Gross domestic product in nine months of 2007 has grown by 11.0%

07.12.2007

Compared to the corresponding period of previous year, gross domestic product (GDP) in nine months of 2007 has increased by 11.0%, according to the Central Statistical Bureau.

Compared to the corresponding period of previous year, in the 3rd quarter of this year the GDP has increased by 10.9%.

PRODUCTION APPROACH

Changes of GDP in the 3rd quarter of 2007 by kind of economic activity
(At constant prices, % of the corresponding quarter 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

The increase in GDP was due to the rises in the following sectors: trade (share in GDP structure –20.1%) – by 14.5%, in the sector of business services (15.3%) – by 10.2%, in transport and communications (13.1%) - by 10.4%, in construction (9.2%) – by 13.2%. But in manufacturing, which share in GDP is 10.7%, there has been noticeable decrease of 0.3%.

Changes in the key sectors in the 3rd quarter of 2007
(at constant prices, % of the corresponding quarter of the previous year)

Retail trade

Transport and communications

Manufacturing

Construction

EXPENDITURE APPROACH

Changes of gross domestic product by major expenditure items
(At constant prices, % of the corresponding quarter of the previous year)

Changes of GDP in the 3rd quarter of 2007 by kind of economic activity
(At constant prices, % of the corresponding quarter of the previous year)

The increase of the final consumption expenditure was encouraged by the final consumption expenditure of households and non-profit organizations attending them which grew by 14.4%. But the final consumption expenditure of state administration institution rose by 6.1%. The share of both mentioned indicators in the GDP was 66% and 16%, respectively.

The exports of goods and services increased by 11.1%, but the growth of imports of goods and services, in turn, comprised 15.5%. The volume of exports reached 42%, but the volume of imports – 64% of the gross domestic product.

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

ESTONIA 3rd quarter of 2007 – primary estimate, LITHUANIA – secondary estimate

Responsible for the publication E. Kalniņa, tel. 7366671
© Central Statistical Bureau of Latvia, 2007
Reference mandatory in case of re-publication and quoting.