Analytics, GDP, Latvia
International Internet Magazine. Baltic States news & analytics
Thursday, 18.04.2024, 03:42
Latvian GDP grows 0.8% in Q3
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Based on seasonally adjusted data, the Latvian economic
growth in the third quarter of 2016 was 0.7% against the third quarter in 2015.
The GDP growth was influenced by a 2% increase in the output
in industry and a 1% increase in the output of the service sector. As compared
to the third quarter of 2015, there was a 24% drop in the construction sector,
however, the added value of the construction sector increased by more than 30%
(seasonally and working days non-adjusted data) in comparison to the second
quarter of 2016. The volume of product taxes collected was by 4% larger than a
year ago.
In the third quarter of 2016, as compared to the second
quarter, the GDP value (seasonally and working days adjusted data) increased by
0.5%.
Updated and expanded third-quarter data about the Latvian
GDP will be released on November 30.
During the second quarter of 2016, Latvia's seasonally
unadjusted GDP grew 2% against the second quarter of 2015.
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