction (EUR Thousand) 273389.00 367982 511950 468994 495159 492444
GDP From Manufacturing (EUR Thousand) 662374.00 720857 737445 712613 752369 748244
GDP From Mining (EUR Thousand) 223650.00 167154 174416 204719 216140 214955
GDP From Public Administration (EUR Thousand) 351751.00 429711 429319 591986 625012 621585
GDP From Services (EUR Thousand) 735696.00 836196 954392 904286 954736 949500
GDP From Transport (EUR Thousand) 467213.00 524379 588762 521243 550323 547305

Labour Actual Q2 Q3 Q4 Q1 2021
Unemployment Rate (%) 7.40 8.5 9.3 9.9 10.5 8.7
Wages (EUR/Month) 822.00 840 840 880 880 880
Minimum Wages (EUR/Month) 430.00 480 480 480 540 540
Population (Million) 1.92 1.91 1.91 1.89 1.88 1.87
Retirement Age Women 63.25 63.75 63.75 63.75 63.75 63.75
Retirement Age Men 63.25 63.75 63.75 63.75 63.75 63.75

Prices Actual Q2 Q3 Q4 Q1 2021
Inflation Rate (%) 0.00 2.5 2.4 2.5 2.5 2.5
Inflation Rate Mom (%) -0.50 0.5 0.9 0.2 0.2 0.2
Harmonised Consumer Prices (points) 108.80 109 109 111 111 114
Consumer Price Index CPI (points) 109.10 112 111 112 112 114
Core Consumer Prices (points) 108.46 111 110 109 109 112
Producer Prices (points) 105.20 104 104 128 107 131
Producer Prices Change (%) -2.10 -3 -2.5 -1.8 1.3 1.9
CPI Housing Utilities (points) 106.30 110 111 111 110 114
CPI Transportation (points) 98.50 111 108 109 107 112
Food Inflation (%) 3.20 1.9 1.9 2.1 2.1 2.2

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

Trade Actual Q2 Q3 Q4 Q1 2021
Balance of Trade (EUR Million) -220.20 -300 -300 -270 -270 -230
Current Account (EUR Million) -34.00 -20 -150 50 50 30
Current Account to GDP (%) -0.50 -1.3 -1.3 -1.3 -1.5 -1.5
Imports (EUR Million) 1318.70 1520 1520 1450 1450 1450
Exports (EUR Million) 1098.50 1220 1220 1180 1180 1360

Government Actual Q2 Q3 Q4 Q1 2021
Government Debt to GDP (%) 36.90 42 42 42 45 45
Government Budget (% of GDP) -0.20 -6.6 -6.6 -6.6 -7.2 -7.2
Government Budget Value (EUR Million) -85981066.00 35857 35857 35777 35777 35777
Government Spending (EUR Thousand) 1132216.00 1256385 1118173 1386028 1463354 1455330
Government Spending to GDP (%) 38.90 46.2 46.2 46.2 41.8 41.8

Taxes Actual Q2 Q3 Q4 Q1 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 Q2 Q3 Q4 Q1 2021
Business Confidence (points) 3.80 -36 -32 -26 -19 -13
Industrial Production (%) -9.20 -25 -18 -5 3.9 9
Industrial Production Mom (%) -7.40 0.4 0.4 0.6 0.6 0.6

Consumer Actual Q2 Q3 Q4 Q1 2021
Consumer Confidence (points) -10.00 -19 -22 -17 -15 -13
Retail Sales MoM (%) -7.70 -0.4 -0.9 0.3 1.5 0.5
Retail Sales YoY (%) -9.00 -15 -7.5 -2.5 2.5 7.7
Consumer Spending (EUR Thousand) 3690364.00 3982577 4279671 3896266 4113637 4091080
Bank Lending Rate (%) 3.73 3.92 3.92 3.92 3.92 3.92
Gasoline Prices (USD/Liter) 1.14 1.18 1.12 1.06 1.01 0.96


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.