Latvia Economic and Defence Update

INVESTMENT AND EXPORT DRIVEN ECONOMIC GROWTH Sound fundamentals support economic activity, increase resilience to external shocks GDP components (Q4 2022/average 2015; %; in real terms; s.a) GDP 16 Private consumption 18 Source: Eurostat GDP in Q4 2022 compared to 2015 average (%; s.a.) and GDP forecast (y/y; %) 18 16 14 12 LV 26 EU27 10 8 6 Investment 24 Export 0 20 20 34 34 40 4 2 0 2022_Q4 2023 F Source: Eurostat; F- European Commission February 2023 forecast 2024 F

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