Economy grew 2.7% in 2015

Latvia's economy continued to expand at a respectable rate during the last months of 2015 to round off a decent year, data released Monday by the Central statistical Bureau (CSB) confirmed.

In 2015, as compared with 2014, Gross Domestic Product (GDP) increased by 2.7%.

In 2015 GDP at current prices was 24.4 bln euros, and at constant prices - €21.4 billion.

However in the 4th quarter of 2015, as compared with the 3rd quarter of 2015, GDP at constant prices, according to seasonally adjusted data, decreased by 0.3 %.

But in the 4th quarter of 2015 as compared with the corresponding period of 2014, GDP grew by 2.3 % according to seasonally adjusted data, and by 2.7% - according to seasonally non-adjusted data.

In 2015, compared with 2014, the manufacturing sector grew by 4% but construction production volume decreased by 1 %.

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