Latvia | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
GDP Growth Rate 0.20 0.8 0.7 0.6 0.8 0.5 percent [+]
Unemployment Rate 9.50 9.5 10.1 9.9 9.38 8.7 percent [+]
Inflation Rate 1.30 0.6 0.8 0.7 0.9 1.9 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade -87.10 -127 -135 -132 -132 -132 EUR Million [+]
Government Debt to GDP 36.40 34.3 33.77 33.23 32.7 34.5 percent [+]
MARKETS Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Currency 1.06 1.05 1.04 1.03 1.02 0.85 [+]
Stock Market 740.97 734 726 719 712 593 points [+]
Government Bond 10y 0.55 0.56 0.56 0.57 0.57 0.66 percent [+]
GDP Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
GDP Growth Rate 0.20 0.8 0.7 0.6 0.8 0.5 percent [+]
GDP Annual Growth Rate 0.30 1.1 1.2 1.5 2 3 percent [+]
GDP 27.04 29.74 30.08 32.43 25.77 48.65 USD Billion [+]
GDP Constant Prices 5612642.00 5570836 5647864 5658958 5706635 6152067 EUR Thousand [+]
Gross National Product 6219.00 6597 6054 6281 6469 7392 EUR Million [+]
Gross Fixed Capital Formation 1189740.00 1239270 445971 527327 676716 -601882 EUR Thousand [+]
GDP per capita 14243.57 14686 14818 14950 15081 16636 USD [+]
GDP per capita PPP 22628.44 23350 23440 23531 23622 25574 USD [+]
Gdp From Agriculture 239866.00 93429 80486 116951 111275 60468 EUR Thousand [+]
Gdp From Construction 227955.00 261642 262727 262940 262982 262992 EUR Thousand [+]
Gdp From Manufacturing 693181.00 655391 592879 710839 694501 669229 EUR Thousand [+]
Gdp From Mining 176534.00 215639 229124 178441 169199 211284 EUR Thousand [+]
Gdp From Public Administration 319144.00 420708 246758 322630 299995 405002 EUR Thousand [+]
Gdp From Services 716450.00 704118 703742 703671 703657 703654 EUR Thousand [+]
Gdp From Transport 527695.00 541657 503624 528977 528437 527244 EUR Thousand [+]
LABOUR Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Unemployment Rate 9.50 9.5 10.1 9.9 9.38 8.7 percent [+]
Employed Persons 895.00 892 888 892 890 886 Thousand [+]
Unemployed Persons 74053.00 73392 73039 72922 72884 72865 [+]
Long Term Unemployment Rate 3.80 3.78 3.61 3.43 3.41 2.97 percent [+]
Youth Unemployment Rate 15.50 16.96 15.92 16.5 16.14 16.27 percent [+]
Labour Costs 123.39 124 124 124 124 124 Index Points [+]
Job Vacancies 14299.00 22757 23423 26339 28550 24051 [+]
Wages 623.00 668 622 622 619 677 EUR/Month [+]
Minimum Wages 370.00 370 370 370 370 410 EUR/Month [+]
Population 1.99 1.97 1.97 1.97 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 0.20 0.02 0 0 -0.01 -0.03 percent [+]
Employment Rate 61.80 61.49 61.45 61.67 61.69 61.63 percent [+]
Full Time Employment 798.10 789 787 792 791 786 Thousand [+]
Part Time Employment 67.10 71.47 70.15 70.18 70.97 70.64 Thousand [+]
Productivity 114.90 124 106 115 120 122 Index Points [+]
Labor Force Participation Rate 68.40 68.42 68.44 68.5 68.52 68.59 percent [+]
PRICES Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Inflation Rate 1.30 0.6 0.8 0.7 0.9 1.9 percent [+]
Inflation Rate Mom 0.20 0.09 0.32 0.27 0.37 0.27 percent [+]
Harmonised Consumer Prices 100.71 101 101 102 102 102 Index Points [+]
Consumer Price Index CPI 100.80 101 100 99.69 99.27 95.32 Index Points [+]
Core Consumer Prices 101.99 103 103 104 104 108 Index Points [+]
Core Inflation Rate 1.60 1.76 1.94 2.07 2.17 2.38 percent [+]
GDP Deflator 1.15 1.13 1.14 1.14 1.14 1.14 percent [+]
Producer Prices 109.90 110 110 110 110 110 Index Points [+]
Producer Prices Change -1.40 -1.8 -1.2 -0.2 0.36 1.5 percent [+]
Export Prices 112.30 112 112 112 112 112 Index Points [+]
Import Prices 109.70 110 110 110 110 110 Index Points [+]
Food Inflation 2.10 2.39 2.79 3 3.11 3.23 percent [+]
Cpi Transportation 98.40 99.16 99.12 99.12 99.12 99.12 Index Points [+]
MONEY Actual Q4/16 Q1/17 Q2/17 Q3/17 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 8446.80 8447 8785 9138 9505 15892 EUR Million [+]
