Markets Actual Q2 Q3 Q4 Q1 2023
Currency 1.06 1.05 1.05 1.04 1.03 1.02
Stock Market (points) 1033.04 996 961 927 894 832
Government Bond 10y (%) 0.55 0.55 0.55 0.55 0.55 0.55

Overview Actual Q2 Q3 Q4 Q1 2023
GDP Growth Rate (%) 2.10 -0.8 -0.4 0.7 1 1.3
GDP Annual Growth Rate (%) 5.90 1.9 0.7 1.5 0.5 4.6
Unemployment Rate (%) 6.60 7.5 7.5 7.4 7.4 6.2
Inflation Rate (%) 13.00 8.5 7.3 6.4 5.5 4
Inflation Rate Mom (%) 2.20 3.5 0.2 0.2 0.2 0.2
Interest Rate (%) 0.00 0 0.25 0.5 0.5 0.75
Balance of Trade (EUR Million) -441.46 -90 -90 -90 -90 -90
Current Account (EUR Million) -377.00 30 30 30 30 30
Current Account to GDP (% of GDP) 3.00 0.2 0.2 0.2 0.2 -0.8
Government Debt to GDP (% of GDP) 44.80 45 45 47 47 47
Government Budget (% of GDP) -7.30 -2.1 -2.1 -2.1 -2.1 -1
Business Confidence (points) -1.60 -1 -1 2 2 3
Consumer Confidence (points) -17.60 -8 -8 -10 -10 -10
Retail Sales MoM (%) 11.00 0.5 0.5 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 2023
GDP Growth Rate (%) 2.10 -0.8 -0.4 0.7 1 1.3
GDP Annual Growth Rate (%) 5.90 1.9 0.7 1.5 0.5 4.6
GDP (USD Billion) 33.51 31 31 33.5 33.5 33.5
GDP Constant Prices (EUR Thousand) 7508687.00 7148006 7481713 7621317 7546230 7971898
Gross National Product (EUR Million) 9089.00 7949 8673 9225 9134 9650
Gross Fixed Capital Formation (EUR Thousand) 2329344.00 1794241 2291881 2364284 2340991 2473041
GDP per capita (USD) 15487.93 16100 16100 16700 16700 16700
GDP per capita PPP (USD) 29932.49 30300 30300 31000 31000 31000
GDP From Agriculture (EUR Thousand) 182078.00 268465 302628 184809 182988 193310
GDP From Construction (EUR Thousand) 408524.00 367149 467505 414652 410567 433726
GDP From Manufacturing (EUR Thousand) 880529.00 872228 876671 893737 884932 934849
GDP From Mining (EUR Thousand) 171855.00 161880 144754 174433 172714 182457
GDP From Public Administration (EUR Thousand) 666774.00 487684 460340 676776 670108 707907
GDP From Services (EUR Thousand) 1090604.00 997490 1148073 1106963 1096057 1157883
GDP From Transport (EUR Thousand) 588818.00 514131 618529 597650 591762 625142

Labour Actual Q2 Q3 Q4 Q1 2023
Unemployment Rate (%) 6.60 7.5 7.5 7.4 7.4 6.2
Wages (EUR/Month) 1050.00 880 880 880 880 880
Minimum Wages (EUR/Month) 500.00 560 560 560 560 620
Population (Million) 1.91 1.87 1.87 1.85 1.85 1.85
Retirement Age Women 63.75 64 64 64.25 64.25 64.25
Retirement Age Men 63.75 64 64 64.25 64.25 64.25

Prices Actual Q2 Q3 Q4 Q1 2023
Inflation Rate (%) 13.00 8.5 7.3 6.4 5.5 4
Inflation Rate Mom (%) 2.20 3.5 0.2 0.2 0.2 0.2
Consumer Price Index CPI (points) 125.40 121 122 124 129 129
Harmonised Consumer Prices (points) 125.09 114 114 114 114 114
Core Consumer Prices (points) 112.21 112 114 115 115 117
Core Inflation Rate (%) 6.00 3.4 3.2 3.1 3.1 1.4
Producer Prices (points) 138.40 128 133 137 144 143
Producer Prices Change (%) 27.20 9.1 5.4 4.3 4.3 4
Food Inflation (%) 17.40 2 2 2.2 2.2 2.2
CPI Housing Utilities (points) 122.50 115 123 129 127 134
CPI Transportation (points) 134.70 139 140 140 140 141

Money Actual Q2 Q3 Q4 Q1 2023
Interest Rate (%) 0.00 0 0.25 0.5 0.5 0.75
Interbank Rate (%) 0.17 0.17 0.42 0.67 0.67 0.92

Trade Actual Q2 Q3 Q4 Q1 2023
Balance of Trade (EUR Million) -441.46 -90 -90 -90 -90 -90
Current Account (EUR Million) -377.00 30 30 30 30 30
Current Account to GDP (% of GDP) 3.00 0.2 0.2 0.2 0.2 -0.8
Imports (EUR Million) 2195.40 1450 1450 1450 1450 1450
Exports (EUR Million) 1753.90 1360 1360 1360 1360 1360

Government Actual Q2 Q3 Q4 Q1 2023
Government Debt to GDP (% of GDP) 44.80 45 45 47 47 47
Government Budget (% of GDP) -7.30 -2.1 -2.1 -2.1 -2.1 -1
Government Budget Value (EUR Million) 4462198.00 35777 35777 35777 35777 35777
Government Spending (EUR Thousand) 1556454.00 1459890 1238791 1579801 1564236 1652472
Government Spending to GDP (% of GDP) 43.60 41.8 41.8 39 39 39

Taxes Actual Q2 Q3 Q4 Q1 2023
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 2023
Business Confidence (points) -1.60 -1 -1 2 2 3
Industrial Production (%) 6.30 3.5 3.5 2 2 2
Industrial Production Mom (%) 3.50 0.6 0.6 0.3 0.3 0.2

Consumer Actual Q2 Q3 Q4 Q1 2023
Consumer Confidence (points) -17.60 -8 -8 -10 -10 -10
Retail Sales MoM (%) 11.00 0.5 0.5 0.5 0.5 0.5
Retail Sales YoY (%) 13.20 0.9 1.7 1.7 1.7 3.3
Consumer Spending (EUR Thousand) 3922812.00 3871501 4398932 3981654 3942426 4164810
Gasoline Prices (USD/Liter) 1.91 1.98 2.04 2.12 2.19 2.19
Bank Lending Rate (%) 3.70 3.7 3.95 4.2 4.2 4.45


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Latvia Forecast - was last updated on Monday, May 23, 2022.