On changes of Gross Domestic Product in the 3rd quarter of 2010

09.12.2010

Compared to the third quarter of 2009 gross domestic product (GDP) in the third quarter of 2010 has increased by 2.9%, according to the seasonally non-adjusted data of the Central Statistical Bureau of Latvia.

Compared to the 2nd quarter of 2010, GDP volume in the 3rd quarter of 2010 rose by 0.9%, but in comparison with the 3rd quarter of 2009*, the growth comprised 2.5%, according to seasonally adjusted data.

Year

Gross Domestic Product

(seasonally non-adjusted data)

Gross Domestic Product per capita

mln LVL

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

LVL

at current prices

at constant prices of 2000

at current prices

at constant prices of 2000

 

 

 

 

 

 

2009

13 083

6 828

82.0

5 802

3 028

1st quarter

3 309

1 556

82.2

1 464

688

2nd quarter

3 340

1 710

81.9

1 480

758

3rd quarter

3 221

1 751

80.9

1 429

777

4th quarter

3 213

1 811

83.2

1 428

805

 

 

 

 

 

 

2010

 

 

 

 

 

1st quarter

2 853

1 463

94.0

1 270

651

2nd quarter

3 143

1 675

97.9

1 402

747

3rd quarter

3 286

1 801

102.9

1 469

806

Production approach

The GDP changes were due to the rises in the following sectors: trade (share in GDP structure – 17.4%) - by 11.1%, transport and communications (13.8%) – by 5.4%, and manufacturing (12.6%) – by 20.2%. Reduction was still observed in construction (6.4%) – of 13.1%.

Changes of GDP in the 3rd quarter of 2010 by main kind of economic activity
(NACE rev. 1.1, at constant prices, % of the corresponding quarter of the previous year)
A Agriculture, hunting and forestry;
B Fishing;
C Mining and quarrying;
D Manufacturing;
E Electricity, gas and water supply;
F Construction;
G Wholesale, retail trade; repair of motor vehicles, motorcycles, personal, household goods;
H Hotels and restaurants;
I Transport and communications;
J Financial intermediation;
K Real estate, renting and business activities;
L Public administration and defence; compulsory social security;
M Education;
N Health and social work;
O Other community, social and personal service activities;
D.21-D.31 product taxes minus subsidies

 

Impact of production approach components on changes of Gross Domestic Product
(at constant prices, percentage points)

 

Changes in the main activities in the 3rd quarter of 2010
(at constant prices, % of the corresponding quarter of the previous year)
Retail tradeTransport and communications
ManufacturingConstruction

Expenditure approach

Compared to the 3rd quarter of 2009 private final consumption on the 3rd quarter of 2010 grew by 3.3% (at current prices). Most notable expenditure in private final consumption had housing maintenance, it decreased by 2.2%, food – increase of 0.4% and transport – rise of 8.0%. Also gross fixed capital formation grew by 2.0%, as well as import - by 25.2% and export – 26.7%. But government final consumption reduced by 10.1%.

Increase of Gross Domestic Product by main expenditure items, at current prices, % of the corresponding quarter of the previous year

Compared to the 3rd quarter of 2009, purchase volume in the private final consumption in the 3rd quarter of 2010 grew by 2.5% (at constant prices). Government final consumption expenditure decreased by 2.3%, but expenditure on gross capital formation did not change. Export of goods (70.4% of total export) has increased by 21.7% and export of services – by 1.5%. However, volume of import of goods (81.1 % of total import) has increased by 17.2%, but volume of import of services has decreased by 7.6%.

Increase of Gross Domestic Product by main expenditure items, at constant prices, % of the corresponding quarter of the previous year

 

Impact of use approach components on changes of Gross Domestic Product  (at constant prices, percentage points)

 

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

* According to the calculation methodology, when new period is added, seasonally adjusted time series is changing. New time series is available in CSB data base.

 

Prepared by Quarterly National Accounts Section
Tel. 67366961
Elita Kalniņa