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Latvia’s key economic data and forecasts

 

2017

2018

2019

2020p

2021p

GDP growth (%)

4.6

4.8

2.2

-9.0

5.0

GDP at current prices (mln EUR)

26797

29056

30476

-

-

Consumer prices index (% annual average)

2.9

2.5

2.8

0.3

1.8

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

-0.5

-0.7

-0.2

-8.0

-5.0

Current account balance (% of GDP)

1.0

-0.7

-0.5

0.5

-0.5

Foreign direct investment flow (mln EUR)

591

842 706 500 650

Cumulative foreign direct investment (mln EUR)

16014

16172

17032

-

-

Foreign trade balance (% of GDP)

-9.8

-10.6

-9.7

-9.5

-10.5

Government foreign debt (mln EUR)

10782

10816

11245

-

-

Manufacturing output (% yoy)

8.2

3.4

2.0

-9.3

6.5

Retail trade turnover (% yoy)

4.2

4.0

2.3

-8.2

5.5

Unemployment rate (%, end of period)

6.8

6.4

6.2

10.5

9.5

Job seekers rate (%, end of period)

8.1

6.9

6.0

11.8

8.6

Average gross salary growth (% yoy)

7.9

8.4

7.2

1.0

3.0

Standard & Poor’s long-term credit rating

A-

A

A

A+

-

* Provisional data. SEB banka’s forecasts.

Last updated: 06.05.2020

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

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