Latvia Stability Programme Report
THE ECONOMY RECOVERED RAPIDLY FROM COVID-19 PANDEMIC IMPACT
The economy in 2021 exceeded pre-Covid-19 levels, and while geopolitical tension could
dampen its strong recovery in 2022, prospects remain promising
Real GDP Growth (seasonally adjusted data, %)
GDP Growth Composition (%)
4.3
3.9
3.6
.9
0.8
-8.7
-0.4
10.1
6.4
2.4
3.5
2.4
1.4
2.7
1.2
2.0
1.8
1.8
-1.5
-1.4
3.0
7.1
8.7
2.7
-4.3
-5.3
-5.2
2015
2016
2017
2018
2019
2020
2021
2022 Q1
2015
2016
2017
2018
2019
2020
2021 2022
■Private consumption
Q-o-q
Y-o-y
Source: * Flash estimate; Central Statistical Bureau of Latvia (29.06.2022.)
Real GDP Growth
(%)
■Gross capital formation.
Source: Central Statistical Bureau of Latvia (29.06.2022.)
GDP Growth in comparison (2021, %)
Public consumption
■Net exports
3.9%
4.0%
3.3%
2.4%
2.5%
4.5%
13.5%
8.3% 8.1%
6.8%
6.2%
5.0%
EU Average (27 countries): 5.4%
4.8% 4.5%
-3.8%
2015
2016
2017
2018
2019
2020
2021
TT
3.3% 3.0% 3.0%
Ireland
Estonia Slovenia France
Belgium Lithuania Austria
Latvia
Czechia Finland Slovakia
Source: Central Statistical Bureau of Latvia (17.05.2022)
10
Source: Eurostat (29.06.2022.)View entire presentation