Latvia GDP Growth Rate 1995-2018 | Data | Chart | Calendar | Forecast

The Latvian gross domestic product expanded by 0.9 percent on quarter in the three months to June of 2018, slightly above an earlier estimate of 0.8 percent, but lower than a 1.5 percent growth in the previous period. Output rose less in construction (6.0% vs 9.7% in Q1) and public administration and defence; compulsory social security (0.7% vs 0.8%); and fell for real estate activities (-4.6% vs 5.6%) and agriculture, forestry and fishing (-0.1% vs 2.5%). Furthermore, no growth was recorded for mining & quarrying; utilities (vs 0.5% in Q1). In contrast, important recoveries were seen in: finance and insurance activities (33.3% vs -18.8%); manufacturing (2.6% vs -0.9%) and wholesale and retail trade; repair of motor vehicles and motorcycles (1.6% vs -18.8%). Year-on-year, the economy advanced 5.3 percent, compared to a preliminary reading of 5.1 percent and above a 4.0 percent rise in the first quarter. It was the strongest expansion since the third quarter of 2017. GDP Growth Rate in Latvia averaged 0.97 percent from 1995 until 2018, reaching an all time high of 5.20 percent in the second quarter of 2001 and a record low of -6.30 percent in the second quarter of 2009.

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Calendar	GMT		Actual	Previous	Consensus	TEForecast
2018-05-31	10:00 AM	GDP Growth Rate QoQ Final	1.6%	0.4%	1.7%	1.7%
2018-07-30	10:00 AM	GDP Growth Rate QoQ Flash	0.8%	1.5%		0.8%
2018-08-31	10:00 AM	GDP Growth Rate QoQ Final	0.9%	1.5%		0.8%
2018-10-30	11:00 AM	GDP Growth Rate QoQ Flash		0.9%		0.8%
2018-11-30	11:00 AM	GDP Growth Rate QoQ Final

Latvia GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	0.90	1.50	5.20	-6.30	percent	[+]
GDP Annual Growth Rate	5.30	4.00	13.90	-16.20	percent	[+]
GDP	30.26	27.57	35.60	4.50	USD Billion	[+]
GDP Constant Prices	5997093.00	5211952.00	6180093.00	2207929.00	EUR Thousand	[+]
Gross National Product	7150.00	6537.00	7150.00	945.00	EUR Million	[+]
Gross Fixed Capital Formation	1486248.00	1103106.00	2402613.00	95826.00	EUR Thousand	[+]
GDP per capita	15553.33	14733.84	15553.33	5140.53	USD	[+]
GDP per capita PPP	25063.85	23743.26	25063.85	7796.00	USD	[+]
Gdp From Agriculture	286036.00	180654.00	287649.00	75089.00	EUR Thousand	[+]
Gdp From Construction	346543.00	207224.00	631870.00	92342.00	EUR Thousand	[+]
Gdp From Manufacturing	730513.00	589203.00	730513.00	333666.00	EUR Thousand	[+]
Gdp From Mining	166872.00	232153.00	253926.00	96547.00	EUR Thousand	[+]
Gdp From Public Administration	335009.00	253995.00	559872.00	182541.00	EUR Thousand	[+]
Gdp From Services	817915.00	695256.00	909319.00	181772.00	EUR Thousand	[+]
Gdp From Transport	519403.00	530927.00	592489.00	228683.00	EUR Thousand	[+]

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. This page provides - Latvia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on October of 2018.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	0.90	1.50	5.20	-6.30	1995 - 2018	percent	Quarterly

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GDP growth rate by Country

Country	Last		Previous	Highest	Lowest
Singapore	4.70	Sep/18	1.2	36.6	-13.5	%	Quarterly
Indonesia	4.21	Jun/18	-0.41	4.21	-3.57	%	Quarterly
United States	4.20	Jun/18	2.2	16.7	-10	%	Quarterly
India	1.90	Jun/18	2	5.4	-1.7	%	Quarterly
China	1.80	Jun/18	1.4	2.4	1.3	%	Quarterly
Australia	0.90	Jun/18	1.1	4.4	-2	%	Quarterly
Russia	0.90	Jun/18	0.4	4.1	-5.4	%	Quarterly
Turkey	0.90	Jun/18	1.5	5.6	-5.2	%	Quarterly
Netherlands	0.80	Jun/18	0.6	1.7	-3.6	%	Quarterly
Canada	0.70	Jun/18	0.4	3.1	-2.3	%	Quarterly
Japan	0.70	Jun/18	-0.2	3.2	-4.9	%	Quarterly
Switzerland	0.70	Jun/18	1	2.4	-1.9	%	Quarterly
South Korea	0.60	Jun/18	1	7.8	-7	%	Quarterly
Spain	0.60	Jun/18	0.6	1.6	-1.6	%	Quarterly
Germany	0.50	Jun/18	0.4	4	-4.5	%	Quarterly
Euro Area	0.40	Jun/18	0.4	1.3	-3	%	Quarterly
United Kingdom	0.40	Jun/18	0.1	5	-2.7	%	Quarterly
Brazil	0.20	Jun/18	0.1	3.9	-3.9	%	Quarterly
France	0.20	Jun/18	0.2	8	-5.3	%	Quarterly
Italy	0.20	Jun/18	0.3	6	-2.8	%	Quarterly
Saudi Arabia	-0.05	Mar/18	0.05	8.5	-2.1	%	Quarterly
Mexico	-0.20	Jun/18	1	3.2	-5.7	%	Quarterly
South Africa	-0.70	Jun/18	-2.6	7.6	-6.1	%	Quarterly
Argentina	-4.00	Jun/18	0.7	5	-5.7	%	Quarterly