Latvia GDP Growth Rate  1995-2017 | Data | Chart | Calendar | Forecast

The Latvian economy advanced 1.6 percent on the quarter in the first three months of 2017, compared to a 1.2 percent expansion in the previous period and better than a preliminary estimate of 1.5 percent rise. It is the strongest growth rate since third quarter of 2011. Year-on-year, the GDP grew 4 percent, accelerating from a 2.6 percent increase in the previous period and better than preliminary estimates of 3.9 percent growth. Household spending rose further (5.5 percent vs 3.2 percent in Q4) and fixed investment rebounded (8.8 percent vs -5.9 percent in Q4). Exports jumped (8.3 percent vs 4.6 percent in Q4) and imports went up at a slower pace (5.3 percent vs 4.8 percent). Meanwhile, government spending eased (3.5 percent vs 4.5 percent in Q4). GDP Growth Rate in Latvia averaged 0.96 percent from 1995 until 2017, reaching an all time high of 5.20 percent in the second quarter of 2001 and a record low of -6.20 percent in the second quarter of 2009.

Latvia GDP Growth Rate
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Calendar GMT Actual Previous Consensus Forecast (i)
2017-02-28 11:00 AM Q4 1.1% 0.3% 0.8% 0.8%
2017-05-03 10:00 AM Q1 1.5% 1.2% 0.7%
2017-05-31 10:00 AM Q1 1.6% 1.2% 1.5% 1.5%
2017-07-31 10:00 AM Q2 1.6% 0.6%
2017-08-31 10:00 AM Q2 1.6% 0.6%
2017-10-30 10:00 AM Q3 0.8%




Latvia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.60 1.20 5.20 -6.20 percent [+]
GDP Annual Growth Rate 4.00 2.60 14.10 -16.10 percent [+]
GDP 27.00 31.32 35.60 4.50 USD Billion [+]
GDP Constant Prices 5018214.00 5879561.00 6162735.00 2201093.00 EUR Thousand [+]
Gross National Product 6125.00 6789.00 6789.00 945.00 EUR Million [+]
Gross Fixed Capital Formation 846592.00 1478256.00 2402613.00 95826.00 EUR Thousand [+]
GDP per capita 14327.90 13832.28 14327.90 5134.62 USD [+]
GDP per capita PPP 23080.00 22282.00 23080.00 7796.00 USD [+]
Gdp From Agriculture 156617.00 158566.00 260541.00 75089.00 EUR Thousand [+]
Gdp From Construction 153707.00 310614.00 631870.00 92342.00 EUR Thousand [+]
Gdp From Manufacturing 595106.00 678026.00 695458.00 333666.00 EUR Thousand [+]
Gdp From Mining 253352.00 238286.00 263523.00 96547.00 EUR Thousand [+]
Gdp From Public Administration 249171.00 448097.00 559872.00 182541.00 EUR Thousand [+]
Gdp From Services 654013.00 767415.00 851941.00 181772.00 EUR Thousand [+]
Gdp From Transport 572685.00 541525.00 592489.00 228683.00 EUR Thousand [+]


Latvia GDP Growth Rate Notes

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 June of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.60 1.20 5.20 -6.20 1995 - 2017 percent Quarterly



gdp growth rate by Country

Last
India 1.50 Mar/17
Turkey 1.40 Mar/17
China 1.30 Mar/17
United States 1.20 Mar/17
South Korea 1.10 Mar/17
Brazil 1.00 Mar/17
Canada 0.90 Mar/17
Spain 0.80 Mar/17
Mexico 0.70 Mar/17
Euro Area 0.60 Mar/17
Germany 0.60 Mar/17
France 0.50 Mar/17
Italy 0.40 Mar/17
Netherlands 0.40 Mar/17
Australia 0.30 Mar/17
Japan 0.30 Mar/17
Switzerland 0.30 Mar/17
United Kingdom 0.20 Mar/17
Indonesia -0.34 Mar/17
Russia -0.57 Sep/15