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International Internet Magazine. Baltic States news & analytics Saturday, 08.08.2020, 09:19

GDP in Latvia dropped by 9.8 % in Q2

Diāna Krūmiņa, Statistics Latvia, Riga, 31.07.2020.Print version
Flash estimate of the Central Statistical Bureau (CSB) shows that in the 2nd quarter of 2020, compared to the 2nd quarter of 2019, gross domestic product (GDP) volume decreased by 9.8 % (according to seasonally and calendar non-adjusted data).

According to provisional calculations, the GDP was affected by output drop in producing sectors of 3.8 % and in services sectors – of 11.0 %, of which in retail trade – of 1.6 %. Also, the volume of taxes on products collected reduced.


Compared to the 1st quarter of 2020, GDP fell by 7.5 % (according to seasonally and calendar adjusted data).




Calculation methods used in GDP flash estimate are equivalent to methods used in previous periods.


COVID-19 crisis in time-series analysis area at the moment are considered as occurrence that is not seasonal, therefore, impact of crisis is not excluded from the data when carrying out seasonal adjustment. It must be taken into account that during the crisis both unadjusted and seasonally adjusted data may be potentially exposed to greater data revisions than they were in a pre-crisis period. More information on seasonal adjustment during the COVID-19 crisis is available at https://github.com/CSBLatvia/SA-COVID-19-public/blob/master/SA-COVID-19-EN.md.


Press release on the precise volume of and changes in the GDP in the 2nd quarter of 2020 will be published on 31 August.








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