Markets Actual Q4 Q1 Q2 Q3 2022
Currency 1.13 1.13 1.12 1.12 1.11 1.1
Stock Market (points) 1276.86 1245 1220 1196 1172 1127
Government Bond 10y (%) 0.55 0.55 0.55 0.55 0.55 0.55

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 0.60 1.3 1.2 0.9 1 1
GDP Annual Growth Rate (%) 5.10 3.5 3.8 2.9 4.7 6.5
Unemployment Rate (%) 7.20 7.7 7.6 7.5 7.5 7.4
Inflation Rate (%) 7.50 7.4 7.1 4.5 3.3 1.4
Inflation Rate Mom (%) 1.10 0.2 0.2 0.2 0.2 0.2
Interest Rate (%) 0.00 0 0 0 0 0.1
Balance of Trade (EUR Million) -188.70 -230 -90 -90 -90 -90
Current Account (EUR Million) -28.00 30 30 30 30 30
Current Account to GDP (% of GDP) 3.00 0.6 0.2 0.2 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 -2.1 -2.1 -2.1 -2.1
Business Confidence (points) 1.50 -2 -1 -1 -1 2
Consumer Confidence (points) -11.90 -14 -8 -8 -8 -10
Retail Sales MoM (%) -5.30 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 Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 0.60 1.3 1.2 0.9 1 1
GDP Annual Growth Rate (%) 5.10 3.5 3.8 2.9 4.7 6.5
GDP (USD Billion) 33.51 31 31 31 31 33.5
GDP Constant Prices (EUR Thousand) 7446904.00 7478338 6152424 7218153 7796908 7964430
Gross National Product (EUR Million) 8613.00 8482 6858 8027 9018 9033
Gross Fixed Capital Formation (EUR Thousand) 2278674.00 2129409 1323832 1811849 2385772 2267821
GDP per capita (USD) 15487.93 16100 16100 16100 16100 16700
GDP per capita PPP (USD) 29932.49 30300 30300 30300 30300 31000
GDP From Agriculture (EUR Thousand) 309023.00 179303 165931 286850 323547 190958
GDP From Construction (EUR Thousand) 472261.00 489562 244808 384663 494457 521384
GDP From Manufacturing (EUR Thousand) 870577.00 852845 725764 869938 911494 908280
GDP From Mining (EUR Thousand) 143624.00 180576 195871 158951 150374 192314
GDP From Public Administration (EUR Thousand) 457135.00 653857 373286 484431 478620 696358
GDP From Services (EUR Thousand) 1135766.00 1038235 793771 976025 1189147 1105721
GDP From Transport (EUR Thousand) 617325.00 499895 462119 512453 646339 532388

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 7.20 7.7 7.6 7.5 7.5 7.4
Wages (EUR/Month) 928.00 880 880 880 880 880
Minimum Wages (EUR/Month) 500.00 500 560 560 560 560
Population (Million) 1.91 1.87 1.87 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 Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 7.50 7.4 7.1 4.5 3.3 1.4
Inflation Rate Mom (%) 1.10 0.2 0.2 0.2 0.2 0.2
Consumer Price Index CPI (points) 116.40 116 118 117 118 118
Harmonised Consumer Prices (points) 114.78 114 114 114 114 114
Core Consumer Prices (points) 111.77 111 112 114 115 115
Core Inflation Rate (%) 2.60 3.1 3.5 3.4 3.2 3.1
Producer Prices (points) 128.00 132 124 128 133 137
Producer Prices Change (%) 22.40 25 13.7 9.1 5.4 4.3
CPI Housing Utilities (points) 119.00 112 112 111 118 113
CPI Transportation (points) 118.20 118 119 119 119 119
Food Inflation (%) 5.60 2.2 2 2 2 2.2

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 0.00 0 0 0 0 0.1
Interbank Rate (%) 0.17 0.17 0.17 0.17 0.17 0.27

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (EUR Million) -188.70 -230 -90 -90 -90 -90
Current Account (EUR Million) -28.00 30 30 30 30 30
Current Account to GDP (% of GDP) 3.00 0.6 0.2 0.2 0.2 0.2
Imports (EUR Million) 1802.88 1450 1450 1450 1450 1450
Exports (EUR Million) 1614.18 1360 1360 1360 1360 1360

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 43.50 45 45 45 45 47
Government Budget (% of GDP) -4.50 -7.2 -2.1 -2.1 -2.1 -2.1
Government Budget Value (EUR Million) -246404654.00 35777 35777 35777 35777 35777
Government Spending (EUR Thousand) 1230165.00 1530711 1179775 1448598 1287983 1630207
Government Spending to GDP (% of GDP) 43.60 41.8 41.8 41.8 41.8 39

Taxes Actual Q4 Q1 Q2 Q3 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 Q4 Q1 Q2 Q3 2022
Business Confidence (points) 1.50 -2 -1 -1 -1 2
Industrial Production (%) 2.40 9 8.1 3.5 2.2 2
Industrial Production Mom (%) -1.50 0.2 0.6 0.6 0.6 0.3

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) -11.90 -14 -8 -8 -8 -10
Retail Sales MoM (%) -5.30 0.5 0.5 0.5 0.5 0.5
Retail Sales YoY (%) -2.30 6.3 1.5 0.9 1.7 3.3
Consumer Spending (EUR Thousand) 4379369.00 3821121 3632884 3898268 4585199 4069493
Bank Lending Rate (%) 3.90 3.9 3.9 3.9 3.9 4
Gasoline Prices (USD/Liter) 1.70 1.62 1.53 1.46 1.38 1.31


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 Thursday, December 9, 2021.