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The good mood of Latvian consumers at the brink of euro accession is further pushing economic activity. While in the service sector employment and wages are rising substantially, investments in the manufacturing sector are sluggish. The weak demand growth in the main export destinations remains an obstacle for the sustainability of the current growth path.
|Main Economic Indicators||2011||2012||2013||2014||2015||2016|
|Population, 1000 persons.||2060||2034||2015||.||.||.|
|GDP, real change in %||5.3||5.2||4.0||3.9||4.1||.|
|GDP per capita (EUR at PPP)||15000||16400||17500||.||.||.|
|Gross industrial production, real change in %||9.0||6.1||-0.8||.||.||.|
|Unemployment rate - LFS, in %, average||15.4||15.0||11.7||11.0||10.0||.|
|Average gross monthly wages, EUR||657||690||720||.||.||.|
|Consumer prices, % p.a.||4.2||2.3||0.0||2.0||2.5||.|
|Fiscal balance in % of GDP||-3.6||-1.4||-1.3||.||.||.|
|Public debt in % of GDP||41.9||40.6||41.0||.||.||.|
|Current account in % of GDP||-2.1||-2.5||-0.9||-2.5||-2.3||.|
|FDI inflow, EUR mn||1039||871||632||.||.||.|
|Gross external debt in % of GDP||145.8||135.3||134.5||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Latvia: Between Scylla and Eurybdis, ready for taking a dive
in: Animal Spirits still Dimmed: Slow Recovery Expected
wiiw Current Analyses and Forecasts No. 12, July 2013 , pp. 83-85 Details and Buy
Monthly Report No. 11/2013
Vasily Astrov, Vladimir Gligorov, Peter Havlik, Mario Holzner and Olga Pindyuk
wiiw Monthly Report No. 11, November 2013
38 pages including 17 Tables Details