Markets Actual Q3 Q4 Q1 Q2 2021
Currency 1.13 1.13 1.12 1.12 1.11 1.11
Stock Market (points) 1051.68 1031 1009 988 967 926
Government Bond 10y (%) 0.55 0.55 0.55 0.55 0.55 0.55

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -2.90 5 2.2 1.8 1.1 0.8
GDP Annual Growth Rate (%) -1.50 -7.5 -5 0.3 13.2 5
Unemployment Rate (%) 7.40 9.3 9.9 10.5 8.8 8.7
Inflation Rate (%) -0.60 0.1 0.3 0.9 1.5 2
Inflation Rate Mom (%) -0.40 0.9 0.2 0.2 0.2 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) -64.70 -300 -270 -270 -270 -230
Current Account (EUR Million) 147.00 -150 50 50 50 30
Current Account to GDP (%) -0.50 -1.3 -1.3 -1.5 -1.5 -1.5
Government Debt to GDP (%) 36.90 42 42 45 45 45
Government Budget (% of GDP) -0.20 -6.6 -6.6 -7.2 -7.2 -7.2
Business Confidence (points) -11.30 -32 -26 -19 -19 -13
Consumer Confidence (points) -14.40 -22 -17 -15 -15 -13
Retail Sales MoM (%) 7.80 -0.9 0.3 1.5 1.5 0.5
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 31.40 31.4 31.4 31.4 31.4 31.4

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -2.90 5 2.2 1.8 1.1 0.8
GDP Annual Growth Rate (%) -1.50 -7.5 -5 0.3 13.2 5
GDP (USD Billion) 34.12 28.2 28.2 31 31 31
GDP Constant Prices (EUR Thousand) 5974893.00 7020244 6960588 5992818 6763579 7308618
Gross National Product (EUR Million) 6990.00 7623 7426 7011 7913 7797
Gross Fixed Capital Formation (EUR Thousand) 1378555.00 1940640 1955703 1382691 1560524 2053488
GDP per capita (USD) 16405.70 18500 18500 19400 19400 19400
GDP per capita PPP (USD) 30830.10 28500 28500 30300 30300 30300
GDP From Agriculture (EUR Thousand) 169757.00 298540 158021 170266 192165 165922
GDP From Construction (EUR Thousand) 273389.00 511950 468994 274209 309476 492444
GDP From Manufacturing (EUR Thousand) 662374.00 737445 712613 664361 749807 748244
GDP From Mining (EUR Thousand) 223650.00 174416 204719 224321 253172 214955
GDP From Public Administration (EUR Thousand) 351751.00 429319 591986 352806 398182 621585
GDP From Services (EUR Thousand) 735696.00 954392 904286 737903 832808 949500
GDP From Transport (EUR Thousand) 467213.00 588762 521243 468615 528885 547305

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 7.40 9.3 9.9 10.5 8.8 8.7
Wages (EUR/Month) 822.00 840 880 880 880 880
Minimum Wages (EUR/Month) 430.00 480 480 540 540 540
Population (Million) 1.92 1.91 1.89 1.88 1.88 1.87
Retirement Age Women 63.25 63.75 63.75 63.75 63.75 63.75
Retirement Age Men 63.25 63.75 63.75 63.75 63.75 63.75

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) -0.60 0.1 0.3 0.9 1.5 2
Inflation Rate Mom (%) -0.40 0.9 0.2 0.2 0.2 0.2
Harmonised Consumer Prices (points) 108.50 109 111 111 111 114
Consumer Price Index CPI (points) 108.70 109 109 111 110 111
Core Consumer Prices (points) 108.46 110 109 110 111 112
Producer Prices (points) 104.30 104 104 107 106 106
Producer Prices Change (%) -2.40 -2.5 -1.8 1.3 1.5 1.9
CPI Housing Utilities (points) 105.60 109 108 109 107 111
CPI Transportation (points) 97.50 106 107 105 98.96 109
Food Inflation (%) 2.50 1.9 2.1 2.1 2.1 2.2

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) 0.17 0.17 0.17 0.17 0.17 0.17

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (EUR Million) -64.70 -300 -270 -270 -270 -230
Current Account (EUR Million) 147.00 -150 50 50 50 30
Current Account to GDP (%) -0.50 -1.3 -1.3 -1.5 -1.5 -1.5
Imports (EUR Million) 992.40 1520 1450 1450 1450 1450
Exports (EUR Million) 927.70 1220 1180 1180 1180 1360

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 36.90 42 42 45 45 45
Government Budget (% of GDP) -0.20 -6.6 -6.6 -7.2 -7.2 -7.2
Government Budget Value (EUR Million) 82499337.00 35857 35777 35777 35777 35777
Government Spending (EUR Thousand) 1132216.00 1128009 1395990 1135613 1281669 1465789
Government Spending to GDP (%) 38.90 46.2 46.2 41.8 41.8 41.8

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 31.40 31.4 31.4 31.4 31.4 31.4
Sales Tax Rate (%) 21.00 21 21 21 21 21
Social Security Rate (%) 35.09 35.09 35.09 35.09 35.09 35.09
Social Security Rate For Companies (%) 24.09 24.09 24.09 24.09 24.09 24.09
Social Security Rate For Employees (%) 11.00 11 11 11 11 11

Business Actual Q3 Q4 Q1 Q2 2021
Business Confidence (points) -11.30 -32 -26 -19 -19 -13
Industrial Production (%) -6.40 -1 -0.5 2 2.2 2
Industrial Production Mom (%) 4.90 0.4 0.6 0.6 0.6 0.6

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) -14.40 -22 -17 -15 -15 -13
Retail Sales MoM (%) 7.80 -0.9 0.3 1.5 1.5 0.5
Retail Sales YoY (%) -0.60 -2.3 -2.5 2.5 5.6 7.7
Consumer Spending (EUR Thousand) 3690364.00 4279671 3894312 3701435 4177492 4089028
Bank Lending Rate (%) 3.73 3.73 3.73 3.73 3.73 3.73
Gasoline Prices (USD/Liter) 1.25 1.19 1.13 1.07 1.02 0.97


This page has 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.