The Latvian economy advanced 2.0 percent year-on-year in the second quarter of 2019, after a 3.0 percent rise in the previous quarter and downwardly revised from the initial estimate of 2.1 percent. Regarding the production side, the expansion was driven by increases in trade (3.8 percent); manufacturing (0.4 percent) and real estate activities (4.5 percent). On the expenditure approach, main drivers of growth were household consumption (3.5 percent) and gross fixed capital formation (21.7 percent). Regarding foreign net trade, exports of goods and services advanced 1.9 percent while imports increased at a faster 7.0 percent. On a seasonally adjusted basis, the GDP expanded 0.7 percent, also downwardly revised from the initial estimate of 0.8 percent and compared to a 0.1 percent contraction in the previous quarter. . GDP Annual Growth Rate in Latvia averaged 4.16 percent from 1996 until 2019, 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 2.50 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 2.70 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
2019-04-30 10:00 AM GDP Growth Rate YoY Flash Q1 2.8% 5.1% 3.1%
2019-05-31 10:00 AM GDP Growth Rate YoY Final Q1 3% 5.1% 2.8%
2019-07-30 10:00 AM GDP Growth Rate YoY Flash Q2 2.1% 3% 2.1% 2.9%
2019-08-30 10:00 AM GDP Growth Rate YoY Final Q2 2.0% 3% 2.1% 2.1%
2019-10-30 11:00 AM GDP Growth Rate YoY Flash Q3 2% 2.5%
2019-11-29 11:00 AM GDP Growth Rate YoY Final Q3 2% 2.5%


Latvia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 -0.10 6.40 -6.10 percent [+]
GDP Annual Growth Rate 2.00 3.00 13.90 -16.20 percent [+]
GDP 34.85 30.46 35.60 4.50 USD Billion [+]
GDP Constant Prices 6122163.00 5380515.00 6434145.00 2207929.00 EUR Thousand [+]
Gross National Product 7624.00 7000.00 7823.00 946.00 EUR Million [+]
Gross Fixed Capital Formation 1682566.00 1302986.00 2402613.00 95826.00 EUR Thousand [+]
GDP per capita 16405.70 15532.20 16405.70 5140.53 USD [+]
GDP per capita PPP 26437.43 25029.79 26437.43 7796.00 USD [+]
GDP From Agriculture 289563.00 163881.00 289563.00 75144.00 EUR Thousand [+]
GDP From Construction 364249.00 231614.00 631870.00 92913.00 EUR Thousand [+]
GDP From Manufacturing 713995.00 602035.00 713995.00 333749.00 EUR Thousand [+]
GDP From Mining 168440.00 215398.00 253926.00 96547.00 EUR Thousand [+]
GDP From Public Administration 346178.00 265080.00 559872.00 182541.00 EUR Thousand [+]
GDP From Services 846578.00 729173.00 913275.00 181772.00 EUR Thousand [+]
GDP From Transport 545072.00 569936.00 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 October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.00 3.00 13.90 -16.20 1996 - 2019 percent Quarterly
NSA




Country Last Previous
China 6.20 Jun/19
Indonesia 5.05 Jun/19
India 5.00 Jun/19
United States 2.30 Jun/19
South Korea 2.00 Jun/19
Spain 2.00 Jun/19
Netherlands 1.80 Jun/19
Canada 1.60 Jun/19
Australia 1.40 Jun/19
France 1.40 Jun/19
United Kingdom 1.30 Jun/19
Euro Area 1.20 Jun/19
Brazil 1.00 Jun/19
Japan 1.00 Jun/19
Russia 0.90 Jun/19
South Africa 0.90 Jun/19
Argentina 0.60 Jun/19
Saudi Arabia 0.50 Jun/19
Germany 0.40 Jun/19
Switzerland 0.20 Jun/19
Singapore 0.10 Sep/19
Italy -0.10 Jun/19
Mexico -0.80 Jun/19
Turkey -1.50 Jun/19


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