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Latvia’s key economic data and forecasts

 

2017

2018

2019p

2020p

2021p

GDP growth (%)

4.6

4.8

2.4

2.0

2.5

GDP at current prices (mln EUR)

27033

29523

 

 

 

Consumer prices index (% annual average)

2.9

2.5

2.8

2.2

2.2

Fiscal balance of the Government consolidated budget (ESA 95, % of GDP)

-0.5

-0.7

-0.9

-0.9

-0.9

Current account balance (% of GDP)

-0.8

-0.1

-1.2

-1.4

-1.5

Foreign direct investment flow (mln EUR)

640

688

380

350

400

Cumulative foreign direct investment (mln EUR)

15963

16137

-

-

-

Foreign trade balance (% of GDP)

-9.8

-10.6

-13.0

-13.5

-12.5

Government foreign debt (mln EUR)

10782

10608

-

-

-

Manufacturing output (% yoy)

8.2

3.4

1.5

3.0

3.3

Retail trade turnover (% yoy)

4.2

4.0

2.6

2.6

3.5

Unemployment rate (%, end of period)

6.8

6.4

5.7

5.7

6.1

Job seekers rate (%, end of period)

8.1

6.9

6.5

6.1

6.2

Average gross salary growth (% yoy)

7.9

8.4

7.0

6.5

4.5

Standard & Poor’s long-term credit rating

A-

A

-

-

-

* Provisional data. SEB banka’s forecasts.

Last updated: 27.08.2019

Dainis Gašpuitis
Macroeconomics Expert
Telephone: +371 67779994, dainis.gaspuitis@seb.lv

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