Latvia | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 0.80 0.7 0.6 0.8 1 0.4 percent [+]
Unemployment Rate 9.30 10.1 9.9 9.4 9.6 8.7 percent [+]
Inflation Rate 2.90 2.1 2 2.3 2.4 2.8 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade -240.10 -192 -179 -183 -184 -184 EUR Million [+]
Government Debt to GDP 36.40 38.92 37.38 35.84 34.3 34.5 percent [+]
MARKETS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Currency 1.06 1.04 1.03 1.02 1.01 0.84 [+]
Stock Market 740.50 733 726 718 703 592 points [+]
Government Bond 10y 0.55 0.56 0.56 0.57 0.57 0.66 percent [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 0.80 0.7 0.6 0.8 1 0.4 percent [+]
GDP Annual Growth Rate 2.10 1.2 1.5 2 2.2 3 percent [+]
GDP 27.00 30.08 32.43 25.98 36.65 48.65 USD Billion [+]
GDP Constant Prices 5612642.00 5647864 5658958 5706635 5734014 6152067 EUR Thousand [+]
Gross National Product 6406.00 6048 6293 6474 6741 7392 EUR Million [+]
Gross Fixed Capital Formation 1189740.00 445971 527327 676716 625190 -601882 EUR Thousand [+]
GDP per capita 14321.26 14424 14512 14599 14686 16636 USD [+]
GDP per capita PPP 22759.12 22948 23080 23213 23345 25541 USD [+]
Gdp From Agriculture 249821.00 80459 116910 111217 105849 60177 EUR Thousand [+]
Gdp From Construction 323698.00 262727 262940 262982 262990 262992 EUR Thousand [+]
Gdp From Manufacturing 675139.00 592879 710839 694501 665062 669229 EUR Thousand [+]
Gdp From Mining 156310.00 229124 178441 169199 214504 211284 EUR Thousand [+]
Gdp From Public Administration 308534.00 246758 322630 299995 416968 405002 EUR Thousand [+]
Gdp From Services 846529.00 703742 703671 703657 703655 703654 EUR Thousand [+]
Gdp From Transport 553694.00 503542 528853 528261 528198 525957 EUR Thousand [+]
LABOUR Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 9.30 10.1 9.9 9.4 9.6 8.7 percent [+]
Employed Persons 890.00 886 890 888 885 882 Thousand [+]
Unemployed Persons 80016.00 82541 84065 84572 84737 84818 [+]
Long Term Unemployment Rate 4.00 3.72 3.57 3.58 3.49 3.19 percent [+]
Youth Unemployment Rate 18.30 15.92 16.5 16.14 16.35 16.27 percent [+]
Labour Costs 125.13 124 124 124 124 124 Index Points [+]
Job Vacancies 13747.00 23423 26339 28550 28361 24051 [+]
Wages 615.00 622 622 620 670 677 EUR/Month [+]
Minimum Wages 380.00 370 370 372 380 410 EUR/Month [+]
Population 1.97 1.97 1.96 1.96 1.95 1.91 Million [+]
Retirement Age Women 62.80 62.86 62.86 62.86 62.86 63.25 [+]
Retirement Age Men 62.80 62.41 62.41 62.41 62.41 61.97 [+]
Employment Change -1.50 -0.37 -0.23 -0.15 -0.1 -0.02 percent [+]
Employment Rate 61.70 61.75 61.97 62 61.96 62.12 percent [+]
Full Time Employment 789.20 780 785 780 776 772 Thousand [+]
Part Time Employment 73.00 71.26 71.29 72.39 71.84 71.93 Thousand [+]
Productivity 122.70 106 115 120 124 122 Index Points [+]
Labor Force Participation Rate 68.00 68.11 68.19 68.18 68.14 68.16 percent [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate 2.90 2.1 2 2.3 2.4 2.8 percent [+]
Inflation Rate Mom 0.10 0.36 0.21 0.28 0.21 0.22 percent [+]
Harmonised Consumer Prices 101.45 102 102 102 102 102 Index Points [+]
Consumer Price Index CPI 101.70 102 101 101 101 99.45 Index Points [+]
Core Consumer Prices 101.66 102 102 102 102 103 Index Points [+]
Core Inflation Rate 1.40 1.43 1.4 1.38 1.37 1.34 percent [+]
GDP Deflator 1.15 1.14 1.14 1.14 1.13 1.14 percent [+]
Producer Prices 111.40 112 113 114 116 129 Index Points [+]
Producer Prices Change 0.00 -0.2 0.5 0.9 1.3 2.2 percent [+]
Export Prices 114.60 115 116 116 116 116 Index Points [+]
Import Prices 112.00 113 113 113 114 114 Index Points [+]
Food Inflation 6.80 8.13 9.66 10.45 10.87 11.35 percent [+]
Cpi Transportation 101.30 101 101 101 101 101 Index Points [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Interbank Rate 0.17 0.17 0.17 0.17 0.17 0.17 percent [+]
Money Supply M0 8109.50 8145 8130 8126 8126 8126 EUR Million [+]
Money Supply M1 10158.50 10584 10897 11220 11553 16423 EUR Million [+]
Money Supply M2 12307.80 12271 12410 12548 12684 14167 EUR Million [+]
Foreign Exchange Reserves 3305.95 3298 3277 3289 3285 3286 USD Million [+]
