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. 2014-04-24

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

TO

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%
[+]

GDP Last Previous Highest Lowest Forecast Unit
GDP 28.37 2012-12-31 28.48 33.67 4.50 28.84 2014-06-30 USD Billion [+]
GDP Constant Prices 5654522.00 2013-11-15 5470765.00 6299392.00 3808.00 5595474.04 2014-06-30 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 9402.37 2014-06-30 USD [+]
GDP per capita PPP 15946.28 2012-12-31 14860.64 16268.68 5920.84 17704.42 2014-06-30 USD [+]
[+]


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 Current Account at -23508.00 LVL Thousand  
Latvia recorded a Current Account deficit of 23508 LVL Thousand in February of 2014. Current Account in Latvia is reported by the Bank of Latvia.
Latvia Balance of Trade at -145.80 EUR Million  
Latvia recorded a trade deficit of 145.80 EUR Million in February of 2014. Balance of Trade in Latvia is reported by the Central Statistical Bureau of Latvia.
Latvia Capital Flows at 64013.00 LVL THO  
Capital Flows in Latvia decreased to 64013 LVL THO in the fourth quarter of 2013 from 268123 LVL THO in the third quarter of 2013. Capital Flows in Latvia is reported by the Bank of Latvia.
Latvia Capacity Utilization at 72.10 Percent  
Capacity Utilization in Latvia decreased to 72.10 percent in the first quarter of 2014 from 72.20 percent in the fourth quarter of 2013. Capacity Utilization in Latvia is reported by the European Commission.
Latvia Car Registrations at 2910.00 Cars  
Car Registrations in Latvia decreased to 2910 Cars in the first quarter of 2014 from 3048 Cars in the fourth quarter of 2013. Car Registrations in Latvia is reported by the Central Statistical Bureau of Latvia.
Latvia Consumer Price Index (CPI) at 107.30 Index Points  
Consumer Price Index (CPI) in Latvia increased to 107.30 Index Points in March of 2014 from 107 Index Points in February of 2014. Consumer Price Index (CPI) in Latvia is reported by the Central Statistical Bureau of Latvia.
Latvia Consumer Spending at 3476763.00 LVL Thousand  
Consumer Spending in Latvia increased to 3476763 LVL Thousand in the fourth quarter of 2013 from 3445343 LVL Thousand in the third quarter of 2013. Consumer Spending in Latvia is reported by the Central Statistical Bureau of Latvia.
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.
MORE RELATED NEWS

LATEST NEWS

US Durable Goods Orders Surge in March  
New orders for manufactured durable goods in March increased $6.0 billion or 2.6 percent to $234.8 billion. This increase, up two consecutive months, followed a 2.1 percent February increase.
US Jobless Claims Rise in Latest Week  
In the week ending April 19, the advance figure for seasonally adjusted initial claims was 329,000, an increase of 24,000 from the previous week's revised level. There were no special factors impacting this week's initial claims.
Central Bank of Turkey Leaves Main Rates on Hold  
The Monetary Policy Committee decided on April 24th, 2014, to leave the one-week repo rate on hold at 10.0 percent for the third straight meeting. The Central Bank said it will maintain the current policy stance until there is a significant improvement in the outlook for inflation.
Swiss Trade Surplus Narrows Further in March  
The trade surplus decreased 10.6 percent in March of 2014 from the previous month to CHF 2.1 billion as imports rose at a higher pace than exports. Compared with a year earlier, the trade balance increased by 17.2 percent, driven by stronger sales of pharmaceuticals and chemicals products, and machinery to Europe and China.
Polish Unemployment Rate Falls in March  
Poland’s jobless rate dropped for the second straight month in March of 2014 to 13.5 percent, down from 13.9 percent in February and below market forecasts. A year earlier, unemployment was recorded at 14.3 percent.
South Korean Economy Expands at a Fastest Pace  
In the first quarter of 2014, South Korea’s GDP accelerated for the fourth straight quarter to an annual 3.9 percent growth rate, driven by exports.
South Korea GDP Growth Beats Expectations in Q1  
South Korean GDP expanded a seasonally adjusted 0.9 percent on quarter in the first three months of 2014, the same rate recorded in the previous quarter and above market expectations.
Reserve Bank of New Zealand Increases Interest Rate to 3.0%  
At its April 23rd, 2014 meeting, the Reserve Bank of New Zealand lifted the benchmark interest rate for the second straight meeting by 25 bps to 3.0 percent, as inflationary pressures were increasing and were expected to continue doing so over the next two years.
US New Home Sales Fall Sharply in March  
Sales of new single-family houses dropped 14.5 percent in March of 2014 to their lowest level in eight months. Sales were recorded at a seasonally adjusted annual rate of 384,000, below the revised February rate of 449,000.
US Markit Manufacturing PMI Steady in April  
At 55.4 in April, the Markit Flash U.S. Manufacturing PMI was down fractionally from 55.5 in March, but still well above the neutral 50.0 value. Sharper rates of output and new business growth boosted the Manufacturing PMI during April, while the main negative influence on the headline index was a rise in the suppliers’ delivery times component.
MORE TOP NEWS

OVERVIEW    |     WORLBANK    |     [+] Calendar    |     [+] Countries    |     [+] Indicators    |     News