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Latvia’s key economic data and forecasts

 

2019

2020

2021p

2022p

GDP growth (%)

2.2

-3.6

3.7

5.2

GDP at current prices (mln EUR)

30421

29334

-

-

Consumer prices index (% annual average)

2.8

0.1

1.7

2.4

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

-0.2

-4.5

-8.1

-3.7

Current account balance (% of GDP)

-0.6

3.0

1.5

1.2

Foreign direct investment flow (mln EUR)

781 761 650 650

Cumulative foreign direct investment (mln EUR)

15925

16671

-

-

Foreign trade balance (% of GDP)

-9.7

-6.5

-7.5

-7.9

Government foreign debt (mln EUR)

11247

12750

-

-

Manufacturing output (% yoy)

2.0

-1.2

3.5

3.8

Retail trade turnover (% yoy)

2.3

1.5

3.5

4.0

Unemployment rate (%, end of period)

6.2

7.7

7.0

6.3

Job seekers rate (%, end of period)

6.0

8.1

8.4

7.5

Average gross salary growth (% yoy)

7.2

6.2

6.7

6.9

Standard & Poor’s long-term credit rating

A

A+

-

-

* Provisional data. SEB banka’s forecasts.

Last updated: 01.06.2021

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

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