GDP per capita in Latvia
Latvia - GDP per capita (U.S. Dollars)
A comprehensive GDP release confirmed that annual growth lost some traction in the third quarter, coming in at 4.7% (previously reported: +4.8% year-on-year), down from 5.3% in the second quarter. Nevertheless, the seasonally-adjusted quarter-on-quarter print improved markedly in the third quarter (Q3: +1.7% quarter-on-quarter s.a.; Q2: +1.2% qoq s.a.), suggesting the underlying dynamics remained upbeat.
Domestic demand was the chief driver of the expansion in Q3, propped up by strong investment activity. Fixed investment growth remained elevated in the third quarter (Q3: +13.2% yoy; Q2: +13.5% yoy), amid a booming construction sector and surging investment in machinery and equipment as well as intellectual property products. In addition, private consumption growth accelerated from 4.3% yoy in Q2 to 4.7% in Q3, marking the best reading so far this year against the backdrop of tightening labor market conditions. Lastly, government consumption growth moderated to 3.5% on annual basis in Q3, from 3.7% in Q2.
On the external front, the third-quarter performance was significantly less upbeat. Exports rose a mere 1.0% in annual terms in the third quarter, down from 7.1% in the previous quarter, amid a wider slowdown in EU and global trade activity. Meanwhile, imports growth moderated to 3.4% in annual terms in Q3, below Q2’s 3.7%. As a result, the external sector subtracted 1.7 percentage points from third-quarter growth, compared to a 2.0 percentage-point contribution in the second quarter.
The Central Bank forecasts growth of 3.0% in 2019. Met the why particular panelists expect GDP to increase 3.4% in 2019, which is unchanged from last month’s forecast, and 3.1% in 2020.
Latvia - GDP per capita (USD) Data
|GDP per capita (USD)||14,902||15,688||13,663||14,032||15,572|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.55||0.0 %||Jun 30|
|Exchange Rate||1.13||0.65 %||Dec 11|
|Stock Market||946||0.17 %||Dec 11|
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December 3, 2018
Industrial output fell 1.9% in October from the same month last year, the second consecutive month of contraction (September: -1.2% year-on-year).
November 30, 2018
A comprehensive GDP release confirmed that annual growth lost some traction in the third quarter, coming in at 4.7% (previously reported: +4.8% year-on-year), down from 5.3% in the second quarter.
November 14, 2018
Consumer prices rose 0.7% over the previous month in October, broadly unchanged from September’s 0.6% month-on-month increase in prices.
November 2, 2018
Industrial output fell 1.2% in September from the same month last year, swinging from a revised 6.8% expansion in August (previously reported: +6.5% year-on-year).
October 30, 2018
According to a flash estimate released by the Statistical Institute on 30 October, the economy expanded 4.8% in year-on-year terms in the third quarter, down slightly from the second quarter’s sturdy 5.3% increase.