Latvia's GDP expanded 2.8 percent year-on-year in the first quarter of 2019, slowing from a 5.1 percent advance in the prior quarter, preliminary estimates showed. It was the weakest growth rate since the third quarter of 2016. Positive contributions came from construction and services. On a quarterly basis, the latvian economy shrank by 0.3 percent on quarter in the first three months of 2019, after a downwardly revised 0.9 percent growth in the previous period. GDP Annual Growth Rate in Latvia averaged 4.20 percent from 1996 until 2018, reaching an all time high of 13.90 percent in the first quarter of 2007 and a record low of -16.20 percent in the third quarter of 2009.

GDP Annual Growth Rate in Latvia is expected to be 2.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Latvia to stand at 2.50 in 12 months time. In the long-term, the Latvia GDP Annual Growth Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.

Latvia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-30 11:00 AM GDP Growth Rate YoY Final 4.7% 5.3% 4.8% 4.8%
2019-01-30 11:00 AM GDP Growth Rate YoY Flash 5% 4.8% 2.7%
2019-02-28 11:00 AM GDP Growth Rate YoY Final 5.1% 4.5% 5%
2019-04-30 10:00 AM GDP Growth Rate YoY Flash 2.8% 5.1% 3.1%
2019-05-31 10:00 AM GDP Growth Rate YoY Final 5.1% 2.8%
2019-07-30 10:00 AM GDP Growth Rate YoY Flash 2.9%
2019-08-30 10:00 AM GDP Growth Rate YoY Final 2.9%


Latvia GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.30 0.90 6.40 -6.10 percent [+]
GDP Annual Growth Rate 2.80 5.10 13.90 -16.20 percent [+]
GDP 30.26 27.57 35.60 4.50 USD Billion [+]
GDP Constant Prices 6434145.00 6201534.00 6434145.00 2207929.00 EUR Thousand [+]
Gross National Product 7961.00 7746.00 7961.00 945.00 EUR Million [+]
Gross Fixed Capital Formation 2088775.00 1872665.00 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 165923.00 255469.00 287649.00 75089.00 EUR Thousand [+]
GDP From Construction 471337.00 461713.00 631870.00 92342.00 EUR Thousand [+]
GDP From Manufacturing 702591.00 679951.00 711150.00 333666.00 EUR Thousand [+]
GDP From Mining 205889.00 171154.00 253926.00 96547.00 EUR Thousand [+]
GDP From Public Administration 475098.00 331065.00 559872.00 182541.00 EUR Thousand [+]
GDP From Services 879201.00 913275.00 913275.00 181772.00 EUR Thousand [+]
GDP From Transport 592774.00 641059.00 641059.00 228683.00 EUR Thousand [+]


Latvia GDP Annual Growth Rate

In Latvia, 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. This page provides - Latvia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.80 5.10 13.90 -16.20 1996 - 2019 percent Quarterly
NSA




Country Last Previous
India 6.60 Dec/18
China 6.40 Mar/19
Indonesia 5.07 Mar/19
Saudi Arabia 3.60 Dec/18
United States 3.20 Mar/19
Spain 2.40 Mar/19
Australia 2.30 Dec/18
South Korea 1.80 Mar/19
United Kingdom 1.80 Mar/19
Netherlands 1.70 Mar/19
Canada 1.60 Dec/18
Switzerland 1.40 Dec/18
Euro Area 1.20 Mar/19
Mexico 1.20 Mar/19
Singapore 1.20 Mar/19
Brazil 1.10 Dec/18
France 1.10 Mar/19
South Africa 1.10 Dec/18
Japan 0.80 Mar/19
Germany 0.70 Mar/19
Russia 0.50 Mar/19
Italy 0.10 Mar/19
Turkey -3.00 Dec/18
Argentina -6.20 Dec/18


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