On changes of Gross Domestic Product in the 3rd quarter of 2009
Compared to the same period of 2008 gross domestic product (GDP) in the 9 months of 2009 has decreased by 18.6%, according to the seasonally non-adjusted data* of the Central Statistical Bureau of Latvia.
Compared to the 3rd quarter of 2008, in the 3rd quarter of 2009 GDP has diminished by 19.0%.
Production approach
The decrease in GDP was due to the drop in the following sectors: trade (share in GDP structure – 15.6%) - by 28.7%, transport and communications (12.5%) – by 18.2%, manufacturing (10.2%) – by 17.4% and construction (7.5%) – by 36.0%.
|
Changes in the main activities in the 3rd quarter of 2009 | |
|
Retail trade |
Transport and communications |
|
|
|
|
Manufacturing |
Construction |
|
|
|
|
Changes of GDP in the 3rd quarter of 2009 by kind of economic activity | |
|
|
|
Expenditure approach
| Increase of gross domestic product by main expenditure items |
|---|
|
at current prices, % of the corresponding quarter of the previous year |
|
|
|
at constant prices, % of the corresponding quarter of the previous year |
|
|
In the 3rd quarter of 2009 compared to the 3rd quarter of 2008 (at current prices) in private final consumption expenditure on food has decreased by 17.2%, on transport – by 20.9%, oh restaurants and hotels – by 48.4%, on clothing and footwear – by 50.6%.
Reduction in private final consumption at constant prices is continued bypurchase volume reduction by 28.1%. Government final consumption expenditure decreased by 12.4%, but expenditure on gross capital formation – by 39.4%. Export of goods (68.2% of total exports) has dropped by 11.7% and exports of services – by 20.5%. However, volume of imports of goods (82.1 % of total imports) has decreased by 36.6%, but volume of imports of services – by 29.1%.
|
CHANGES OF GROSS DOMESTIC PRODUCT IN THE BALTIC COUNTRIES |
|
|
* Seasonally adjusted data on changes of GDP will be published in the data base on 10.12.2009.
Prepared by National Accounts Section
Elita Kalniņa
Tel. 67366961