Latvia Economic and Defence Update

19 STRUCTURAL TRANSFORMATION TOWARDS MORE PRODUCTIVE SECTORS Economic recovery from pandemic is dominated by several higher income sectors; a shift towards higher value-added services is evident over the long run Value added by sectors (Q4 2022/average 2019; %; s.a.) Export income of rail transport and ICT services (million EUR) 15 10 35 30 25 20 GSTENS u 5 ...... 0 -5 -10 -15 -20 -25 -30 Source: Central Statistical Bureau Construction 1200 1000 Rail transport -ICT 800 600 400 200 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Source: Latvijas Banka

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