Portrait of an Ascending Sovereign Credit
The economy is recovering rapidly from Covid-19 pandemic impact
The Covid-19 pandemic had negative effect on economic growth, but in 2021 Q3 the economy exceeded pre-Covid-19 levels
Real GDP Growth (seasonally adjusted data, %)
GDP Growth Composition (%)
4.3
3.9
3.6
0.8
-0.2
-8.4
10.5
4.7
2.4
3.5
1.4
2.7
1.2
2.0
1.8
1.8
-1.5
-1.4
2014
2015
2016
2017
2018
2019
2020
2021
Q-o-q
Y-o-y
Source: Central Statistical Bureau of Latvia, 2021 Q3* Flash estimations (16.11.2021.)
1.9%
3.9%
2014
2015
Real GDP Growth
(%)
4.0%
3.3%
2.4%
2.5%
2015
9.8
1.0
1.3
-4.4
-5.9
2016
2017
Public consumption
2018
2019
2020
2021 1Q-2Q
Gross capital formation
■Net exports
■Private consumption
Source: Central Statistical Bureau of Latvia (20.10.2021.)
GDP Growth (2020, %)
-3.6%
EU Averadge (27 countries) -5,9%
2016
2017
2018
2019
-3.6%
2020
Finland
Estonia
Latvia
AA+/Aa1/AA+ AA-/A1/AA- A+/A3/A-
Belgium
Czechia
Austria
France
AA/Aa3/AA AA-/Aa3/AA- AA+/Aa1/AA+ AA/Aa2/AA
Source: Central Statistical Bureau of Latvia (20.10.2021)
9
Source: Eurostat (20.10.2021.)View entire presentation