Press Release

On Flash Estimate of Gross Domestic Product in the 1st quarter of 2009

In the 1st quarter of 2009 compared to the same period of 2008 gross domestic product (GDP) value has decreased by 18%, according to flash estimate of the CSB*.

In the 1st quarter of 2009 decline of economic development continued both in fields of manufacturing and of services. Volume of manufacturing has decreased by 22%, of retail trade – by 25%, of hotels and restaurants services – by 34%. Also the value of collected product taxes continues to drop.

Changes of GDP in the 1st quarter of 2002 - 1st quarter of 2009, at constant prices

More precise and extended rate and volume of GDP increase on first quarter of 2009 will be published in the press release of June 9, 2009.

* Flash estimate includes change forecast of all economics at constant prices. Short-term statistics data and econometric models available at the moment are used in calculations.

Prepared by National Accounts Section
Tel. 67366961
Elita Kalniņa

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