Money Supply M1 9879.10 10282 10585 10897 11218 16331 EUR Million [+]
Money Supply M2 11947.10 12131 12271 12410 12548 14167 EUR Million [+]
Foreign Exchange Reserves 3357.61 3367 3336 3309 3325 3321 USD Million [+]
Banks Balance Sheet 29535.90 29312 28865 28346 27746 6371 EUR Million [+]
Central Bank Balance Sheet 14388.66 14532 14506 14503 14504 14504 EUR Million [+]
Loans To Private Sector 5695.00 5736 5770 5798 5821 5930 EUR Million [+]
TRADE Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Balance of Trade -87.10 -127 -135 -132 -132 -132 EUR Million [+]
Exports 953.58 873 905 890 895 895 EUR Million [+]
Imports 1040.70 1019 1029 1029 1029 1028 EUR Million [+]
Current Account 86.70 -9.1 -21.47 -30.63 -37.5 -49.52 EUR Million [+]
Current Account to GDP -1.90 -2.1 -2.1 -2.1 -3.7 -0.7 percent [+]
External Debt 37810.39 39484 40288 41015 41698 47420 EUR Million [+]
Capital Flows 167530.00 149420 172351 126075 135167 141655 EUR THO [+]
Gold Reserves 6.62 6.62 6.62 6.62 6.62 6.62 Tonnes [+]
Foreign Direct Investment 43.54 21.54 29.67 29 28.67 28.8 EUR Million [+]
Terrorism Index 0.00 0 0 0 0 0 [+]
GOVERNMENT Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Government Debt to GDP 36.40 34.3 33.77 33.23 32.7 34.5 percent [+]
Government Budget -1.30 -1.2 -1.2 -1.2 -0.39 0.2 percent of GDP [+]
Government Budget Value -67527.00 9943 7069 -671 -4571 -5668 EUR Million [+]
Government Spending 849361.00 1015946 849563 1015744 849764 1014347 EUR Thousand [+]
Government Spending to GDP 37.20 36.92 36.96 36.99 37.02 37.14 percent [+]
Government Revenues 811845.00 794391 786763 787913 787697 787741 EUR Thousand [+]
Government Debt 9574.50 9952 10030 10138 10201 10415 EUR Million [+]
Fiscal Expenditure 879373.00 797655 784626 786162 785353 785563 EUR Thousand [+]
Asylum Applications 30.00 26.28 25.83 25.7 25.65 25.63 persons [+]
Military Expenditure 340.50 334 345 357 358 352 USD Million [+]
BUSINESS Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Business Confidence -6.00 -6.51 -5.46 -5.52 -5.76 -5.6 [+]
Industrial Production 6.70 1.7 2.2 2.2 6.74 1 percent [+]
Industrial Production Mom 2.40 0.6 2.5 2.5 0.35 0.6 percent [+]
Manufacturing Production 5.60 4.59 4.35 3.86 3.51 3.06 percent [+]
Capacity Utilization 73.10 72.16 72.72 72.69 72.89 72.74 percent [+]
Car Registrations 4053.00 4190 4003 4479 4023 4267 Cars [+]
Changes In Inventories -18114.00 -132099 195217 184721 -579 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 17.65 16.53 15.97 15.41 17.83 [+]
Electricity Production 276.00 493 511 467 475 479 Gigawatt-hour [+]
Corruption Index 55.00 59.96 60.63 61.29 61.96 71.19 Points [+]
Corruption Rank 40.00 39.78 39.5 39.22 38.94 36.07 [+]
Mining Production 1.10 4.04 5.38 5.89 6.07 6.16 percent [+]
CONSUMER Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Consumer Confidence -13.00 -13.4 -12.36 -12.61 -12.55 -12.56 [+]
Retail Sales MoM 0.60 0.19 0.07 0.06 0.07 0.07 percent [+]
Retail Sales YoY 0.20 -0.11 -0.45 -0.63 -0.73 -0.84 percent [+]
Consumer Spending 3685112.00 3414669 3308512 3627121 3723138 3518797 EUR Thousand [+]
Personal Savings -2.19 -4.3 -4.26 -4.22 -4.17 -3.51 percent [+]
Consumer Credit 485.30 489 492 495 497 515 EUR Million [+]
Bank Lending Rate 3.89 3.92 3.91 3.91 3.91 3.91 percent [+]
Economic Optimism Index 103.40 103 104 103 103 103 [+]
Gasoline Prices 1.15 1.15 1.16 1.16 1.16 1.16 USD/Liter [+]
Households Debt To Income 40.96 37.41 37.04 36.68 36.31 31.16 percent [+]
HOUSING Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Housing Index 137.34 146 147 149 149 150 Index Points [+]
Home Ownership Rate 80.20 80.59 80.67 80.76 80.84 81.71 percent [+]
TAXES Actual Q4/16 Q1/17 Q2/17 Q3/17 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. 12/11/2016