Markets Actual Q2 Q3 Q4 Q1 2022
Currency 1.21 1.21 1.2 1.2 1.19 1.18
Stock Market (points) 1207.79 1180 1155 1131 1107 1060
Government Bond 10y (%) 0.55 0.55 0.55 0.55 0.55 0.55

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -1.70 1.4 4 1.3 1.2 1
GDP Annual Growth Rate (%) -1.30 6.3 4.1 4.8 7.8 4.5
Unemployment Rate (%) 8.10 10.2 10.2 8.7 8.2 7.4
Inflation Rate (%) 2.60 2.7 2.8 2.9 2.3 2
Inflation Rate Mom (%) 0.50 0.2 0.2 0.2 0.2 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -216.78 -270 -270 -230 -230 -230
Current Account (EUR Million) -17.00 50 50 30 30 30
Current Account to GDP (% of GDP) 3.00 0.6 0.6 0.6 0.2 0.2
Government Debt to GDP (% of GDP) 43.50 45 45 45 45 47
Government Budget (% of GDP) -4.50 -7.2 -7.2 -7.2 -2.1 -2.1
Business Confidence (points) 2.80 -5 -3 -2 -1 2
Consumer Confidence (points) -1.80 -13 -16 -14 -8 -10
Retail Sales MoM (%) 3.90 1.5 1.5 0.5 0.5 0.5
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 31.00 31.4 31.4 31.4 31.4 31.4

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -1.70 1.4 4 1.3 1.2 1
GDP Annual Growth Rate (%) -1.30 6.3 4.1 4.8 7.8 4.5
GDP (USD Billion) 34.12 31 31 31 31 33.5
GDP Constant Prices (EUR Thousand) 5927191.00 6687277 7317846 7572268 7789032 7913021
Gross National Product (EUR Million) 6609.00 7351 7948 8563 8808 8949
Gross Fixed Capital Formation (EUR Thousand) 1280864.00 1660031 2007569 2142055 2203374 2238448
GDP per capita (USD) 16697.69 16100 16100 16100 16100 16700
GDP per capita PPP (USD) 30830.10 30300 30300 30300 30300 31000
GDP From Agriculture (EUR Thousand) 159856.00 299197 328910 181556 186753 189726
GDP From Construction (EUR Thousand) 235846.00 406098 507825 495711 509902 518018
GDP From Manufacturing (EUR Thousand) 699195.00 745018 829198 863557 888277 902417
GDP From Mining (EUR Thousand) 188700.00 186622 149752 182845 188079 191073
GDP From Public Administration (EUR Thousand) 359620.00 480683 464278 662070 681022 691863
GDP From Services (EUR Thousand) 764712.00 846112 1087166 1051276 1081370 1098583
GDP From Transport (EUR Thousand) 445201.00 427395 537175 506174 520663 528951

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 8.10 10.2 10.2 8.7 8.2 7.4
Wages (EUR/Month) 932.00 880 880 880 880 880
Minimum Wages (EUR/Month) 500.00 500 500 500 560 560
Population (Million) 1.91 1.88 1.88 1.87 1.87 1.85
Retirement Age Women 63.75 64 64 64 64 64.25
Retirement Age Men 63.75 64 64 64 64 64.25

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 2.60 2.7 2.8 2.9 2.3 2
Inflation Rate Mom (%) 0.50 0.2 0.2 0.2 0.2 0.2
Harmonised Consumer Prices (points) 111.27 111 111 114 114 114
Consumer Price Index CPI (points) 111.50 112 112 111 113 114
Core Consumer Prices (points) 109.68 110 109 112 112 112
Producer Prices (points) 110.60 110 111 131 115 117
Producer Prices Change (%) 5.10 5.2 6.6 6.5 5.3 4.1
CPI Housing Utilities (points) 105.60 108 107 107 107 109
CPI Transportation (points) 108.60 104 104 105 110 107
Food Inflation (%) 0.90 1.1 1.6 2.2 2 2.2

Money Actual Q2 Q3 Q4 Q1 2022
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 Q2 Q3 Q4 Q1 2022
Balance of Trade (EUR Million) -216.78 -270 -270 -230 -230 -230
Current Account (EUR Million) -17.00 50 50 30 30 30
Current Account to GDP (% of GDP) 3.00 0.6 0.6 0.6 0.2 0.2
Imports (EUR Million) 1466.27 1450 1450 1450 1450 1450
Exports (EUR Million) 1249.49 1180 1180 1360 1360 1360

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (% of GDP) 43.50 45 45 45 45 47
Government Budget (% of GDP) -4.50 -7.2 -7.2 -7.2 -2.1 -2.1
Government Budget Value (EUR Million) -98266920.00 35777 35777 35777 35777 35777
Government Spending (EUR Thousand) 1136585.00 1430825 1205190 1549938 1594306 1619685
Government Spending to GDP (% of GDP) 43.60 41.8 41.8 41.8 41.8 39

Taxes Actual Q2 Q3 Q4 Q1 2022
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 31.00 31.4 31.4 31.4 31.4 31.4
Sales Tax Rate (%) 21.00 21 21 21 21 21
Social Security Rate (%) 34.09 35.09 35.09 35.09 35.09 35.09
Social Security Rate For Companies (%) 23.59 24.09 24.09 24.09 24.09 24.09
Social Security Rate For Employees (%) 10.50 11 11 11 11 11

Business Actual Q2 Q3 Q4 Q1 2022
Business Confidence (points) 2.80 -5 -3 -2 -1 2
Industrial Production (%) 20.50 3.9 2.7 1.3 2.5 3.3
Industrial Production Mom (%) 2.60 1 0.8 0.2 0.6 0.3

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) -1.80 -13 -16 -14 -8 -10
Retail Sales MoM (%) 3.90 1.5 1.5 0.5 0.5 0.5
Retail Sales YoY (%) 15.60 2.6 2.9 3.3 3.3 3.3
Consumer Spending (EUR Thousand) 3500529.00 3496054 4133398 3868853 3979603 4042952
Bank Lending Rate (%) 3.79 3.69 3.69 3.69 3.69 3.69
Gasoline Prices (USD/Liter) 1.60 1.39 1.32 1.14 1.19 1.13


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.