Markets Actual Q1 Q2 Q3 Q4 2020
Currency 1.14 1.13 1.13 1.12 1.12 1.1
Stock Market (points) 975.63 913 898 883 868 839
Government Bond 10y (%) 0.55 0.55 0.55 0.55 0.55 0.55
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 1.70 0.9 0.5 1.6 0.6 0.6
GDP Annual Growth Rate (%) 4.70 3.1 2.9 3.3 4.2 2.8
Unemployment Rate (%) 7.00 8 8 6.2 7.9 8.2
Inflation Rate (%) 2.60 2.9 2.7 2.8 2.4 2.2
Inflation Rate Mom (%) -0.40 0.3 0.4 0.2 0.2 0.4
Interest Rate (%) 0.00 0 0 0.25 0.25 0.75
Balance of Trade (EUR Million) -132.40 -220 -260 -250 -228 -200
Current Account to GDP (%) 0.70 -0.8 -0.8 -0.8 -0.8 -0.5
Government Debt to GDP (%) 40.10 35.8 35.8 35.8 35.8 36
Government Budget (% of GDP) -0.50 0.6 0.6 0.6 0.6 0.2
Business Confidence (Index Points) -0.70 4 2 0.8 0.1 -3
Consumer Confidence (Index Points) -8.20 -10 -8 -13 -11 -15
Retail Sales MoM (%) 2.30 2.1 1.9 1.8 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 Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 1.70 0.9 0.5 1.6 0.6 0.6
GDP Annual Growth Rate (%) 4.70 3.1 2.9 3.3 4.2 2.8
GDP (USD Billion) 30.26 44 44 44 44 48
GDP Constant Prices (EUR Thousand) 6208804.00 5277913 6061218 6277225 6469574 6650722
Gross National Product (EUR Million) 7746.00 6605 7219 7831 8071 8297
Gross Fixed Capital Formation (EUR Thousand) 1876256.00 1192487 1595325 1896932 1955059 2009800
GDP per capita (USD) 15553.33 16200 16200 16200 16200 16902
GDP per capita PPP (USD) 25063.85 26141 26141 26141 26141 26610
GDP From Agriculture (EUR Thousand) 264587.00 158297 269091 267503 275700 283419
GDP From Construction (EUR Thousand) 461111.00 221945 370678 476328 480478 493931
GDP From Manufacturing (EUR Thousand) 679952.00 579246 718041 687445 708510 728348
GDP From Mining (EUR Thousand) 171175.00 256916 176137 176824 178364 183359
GDP From Public Administration (EUR Thousand) 331071.00 266200 350250 341996 344976 354635
GDP From Services (EUR Thousand) 911012.00 697866 822846 921051 949275 975854
GDP From Transport (EUR Thousand) 634176.00 551570 560053 641165 660811 679314
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 7.00 8 8 6.2 7.9 8.2
Wages (EUR/Month) 728.00 770 739 739 840 880
Minimum Wages (EUR/Month) 430.00 480 480 480 480 540
Population (Million) 1.93 1.91 1.91 1.91 1.91 1.89
Retirement Age Women 63.25 63.5 63.25 63.25 63.5 63.75
Retirement Age Men 63.25 63.5 63.25 63.25 63.5 63.75
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 2.60 2.9 2.7 2.8 2.4 2.2
Inflation Rate Mom (%) -0.40 0.3 0.4 0.2 0.2 0.4
Consumer Price Index CPI (Index Points) 106.40 108 109 109 109 112
Harmonised Consumer Prices (Index Points) 106.21 108 109 109 109 112
Core Consumer Prices (Index Points) 105.24 106 108 108 108 110
Producer Prices (Index Points) 120.30 0.1 0.6 0.1 129 134
Producer Prices Change (%) 5.40 4.7 4.1 3.5 3.4 2.5
CPI Housing Utilities (Index Points) 104.70 105 106 107 107 110
CPI Transportation (Index Points) 106.00 107 110 109 109 112
Food Inflation (%) 0.60 3.77 3.31 3.76 3.4 3.8
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 0.00 0 0 0.25 0.25 0.75
Interbank Rate (%) 0.17 0.17 0.17 0.22 0.27 0.27
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (EUR Million) -132.40 -220 -260 -250 -228 -200
Current Account to GDP (%) 0.70 -0.8 -0.8 -0.8 -0.8 -0.5
Imports (EUR Million) 1300.64 1440 1490 1396 1410 1590
Exports (EUR Million) 1168.22 1250 1180 1033 1210 1380
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 40.10 35.8 35.8 35.8 35.8 36
Government Budget (% of GDP) -0.50 0.6 0.6 0.6 0.6 0.2
Government Budget Value (EUR Million) -128929722.00 24444 38121 35348 35857 35777
Government Spending (EUR Thousand) 920083.00 905826 1093213 950446 958726 985571
Government Spending to GDP (%) 38.00 38 38 38 38 38
Taxes Actual Q1 Q2 Q3 Q4 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 Q1 Q2 Q3 Q4 2020
Business Confidence (Index Points) -0.70 4 2 0.8 0.1 -3
Industrial Production (%) -0.60 4.2 4.8 5.5 4.1 3.9
Industrial Production Mom (%) 0.90 0.4 0.4 0.3 0.4 0.6
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Confidence (Index Points) -8.20 -10 -8 -13 -11 -15
Retail Sales MoM (%) 2.30 2.1 1.9 1.8 1.5 0.4
Retail Sales YoY (%) 4.00 3.3 3.4 3.2 3.1 4.2
Consumer Spending (EUR Thousand) 3926972.00 3419925 3673092 3970247 4091905 4206478
Bank Lending Rate (%) 3.43 3.43 3.43 3.48 3.53 3.53
Gasoline Prices (USD/Liter) 1.46 1.38 1.34 1.31 1.28 1.28


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.