Latvia’s economy expanded by 6.7 percent year-on-year in the first quarter of 2022, above a preliminary estimate of 5.9 percent and faster than a downwardly revised 3.1 percent growth in the previous period. It was the fourth consecutive quarter of growth. On a seasonally adjusted quarterly basis, the GDP advanced by 3.6 percent, above an earlier reading of 2.1 percent, recovering significantly from an upwardly revised 0.2 percent decrease in the previous quarter. source: Central Statistical Bureau of Latvia

GDP Annual Growth Rate in Latvia averaged 3.82 percent from 1996 until 2022, reaching an all time high of 15.10 percent in the first quarter of 2007 and a record low of -15.60 percent in the third quarter of 2009. This page provides - Latvia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.

GDP Annual Growth Rate in Latvia is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Latvia GDP Annual Growth Rate is projected to trend around 4.60 percent in 2023 and 3.70 percent in 2024, according to our econometric models.

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Latvia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-04-28 10:00 AM YoY Flash Q1 5.9% 3.5% 3.8%
2022-05-31 10:00 AM YoY Final Q1 6.7% 3.1% 5.9%
2022-07-28 10:00 AM YoY Flash Q2 6.7% 1.9%


Related Last Previous Unit Reference
GDP Growth Rate 3.60 -0.20 percent Mar 2022
GDP Annual Growth Rate 6.70 3.10 percent Mar 2022
GDP Constant Prices 6304703.00 7503020.00 EUR Thousand Mar 2022
Gross National Product 7885.00 9089.00 EUR Million Mar 2022
Gross Fixed Capital Formation 1478680.00 2327051.00 EUR Thousand Mar 2022
Full Year GDP Growth -3.60 2.50 percent Dec 2020
GDP From Transport 454551.00 588818.00 EUR Thousand Mar 2022
GDP From Services 836260.00 1090604.00 EUR Thousand Mar 2022
GDP From Public Administration 367672.00 666774.00 EUR Thousand Mar 2022
GDP From Mining 173572.00 177289.00 EUR Thousand Mar 2022
GDP From Manufacturing 768825.00 880529.00 EUR Thousand Mar 2022
GDP From Construction 200808.00 408524.00 EUR Thousand Mar 2022
GDP From Agriculture 160367.00 182078.00 EUR Thousand Mar 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
6.70 3.10 15.10 -15.60 1996 - 2022 percent Quarterly
NSA

News Stream
Latvia Q1 GDP Growth Revised Higher to 6.7%
Latvia’s economy expanded by 6.7 percent year-on-year in the first quarter of 2022, above a preliminary estimate of 5.9 percent and faster than a downwardly revised 3.1 percent growth in the previous period. It was the fourth consecutive quarter of growth. On a seasonally adjusted quarterly basis, the GDP advanced by 3.6 percent, above an earlier reading of 2.1 percent, recovering significantly from an upwardly revised 0.2 percent decrease in the previous quarter.
2022-05-31
Latvia Q4 GDP Growth Revised Slightly Higher to 3.5%
Latvia’s economy expanded by 3.5 percent year-on-year in the fourth quarter of 2021, slightly faster than a preliminary estimate of 3.4 percent and following a downwardly revised 5 percent growth in the previous period. It was the fourth consecutive quarter of growth. On a seasonally adjusted quarterly basis, the GDP shrank 0.1 percent, matching an earlier estimate, compared with a downwardly revised 0.5 percent rise in the previous quarter. Considering 2021 as a whole, the economy grew by 4.8 percent.
2022-02-28
Latvia GDP Grows at a Slower 3.4% in Q4
Latvia’s economy increased by 3.4 percent year-on-year in the fourth quarter of 2021, compared to a 5.1 percent expansion in the previous quarter, early estimates showed. The GDP slowdown was mainly due to a 1.4 percent decline in production sectors while services rose 6.7 percent. On a seasonally adjusted quarterly basis, the economy shrank 0.1 percent over the previous three months. In 2021, the GDP grew 4.7 percent.
2022-01-28