On changes of Gross Domestic Product in the 3rd quarter of 2009

09.12.2009

Compared to the same period of 2008 gross domestic product (GDP) in the 9 months of 2009 has decreased by 18.6%, according to the seasonally non-adjusted data* of the Central Statistical Bureau of Latvia.


Compared to the 3rd quarter of 2008, in the 3rd quarter of 2009 GDP has diminished by 19.0%.

Production approach

The decrease in GDP was due to the drop in the following sectors: trade (share in GDP structure – 15.6%) - by 28.7%, transport and communications (12.5%) – by 18.2%, manufacturing (10.2%) – by 17.4% and construction (7.5%) – by 36.0%.

Changes in the main activities in the 3rd quarter of 2009
(at constant prices, % of the corresponding quarter of the previous year)

Retail trade

Transport and communications

Manufacturing

Construction

Changes of GDP in the 3rd quarter of 2009 by kind of economic activity
(NACE rev. 1.1, at constant prices, % of the corresponding quarter of the previous year)

Expenditure approach

Increase of gross domestic product by main expenditure items

at current prices, % of the corresponding quarter of the previous year

at constant prices, % of the corresponding quarter of the previous year

 

In the 3rd quarter of 2009 compared to the 3rd quarter of 2008 (at current prices) in private final consumption expenditure on food has decreased by 17.2%, on transport – by 20.9%, oh restaurants and hotels – by 48.4%, on clothing and footwear – by 50.6%.

Reduction in private final consumption at constant prices is continued bypurchase volume reduction by 28.1%. Government final consumption expenditure decreased by 12.4%, but expenditure on gross capital formation – by 39.4%. Export of goods (68.2% of total exports) has dropped by 11.7% and exports of services – by 20.5%. However, volume of imports of goods (82.1 % of total imports) has decreased by 36.6%, but volume of imports of services – by 29.1%.

CHANGES OF GROSS DOMESTIC PRODUCT IN THE BALTIC COUNTRIES
(at constant prices, % of the corresponding period of the previous year)

* Seasonally adjusted data on changes of GDP will be published in the data base on 10.12.2009.

 

Prepared by National Accounts Section
Elita Kalniņa
Tel. 67366961