The Gross Domestic Product (GDP) in Latvia stagnated 0 percent in the fourth quarter of 2022 over the previous quarter. source: Central Statistical Bureau of Latvia

GDP Growth Rate in Latvia averaged 0.87 percent from 1995 until 2022, reaching an all time high of 6.50 percent in the fourth quarter of 1996 and a record low of -7.20 percent in the second quarter of 2020. This page provides - Latvia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

GDP Growth Rate in Latvia is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Latvia GDP Growth Rate is projected to trend around 0.80 percent in 2024 and 0.70 percent in 2025, according to our econometric models.

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Latvia GDP Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2023-01-30 11:00 AM QoQ Flash Q4 0.3% -1.7% 0.1%
2023-02-28 11:00 AM QoQ Final Q4 0% -1.7% 0.3%
2023-04-27 10:00 AM QoQ Flash Q1 0.1%

Related Last Previous Unit Reference
GDP Growth Rate 0.00 -1.00 percent Dec 2022
GDP Annual Growth Rate 0.30 0.20 percent Dec 2022
GDP Constant Prices 7563644.00 7492666.00 EUR Thousand Dec 2022
Gross National Product 10770.00 10157.00 EUR Million Dec 2022
Gross Fixed Capital Formation 2501910.00 2484115.00 EUR Thousand Dec 2022
Full Year GDP Growth 4.40 -3.70 percent Dec 2021
GDP from Transport 545027.00 603715.00 EUR Thousand Dec 2022
GDP from Services 1008708.00 1064713.00 EUR Thousand Dec 2022
GDP from Public Administration 694458.00 481470.00 EUR Thousand Dec 2022
GDP from Mining 189304.00 151628.00 EUR Thousand Dec 2022
GDP from Manufacturing 907226.00 882612.00 EUR Thousand Dec 2022
GDP from Construction 330281.00 348099.00 EUR Thousand Dec 2022
GDP from Agriculture 196733.00 324801.00 EUR Thousand Dec 2022

Latvia GDP Growth Rate
Latvia's GDP growth in recent years has been mostly driven by expansion in consumption and credit. The main industries are: synthetic fibers, agricultural machinery, fertilizers, radios, electronics, pharmaceuticals, processed foods, textiles and timber. On the expenditure side, household consumption is the main component of GDP and accounts for 61 percent of its total use, followed by gross fixed capital formation (23 percent) and government expenditure (18 percent). Exports of goods and services account for 59 percent while imports account for 62 percent, subtracting 3 percent of total GDP. Latvia joined the Euro in 2014.
Actual Previous Highest Lowest Dates Unit Frequency
0.00 -1.00 6.50 -7.20 1995 - 2022 percent Quarterly