Analytics, Economics, EU – Baltic States, GDP

In the second quarter of 2012, Latvia's GDP increased 4.3% from the respective period in 2011, reports LETA.

The second largest year-on-year growth was recorded in Slovakia – 2.9 %. Lithuania's GDP grew by 2.7%, the third largest growth in the EU.

Estonia's GDP increased by 2.5%, the fourth fastest growth across the EU.

Of the 21 member states covered in the report, 11 registered increases in their GDP, while ten member states' GDP decreased.

The largest year-on-year reduction was recorded in Greece – 6.2%, followed by Portugal – 3.3% and Italy – 2.5%.

Compared to the second quarter of 2011, the EU's GDP decreased 0.2% in the second quarter of 2012, the eurozone's – 0.4%.

Compared to the first quarter of 2012, Latvia's GDP increased 1% in the second quarter of 2012.

The fastest quarter-on-quarter growth was registered in Sweden – 1.4%, the third fastest – in Slovakia – 0.7%.

Compared to the first quarter of 2012, nine member states' GDP decreased in the second quarter of 2012, ten registered increases, whereas France's GDP remained unchanged. The largest quarter-on-quarter reductions were registered in Portugal – 1.2%, Finland – 1%, and Cyprus – 0.8 %.

In comparison with the first quarter of 2012, the GDP of both the EU and the eurozone reduced 0.2%.

Year-on-year information on Greece is seasonally unadjusted.