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 | 2020 Q3 | 3,970,339 | 3,237,382 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Private Consumption | 2020 Q3 | 4,454,884 | 3,640,558 | Ths. EUR, NSA | Quarterly |
Real Government Consumption | 2020 Q3 | 1,157,723 | 1,314,485 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Nominal Fixed Investment (gross fixed capital formation) | 2020 Q3 | 1,928,582 | 1,546,603 | Ths. EUR, NSA | Quarterly |
Government Consumption | 2020 Q3 | 1,416,158 | 1,500,104 | Ths. EUR, NSA | Quarterly |
Nominal Gross Domestic Product | 2020 Q3 | 7,801,024 | 6,894,276 | Ths. EUR, NSA | Quarterly |
Real Gross Domestic Product | 2020 Q3 | 7,029,631 | 6,313,731 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Investment | 2020 Q3 | 1,988,852 | 1,579,058 | Ths. EUR, NSA | Quarterly |
Real Fixed Investment (gross fixed capital formation) | 2020 Q3 | 1,767,700 | 1,411,824 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Real Investment | 2020 Q3 | 2,476,352 | 2,030,132 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Price | Reference | Last | Previous | Units | Frequency |
Consumer Price Index (CPI) | Dec 2020 | 108.3 | 108.3 | Index 2015=100, NSA | Monthly |
Producer Price Index (PPI) | Nov 2020 | 105 | 104.6 | Index 2015=100, NSA | Monthly |
Wholesale Price Index | 2016 | 110.08 | 112.75 | Index 2010 = 100 | Annual |
Labor | Reference | Last | Previous | Units | Frequency |
Wage & Salaries | Sep 2020 | 1,131 | 1,137 | EUR, NSA | Monthly |
Real Wages & Salaries | Sep 2020 | 99.5 | 97.39 | Index prv. per.=100, NSA | Monthly |
Unemployment Rate | 2020 Q3 | 8.64 | 8.49 | Ths., SA | Quarterly |
Labor Force | 2020 Q3 | 968.56 | 977.03 | Ths., SA | 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 2020 | 97 | 230 | Mil. EUR, NSA | Monthly |
Exports of Goods | Nov 2020 | 1,251 | 1,311 | Mil. EUR, NSA | Monthly |
Balance of Goods | Nov 2020 | -76.1 | -76.5 | Mil. EUR, NSA | Monthly |
Imports of Goods | Nov 2020 | 1,327 | 1,388 | Mil. EUR, NSA | Monthly |
Real Imports of Goods and Services | 2020 Q3 | 4,822,694 | 3,927,043 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Imports of Goods and Services | 2020 Q3 | 4,569,054 | 3,710,300 | Ths. EUR, NSA | Quarterly |
Real Exports of Goods and Services | 2020 Q3 | 4,368,355 | 3,746,755 | Ths. Ch. 2015 EUR, NSA | Quarterly |
Exports of Goods and Services | 2020 Q3 | 4,510,184 | 3,884,856 | 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 Budget Balance | 2020 Q3 | -412.27 | -106.49 | Mil. EUR, NSA | Quarterly |
Government Expenditures | 2020 Q3 | 3,402 | 3,015 | Mil. EUR, NSA | Quarterly |
Government Revenues | 2020 Q3 | 2,989 | 2,908 | Mil. EUR, NSA | Quarterly |
Outstanding Public Debt - Domestic | 2020 Q2 | 35,885,110,800 | 33,282,136,800 | USD, NSA | Quarterly |
Gross External Debt | 2020 Q2 | 9,502,622,800 | 8,184,132,000 | USD, NSA | Quarterly |
Outstanding Public Debt - Foreign | 2020 Q2 | 4,924,880,400 | 4,784,485,200 | USD, NSA | Quarterly |
Markets | Reference | Last | Previous | Units | Frequency |
Stock Market Index | 14 Jan 2021 | 1,179 | 1,172 | Index, NSA | Business Daily |
Average Long-term Government Bond | Nov 2020 | -0.25 | -0.23 | % p.a., NSA | Monthly |
Monetary Policy Rate | Nov 2020 | -0.5 | %, NSA | Monthly | |
Business Lending Rate | Nov 2020 | 2.96 | 2.94 | % , NSA | Monthly |
Household Lending Rate | Nov 2020 | 16.96 | 17.28 | % , 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 |
Non-residential Building Permits | 2020 Q3 | 475 | 371 | #, NSA | Quarterly |
Building Permits | 2020 Q3 | 1,377 | 1,069 | #, NSA | Quarterly |
Residential Building Permits | 2020 Q3 | 902 | 698 | #, NSA | Quarterly |
House Price Index | 2020 Q3 | 147.56 | 142.3 | Index 2015=100, NSA | Quarterly |
House Price Index for Existing Homes | 2020 Q3 | 148.25 | 141.15 | Index 2015=100, NSA | Quarterly |
House Price Index for New Homes | 2020 Q3 | 142.23 | 144.64 | Index 2015=100, NSA | Quarterly |
Residential Building Completions | 2020 Q3 | 127.7 | 92.23 | Ths. m², NSA | Quarterly |
Consumer | Reference | Last | Previous | Units | Frequency |
Retail Sales | Nov 2020 | 123.42 | 126.03 | Index 2015=100, SA | Monthly |
Real Retail Sales | Nov 2020 | 116.9 | 119.22 | Vol. Index 2015=100, SA | Monthly |
Consumer Confidence | Nov 2020 | -18.2 | -13.4 | SA | Monthly |
Business | Reference | Last | Previous | Units | Frequency |
Capacity Utilization | 2020 Q4 | 72.7 | 70.8 | %, SA | Quarterly |
Business Confidence | Nov 2020 | -5.8 | -5.7 | SA | Monthly |
Industrial Production | Nov 2020 | 118.8 | 117.08 | Vol. Index 2015=100, SA | Monthly |
Change in Inventories | 2020 Q3 | 60,270 | 32,455 | Ths. EUR, NSA | Quarterly |
Demographics | Reference | Last | Previous | Units | Frequency |
Population | Dec 2020 | 1,896 | 1,897 | Ths., NSA | Monthly |
Births | Nov 2020 | 1,332 | 1,375 | #, NSA | Monthly |
Deaths | Nov 2020 | 2,520 | 2,311 | #, 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 |