Analytics, Baltic, Banks, Economics, GDP

International Internet Magazine. Baltic States news & analytics Tuesday, 18.06.2019, 10:12

SEB expects Latvia to remain fastest growing economy in Nordic region in 2019 and 2020

BC, Riga, 23.01.2019.Print version
This and next year, the Latvian economy will continue to show fastest growth in the Nordic region, representatives of Latvia’s SEB Banka told LETA, citing SEB Bank’s latest Nordic Outlook.

According to the bank’s analysts, Lithuania’s gross domestic product (GDP) will grow by 2.9% in 2019 and by 2.4% in 2020. At the same time, the Estonian economy will expand by 2.8% in 2019 and by 2.5% in 2020.

Latvia’s economic growth, meanwhile, is projected at 3.5% this year and 3.2% next year.

“After robust performance in 2018, the fast-growing Baltic economies will lose some of their speed this year. This will be caused by weaker demand on export markets. Also, producers will no longer be able to produce the amount of goods and services necessary for higher growth speeds,” the bank’s representatives said.

In 2018, Latvia’s GDP grew by 4.5%, the Lithuanian economy expanded by 3.4% and Estonia’s GDP increased by 3.6%.

SEB Banka is the third largest bank in Latvia by assets.

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