The Gross Domestic Product (GDP) in Latvia contracted 1 percent in the second quarter of 2022 over the previous quarter. source: Central Statistical Bureau of Latvia

GDP Growth Rate in Latvia averaged 0.90 percent from 1995 until 2022, reaching an all time high of 6.50 percent in the fourth quarter of 1996 and a record low of -7.20 percent in the second quarter of 2020. This page provides - Latvia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2022.

GDP Growth Rate in Latvia is expected to be -0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Latvia GDP Growth Rate is projected to trend around 0.60 percent in 2023 and 0.90 percent in 2024, according to our econometric models.

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Latvia GDP Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2022-07-28 10:00 AM QoQ Flash Q2 -1.4% 2.1% 0.2%
2022-08-31 10:00 AM QoQ Final Q2 -1.0% 2.1% -1.4%
2022-10-28 10:00 AM QoQ Flash Q3 -1.0% -0.1%

Related Last Previous Unit Reference
GDP Growth Rate -1.00 2.10 percent Jun 2022
GDP Annual Growth Rate 2.90 6.70 percent Jun 2022
GDP Constant Prices 7214555.00 6304703.00 EUR Thousand Jun 2022
Gross National Product 9331.00 7885.00 EUR Million Jun 2022
Gross Fixed Capital Formation 2133184.00 1478680.00 EUR Thousand Jun 2022
Full Year GDP Growth 4.40 -3.70 percent Mar 2022
GDP from Transport 540769.00 454551.00 EUR Thousand Jun 2022
GDP from Services 898777.00 836260.00 EUR Thousand Jun 2022
GDP from Public Administration 489047.00 367672.00 EUR Thousand Jun 2022
GDP from Mining 143311.00 173572.00 EUR Thousand Jun 2022
GDP from Manufacturing 907682.00 764392.00 EUR Thousand Jun 2022
GDP from Construction 310430.00 200808.00 EUR Thousand Jun 2022
GDP from Agriculture 285715.00 158392.00 EUR Thousand Jun 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
-1.00 2.10 6.50 -7.20 1995 - 2022 percent Quarterly