In 2016, GDP will rise by 3%. The slump in Russian demand can be offset by growth in exports to the EU and Asian markets. Household consumption will develop markedly, thanks to labour market improvements and a rapid rise in real wages, but investment growth will remain comparatively low. GDP growth will speed up to 3.2% in 2017 and 3.5% in 2018, driven by stronger external demand and greater investment activity in both the public and private sectors.

map Latvia
Main Economic Indicators201320142015201620172018
Population, 1000 persons.201319941978...
GDP, real change in %
GDP per capita (EUR at PPP)167001750018500...
Gross industrial production, real change in %-0.9-1.03.6...
Unemployment rate - LFS, in %, average11.910.
Average gross monthly wages, EUR717765818...
Consumer prices, % p.a.
Fiscal balance in % of GDP-0.9-1.6-1.3...
Public debt in % of GDP39.040.736.4...
Current account in % of GDP-2.7-2.0-0.8-2.0-2.5-3.0
FDI inflow, EUR mn743813684...
Gross external debt in % of GDP133.7143.1141.7...

Basic data are continuously updated.

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


Monthly Report No. 7-8/2016

Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Simona Jokubauskaite, 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 1 Figure



LATVIA: Growing wages push domestic demand

Sebastian Leitner
in: Growth Stabilises: Investment a Major Driver, Except in Countries Plagued by Recession
wiiw Forecast Report No. Spring 2016, , pp. 90-93
Details and Buy