Latvia | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 1.10 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 3.30 2.1 2 2.3 2.4 2.8 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade -175.40 -187 -173 -177 -178 -178 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 1.09 1.04 1.03 1.02 1.01 0.84 [+]
Stock Market 770.47 733 726 718 703 592 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 1.10 0.7 0.6 0.8 1 0.4 percent [+]
GDP Annual Growth Rate 2.60 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 5880383.00 5528637 5879832 5529187 5879284 5876026 EUR Thousand [+]
Gross National Product 6789.00 6078 6627 6721 7050 7371 EUR Million [+]
Gross Fixed Capital Formation 1484883.00 697939 827972 1080679 1385158 1241069 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 158566.00 152631 239603 248984 159619 162341 EUR Thousand [+]
Gdp From Construction 310614.00 309059 309649 309425 309510 309487 EUR Thousand [+]
Gdp From Manufacturing 678026.00 613692 727152 696791 697915 706410 EUR Thousand [+]
Gdp From Mining 238206.00 238098 180186 160970 235635 228455 EUR Thousand [+]
Gdp From Public Administration 448097.00 269598 356774 314199 334992 328170 EUR Thousand [+]
Gdp From Services 767415.00 765458 765061 764980 764964 764959 EUR Thousand [+]
Gdp From Transport 541525.00 531099 531849 547382 540049 538508 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 79152.00 79266 78650 78458 78400 78370 [+]
Long Term Unemployment Rate 4.00 3.72 3.57 3.58 3.49 3.19 percent [+]
Youth Unemployment Rate 19.00 19.42 19.15 19.4 19.28 19.33 percent [+]
Labour Costs 125.26 125 125 125 125 124 Index Points [+]
Job Vacancies 14142.00 14550 14758 14807 14923 15234 [+]
Wages 703.00 622 622 672 670 677 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 774.10 771 776 772 764 756 Thousand [+]
Part Time Employment 82.20 76.45 77.64 78.88 80.42 80 Thousand [+]
Productivity 125.80 107 117 123 126 125 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 3.30 2.1 2 2.3 2.4 2.8 percent [+]
Inflation Rate Mom 0.40 0.5 0.36 0.4 0.35 0.35 percent [+]
Harmonised Consumer Prices 101.86 102 103 103 103 104 Index Points [+]
Consumer Price Index CPI 102.10 102 102 102 102 101 Index Points [+]
Core Consumer Prices 100.62 101 100 100 99.91 98.17 Index Points [+]
Core Inflation Rate 1.50 1.55 1.55 1.57 1.58 1.6 percent [+]
GDP Deflator 1.15 1.15 1.15 1.15 1.15 1.16 percent [+]
Producer Prices 111.80 112 113 114 116 129 Index Points [+]
Producer Prices Change 1.30 -0.2 0.5 0.9 1.3 2.2 percent [+]
Export Prices 115.70 117 117 118 118 118 Index Points [+]
Import Prices 112.90 114 114 114 115 115 Index Points [+]
Cpi Transportation 101.00 101 101 101 101 101 Index Points [+]
Food Inflation 6.80 8.13 9.66 10.45 10.87 11.35 percent [+]
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 8201.10 8153 8140 8136 8136 8136 EUR Million [+]
Money Supply M1 9937.60 9973 10033 10061 10088 10227 EUR Million [+]
Money Supply M2 12048.00 12132 12192 12235 12273 12491 EUR Million [+]
Foreign Exchange Reserves 3419.59 3457 3421 3441 3432 3434 USD Million [+]
Banks Balance Sheet 29427.50 29475 29365 29378 29368 29369 EUR Million [+]
Central Bank Balance Sheet 14857.10 14873 14867 14865 14865 14865 EUR Million [+]
Loans To Private Sector 5706.80 5721 5738 5753 5765 5821 EUR Million [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -175.40 -187 -173 -177 -178 -178 EUR Million [+]
Exports 808.74 872 889 871 889 882 EUR Million [+]
Imports 984.05 1036 1018 1020 1025 1025 EUR Million [+]
Current Account 114.50 87.86 98.17 103 104 108 EUR Million [+]
Current Account to GDP -1.90 -2.1 -2.1 -3.13 -3.23 -0.7 percent [+]
External Debt 36853.29 36502 36605 36282 36381 36019 EUR Million [+]
Capital Flows 277700.00 271757 211644 231278 268336 246741 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 10956.00 -71287 -31595 -18249 -14357 -13002 EUR Million [+]
Government Spending 1098621.00 924894 1098414 925101 1098207 1096979 EUR Thousand [+]
Government Spending to GDP 37.20 38.18 37.76 37.34 36.92 37.14 percent [+]
Government Revenues 833586.00 804468 826159 821219 822270 822090 EUR Thousand [+]
Government Debt 9349.90 10030 10138 10201 10247 10415 EUR Million [+]
Fiscal Expenditure 822631.00 788315 843929 833143 836779 835942 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 4.70 2.2 2.2 6.11 1.5 1 percent [+]
Industrial Production Mom -2.80 2.5 2.5 0.39 0.7 0.6 percent [+]
Manufacturing Production 7.80 8.26 8.29 8.45 8.33 8.37 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 12766.00 256344 219387 28901 71610 131627 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 762.00 479 398 504 498 484 Gigawatt-hour [+]
Corruption Index 57.00 57 58 58 59 61 Points [+]
Corruption Rank 44.00 40.83 40.48 40.13 39.79 36.1 [+]
Mining Production 18.80 9.54 7.52 6.84 6.59 6.45 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 3418893.00 3312638 3630835 3726703 3471023 3529023 EUR Thousand [+]
Personal Savings -2.19 -1.47 -2.41 -3.36 -4.3 -3.51 percent [+]
Consumer Credit 494.40 496 501 504 507 528 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 1.23 1.22 1.19 1.18 1.18 1.19 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. 3/28/2017