The Gross Domestic Product (GDP) in Latvia expanded 0.70 percent in the second quarter of 2019 over the previous quarter. GDP Growth Rate in Latvia averaged 0.98 percent from 1995 until 2019, reaching an all time high of 6.40 percent in the fourth quarter of 1996 and a record low of -6.10 percent in the second quarter of 2009.

GDP Growth Rate in Latvia is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Latvia to stand at 0.80 in 12 months time. In the long-term, the Latvia GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.

Latvia GDP Growth Rate
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Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-04-30 10:00 AM GDP Growth Rate QoQ Flash Q1 -0.3% 0.9% 0.9%
2019-05-31 10:00 AM GDP Growth Rate QoQ Final Q1 -0.1% 0.9% -0.3%
2019-07-30 10:00 AM GDP Growth Rate QoQ Flash Q2 0.8% -0.1% 0.5%
2019-08-30 10:00 AM GDP Growth Rate QoQ Final Q2 0.7% -0.1% 0.8%
2019-10-30 11:00 AM GDP Growth Rate QoQ Flash Q3 0.7% 0.8%
2019-11-29 11:00 AM GDP Growth Rate QoQ Final Q3 0.7%


Latvia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 -0.10 6.40 -6.10 percent [+]
GDP Annual Growth Rate 2.00 3.00 13.90 -16.20 percent [+]
GDP 34.85 30.46 35.60 4.50 USD Billion [+]
GDP Constant Prices 6122163.00 5380515.00 6434145.00 2207929.00 EUR Thousand [+]
Gross National Product 7624.00 7000.00 7823.00 946.00 EUR Million [+]
Gross Fixed Capital Formation 1682566.00 1302986.00 2402613.00 95826.00 EUR Thousand [+]
GDP per capita 16405.70 15532.20 16405.70 5140.53 USD [+]
GDP per capita PPP 26437.43 25029.79 26437.43 7796.00 USD [+]
GDP From Agriculture 289563.00 163881.00 289563.00 75144.00 EUR Thousand [+]
GDP From Construction 364249.00 231614.00 631870.00 92913.00 EUR Thousand [+]
GDP From Manufacturing 713995.00 602035.00 713995.00 333749.00 EUR Thousand [+]
GDP From Mining 168440.00 215398.00 253926.00 96547.00 EUR Thousand [+]
GDP From Public Administration 346178.00 265080.00 559872.00 182541.00 EUR Thousand [+]
GDP From Services 846578.00 729173.00 913275.00 181772.00 EUR Thousand [+]
GDP From Transport 545072.00 569936.00 641059.00 228683.00 EUR Thousand [+]


Latvia GDP Growth Rate

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 October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.70 -0.10 6.40 -6.10 1995 - 2019 percent Quarterly




Country Last Previous
Indonesia 4.20 Jun/19
South Africa 3.10 Jun/19
United States 2.00 Jun/19
China 1.50 Sep/19
Turkey 1.20 Jun/19
India 1.00 Jun/19
South Korea 1.00 Jun/19
Canada 0.90 Jun/19
Singapore 0.60 Sep/19
Australia 0.50 Jun/19
Brazil 0.40 Jun/19
Netherlands 0.40 Jun/19
Spain 0.40 Jun/19
France 0.30 Jun/19
Japan 0.30 Jun/19
Switzerland 0.30 Jun/19
Euro Area 0.20 Jun/19
Russia 0.20 Jun/19
Italy 0.00 Jun/19
Mexico 0.00 Jun/19
Germany -0.10 Jun/19
United Kingdom -0.20 Jun/19
Argentina -0.30 Jun/19
Saudi Arabia -1.30 Mar/19


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