The Latvian economy advanced 1.8 percent on quarter in the three months to September of 2018, the most since the fourth quarter of 2016 and compared to an upwardly revised 1.2 percent rise in the previous period, a preliminary estimate showed. Main drivers of growth were construction (10%), retail trade (2%) and industry (1%). Year-on-year, the gross domestic product expanded 4.8 percent in the third quarter of 2018, following a 5.3 percent advance in the previous period. GDP Growth Rate in Latvia averaged 0.99 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.

Latvia GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
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 1.8% 1.2% 0.8%
2018-11-30 11:00 AM GDP Growth Rate QoQ Final 1.2% 1.8%


Latvia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.80 1.20 5.20 -6.30 percent [+]
GDP Annual Growth Rate 4.80 5.30 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.80 1.20 5.20 -6.30 1995 - 2018 percent Quarterly




Country Last
Singapore 4.70 Sep/18
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Australia 0.90 Jun/18
Mexico 0.90 Sep/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Canada 0.70 Jun/18
Switzerland 0.70 Jun/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
France 0.40 Sep/18
Brazil 0.20 Jun/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Italy 0.00 Sep/18
Saudi Arabia -0.05 Mar/18
Germany -0.20 Sep/18
Japan -0.30 Sep/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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