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Flash estimate shows that GDP rose by 4.3 % in the 1st quarter
Compared to the 1st quarter of 2017, in the 1st quarter of 2018 the gross domestic product value increased by 4.3 % (according to seasonally and calendar non-adjusted data).
In March, retail trade turnover grew by 6.5 %
Compared to March 2017, in March 2018 the total retail trade turnover rose by 6.5 %. Turnover of retail trade in food products increased by 6.8 %, turnover of retail trade in non-food products (except for retail sale of automotive fuel) by 6.0%, and turnover of retail sale of automotive fuel by 7.3 %.
In March, construction costs increased by 0.5 %
Compared to February, in March 2018 level of construction costs in Latvia grew by 0.5 %. Labour remuneration of workers rose by 1.1 %, prices of building materials by 0.5 %, and maintenance and operational costs of machinery and equipment by 0.2 %.
In 2017, number of foreign travellers in Latvia rose by 13.7 %
In 2017 foreign travellers crossed the border of Latvia 7.7 million times, which is 13.7 % more than a year before.
In 2017, level of agricultural product prices grew by 11.6 %
In 2017, the total price index of agricultural output increased by 11.6 %, which was mainly due to the rise in prices of livestock products of 25.8 %. The price index of crop products grew by 2.2 %.
Producer price changes in industry in March 2018
Compared to February, in March 2018 level of producer prices in the Latvian industry rose by 0.2 %. Prices of products sold on the domestic market grew by 0.1 %, but prices of exported products went up by 0.4 %.
In 2017 general government budget deficit accounted for 0.5 % of GDP
In 2017 general government budget deficit accounted for EUR 131.1 million or 0.5 % of the Gross Domestic Product, whereas consolidated gross debt amounted to EUR 10.8 billion or 40.1 % of the GDP.
Birth number still declining
That since 2016 birth number in Latvia is reducing – in 2017 number of live births may be approximately one thousand smaller than in 2016.
During the year, the average level of consumer prices increased by 2.2 %
During the year (in March 2018, compared to March 2017) the average level of consumer prices rose by 2.2 %. Prices of goods grew by 1.6 % and prices of services by 3.7 %.
In February foreign trade turnover in goods was 9.9 % larger than last year
In February 2018 the foreign trade turnover of Latvia amounted to EUR 2.02 bln, which at current prices was 9.9 % more than in February 2017, of which the exports value of goods was 11.6 % and imports value of goods was 8.4 % higher.