Following weak growth in 2018, external demand is improving again this year, particularly from North European countries. High capacity utilisation stimulates private investment in machinery and equipment. Household consumption will rise at a somewhat slower pace, since skill shortages result in strongly rising wages, but lower employment growth. In 2019 we expect GDP to grow still considerably, by 3.3% in real terms, followed by a slowdown to 3.1% in 2020 and 2.7% in 2021.

map Latvia
Main Economic Indicators201620172018201920202021
Population, 1000 persons196019421930...
GDP, real change in %
GDP per capita (EUR at PPP)188002000021700...
Gross industrial production, real change in %
Unemployment rate - LFS, in %, average9.
Average gross monthly wages, EUR8599261010...
Consumer prices, % p.a.
Fiscal balance in % of GDP0.1-0.6-1.0...
Public debt in % of GDP40.340.035.9...
Current account in % of GDP1.60.7-1.0-0.2-0.5-0.6
FDI inflow, EUR mn2221024344...
Gross external debt in % of GDP148.6140.3120.9...

Basic data are continuously updated.

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


Monthly Report No. 6/2019

Vasily Astrov, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Hermine Vidovic and Goran Vuksic
wiiw Monthly Report No. 6, June 2019
27 pages including 24 Tables and 1 Figure



LATVIA: Beyond peak, but growth further bolstered by investment

Sebastian Leitner
in: Moving Into the Slow Lane
wiiw Forecast Report No. Spring 2019, March 2019 , pp. 100-103
Details and Buy