The Latvian economy shrank 0.1 percent on quarter in the first three months of 2019, below an earlier estimate of a 0.3 percent contraction and after a downwardly revised 0.9 percent growth in the previous period, final figures showed. It was the first contraction since the fourth quarter of 2015, as construction output contracted (-0.7 percent vs 5.6%) and growth slowed in agriculture, forestry, fishing (1.4% vs 4.5%); manufacturing (a flat reading vs 2.4% in Q4); information & communication (1.2% vs 3.2); arts, entertainment and recreation (1.6% vs 1.7%) and professional, scientific and technical activities (0.8% vs 1%). Meanwhile, output fell less in mining & utilities (-4.2% vs -4.8%); finance & insurance (-6.4% vs -9.9%); real estate activities (-1.2% vs -4.7%). Year-on-year, the GDP advanced 3 percent, the weakest growth since the third quarter of 2018, easing from a 5.1 percent expansion in the prior quarter but higher than a flash estimate of 2.8 percent. GDP Growth Rate in Latvia averaged 0.98 percent from 1995 until 2019, reaching an all time high of 6.40 percent in the fourth quarter of 1996 and a record low of -6.10 percent in the second quarter of 2009.

GDP Growth Rate in Latvia is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Latvia to stand at 0.70 in 12 months time. In the long-term, the Latvia GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.

Latvia GDP Growth Rate
width
height
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Calendar GMT Actual Previous Consensus TEForecast
2019-01-30 11:00 AM GDP Growth Rate QoQ Flash Q4 1.1% 1.8% 0.8%
2019-02-28 11:00 AM GDP Growth Rate QoQ Final Q4 1.2% 1.6% 1.1%
2019-04-30 10:00 AM GDP Growth Rate QoQ Flash Q1 -0.3% 0.9% 0.9%
2019-05-31 10:00 AM GDP Growth Rate QoQ Final Q1 -0.1% 0.9% -0.3%
2019-07-30 10:00 AM GDP Growth Rate QoQ Flash Q2 -0.1% 0.5%
2019-08-30 10:00 AM GDP Growth Rate QoQ Final Q2 0.5%
2019-10-30 11:00 AM GDP Growth Rate QoQ Flash Q3 0.8%


Latvia GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.10 0.90 6.40 -6.10 percent [+]
GDP Annual Growth Rate 3.00 5.10 13.90 -16.20 percent [+]
GDP 34.85 30.46 35.60 4.50 USD Billion [+]
GDP Constant Prices 5380515.00 6434145.00 6434145.00 2207929.00 EUR Thousand [+]
Gross National Product 7073.00 7961.00 7961.00 945.00 EUR Million [+]
Gross Fixed Capital Formation 1302986.00 2099775.00 2402613.00 95826.00 EUR Thousand [+]
GDP per capita 16405.70 15532.20 16405.70 5140.53 USD [+]
GDP per capita PPP 26437.43 25029.79 26437.43 7796.00 USD [+]
GDP From Agriculture 163881.00 165923.00 287649.00 75089.00 EUR Thousand [+]
GDP From Construction 231614.00 471337.00 631870.00 92342.00 EUR Thousand [+]
GDP From Manufacturing 602035.00 702591.00 711150.00 333666.00 EUR Thousand [+]
GDP From Mining 215398.00 205889.00 253926.00 96547.00 EUR Thousand [+]
GDP From Public Administration 265080.00 475098.00 559872.00 182541.00 EUR Thousand [+]
GDP From Services 729173.00 879201.00 913275.00 181772.00 EUR Thousand [+]
GDP From Transport 569936.00 592774.00 641059.00 228683.00 EUR Thousand [+]


Latvia GDP Growth Rate

Latvia's GDP growth in recent years has been mostly driven by expansion in consumption and credit. The main industries are: synthetic fibers, agricultural machinery, fertilizers, radios, electronics, pharmaceuticals, processed foods, textiles and timber. On the expenditure side, household consumption is the main component of GDP and accounts for 61 percent of its total use, followed by gross fixed capital formation (23 percent) and government expenditure (18 percent). Exports of goods and services account for 59 percent while imports account for 62 percent, subtracting 3 percent of total GDP. Latvia joined the Euro in 2014. This page provides - Latvia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-0.10 0.90 6.40 -6.10 1995 - 2019 percent Quarterly




Country Last Previous
United States 3.10 Mar/19
China 1.60 Jun/19
India 1.60 Dec/18
Turkey 1.30 Mar/19
Saudi Arabia 1.07 Dec/18
Spain 0.70 Mar/19
Japan 0.60 Mar/19
Switzerland 0.60 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Australia 0.40 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Canada 0.10 Mar/19
Italy 0.10 Mar/19
Argentina -0.20 Mar/19
Brazil -0.20 Mar/19
Mexico -0.20 Mar/19
Russia -0.40 Mar/19
South Korea -0.40 Mar/19
Indonesia -0.52 Mar/19
South Africa -3.20 Mar/19
Singapore -3.40 Jun/19


Related

Latest