Published: 25.10.2021.
Updated: 15.11.2022.
Updated: 15.11.2022.
Economic Development of Latvia Report 2021
Specialists of the Ministry of Economics have prepared the 2021 Economic Development Report of Latvia. The report assesses the situation in the economy and forecasts the prospects for economic development.
Macroeconomic Review of Latvia, October 2022
Thanks to the large-scale support measures of the government and European Union funds, as well as the improvement of the epidemiological situation, in 2021, Latvia's economy began to recover, and GDP increased by 4.1 percent.
On Consumer Price Changes in October 2022
The increase in consumer prices has become more moderate
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On Retail Trade Turnover in September 2022
Retail trade continues to be affected by the rapid rise in prices
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On the results of the Labor Force Survey in Q1 of 2022
In Q1 of 2022, the labor market continued to recover from the Covid-19 pandemic crisis
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On Latvia’s Foreign Trade in September 2022
For 19 months, on an annual basis, the rapid growth of trade in goods continues
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Flash Estimate of GDP in Q3 of 2022
Uncertainty and rapidly rising prices are slowing down the economy
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On Manufacturing Output in September 2022
In September 2022, the volumes of the manufacturing were 1.7% lower than a year ago
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Despite the difficulties, the economic activity continues to increase
Consumer prices increased more rapidly in September 2022
In August 2022, consumer price growth stabilized
In August 2022, exports and imports of goods continued to grow rapidly on an annual basis
In August, production volumes of manufacturing remained at the last year’s level
Retail trade continues to be affected by the rapid rise in prices
In July 2022, exports and imports of goods continued to grow rapidly on an annual basis
Retail trade continues to be affected by the rapid rise in prices
The sharp rise in prices causes a decline in construction for the third consecutive quarter
In July 2022, consumer prices continued to rise rapidly
In July 2022, the volumes of the manufacturing declined slightly
In June 2022, exports and imports of goods continued to grow rapidly
Despite the challenges, the beginning of the year in the economy can be evaluated positively
In June 2022, consumer prices continue to accelerate
In May 2022, exports and imports of goods continued to grow rapidly on an annual basis
In May 2022, retail sales continued to increase
Consumer prices continue to rise very rapidly
In May 2022, robust growth in manufacturing was observed
In April, exports and imports of goods continued to increase on an annual basis
Despite the rise in prices, in April 2022, retail sales are increasing
In April 2022, consumer prices continued to rise sharply
In March 2022, exports and imports of goods increased rapidly
In March 2022, retail turnover continues to increase
In Q3 of 2021, unemployment rate declined to 7.2%
In February 2022, a positive increase in retail trade has been observed
In March 2022, price growth has been more rapid than characteristic for the month
In 2021, economic activity in construction declined
Despite the spread of the Covid-19 virus, the economy continued to recover in 2021
Exports and imports of goods continued to grow strongly in January 2022
In February 2022, price increase has been more significant than characteristic for the month
In January 2021, an increase in retail trade turnover was observed
In December and in 2021 overall, exports of goods increased rapidly
Although the Covid-19 virus continued to spread in 2021, the economy grew by 4.7 percent
Manufacturing volumes continued to increase in December, reaching a total growth of 7.5% in 2021
In December 2021, growth in retail trade turnover was observed
GDP data for the third quarter suggest that the economy continues to recover
In November 2021, foreign trade continued to grow strongly
In November 2021, manufacturing volumes continued to increase
In Q3 of 2021, construction slowed down
In November 2021, similarly as in October, retail trade turnover declined
In November 2021, price increase has been more rapid than characteristic for the month
In October 2021, strong annual growth in foreign trade has been observed
In October 2021, manufacturing output increased by 1.2%
In October 2021, prices increased more rapidly than characteristic for the month
In October 2021, retail sales are affected by trade restrictions
In September 2021, exports and imports of goods increased equally rapidly
In September 2021, steady growth in retail trade turnover was observed
In Q3 of 2021, the economy continued to grow
In September 2021, manufacturing continued to grow
In August 2021, exports and imports of goods continued to grow rapidly
Compared to Q1 of 2021, the number of employees has increased by 8.4 thousand
In September 2021, prices have increased more rapidly than characteristic for the month
In August, uncharacteristic monthly price increases were observed
In August 2021, retail sales continued to increase
Manufacturing has been growing rapidly for the sixth consecutive month
In July 2021, the growth on an annual basis in manufacturing endured
In July 2021, exports and imports of goods continued to grow rapidly
In July, the growth rate of retail trade turnover decreased slightly
In June 2021, rapid annual growth in manufacturing endured
In June 2021, both exports and imports of goods increased rapidly
In Q2 of 2021, the economy is growing rapidly
In June 2021, retail sales continued to increase
In April 2021, both exports and imports of goods grew rapidly
In June 2021, month-specific price changes can be observed
In May 2021, retail sales continued to grow
In Q1 of 2021, a decline in economic activity can be observed
In May 2021, manufacturing continued to grow rapidly on an annual basis
In May 2021, consumer prices continued to rise
In April 2021, manufacturing increased rapidly on an annual basis
In April 2021, retail trade turnover is increasing rapidly
In March 2021, growth in manufacturing was observed
Consumer price increase in April 2021 has been higher than typical for the month
Along with a rapid growth in March 2021, exports of goods have reached a historic high
In March 2021, retail sales returned to growth
In February 2021, exports increased on an annual basis
In March 2021, month-specific price changes have been observed
Growth in construction has been observed in both Q4 of 2020 and 2020
In February 2021, manufacturing output contracted slightly on an annual basis
In 2020, the negative impact of Covid-19 was mitigated by the increase in exports of goods
In February 2021, retail turnover continued to decline
More rapid price increase than characteristic for the month observed in February 2021
In January 2021, manufacturing output declined slightly on an annual basis
In January 2021, a slight decline in exports on an annual basis has been observed
In January 2021, retail sales have declined
In December 2020, rapid export growth endured
In December 2020, manufacturing output continued to grow on an annual basis
In 2020, under the influence of Covid-19, the economic downturn reached 3.5%
In December 2020, retail trade turnover fell due to decline in non-food trade
The level of consumer prices in 2020 was affected by the fall in demand due to the Covid-19 crisis
In November 2020, rapid export growth continued
Amidst the crisis, the economic activity of the population remains high
In November 2020, manufacturing output increased by 4.3% annually
In November 2020, the growth rate of retail trade turnover remained positive
In October 2020, exports have reached a historic high in one month
In November 2020, month-specific price changes have been observed
In October 2020, manufacturing output declined slightly on an annual basis
In October 2020, retail trade turnover continued to increase for the fifth consecutive month