Latvia GDP Growth Rate  1995-2016 | Data | Chart | Calendar | Forecast

The Latvian economy advanced 0.2 percent on quarter in the three months to September of 2016, slowing from a 0.6 percent growth in the previous period and below preliminary estimates of a 0.5 percent expansion. Year-on-year, the economy advanced 0.3 percent, lower than 2 percent in the preceding period and below flash estimates of 0.8 percent. Private spending increased at a slower 3.2 percent (4 percent in Q2); gross fixed capital formation shrank 26 percent, the same as in Q2; exports (2 percent compared to 4 percent in Q2) and imports rose less (1 percent compared to 7 percent). In contrast, public spending grew 2 percent after being flat in Q2. GDP Growth Rate in Latvia averaged 0.95 percent from 1995 until 2016, reaching an all time high of 5.20 percent in the second quarter of 2001 and a record low of -6.20 percent in the second quarter of 2009.

Latvia GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-08-31 10:00 AM Q2 0.6% -0.1% 0.4% 0.4%
2016-10-31 11:00 AM Q3 0.5% 0.6% 0.4%
2016-12-01 11:00 AM Q3 0.2% 0.6% 0.5% 0.5%
2017-01-30 11:00 AM Q4 0.24%
2017-01-30 11:00 AM Q4 0.2% 0.24%
2017-02-28 11:00 AM Q4 0.24%




Latvia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.20 0.60 5.20 -6.20 percent [+]
GDP Annual Growth Rate 0.30 2.00 14.10 -16.20 percent [+]
GDP 27.04 31.29 35.54 4.50 USD Billion [+]
GDP Constant Prices 5612642.00 5440271.00 6157260.00 2201093.00 EUR Thousand [+]
Gross National Product 6219.00 5599.00 6416.00 945.00 EUR Million [+]
Gross Fixed Capital Formation 1189740.00 926500.00 2402435.00 95826.00 EUR Thousand [+]
GDP per capita 14243.57 13872.21 14243.57 5127.26 USD [+]
GDP per capita PPP 22628.44 22038.47 22628.44 7796.00 USD [+]
Gdp From Agriculture 239866.00 151199.00 251462.00 75089.00 EUR Thousand [+]
Gdp From Construction 227955.00 141295.00 630928.00 92342.00 EUR Thousand [+]
Gdp From Manufacturing 693181.00 552191.00 695336.00 333666.00 EUR Thousand [+]
Gdp From Mining 176534.00 230815.00 263447.00 96547.00 EUR Thousand [+]
Gdp From Public Administration 319144.00 241590.00 559829.00 182541.00 EUR Thousand [+]
Gdp From Services 716450.00 617644.00 841807.00 181772.00 EUR Thousand [+]
Gdp From Transport 527695.00 523354.00 592434.00 228683.00 EUR Thousand [+]



Latvia GDP Growth Rate Notes

Latvia's GDP growth in recent years has been 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. On the expenditure side, household consumption is the main component of GDP and accounts for 61 percent of its total use, followed by gross fixed capital formation (23 percent) and government expenditure (18 percent). Exports of goods and services account for 59 percent while imports account for 62 percent, subtracting 3 percent of total GDP. Latvia joined the Euro in 2014. This page provides - Latvia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.60 5.20 -6.20 1995 - 2016 percent Quarterly



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