Latvia's weak GDP trend continued in first quarter

A flash estimate released by the Central Statistical Bureau (CSB) April 29 shows that in the 1st quarter of 2024, compared to the 1st quarter of 2023, gross domestic product (GDP) decreased by 0.2 % (according to seasonally and calendar non-adjusted data).

According to provisional estimations, GDP was affected by a drop of 1.4 % in producing sectors and of 1.1 % in services sectors. Collected taxes on products decreased by 0.4 %.

Compared to Q4 2023, GDP increased by 0.8 % (according to seasonally and calendar adjusted data).

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