In the 2nd quarter Gross Domestic Product increased by 4.4%


Data compiled by the Central Statistical Bureau show that Gross Domestic Product (GDP) at current prices in the 2nd quarter of 2013 was 4.03 bln lats.

According to seasonally non-adjusted data, in the 2nd quarter of 2013, compared to the 2nd quarter of 2012, GDP at constant prices has grown by 4.4%, but, according to seasonally adjusted data, compared to the 1st quarter of 2013, it has increased by 0.7%.

Changes of GDP volume, 1st quarter 2011 - 2nd quarter 2013

 (at constant prices, %)

Data source: Central Statistical Bureau of Latvia

Production approach

In the 2nd quarter of 2013, compared to the 2nd quarter of 2012, largest contribution to the GDP rise (1.1 percentage points) was ensured by increase in the following activities: in trade – of 6.2%, of which in retail trade – of 6.3% (increase of which was accelerated by rise of 7% in retail sale with non-food products, of 4% in retail sale with food products and of 10% in retail sale with automotive fuel).

Compared to the corresponding quarter of the previous year, construction has increased by 5.3%. Construction of residential buildings increased by 41%, but investment in construction of highways, streets and roads, as well as in construction of industrial buildings and warehouses reduced by 5% and 18%, respectively.

Taxes on products collected (value added, excise, duty taxes) were 9.2% more, which increased GDP growth rate by 0.7 percentage points.

In the 2nd quarter of 2013 manufacturing rate slowed down by 0.6%, which reduced total GDP rate by 0.1 percentage point. It was affected by reduction of rate in manufacture of wood and of products of wood (21.9% of total manufacturing) – of 0.2%, in manufacture of chemicals and chemical products (3.4%) – of 22.2%, as well as in manufacture of basic metals (1.3%) – of 63.9%. Manufacture of food products rose by 5% (19.7%).

Changes of GDP in the 2nd quarter of 2013 by kind of economic activity

at constant prices, % over 2nd quarter of 2012

NACE Rev. 2 activities

Data source: Central Statistical Bureau of Latvia

agriculture, forestry and fishing (A);


Structure of activities at current prices, %

manufacturing (C);


other industry (BDE);


construction (F);


trade (G);


transportation and storage (H);


accommodation and food service activities (I);


information and communication (J);


financial and insurance activities (K);


real estate activities (L);


commercial services (MNS);


public administration and defence; compulsory social security (O);


education (P);


human health and social work activities (Q);


arts, entertainment and recreation (R);


taxes on product minus subsidies on products (D.21-D.31)


Expenditure approach

In the 2nd quarter of 2013, compared to the 2nd quarter of 2012, private final consumption at current prices grew by 6.6%. Rise was recorded within the main groups of final consumption expenditure: on housing maintenance (28% of the total expenditure) – of 1.5%, on food (20%) – of 2.8%, and on transport (15%) - of 3.7%. Gross fixed capital formation increased by 0.8%. Export of goods (72% of total exports) has risen by 6.1% and exports of services – by 1.2%. Volume of imports of goods (85% of total imports) has reduced by 2.8%, but imports of services – by 5.1%. But government final consumption grew by 12.1%.

Gross domestic product by main expenditure items

Data source: Central Statistical Bureau of Latvia

Compared to the 2nd quarter of 2012, private final consumption in the 2nd quarter of 2013 at constant prices grew by 6.6%, of which expenditure on housing rose by 0.4%, expenditure on food – by 1.0%, and expenditure on transport – by 6.6%. Increase of the private final consumption had a positive effect on the total GDP rate – of 4.7 percentage points. Expenditure on gross fixed capital formation reduced by 1.8%, which had a negative effect on the GDP – of 0.6 percentage points. Government final consumption grew by 5.8%, thus increasing total GDP rate by 0.8 percentage points.  Export of goods increased by 2.7% and export of services – by 1.3%. They increased the GDP by 1.4 percentage points. In its turn, import of goods decreased by 3.5%, while import of services – by 7.5%. Imports reduction had a positive impact on the GDP of 2.9 percentage points.

Changes of Gross Domestic Product in the Baltic Countries
(at constant prices, % of the corresponding period of the previous year)

* for Estonia on the 2nd quarter of 2013 –  flash estimate data

Data source: Central Statistical Bureau of Latvia, Statistics Lithuania, Statistics Estonia


More information:
Elita Kalniņa
Quarterly National Accounts Section
Tel. + 371 67366961