Press Release

GDP has risen by 0.4% over the previous period according to seasonally adjusted data

In the 3rd quarter of 2014 compared with the 2nd quarter of 2014 Gross Domestic Product (GDP) value (seasonally adjusted data) increased by 0.4%, but compared with the 3rd quarter of 2013 it has risen by 2.2%, according to flash estimate* of the Central Statistical Bureau (CSB).

According to seasonally unadjusted data compared with the 3rd quarter of 2013 the GDP in the 3rd quarter of 2014 grew by 2.1%.    

Changes of GDP value at constant prices, 3rd quarter 2012 – 3rd quarter 2014, as per cent

Data source: Central Statistical Bureau of Latvia

More precise and extended rate and value of the GDP in the third quarter of this year will be published** in the press release of 28 November 2014. Information will also be available in the CSB database.

GDP value affected by the further adjustment*** will be published on 23 December 2014 in the CSB database when quarterly national accounts will be balanced.


* The CSB takes up publishing GDP flash estimate on the 30th day after the reference quarter (until now – on the 40th day).
To obtain flash estimate vector autoregressive models and statistical data by sectors (industry, construction, trade, services) available at that moment are used.

** In the future the CSB will publish second estimate of the GDP two months after the reference quarter (until now – on the 70th day).

*** Possible changes in calculations of government sector, balance of payment and sectors of financial services, as well as services producer price indices will be taken into account in GDP calculations and balancing of quarterly national accounts. Information will be available in the CSB database as the third estimate on the 85th day after the reference quarter.


More information:
Elita Kalniņa
Quarterly National Accounts Section
Tel. +371 67366961

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