Reasonable growth in Q4 2016

According to a flash estimate from Latvia's Central Statistical Bureau (CSB), in the 4th quarter of 2016, compared to the 3rd quarter of 2016, gross domestic product (GDP) value (seasonally and working days adjusted data) increased by 0.8%.

Compared to the corresponding period of 2015, during the 4th quarter of 2016 seasonally and working days adjusted GDP grew by 1.6%, while seasonally and working days non-adjusted GDP increased by 2.1%.

Over the 4th quarter, GDP was affected by a 10% increase in the output in industry and a 1% increase in the output of the service sector.

The drop in the construction sector has decreased and it amounted to 13%. The volume of collected taxes of products was 5% larger than during the corresponding period of the previous year.

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Economy
Economy