Latvia GDP Growth Rate

The Gross Domestic Product (GDP) in Latvia expanded 0.80 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Latvia is reported by the Central Statistical Bureau of Latvia. GDP Growth Rate in Latvia averaged 1.15 Percent from 1995 until 2013, reaching an all time high of 4.60 Percent in the second quarter of 1997 and a record low of -12 Percent in the first quarter of 2009. Latvia has one of the highest GDP growth rates in Europe, mostly driven by expansion in consumption and credit. The main industries are: synthetic fibers, agricultural machinery, fertilizers, radios, electronics, pharmaceuticals, processed foods, textiles and timber. Recovery in light industry and Riga's emergence as a regional financial and commercial center in the Baltic Sea region along with European Union accession in 2004 may be the key elements in the future expansion. This page provides - Latvia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.80 1.20 4.60 -12.00 0.84 | 2014/03 1995 - 2013 Percent Quarterly

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Latvia GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-11-11 11:00 AM Latvia
GDP Growth Rate QoQ - P.
Q3 2013 1.2% 0.04% (R) 0.2% 0.87%
2013-12-09 11:00 AM Latvia
GDP Growth Rate QoQ
Q3 2013 1.3% 0.04% 1.2% 0.87%
2014-02-10 11:00 AM Latvia
GDP Growth Rate QoQ Flash
Q4 2013 0.7% 1.3% 1.5%
2014-03-11 11:00 AM Latvia
GDP Growth Rate QoQ Final
Q4 2013 0.8% 1.2% (R) 0.7% 0.7%
2014-05-19 11:00 AM Latvia
GDP Growth Rate QoQ Flash
Q1 2014 0.8% 0.84%
2014-10-30 12:00 PM Latvia
GDP Growth Rate QoQ Final
Q2 2014 0.8% 0.24%
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GDP Last Previous Highest Lowest Forecast Unit
GDP 28.37 2012-12-31 28.48 33.67 4.50 27.73 2013-12-31 USD Billion [+]
GDP Constant Prices 5654522.00 2013-11-15 5470765.00 6299392.00 3808.00 5599240.14 2014-03-31 LVL THO [+]
GDP Growth Rate 0.80 2013-12-31 1.20 4.60 -12.00 0.84 2014-03-31 Percent [+]
GDP Annual Growth Rate 3.60 2013-12-31 4.60 13.90 -19.10 3.87 2014-03-31 Percent [+]
Gross Fixed Capital Formation 1230335.00 2013-11-15 1346304.00 1346304.00 64877.00 1531092.64 2014-03-31 LVL THO [+]
Gross National Product 6316.00 2013-11-15 6013.00 6316.00 607.90 6849.76 2014-03-31 LVL Million [+]
GDP per capita 8526.99 2012-12-31 7946.47 8699.39 2152.74 9105.33 2013-12-31 USD [+]
GDP per capita PPP 15946.28 2012-12-31 14860.64 16268.68 5920.84 17026.03 2013-12-31 USD [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Latvia Employed Persons at 900.00 Thousand  
The number of employed persons in Latvia decreased to 900 Thousand in the fourth quarter of 2013 from 906 Thousand in the third quarter of 2013. Employed Persons in Latvia is reported by the Central Statistical Bureau of Latvia.
Latvia Exports at 797.10 EUR Million  
Exports in Latvia increased to 797.10 EUR Million in February of 2014 from 738.40 EUR Million in January of 2014. Exports in Latvia is reported by the Central Statistical Bureau of Latvia.
Latvia Export Prices at 117.20 Index Points  
Export Prices in Latvia remained unchanged at 117.20 Index Points in the fourth quarter of 2013 from 117.20 Index Points in the third quarter of 2013. Export Prices in Latvia is reported by the Central Statistical Bureau of Latvia.
Latvia GDP Constant Prices at 5654522.00 LVL THO  
GDP Constant Prices in Latvia increased to 5654522 LVL THO in the fourth quarter of 2013 from 5470765 LVL THO in the third quarter of 2013. GDP Constant Prices in Latvia is reported by the Central Statistical Bureau of Latvia.
Latvia GDP Deflator at 1.12 Index Points  
GDP Deflator in Latvia remained unchanged at 1.12 Index Points in the fourth quarter of 2013 from 1.12 Index Points in the third quarter of 2013. GDP Deflator in Latvia is reported by the Central Statistical Bureau of Latvia.
Latvia Government Budget Value at -21.50 LVL Million  
Latvia recorded a government budget deficit of 21.50 LVL Million in February of 2014. Government Budget Value in Latvia is reported by the Treasury of the Republic of Latvia.
Latvia Government Spending at 1024905.00 LVL Million  
Government Spending in Latvia increased to 1024905 LVL Million in the fourth quarter of 2013 from 805366 LVL Million in the third quarter of 2013. Government Spending in Latvia is reported by the Central Statistical Bureau of Latvia.
Latvia Gross Fixed Capital Formation at 1230335.00 LVL THO  
Gross Fixed Capital Formation in Latvia decreased to 1230335 LVL THO in the fourth quarter of 2013 from 1346304 LVL THO in the third quarter of 2013. Gross Fixed Capital Formation in Latvia is reported by the Central Statistical Bureau Of Latvia.
Latvia Gross National Product at 6316.00 LVL Million  
Gross National Product in Latvia increased to 6316 LVL Million in the fourth quarter of 2013 from 6013 LVL Million in the third quarter of 2013. Gross National Product in Latvia is reported by the Central Statistical Bureau of Latvia.
Latvia Harmonised Consumer Prices at 147.28 Index Points  
Harmonised Consumer Prices in Latvia decreased to 147.28 Index Points in February of 2014 from 147.30 Index Points in January of 2014. Harmonised Consumer Prices in Latvia is reported by the Eurostat.
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