Latvia’s key economic data and forecasts
|
|
2017 |
2018 |
2019 |
2020p |
2021p |
|---|---|---|---|---|---|
|
GDP growth (%) |
4.6 |
4.8 |
2.2 |
-9.0 |
5.0 |
| GDP at current prices (mln EUR) |
26797 |
29056 |
30476 |
- |
- |
|
Consumer prices index (% annual average) |
2.9 |
2.5 |
2.8 |
0.3 |
1.8 |
|
Fiscal balance of the Government consolidated budget (ESA 95, % of GDP) |
-0.5 |
-0.7 |
-0.2 |
-8.0 |
-5.0 |
|
Current account balance (% of GDP) |
1.0 |
-0.7 |
-0.5 |
0.5 |
-0.5 |
|
Foreign direct investment flow (mln EUR) |
591 |
842 | 706 | 500 | 650 |
|
Cumulative foreign direct investment (mln EUR) |
16014 |
16172 |
17032 |
- |
- |
|
Foreign trade balance (% of GDP) |
-9.8 |
-10.6 |
-9.7 |
-9.5 |
-10.5 |
|
Government foreign debt (mln EUR) |
10782 |
10816 |
11245 |
- |
- |
|
Manufacturing output (% yoy) |
8.2 |
3.4 |
2.0 |
-9.3 |
6.5 |
|
Retail trade turnover (% yoy) |
4.2 |
4.0 |
2.3 |
-8.2 |
5.5 |
|
Unemployment rate (%, end of period) |
6.8 |
6.4 |
6.2 |
10.5 |
9.5 |
|
Job seekers rate (%, end of period) |
8.1 |
6.9 |
6.0 |
11.8 |
8.6 |
|
Average gross salary growth (% yoy) |
7.9 |
8.4 |
7.2 |
1.0 |
3.0 |
| Standard & Poor’s long-term credit rating |
A- |
A |
A |
A+ |
- |
* Provisional data. SEB banka’s forecasts.
Last updated: 06.05.2020
Dainis Gašpuitis
Macroeconomics Expert
Telephone: +371 67779994, dainis.gaspuitis@seb.lv