Latvia’s economy shrank 1.4 percent year-on-year in the fourth quarter of 2020, following a 2.6 percent slump in the previous period, a flash estimate showed. It was the fourth consecutive quarter of contraction, amid the coronavirus crisis. The services sector shrank 3.2 percent while manufacturing output grew 3.7 percent. On a quarterly seasonally adjusted basis, the GDP expanded 1.1 percent, after growing 7.1 percent in the previous quarter. source: Central Statistical Bureau of Latvia
GDP Annual Growth Rate in Latvia averaged 3.77 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 February of 2021.
GDP Annual Growth Rate in Latvia is expected to be 1.30 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 5.00 in 12 months time. In the long-term, the Latvia GDP Annual Growth Rate is projected to trend around 5.00 percent in 2022 and 3.00 percent in 2023, according to our econometric models.