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GDP has grown by 4.5 % in 2017 and by 4.2 % in the 4th quarter
In 2017, as compared to 2016, the economic growth continued and Gross Domestic Product (GDP) increased by 4.5 %. In 2017, GDP at current prices amounted to EUR 26.9 billion.
In January, construction costs increased by 0.3 %
Compared to December 2017, in January 2018 the level of construction costs in Latvia grew by 0.3 %. Prices of building materials rose by 0.9 %, maintenance and operational costs of machinery and equipment did not change significantly, but labour remuneration of workers dropped by 0.4 %.
CSB will continue surveying population on income and living conditions
From the beginning of March until the end of June, Central Statistical Bureau will keep surveying population on income and living conditions. Respondents will be asked about household composition, social and economic characteristics of household members, housing conditions, income, self-perceived health status, material deprivation indicators, as well as population well-being.
In 2017, 62.9 % of Latvia population were employed
894.8 thousand people or 62.9 % of Latvia population aged 15–74 were employed in 2017. Compared to the year before, in 2017 employment rate grew by 1.3 percentage points and number of employed persons by 1.5 thousand.
In 2017, Latvian unemployment rate fell to 8.7 %
85.4 thousand people aged 15–74 were unemployed in 2017. Compared to 2016, the number of unemployed persons has dropped by 9.9 thousand or 10.4 %.
In January, level of producer prices in industry increased by 0.9 %
Compared to December 2017, in January 2018, level of producer prices in Latvian industry rose by 0.9 %.
In 2017, second highest grain yield was reached
Regardless the unfavourable weather conditions, in 2017 the highest average grain yield per one hectare was reached – 38.3 q. The highest yield was reached in 2015 – 44.9 q/ha.
During the year, the average level of consumer prices increased by 2.0 %
During the year (in January 2018, compared to January 2017) the average level of consumer prices rose by 2.0 %. Prices of goods grew by 1.5 % and prices of services by 3.3 %.
In 2017, construction output grew by 19.5 %
Compared to 2016, in 2017 construction output1 increased by 19.5 % (according to calendar adjusted data at constant prices). Construction output at current prices amounted to 1 736 million euros.
Foreign trade of Latvia in December 2017
In 2017, the foreign trade turnover of Latvia at current prices reached EUR 25.42 bln – EUR 2.81 bln or 12.4 % more than in 2016.