The Latvian economy advanced 1.7 percent on quarter in the three months to September of 2018, downwardly revised from the initial estimate of 1.8 percent and compared to a 1.2 percent rise in the previous period. Main drivers of growth were real estate activities (7.6% vs -4.7% in Q2); transportation & storage (4.3% vs 3.2%) and mining & quarrying and utilities (3.3% vs -2.5%). Conversely, activity slowed markedly in financial & insurance (0.8% vs 27.1 percent) and declines were seen in wholesale & retail trade; repair of motor vehicles & motorcycles (-0.2% vs 0.2%); manufacturing (-0.2% vs 2.0%); construction (-0.4% vs 3.4%); accommodation & food service activities (-1.5% vs 1.8%) and agriculture, forestry & fishing (-0.2 percent, after showing no growth in Q2). Year-on-year, the GDP grew 4.7 percent in the third quarter of 2018, below a preliminary reading of 4.8 percent and following a 5.3 percent advanced in the previous quarter. GDP Growth Rate in Latvia averaged 0.99 percent from 1995 until 2018, reaching an all time high of 6.40 percent in the fourth quarter of 1996 and a record low of -6.10 percent in the second quarter of 2009.

GDP Growth Rate in Latvia is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Latvia to stand at 1.60 in 12 months time. In the long-term, the Latvia GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.

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 1.7% 1.2% 1.8%
2019-01-28 11:00 AM GDP Growth Rate QoQ Flash 1.7% 1.40%
2019-02-28 11:00 AM GDP Growth Rate QoQ Final 1.40%
2019-05-02 10:00 AM GDP Growth Rate QoQ Flash 1.50%


Latvia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.70 1.20 6.40 -6.10 percent [+]
GDP Annual Growth Rate 4.70 5.30 13.90 -16.20 percent [+]
GDP 30.26 27.57 35.60 4.50 USD Billion [+]
GDP Constant Prices 6208804.00 6003048.00 6208804.00 2207929.00 EUR Thousand [+]
Gross National Product 7746.00 7150.00 7746.00 945.00 EUR Million [+]
Gross Fixed Capital Formation 1876256.00 1580015.00 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 264587.00 266509.00 287649.00 75089.00 EUR Thousand [+]
GDP From Construction 461111.00 360231.00 631870.00 92342.00 EUR Thousand [+]
GDP From Manufacturing 679952.00 711150.00 711150.00 333666.00 EUR Thousand [+]
GDP From Mining 171175.00 171173.00 253926.00 96547.00 EUR Thousand [+]
GDP From Public Administration 331071.00 340379.00 559872.00 182541.00 EUR Thousand [+]
GDP From Services 911012.00 814949.00 911012.00 181772.00 EUR Thousand [+]
GDP From Transport 634176.00 554678.00 634176.00 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.70 1.20 6.40 -6.10 1995 - 2018 percent Quarterly




Country Last Previous
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
Singapore 3.00 Sep/18
South Africa 2.20 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Russia 0.90 Jun/18
Brazil 0.80 Sep/18
Mexico 0.80 Sep/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
Canada 0.50 Sep/18
France 0.40 Sep/18
Australia 0.30 Sep/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Saudi Arabia -0.05 Mar/18
Italy -0.10 Sep/18
Germany -0.20 Sep/18
Switzerland -0.20 Sep/18
Japan -0.60 Sep/18
Turkey -1.10 Sep/18
Argentina -4.00 Jun/18


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