Banks Balance Sheet 29428.10 29345 29234 29238 29227 29227 EUR Million [+]
Central Bank Balance Sheet 14771.70 14797 14793 14793 14793 14793 EUR Million [+]
Loans To Private Sector 5692.90 5770 5798 5821 5840 5930 EUR Million [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -240.10 -192 -179 -183 -184 -184 EUR Million [+]
Exports 884.46 906 906 905 912 908 EUR Million [+]
Imports 1124.55 1121 1119 1114 1115 1116 EUR Million [+]
Current Account 99.10 86.48 91.73 96.72 98.94 102 EUR Million [+]
Current Account to GDP -1.90 -2.1 -2.1 -3.13 -3.23 -0.7 percent [+]
External Debt 36865.71 40288 41015 41698 42335 47420 EUR Million [+]
Capital Flows 48130.00 172351 126075 135167 149608 141655 EUR THO [+]
Gold Reserves 6.62 6.62 6.62 6.62 6.62 6.62 Tonnes [+]
Foreign Direct Investment 36.11 46.7 45.22 45.77 45.63 45.65 EUR Million [+]
Terrorism Index 0.00 0 0 0 0 0 [+]
GOVERNMENT Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Government Debt to GDP 36.40 38.92 37.38 35.84 34.3 34.5 percent [+]
Government Budget -1.30 -1.2 -1.2 -0.83 -0.9 0.2 percent of GDP [+]
Government Budget Value 121820.00 -52288 -31005 -14726 -10581 -9679 EUR Million [+]
Government Spending 849361.00 849563 1015744 849764 1015543 1014347 EUR Thousand [+]
Government Spending to GDP 37.20 38.18 37.76 37.34 36.92 37.14 percent [+]
Government Revenues 844082.00 802601 824249 819589 820524 820372 EUR Thousand [+]
Government Debt 9349.90 10030 10138 10201 10247 10415 EUR Million [+]
Fiscal Expenditure 722262.00 786575 842385 830442 834452 833534 EUR Thousand [+]
Asylum Applications 60.00 52.79 58.3 53.35 57.21 55.61 persons [+]
Military Expenditure 340.50 334 345 357 358 352 USD Million [+]
BUSINESS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Business Confidence 0.30 0.62 -1.42 -1.02 -0.93 -1.01 [+]
Industrial Production 11.50 2.2 2.2 11.17 1.5 1 percent [+]
Industrial Production Mom 0.20 2.5 2.5 0.34 0.7 0.6 percent [+]
Manufacturing Production 11.70 11.57 11.86 11.76 11.8 11.79 percent [+]
Capacity Utilization 74.50 72.73 74.24 74.62 74.51 74.34 percent [+]
Car Registrations 3849.00 3599 3998 3559 3668 3401 Cars [+]
Changes In Inventories -18114.00 195217 184721 -579 -65630 29076 EUR Thousand [+]
Competitiveness Index 4.45 4.42 4.42 4.42 4.42 4.45 Points [+]
Competitiveness Rank 49.00 44 44 44 46 49 [+]
Ease of Doing Business 14.00 17.09 16.53 15.97 15.41 17.83 [+]
Electricity Production 748.00 439 432 508 488 483 Gigawatt-hour [+]
Corruption Index 55.00 58.05 58.69 59.32 59.96 71.15 Points [+]
Corruption Rank 44.00 40.83 40.48 40.13 39.79 36.1 [+]
Mining Production 16.80 8.96 7.01 6.52 6.38 6.31 percent [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Consumer Confidence -16.40 -14.92 -15.85 -15.65 -15.69 -15.68 [+]
Retail Sales MoM 2.40 0.71 0.45 0.4 0.42 0.42 percent [+]
Retail Sales YoY 3.70 4.08 4.41 4.68 4.81 4.96 percent [+]
Consumer Spending 3685112.00 3308512 3627121 3723138 3463918 3518797 EUR Thousand [+]
Personal Savings -2.19 -1.47 -2.41 -3.36 -4.3 -3.51 percent [+]
Consumer Credit 487.30 492 495 497 499 515 EUR Million [+]
Bank Lending Rate 4.05 3.91 3.91 3.91 3.91 3.91 percent [+]
Economic Optimism Index 104.90 105 105 105 105 105 [+]
Gasoline Prices 1.25 1.26 1.26 1.24 1.24 1.24 USD/Liter [+]
Households Debt To Income 40.96 39.59 38.86 38.13 37.41 31.16 percent [+]
HOUSING Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Housing Index 138.51 147 149 149 150 150 Index Points [+]
Home Ownership Rate 80.20 81.04 80.89 80.74 80.59 81.71 percent [+]
TAXES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Corporate Tax Rate 15.00 15 15 15 15 15 percent [+]
Personal Income Tax Rate 23.00 23 23 23 23 23 percent [+]
Sales Tax Rate 21.00 21 21 21 21 21 percent [+]
Social Security Rate 34.09 34.09 34.09 34.09 34.09 34.09 percent [+]
Social Security Rate For Companies 23.59 23.59 23.59 23.59 23.59 23.59 percent [+]
Social Security Rate For Employees 10.50 10.5 10.5 10.5 10.5 10.5 percent [+]





Economic Forecasts for Latvia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Latvia economy. 3/1/2017