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Latvia - the EU’s current runner-up in growth

Compared both to second-quarter as well as annual showings last year, Latvia is the second fastest-growing economy in the European Union (EU), according to the latest statistics released by Eurostat, the EU’s official data source Friday.

Latvia’s GDP in the second-quarter grew by 1% compared to the same period last year, behind Malta, which posted 1.3% growth in its national GDP.

Following Latvia are slower-growing Lithuania, Hungary and Great Britain (0.8%) and Estonia (0.5%).

On the whole the EU’s aggregate economy compared to last year’s second-quarter grew by 0.2%, while the eurozone GDP showed no change.

When compared to the previous year up to this point as a whole the EU economy grew by 1.2%, the eurozone’s GDP by 0.7%.

Latvia’s GDP increased by 3.5% compared to the same period last year, which is behind only Hungary with 3.7% growth in comparison. Latvia and Poland both showed 3.3% economic growth, Great Britain and Lithuania 3.1%.

Estonia’s 2.5% growth rate last year places it seventh among EU nations in this respect.

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