Economic situation

                

 

Manufacturing
 

Manufacturing output in February 2019, compared to the corresponding period last year, was by 5.7% higher (as reported by both unadjusted and calendar adjusted data). Overall, manufacturing output in the first two months of 2019, according to unadjusted data, was by 4.7% higher than in the previous year.

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April 2019

Manufacturing Output
Seasonally unadjusted data, changes against the corresponding period of the previous year, as per cent

GDP
 

GDP growth, in comparison with the corresponding period last year, in the 4th quarter of 2018 has increased by 5.1%. Overall, in 2018 the economy of Latvia has grown by 4.8%, thus reaching the highest GDP growth rate in the last seven years.

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March 2019

GDP growth
Per cent changes

Retail trade
 

Since Latvia began to overcome the consequences of 2008 global financial crisis, the retail trade turnover has gradually increased. The output of sector is positively affected by the rise in private consumption, which, in turn, is mainly driven by the increase in wages and other improvements in the labour market. Since the lowest point in 2011, output volumes in retail have gone up by 29%, exceeding the pre-crisis level by 5 percentage points.

Currently, the share of the sector in national economy, or the total value added, form 6.3%.

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October 2018

Retail trade turnover

 

 

Last update:    10-09-2019