Latvia | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 0.20 0.7 0.6 0.8 1 0.4 percent [+]
Unemployment Rate 9.50 10.1 9.9 9.4 9.6 8.7 percent [+]
Inflation Rate 2.20 1 1.1 1.2 1.5 1.9 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade -122.10 -134 -132 -132 -132 -132 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 1.07 1.02 1.01 1 1.04 0.83 [+]
Stock Market 743.98 718 711 704 696 586 points [+]
Government Bond 10y 0.55 0.56 0.57 0.57 0.54 0.66 percent [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 0.20 0.7 0.6 0.8 1 0.4 percent [+]
GDP Annual Growth Rate 0.30 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 22628.44 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 9.50 10.1 9.9 9.4 9.6 8.7 percent [+]
Employed Persons 895.00 888 892 890 889 886 Thousand [+]
Unemployed Persons 78357.00 73039 72922 72884 72872 72865 [+]
Long Term Unemployment Rate 3.80 3.61 3.43 3.41 3.33 2.97 percent [+]
Youth Unemployment Rate 17.80 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 370.00 370 370 370 380 410 EUR/Month [+]
Population 1.99 1.98 1.98 1.98 1.97 1.94 Million [+]
Retirement Age Women 62.50 62.5 62.5 62.5 62.5 62.5 [+]
Retirement Age Men 62.50 62.5 62.5 62.5 62.5 62.5 [+]
Employment Change -1.50 -0.37 -0.23 -0.15 -0.1 -0.02 percent [+]
Employment Rate 61.80 61.45 61.67 61.69 61.58 61.63 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 68.40 68.44 68.5 68.52 68.54 68.59 percent [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate 2.20 1 1.1 1.2 1.5 1.9 percent [+]
Inflation Rate Mom 0.60 0.32 0.27 0.37 0.27 0.27 percent [+]
Harmonised Consumer Prices 101.38 101 101 102 102 102 Index Points [+]
Consumer Price Index CPI 101.60 100 100 99.72 99.37 96.27 Index Points [+]
Core Consumer Prices 101.66 102 102 102 102 103 Index Points [+]
Core Inflation Rate 1.80 1.62 1.68 1.73 1.76 1.83 percent [+]
GDP Deflator 1.15 1.14 1.14 1.14 1.13 1.14 percent [+]
Producer Prices 110.60 110 110 110 110 111 Index Points [+]
Producer Prices Change -0.80 -1.2 -0.2 -0.49 0.4 1.5 percent [+]
Export Prices 114.10 112 112 112 112 112 Index Points [+]
Import Prices 111.10 110 110 110 110 110 Index Points [+]
Food Inflation 5.00 3.96 4.32 4.51 4.61 4.72 percent [+]
Cpi Transportation 100.70 99.06 99.06 99.06 99.06 99.06 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 8453.70 8798 9163 9545 9946 16425 EUR Million [+]
Money Supply M1 10038.50 10584 10897 11220 11553 16423 EUR Million [+]
Money Supply M2 12197.60 12271 12410 12548 12684 14167 EUR Million [+]
Foreign Exchange Reserves 3334.47 3336 3309 3325 3320 3321 USD Million [+]
Banks Balance Sheet 30029.10 28865 28346 27746 27056 6371 EUR Million [+]
Central Bank Balance Sheet 14644.60 14694 14692 14691 14691 14691 EUR Million [+]
Loans To Private Sector 5710.00 5770 5798 5821 5840 5930 EUR Million [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -122.10 -134 -132 -132 -132 -132 EUR Million [+]
Exports 970.27 913 906 906 909 907 EUR Million [+]
Imports 1092.43 1077 1075 1072 1071 1072 EUR Million [+]
Current Account 62.40 25.67 10.19 -1.72 -10.81 -34.3 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 93.16 29.67 29 28.67 28.83 28.8 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 -95804.00 7069 -671 -4571 -5578 -5668 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 777727.00 786763 787913 787697 787755 787741 EUR Thousand [+]
Government Debt 9349.90 10030 10138 10201 10247 10415 EUR Million [+]
Fiscal Expenditure 873531.00 784626 786162 785353 785623 785563 EUR Thousand [+]
Asylum Applications 55.00 25.41 25.35 25.33 25.32 25.32 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 -6.50 -5.45 -5.51 -5.76 -5.45 -5.59 [+]
Industrial Production 11.00 2.2 2.2 10.87 1.5 1 percent [+]
Industrial Production Mom 2.80 2.5 2.5 0.72 0.7 0.6 percent [+]
Manufacturing Production 9.10 4.35 3.86 3.51 3.34 3.06 percent [+]
Capacity Utilization 73.10 72.72 72.69 72.89 72.69 72.74 percent [+]
Car Registrations 4053.00 4003 4479 4023 4298 4267 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 840.00 511 467 475 482 479 Gigawatt-hour [+]
Corruption Index 55.00 58.05 58.69 59.32 59.96 71.15 Points [+]
Corruption Rank 40.00 40.83 40.48 40.13 39.79 36.1 [+]
Mining Production 9.80 5.38 5.89 6.07 6.13 6.16 percent [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Consumer Confidence -13.00 -12.36 -12.61 -12.55 -12.56 -12.56 [+]
Retail Sales MoM 1.30 0.37 0.28 0.3 0.29 0.3 percent [+]
Retail Sales YoY 4.60 5.68 6.37 6.78 6.99 7.22 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 493.10 492 495 497 499 515 EUR Million [+]
Bank Lending Rate 4.05 3.91 3.91 3.91 3.91 3.91 percent [+]
Economic Optimism Index 103.90 103 104 103 103 103 [+]
Gasoline Prices 1.20 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. 1/20/2017