Latvia’s economy expanded 10.3 percent year-on-year in the second quarter of 2021, rebounding from a 1.3 percent contraction in the previous period, a flash estimate showed. It was the strongest pace of economic growth since the third quarter of 2007, as the vaccination campaign allowed for the economy to reopen. Activity advanced the most in the services sector (11.3 percent), followed by manufacturing (6.7 percent). On a seasonally adjusted quarterly basis, the economy expanded 3.7 percent, after a -1.5 percent drop in the previous quarter. source: Central Statistical Bureau of Latvia
GDP Annual Growth Rate in Latvia averaged 3.71 percent from 1996 until 2021, reaching an all time high of 15.10 percent in the first quarter of 2007 and a record low of -15.60 percent in the third quarter of 2009. This page provides - Latvia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
GDP Annual Growth Rate in Latvia is expected to be 6.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Latvia to stand at 7.80 in 12 months time. In the long-term, the Latvia GDP Annual Growth Rate is projected to trend around 4.50 percent in 2022 and 3.00 percent in 2023, according to our econometric models.