On Flash Estimate of Gross Domestic Product in the 1st quarter of 2012


In accordance with the flash estimate of the CSB*, compared to the 1st quarter of 2011, Gross Domestic Product (GDP) volume in the 1st quarter of 2012 increased by 6.8%, according to seasonally non-adjusted data. The growth in industry of 11% and in trade of 10% had a positive effect on the GDP; also the volume of the collected taxes on products increased by 20%. Construction sector continues to grow as well.

Compared to the 4th quarter of 2011, the GDP in the 1st quarter of 2012 increased by 1.0%, according to seasonally adjusted data.

GDP volume changes in the 1st QTR 2009 - 1st QTR 2012, at constant prices

More precise and extended rate and value of the GDP in the first quarter of 2012 will be published in the press release of 8 June 2012.

Prepared by Quarterly National Accounts Section
Tel. 67366961
Elita Kalniņa

* Flash estimate includes forecast for changes in the economy at constant prices. Calculations are based on currently available short-term statistical data and econometric models.