On changes of Gross Domestic Product in the 4th quarter of 2009

11.03.2010

Compared to 2008 gross domestic product (GDP) in the 2009 has decreased by 18.0%, according to the seasonally non-adjusted data* of the Central Statistical Bureau of Latvia.

Compared to the 4th quarter of 2008, in the 4th quarter of 2009 GDP has diminished by 16.9%.

Production approach

The decrease in GDP was due to the drop in the following sectors: trade (share in GDP structure – 14.1%) - by 31.4%, transport and communications (11.0%) – by 10.3%, manufacturing (10.6%) – by 9.0% and construction (6.1%) – by 38.5%.

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

Change of gross domestic product by main expenditure items

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

 

Compared to the 4th quarter of 2008 (at current prices), in the 4th quarter of 2009 in final private consumption expenditure on alcoholic beverages, tobacco has decreased by 9.3%, on food – by 19.6%, on transport – by 37.1%, on clothing and footwear – by 37.2%, on restaurants and hotels – by 40.4%.

Decrease ofpurchase volume in private final consumption at constant prices continued. Government final consumption expenditure decreased by 14.3%, but expenditure on gross capital formation – by 38.4%. Export of goods (72.9% of total exports) has grown by 6.0% and exports of services reduced by 28.5%. However, volume of imports of goods (84.4% of total imports) has decreased by 25.7%, but volume of imports of services – by 33.8%.

Compared to 2008, in 2009 (at current prices) in private final consumption expenditure on food decreased – by 16%, on alcoholic beverages and tobacco – by 19%, on transportation – by 25.1%, on restaurants and hotels – by 43%, on clothing and footwear – by 44.7%.

In 2009 decrease ofpurchase volume reduction in private final consumption (at constant prices) continued. Government final consumption expenditure decreased by 9.2%, but expenditure on gross capital formation – by 37.7%. Export of goods (66.2% of total exports) has dropped by 12.0% and exports of services – by 17.4%. However, volume of imports of goods (83.2% of total imports) has decreased by 34.2%, but volume of imports of services – by 34.2%.

 

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 on the data base will be published on 12.03.2010

 

Prepared by National Accounts Section
Elita Kalniņa
Tel. 67366961