Latvia is a small, open economy with exports contributing more than half of GDP. Due to its geographical location, transit services are highly-developed, along with timber and wood-processing, agriculture and food products, and manufacturing of machinery and electronics industries. Corruption continues to be an impediment to attracting foreign direct investment and Latvia's low birth rate and decreasing population are major challenges to its long-term economic vitality. Latvia's economy experienced GDP growth of more than 10% per year during 2006-07, but entered a severe recession...
GDP | Reference | Last | Previous | Units | Frequency |
---|---|---|---|---|---|
Real Private Consumption | 2022 Q3 | 4,600,814 | 4,296,106 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Private Consumption | 2022 Q3 | 6,232,562 | 5,606,033 | Ths. EUR, NSA | Quarterly |
Government Consumption | 2022 Q3 | 1,828,141 | 1,689,455 | Ths. EUR, NSA | Quarterly |
Investment | 2022 Q3 | 2,827,963 | 3,177,927 | Ths. EUR, NSA | Quarterly |
Real Investment | 2022 Q3 | 2,422,918 | 2,749,369 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Nominal Fixed Investment (gross fixed capital formation) | 2022 Q3 | 2,484,115 | 2,031,280 | Ths. EUR, NSA | Quarterly |
Nominal Gross Domestic Product | 2022 Q3 | 10,408,757 | 9,742,881 | Ths. EUR, NSA | Quarterly |
Real Government Consumption | 2022 Q3 | 1,306,871 | 1,457,009 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Real Fixed Investment (gross fixed capital formation) | 2022 Q3 | 1,916,424 | 1,602,449 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Real Gross Domestic Product | 2022 Q3 | 7,444,897 | 7,286,386 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Price | Reference | Last | Previous | Units | Frequency |
Producer Price Index (PPI) | Dec 2022 | 169.5 | 168.9 | Index 2015=100, NSA | Monthly |
Consumer Price Index (CPI) | Dec 2022 | 141.2 | 141.8 | Index 2015=100, NSA | Monthly |
Wholesale Price Index | 2016 | 110.08 | 112.75 | Index 2010 = 100 | Annual |
Labor | Reference | Last | Previous | Units | Frequency |
Real Wages & Salaries | Sep 2022 | 96 | 101.5 | Index prv. per.=100, NSA | Monthly |
Wage & Salaries | Sep 2022 | 1,368 | 1,404 | EUR, NSA | Monthly |
Unemployment Rate | 2022 Q3 | 6.9 | 6.6 | %, NSA | Quarterly |
Labor Force | 2022 Q3 | 965.9 | 948 | Ths. #, NSA | Quarterly |
Agriculture Employment | 2017 | 74,974 | 77,587 | # | Annual |
Primary Industries Employment | 2017 Q2 | 60 | 61.4 | Ths. #, NSA | Quarterly |
Trade | Reference | Last | Previous | Units | Frequency |
Current Account Balance | Nov 2022 | -49 | -126 | Mil. EUR, NSA | Monthly |
Balance of Goods | Nov 2022 | -305.62 | -565.14 | Mil. EUR, NSA | Monthly |
Exports of Goods | Nov 2022 | 1,949 | 1,815 | Mil. EUR, NSA | Monthly |
Imports of Goods | Nov 2022 | 2,254 | 2,380 | Mil. EUR, NSA | Monthly |
Real Exports of Goods and Services | 2022 Q3 | 5,398,784 | 4,865,432 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Exports of Goods and Services | 2022 Q3 | 7,616,605 | 6,649,922 | Ths. EUR, NSA | Quarterly |
