Latvia's Economic and Financial Outlook
Growth Accelerated in 2018 and Remains Elevated Today
Latvia is among the top 5 fastest growing countries in the EU with a 3.1% average growth in the last 6 years. Robust growth is currently
supported by strong domestic demand, private investment inflows, the EU funding cycle and favourable foreign trade conditions.
Real GDP Growth
(%)
GDP Growth Composition (%)
3.6
2.9
2.5
2.3
2.5
2
1.7 1.8
1.7
1.2
0.6
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
5.1 5.7
5.3
4.7
4.3
4.9 4.6
5.1
3.5
3.2
3
2.6
0.7
0.7
2.8
0.6
0.5
0.5
0.3
9.8
0.7
2.6
2.8
0.9
0.9
-2.1
-1.7
-2.2
Q1
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Q2 Q3 Q4 Q1
2016
2017
2018
2019
Y-o-y
2014
2015
■Private consumption Public consumption
Source: Central Statistical Bureau of Latvia
2016
2017
■Gross capital formation
2018
■Net exports
2014
2015
Q-o-q
Source: Central Statistical Bureau of Latvia
Real GDP Growth
(%)
6.4%
4.0%
3.0%
2.4%
2.1%
1.9%
4.8%
4.6%
3.2%
2011
2012
2013
2014
2015
2016
2017
2018
2019F
Source: Central Statistical Bureau of Latvia, Ministry of Finance
10
4.8%
GDP Growth
(2018, %)
EU-28: 1.9 %
Latvia
A/A3/A-
Austria
Estonia
Czech
France Belgium
AA-/A1/AA- AA-/A1/AA- AA+/Aa1/AA+AA+/Aa1/AA+ AA/Aa2/AA AA/Aa3/AA-
Finland
Source: EurostatView entire presentation