Latvia’s key economic data and forecasts
|
|
2017 |
2018 |
2019p |
2020p |
2021p |
|---|---|---|---|---|---|
|
GDP growth (%) |
4.6 |
4.8 |
2.4* |
2.0 |
2.5 |
|
GDP at current prices (mln EUR) |
26797 |
29151 |
30690 |
32070 |
33770 |
|
Consumer prices index (% annual average) |
2.9 |
2.5 |
2.8 |
2.1 |
2.5 |
| Fiscal balance of the Government consolidated budget (ESA 95, % of GDP) |
-0.5 |
-0.7 |
-0.9 |
-0.9 |
-0.9 |
| Current account balance (% of GDP) |
-0.8 |
-1.0 |
-0.4 |
-1.4 |
-1.5 |
| Foreign direct investment flow (mln EUR) |
591 |
843 | 800 | 650 | 600 |
| Cumulative foreign direct investment (mln EUR) |
16014 |
16172 |
- |
- |
- |
| Foreign trade balance (% of GDP) |
-9.8 |
-10.6 |
-9.0 |
-9.5 |
-10.5 |
| Government foreign debt (mln EUR) |
10782 |
10608 |
- |
- |
- |
| Manufacturing output (% yoy) |
8.2 |
3.4 |
2.0 |
2.5 |
2.8 |
| Retail trade turnover (% yoy) |
4.2 |
4.0 |
1.8 |
2.5 |
3.0 |
| Unemployment rate (%, end of period) |
6.8 |
6.4 |
6.2 |
6.4 |
6.7 |
| Job seekers rate (%, end of period) |
8.1 |
6.9 |
6.5 |
5.9 |
6.1 |
|
Average gross salary growth (% yoy) |
7.9 |
8.4 |
7.9 |
6.5 |
5.9 |
| Standard & Poor’s long-term credit rating |
A- |
A |
- |
- |
- |
* Provisional data. SEB banka’s forecasts.
Last updated: 27.01.2020
Dainis Gašpuitis
Macroeconomics Expert
Telephone: +371 67779994, dainis.gaspuitis@seb.lv