Economy grows 3.9% on year in first quarter

Latvia's GDP grew 3.9% on year in the first quarter of 2017, according to a flash estimate by the Central Statistics Office.

As compared to the corresponding period of 2016, the country's economy grew 3.9% according to both seasonally adjusted and non-adjusted data.

Compared to the 4th quarter of 2016, the GDP value grew (seasonally and working days adjusted data) increased by 1.5 %.

During the 1st quarter, the GDP was affected by a 10% increase in the volume of industrial production, 8% increase in construction, as well as a 3% growth in the service sector.

More detailed data will be available at the end of May.

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