Markets Actual Q3 Q4 Q1 Q2 2023
Currency 0.97 0.96 0.94 0.93 0.92 0.89
Stock Market (points) 1086.41 1047 1009 972 936 869
Government Bond 10Y (%) 0.55 0.55 0.55 0.55 0.55 0.55

Overview Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) -1.00 -0.1 -0.2 1.1 1 0.6
GDP Annual Growth Rate (%) 2.90 0.7 1.5 0.5 2.3 4.6
Unemployment Rate (%) 6.60 7.5 7.4 7.4 7.4 6.2
Inflation Rate (%) 21.50 19.3 14.4 10.5 7 4
Inflation Rate MoM (%) 0.40 3.5 0.2 0.2 0.2 0.2
Interest Rate (%) 1.25 1.25 1.75 2 2 2
Balance of Trade (EUR Million) -641.90 -90 -90 -90 -90 -90
Current Account (EUR Million) -217.00 -120 -40 -20 50 30
Current Account to GDP (% of GDP) -2.90 0.2 0.2 0.2 0.2 -0.8
Government Debt to GDP (% of GDP) 44.80 45 47 47 47 47
Government Budget (% of GDP) -7.30 -7.1 -7.1 -3.1 -3.1 -3.1
Business Confidence (points) -0.20 -1 2 2 2 3
Consumer Confidence (points) -30.60 -25 -25 -15 -10 -10
Retail Sales MoM (%) -0.40 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 Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) -1.00 -0.1 -0.2 1.1 1 0.6
GDP Annual Growth Rate (%) 2.90 0.7 1.5 0.5 2.3 4.6
GDP (USD Billion) 38.87 31 33.5 33.5 33.5 33.5
GDP Constant Prices (EUR Thousand) 7214555.00 7481115 7615565 6336227 7380490 7965881
Gross National Product (EUR Million) 9331.00 8673 9225 7924 9546 9650
Gross Fixed Capital Formation (EUR Thousand) 2133184.00 2291881 2361957 1486073 2182247 2470607
GDP per Capita (USD) 16406.23 16100 16700 16700 16700 16700
GDP per Capita PPP (USD) 31688.53 30300 31000 31000 31000 31000
GDP from Agriculture (EUR Thousand) 285715.00 301486 182035 159184 292286 190409
GDP from Construction (EUR Thousand) 310430.00 467505 414652 201812 317570 433726
GDP from Manufacturing (EUR Thousand) 907682.00 875309 888246 768214 928559 929105
GDP from Mining (EUR Thousand) 143311.00 144754 179948 174440 146607 188226
GDP from Public Administration (EUR Thousand) 489047.00 460340 676776 369510 500295 707907
GDP from Services (EUR Thousand) 898777.00 1148073 1106963 840441 919449 1157883
GDP from Transport (EUR Thousand) 540769.00 618529 597650 456824 553207 625142

Labour Actual Q3 Q4 Q1 Q2 2023
Unemployment Rate (%) 6.60 7.5 7.4 7.4 7.4 6.2
Wages (EUR/Month) 1012.00 880 880 880 880 880
Minimum Wages (EUR/Month) 500.00 560 560 560 560 620
Population (Million) 1.89 1.87 1.85 1.85 1.85 1.85
Retirement Age Women 64.00 64 64.25 64.25 64.25 64.25
Retirement Age Men 64.00 64 64.25 64.25 64.25 64.25

Prices Actual Q3 Q4 Q1 Q2 2023
Inflation Rate (%) 21.50 19.3 14.4 10.5 7 4
Inflation Rate MoM (%) 0.40 3.5 0.2 0.2 0.2 0.2
Consumer Price Index CPI (points) 137.00 136 134 136 143 139
Harmonised Consumer Prices (points) 136.51 114 114 114 114 114
Core Consumer Prices (points) 119.41 115 115 118 123 117
Core Inflation Rate (%) 8.20 3.2 3.1 3.1 3.1 1.4
Producer Prices (points) 166.10 173 182 174 176 203
Producer Prices Change (%) 35.00 36.5 38 25 15 12
Export Prices (points) 145.90 140 130 125 125 120
Import Prices (points) 127.00 115 110 105 105 100
Food Inflation (%) 25.70 22 18.2 15 10 4.2
CPI Housing Utilities (points) 168.70 136 138 133 158 144
CPI Transportation (points) 137.10 142 142 142 143 143

Money Actual Q3 Q4 Q1 Q2 2023
Interest Rate (%) 1.25 1.25 1.75 2 2 2
Interbank Rate (%) 0.17 0.17 0.67 0.92 0.92 0.92

Trade Actual Q3 Q4 Q1 Q2 2023
Balance of Trade (EUR Million) -641.90 -90 -90 -90 -90 -90
Current Account (EUR Million) -217.00 -120 -40 -20 50 30
Current Account to GDP (% of GDP) -2.90 0.2 0.2 0.2 0.2 -0.8
Imports (EUR Million) 2237.31 1450 1450 1450 1450 1450
Exports (EUR Million) 1595.38 1360 1360 1360 1360 1360
Foreign Direct Investment (EUR Million) -31.00 87.15 84.8 84.23 100 84.57

Government Actual Q3 Q4 Q1 Q2 2023
Government Debt to GDP (% of GDP) 44.80 45 47 47 47 47
Government Budget (% of GDP) -7.30 -7.1 -7.1 -3.1 -3.1 -3.1
Government Budget Value (EUR Million) 79584039.00 35777 35777 35777 35777 35777
Government Spending (EUR Thousand) 1471408.00 1238791 1579801 1166984 1505250 1652472
Government Spending to GDP (% of GDP) 44.90 41.8 39 39 39 39

Taxes Actual Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2023
Business Confidence (points) -0.20 -1 2 2 2 3
Industrial Production (%) -2.90 3.5 2 2 2 2
Industrial Production Mom (%) -1.20 0.6 0.3 0.3 0.3 0.2

Consumer Actual Q3 Q4 Q1 Q2 2023
Consumer Confidence (points) -30.60 -25 -25 -15 -10 -10
Retail Sales MoM (%) -0.40 0.5 0.5 0.5 0.5 0.5
Retail Sales YoY (%) 0.50 -1.2 -3.5 -7.1 1.7 3.3
Consumer Spending (EUR Thousand) 4101206.00 4398932 3981254 4058936 4195534 4164392
Gasoline Prices (USD/Liter) 1.78 1.85 1.92 1.99 2.07 2.07
Bank Lending Rate (%) 3.31 4.06 4.56 4.81 4.81 4.81


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 Sunday, September 25, 2022.