Latvia’s gross domestic product shrank 2.6 percent year-on-year in the third quarter of 2020, compared to preliminary estimates of a 3.1 percent contraction and following an 8.9 percent plunge in Q2. It was the third consecutive contraction, amid the coronavirus crisis. On a quarterly seasonally adjusted basis, the GDP expanded 7.1 percent, the most since the series began, rebounding from a record 7.1 percent contraction in the prior period and above earlier estimates of 6.6 percent. source: Central Statistical Bureau of Latvia
GDP Annual Growth Rate in Latvia averaged 3.82 percent from 1996 until 2020, reaching an all time high of 15.10 percent in the first quarter of 2007 and a record low of -15.60 percent in the third quarter of 2009. This page provides - Latvia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
GDP Annual Growth Rate in Latvia is expected to be -5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Latvia to stand at 6.90 in 12 months time. In the long-term, the Latvia GDP Annual Growth Rate is projected to trend around 5.00 percent in 2021 and 3.00 percent in 2022, according to our econometric models.