Services dominate, but Latvia retains comparatively large agricultural sector

In 2020, services were by far the largest economic activity in Latvia measured in terms of gross value added (GVA) generated, according to data published by Eurostat October 21. However, Latvia retains one of the EU's larger agricultural sectors, proportionally speaking. 

Services accounted for 73% of the European Union’s total GVA, followed by industry and construction (25%) and agriculture (2%), while in Latvia the equivalent figures were 73%, 22.4% and 4.6%.

While agriculture represented only a small part of European GVA, the highest shares were recorded in Greece and Latvia followed by Romania, Bulgaria, Hungary, Croatia and Lithuania (all 4%). On the other end, agriculture had the lowest share of the total GVA in countries like Luxembourg, Malta, Belgium and Germany where it stood below 1%.

When looking at the number of people employed in each sector, Latvian agriculture becomes even more important. Agriculture accounts for 7.5% of the workforce, industry and construction for 23.4% and services for 69%. The equivalent EU average figures are 4.5%, 22.5% and 72.9%.

In all EU countries, services had the biggest weight in the economy, varying between 58% in Ireland and 87% in Luxembourg. At the top of the list, following Luxembourg, were Malta (85%) and Cyprus (84%), while Poland (66%), as well as Czechia and Slovenia (both 64%), came at the other end of the scale, before Ireland (58%).

Industry and construction-related activities had significant weights in the economies of   Ireland (41%), Czechia (34%), Slovenia (33%), Poland and Slovakia (both with 31%).

Services, Industry and construction, Agriculture 2020

 

 

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