Markets Actual Q1 Q2 Q3 Q4 2020
Currency 1.10 1.11 1.1 1.1 1.1 1.09
Stock Market (points) 1025.47 1024 1013 1002 991 969
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 (%) 0.70 0.7 0.8 0.8 0.5 0.5
GDP Annual Growth Rate (%) 2.90 1.9 1.7 2.4 2.6 3
Unemployment Rate (%) 6.00 5.8 5.5 5.2 5.6 5.5
Inflation Rate (%) 2.30 2.5 2.5 2.4 2.5 2.5
Inflation Rate Mom (%) -0.20 1 0.5 0.9 0.2 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -114.80 -210 -300 -300 -270 -230
Current Account (EUR Million) 22.00 -90 -20 -150 50 30
Current Account to GDP (%) -1.00 -1.3 -1.3 -1.3 -1.3 -1.5
Government Debt to GDP (%) 35.90 36.1 36.1 36.1 36.1 33
Government Budget (% of GDP) -1.00 -0.6 -0.6 -0.6 -0.6 -0.7
Business Confidence (points) -6.60 0.1 0.1 0.1 -3 -3
Consumer Confidence (points) -7.30 -11 -11 -11 -15 -15
Retail Sales MoM (%) 2.60 0.9 -0.4 -0.9 0.3 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 Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 0.70 0.7 0.8 0.8 0.5 0.5
GDP Annual Growth Rate (%) 2.90 1.9 1.7 2.4 2.6 3
GDP (USD Billion) 34.85 38.2 38.2 38.2 38.2 40.5
GDP Constant Prices (EUR Thousand) 7214265.00 6127144 6964000 7272123 7401836 7623891
Gross National Product (EUR Million) 7972.00 7044 7667 8036 8179 8425
Gross Fixed Capital Formation (EUR Thousand) 1980465.00 1266470 1607437 1996348 2031957 2092916
GDP per capita (USD) 16405.70 18500 18500 18500 18500 19400
GDP per capita PPP (USD) 26437.43 28500 28500 28500 28500 29000
GDP From Agriculture (EUR Thousand) 292180.00 162669 290515 294523 299777 308770
GDP From Construction (EUR Thousand) 525104.00 233085 366318 529315 538757 554919
GDP From Manufacturing (EUR Thousand) 756393.00 675687 757554 762459 776059 799341
GDP From Mining (EUR Thousand) 196020.00 237676 187771 197592 201117 207150
GDP From Public Administration (EUR Thousand) 440316.00 345994 451425 443847 451764 465317
GDP From Services (EUR Thousand) 980050.00 753925 881688 987910 1005531 1035697
GDP From Transport (EUR Thousand) 606165.00 531098 550906 611026 621925 640583
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 6.00 5.8 5.5 5.2 5.6 5.5
Wages (EUR/Month) 783.00 840 840 840 880 880
Minimum Wages (EUR/Month) 430.00 480 480 480 480 540
Population (Million) 1.93 1.91 1.91 1.91 1.89 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 Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 2.30 2.5 2.5 2.4 2.5 2.5
Inflation Rate Mom (%) -0.20 1 0.5 0.9 0.2 0.2
Consumer Price Index CPI (points) 108.80 111 112 111 112 115
Harmonised Consumer Prices (points) 108.48 109 109 109 111 114
Core Consumer Prices (points) 107.05 108 111 110 110 112
Producer Prices (points) 118.90 125 123 123 128 131
Producer Prices Change (%) -1.10 1.3 1.8 2.2 2.5 2.5
Food Inflation (%) 2.40 2 1.9 1.9 2.1 2.2
CPI Housing Utilities (points) 108.10 110 110 111 111 114
CPI Transportation (points) 106.70 108 111 108 108 111
Money Actual Q1 Q2 Q3 Q4 2020
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 Q1 Q2 Q3 Q4 2020
Balance of Trade (EUR Million) -114.80 -210 -300 -300 -270 -230
Current Account (EUR Million) 22.00 -90 -20 -150 50 30
Current Account to GDP (%) -1.00 -1.3 -1.3 -1.3 -1.3 -1.5
Imports (EUR Million) 1250.10 1360 1520 1520 1450 1450
Exports (EUR Million) 1135.30 1150 1220 1220 1180 1360
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 35.90 36.1 36.1 36.1 36.1 33
Government Budget (% of GDP) -1.00 -0.6 -0.6 -0.6 -0.6 -0.7
Government Budget Value (EUR Million) -334454980.00 35857 35857 35857 35777 35777
Government Spending (EUR Thousand) 1146164.00 1093134 1319949 1155356 1175964 1211243
Government Spending to GDP (%) 38.50 37.8 37.8 37.8 37.8 37.5
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 (points) -6.60 0.1 0.1 0.1 -3 -3
Industrial Production (%) -0.20 2.5 2.9 3.5 3.9 4
Industrial Production Mom (%) -1.20 0.4 0.4 0.4 0.6 0.6
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Confidence (points) -7.30 -11 -11 -11 -15 -15
Retail Sales MoM (%) 2.60 0.9 -0.4 -0.9 0.3 0.5
Retail Sales YoY (%) 1.70 3.6 4.5 7.5 7.7 5.6
Consumer Spending (EUR Thousand) 4406125.00 3890494 4176760 4441462 4520684 4656305
Bank Lending Rate (%) 3.92 3.92 3.92 3.92 3.92 3.92
Gasoline Prices (USD/Liter) 1.43 1.57 1.61 1.65 1.69 1.69


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.