Analytics, Baltic, Economics, GDP
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Thursday, 02.05.2024, 04:04
GDP of Latvia fell by 18% in Q1
Print versionProduction approach
Changes in the main activities in the 1st quarter of 2009 (at constant prices, % of the corresponding quarter of the previous year)
The decrease in GDP was due to the drop in the following sectors: trade (share in GDP structure – 15.9%) - by 25.8%, transport and communications (11.0%) – by 15.4%, manufacturing (8.6%) – by 25.8% and construction (5.4%) – by 28.2%.
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Changes of GDP in the 1st quarter of 2009 by kind of economic activity (NACE rev. 1.1, at constant prices, % of the corresponding quarter of the previous year) |
A Agriculture, hunting and forestry;
B Fishery;
C Mining and quarrying;
D Manufacturing;
E Electricity, gas and water supply;
F Construction;
G Trade;
H Hotels and restaurants;
I Transport and communications;
J Finances;
K Business services;
L Public administration and defence; compulsory social security;
M Education;
N Health and social work;
O Other community, social and personal service activities
Expenditure approach
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Increase of gross domestic product by main expenditure items at current prices, % of the corresponding quarter of the previous year |
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| at constant prices, % of the corresponding quarter of the previous year |
In the 1st quarter of 2009 compared to the 1st quarter of 2008 (at current prices) in final private consumption expenditure on food has decreased by 4.6%, on recreation and culture – by 9.7%, on clothing and footwear – by 42%. Slight increase was observed in expenditure on housing, electricity – by 3.7%, on transport – by 1.4%, on health – by 0.9%.
Decrease in private final consumption at constant prices was caused bypurchase volume reduction. Government final consumption expenditure decreased by 1.2%, but expenditure on gross capital formation – by 34.1%. Export of goods (61.1% of total exports) has reduced by 22.6% and exports of services – by 4.7%. However, volume of imports of goods (79.4% of total imports) has decreased by 34.2%, but volume of imports of services – by 35.1%.
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| GROWTH OF GROSS DOMESTIC PRODUCT IN THE BALTIC COUNTRIES (at constant prices, % of the corresponding period of the previous year) |
* Seasonally adjusted data on changes of GDP on the data base will be published on 10.06.2009.
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