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Saturday, 20.04.2024, 03:10
Latvia again registers steepest GDP reduction in EU in 5 months
Nina Kolyako, BC, Riga, 13.08.2010.
Print version
Print versionLatvia's gross domestic product fell 3.9% in the second quarter of the year 2010 as compared with the second quarter of 2009, which was the largest decrease among all the European Union member states, according to the latest Eurostat data.
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Latvia had also registered the steepest GDP decrease in the first quarter of this year, and the fourth and third quarters of last year, informs LETA.
In the second quarter of the year, only four EU countries registered GDP reductions – Bulgaria's GDP contracted 1.5%, Greece registered a 3.5% GDP reduction, Spain – 0.2%, and Cyprus – 0.2%. The entire EU's GDP increased 1.7%, including a 1.7% rise in the eurozone.
Eurostat also reports that, compared to the first quarter of the year, Latvia's GDP increased 0.1%, which was the lowest increase in the EU.
Compared to the first quarter of last year, GDP increased by 0.1% in both the euro area and the EU in the first quarter.
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