Latvian GDP growth 2.8% in third quarter: flash estimate

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The latest flash estimate released by the Central Statistical Bureau (CSB) October 30 shows that, compared to the 3rd quarter of 2018, in the 3rd quarter of 2019 Latvia's gross domestic product (GDP) value increased by 2.8 % (seasonally and calendar non-adjusted data).

The main upward pressure on the GDP was exerted by a volume increase in industry and services (according to preliminary estimates – of 4.3 % and 3.0 %, respectively), including a rise of 2.1 % in the retail trade.

Compared to the 2nd quarter of 2019, GDP rose by 0.7 % (seasonally and calendar adjusted data).

The precise figures regarding changes in the GDP in the 3rd quarter of 2019 will be published on November 29.

Also released October 30, calendar adjusted data (at constant prices) show that, compared to September 2018, in September 2019 total retail trade turnover fell by 0.4 %. 

Turnover of retail trade in food products grew by 0.8 %. Turnover of retail trade in non-food products (except for retail sale of automotive fuel) decreased by 1.4 %, but of automotive fuel – by 0.2 %.

Total retail trade turnover at current prices increased by 2.6 % (not taking into account the calendar influence).

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