Gross domestic product in 2007 increased by 10.2%

10.03.2008

Compared to the previous year, gross domestic product (GDP) in 2007 increased by 10.2%, according to the Central Statistical Bureau. In 2006 the increase of GDP comprised 11.9%, in 200510.6%.

Compared to the corresponding period of previous year, in the 4th quarter of 2007 GDP increased by 8.0%.

MANUFACTURING ASPECT

Changes of gross domestic product by kind of activity in 2007
(at constant prices, % of the previous year)

A Agriculture, hunting and forestry;
B fishery;
C Mining and quarrying;
D manufacturing;
E Electricity, gas and water supply;
F Construction;
G Trade;
H Hotels and restaurants;
I Transport and communications;
J Finances;
K Business services;
L Public administration and defence; compulsory social security;
M education;
N Health and social work;
O Other community, social and personal service activities

Changes in the key sectors in the 4th quarter of 2007
(at constant prices, % of the corresponding quarter of the previous year)

The increase in GDP was due to the rises in the following sectors: trade (share in GDP structure–19.0%) – by 6.4%, in the sector of business services (15.9%) – by 10.4%, in transport and communications (11.5%) - by 11.6%, in construction (8.3%) – by 12.4%. However, in manufacturing, which composes 10.2% from GDP, the decrease by 3.1% is being observed.

Retail trade

Transport and communications

Manufacturing

Construction


EXPENDITURE ASPECT

Changes of the gross domestic product by kind of expenditure in 2007
(at constant prices, % of the previous year)

Compared to the corresponding period of previous year, in 2007 the volume of the total final consumption expenses increased by 12.3%. Gross capital formation during a year has increased by 16.3%.

Exports of goods and services has increased by 10.3%. Meanwhile, the volume of import of goods and services increased by 16.6%.

Compared to the corresponding period of the previous year, in the 4th quarter of 2007,a slow down of increase rate of several expenditure indicators was observed. The increase in final consumption expenses comprised 4.4%, but in gross capital formation – only 2.2%. Exports of goods and services has increased by 13,3%. Meanwhile, the volume of import of goods and services increased by 2,6%.

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

Estonia 4th quarter of 2007 primary estimate, Lithuania – secondary estimate.

Responsible for the publication A. Vanaga, tel. 67366671
© Central Statistical Bureau of the Republic of Latvia, 2008
Reference mandatory in case of re-publication and quoting.