GDP still rising in third quarter

In the 3rd quarter of 2015 Latvia's gross domestic product (GDP) rose by 0.4% compared to the previous quarter, according to data released Friday by the Central Statistics Bureau (CSB) 

In the 3rd quarter of 2015, as compared with the corresponding period of 2014, GDP according to seasonally adjusted data grew by 2.5%. Also according to seasonally non-adjusted data GDP increased by 2.5%.

The GDP increase was affected by growth in production sectors of 3% and in the services sector (without trade) – of 2%. Value added in trade increased by 3%.

Despite being pretty good, the figures were slightly down on the equivalent data from the second quarter when 1.2% growth was recorded against the previous quarter and 2.7% growth against the same quarter a year previously.

Nevertheless, the data suggests Latvia remains on course to record GDP growth of more than 2% for 2015 as a whole.

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Economy
Economy