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Double-digit rise in Latvian GDP in second quarter

A flash estimate issued July 29 by the Central Statistical Bureau (CSB) shows that in the second quarter of 2021, compared to the same quarter of 2020, gross domestic product (GDP) increased by 10.3 % (according to seasonally and calendar non-adjusted data).

According to provisional figures that will be subject to revision at the end of August, GDP was affected by a rise of 6.7 % in producing sectors and of 11.3 % in services sectors.

Compared to the first quarter of 2021, GDP increased by a more modest 3.7 % (according to seasonally and calendar adjusted data).

It should be remembered that the second quarter of 2020 was the time when more serious restrictions were in place to combat the spread of Covid-19, which likely contributes to the striking double-digit rise a year later when restrictions were being gradually lessened.

 

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