Real Imports of Goods and Services | 2022 Q3 | 6,317,122 | 6,042,874 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Imports of Goods and Services | 2022 Q3 | 8,096,513 | 7,380,456 | Ths. EUR, NSA | Quarterly |
Real Net Exports | 2019 Q2 | -278,929 | -151,814 | Ths. Ch. 2010 EUR, NSA | Quarterly |
Net Exports | 2019 Q2 | -67,796 | 103,354 | Ths. EUR, NSA | Quarterly |
Government | Reference | Last | Previous | Units | Frequency |
Government Expenditures | 2022 Q3 | 3,700 | 3,728 | Mil. EUR, NSA | Quarterly |
Government Revenues | 2022 Q3 | 3,746 | 3,796 | Mil. EUR, NSA | Quarterly |
Government Budget Balance | 2022 Q3 | 45.94 | 68.88 | Mil. EUR, NSA | Quarterly |
Outstanding Public Debt - Foreign | 2021 Q2 | 4,494,528,800 | 5,071,062,500 | USD, NSA | Quarterly |
Gross External Debt | 2021 Q2 | 8,273,640,800 | 8,882,860,000 | USD, NSA | Quarterly |
Outstanding Public Debt - Domestic | 2021 Q2 | 38,596,855,200 | 37,543,450,000 | USD, NSA | Quarterly |
Markets | Reference | Last | Previous | Units | Frequency |
Stock Market Index | 02 Feb 2023 | 1,200 | 1,190 | Index, NSA | Business Daily |
Average Long-term Government Bond | Dec 2022 | 3.5 | 3.74 | % p.a., NSA | Monthly |
Business Lending Rate | Dec 2022 | 3.43 | 3.14 | % , NSA | Monthly |
Household Lending Rate | Dec 2022 | 15.94 | 16.15 | % , NSA | Monthly |
Monetary Policy Rate | May 2021 | -0.5 | %, NSA | Monthly | |
Treasury Bills (over 31 days) | Dec 2013 | 0.23 | % p.a., NSA | Monthly | |
Lending Rate | Mar 2013 | 2.5 | 2.5 | % - End of period | Monthly |
Real Estate | Reference | Last | Previous | Units | Frequency |
Building Permits | 2022 Q3 | 1,303 | 1,365 | #, NSA | Quarterly |
Non-residential Building Permits | 2022 Q3 | 335 | 374 | #, NSA | Quarterly |
Residential Building Permits | 2022 Q3 | 968 | 991 | #, NSA | Quarterly |
House Price Index for Existing Homes | 2022 Q3 | 194.04 | 191.08 | Index 2015=100, NSA | Quarterly |
House Price Index for New Homes | 2022 Q3 | 166.66 | 166.56 | Index 2015=100, NSA | Quarterly |
House Price Index | 2022 Q3 | 187.88 | 185.56 | Index 2015=100, NSA | Quarterly |
Residential Building Completions | 2022 Q3 | 110.5 | 101.4 | Ths. m², NSA | Quarterly |
Consumer | Reference | Last | Previous | Units | Frequency |
Consumer Confidence | Jan 2023 | -32.4 | -32.8 | SA | Monthly |
Real Retail Sales | Dec 2022 | 120.42 | 124.12 | Vol. Index 2015=100, SA | Monthly |
Retail Sales | Dec 2022 | 162.51 | 169.29 | Index 2015=100, SA | Monthly |
Business | Reference | Last | Previous | Units | Frequency |
Capacity Utilization | 2023 Q1 | 72.6 | 73.3 | %, SA | Quarterly |
Business Confidence | Jan 2023 | -7.4 | -8.3 | SA | Monthly |
Industrial Production | Dec 2022 | 121.5 | 124.78 | Vol. Index 2015=100, SA | Monthly |
Change in Inventories | 2022 Q3 | 343,848 | 1,146,647 | Ths. EUR, NSA | Quarterly |
Demographics | Reference | Last | Previous | Units | Frequency |
Population | Dec 2022 | 1,892 | 1,894 | Ths., NSA | Monthly |
Births | Nov 2022 | 1,053 | 1,192 | #, NSA | Monthly |
Deaths | Nov 2022 | 2,374 | 2,501 | #, NSA | Monthly |
Net Migration | 2017 | -50,000 | # | Annual | |
Birth Rate | 2015 | 11.1 | # per Ths. pop. | Annual | |
Death Rate | 2015 | 14.4 | # per Ths. pop. | Annual |