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Latvia’s key economic data and forecasts

 

2016

2017

2018

2019p

2020p

GDP growth (%)

2.1

4.6

4.8

3.5

3.2

GDP at current prices (mln EUR)

25037

27033

29523

31580

33700

Consumer prices index (% annual average)

0.1

2.9

2.5

2.9

2.5

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

-0.0

-0.5

-0.7

-1.0

-0.7

Current account balance (% of GDP)

1.4

-0.8

-0.5

-0.8

-1.5

Foreign direct investment flow (mln EUR)

134

640

688

550

550

Cumulative foreign direct investment (mln EUR)

14530

15963

15991 Q3

-

-

Foreign trade balance (% of GDP)

-7.8

-9.8

-10.6

-12.0

-12.5

Government foreign debt (mln EUR)

10092

10782

10800*

-

-

Manufacturing output (% yoy)

4.9

8.2

3.4

3.5

2.8

Retail trade turnover (% yoy)

1.9

4.2

4.0

3.5

3.3

Unemployment rate (%, end of period)

8.4

6.8

6.4

5.6

5.0

Job seekers rate (%, end of period)

9.3

8.1

6.9

6.1

5.6

Average gross salary growth (% yoy)

5.0

7.9

8.4

7.0

6.5

Standard & Poor’s long-term credit rating

A-

A-

A

-

-

* Provisional data. SEB banka’s forecasts.

Last updated: 04.03.2019

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

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