GDP flash estimate: in the 2nd quarter growth of 2.5%

11.08.2014

In the 2nd quarter of 2014 as compared to the 2nd quarter of 2013 Gross Domestic Product (GDP) volume (seasonally unadjusted data) increased by 2.5%, according to the flash estimate of the CSB.

The GDP was affected by the value increase of 4% in retail trade. Increase in construction accounted for 16%. In services (except trade) and in manufacturing the indicator stayed at the level of the 2nd quarter of 2013, while industry in total witnessed a decline of 1%.

According to seasonally adjusted data as compared to the 1st quarter of 2014 the GDP in the 2nd quarter of 2014 grew by 1.0%.

Changes of GDP volume at constant prices, 1st quarter 2012 - 2nd quarter 2014

Data source: Central Statistical Bureau of Latvia

The GDP rate and value in accordance with the new European System of Accounts (ESA 2010) will be published in the second half of September (date to be confirmed).

 

More information:
Elita Kalniņa
Quarterly National Accounts Section
Tel. +371 67366791