Latvia's Q4 GDP Growth Moderates As Estimated In Q4

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Latvia’s economic growth moderated notably in the fourth quarter, as initially estimated, revised data published by the Central Statistical Bureau showed Friday.

The economy grew a seasonally and calendar adjusted 1.1 percent from the third quarter, when it expanded 6.9 percent. The fourth quarter rate came in line with the flash estimate released on February 1.

Gross domestic product decreased a non-adjusted 1.5 percent year-on-year after a 2.8 percent slump in the third quarter. The rate was revised from -1.4 percent.

On a seasonally and calendar-adjusted basis, GDP fell 1.8 percent year-on-year, which was revised from -1.7 percent. This followed a 2.8 percent drop in the previous quarter.

In the whole year, GDP was down 3.6 percent. During 2020, value added of the production sector advanced 0.4 percent but of services sectors decreased by 4.8 percent.

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