For 2015, our GDP growth forecast for Latvia remains almost unchanged at 2.4%. As expected, the slump in Russian demand has been offset by growth in exports to the EU and Asian markets. While household consumption is developing at a good pace, investment activity remains stagnant. In both 2016 and 2017 we expect an upswing in GDP growth to 3%, driven by stronger external demand and investment activity in both the public and private sectors.

map Latvia
Main Economic Indicators201220132014201520162017
Population, 1000 persons.203420131994...
GDP, real change in %
GDP per capita (EUR at PPP)158001660017200...
Gross industrial production, real change in %6.2-0.9-1.1...
Unemployment rate - LFS, in %, average15.011.910.
Average gross monthly wages, EUR690717765...
Consumer prices, % p.a.
Fiscal balance in % of GDP-0.8-0.9-1.6...
Public debt in % of GDP41.439.140.8...
Current account in % of GDP-3.3-2.4-2.0-2.0-3.5-3.7
FDI inflow, EUR mn840743661...
Gross external debt in % of GDP137.6133.7142.2...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


LATVIA: Growing below potential

Sebastian Leitner
in: Mixed Prospects: Consumption Leads Fragile Recovery in the CESEE Core – CIS Stumbles
wiiw Forecast Report No. Autumn 2015, , pp. 91-93
Details and Buy


Monthly Report No. 7-8/2015

Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8,
25 pages including 1 Table and 2 Figures