In the third quarter of 2019, Latvia's seasonally and calendar unadjusted gross domestic product (GDP) grew by 2.8 percent against the same period a year ago, the Central Statistical Bureau (CSB) informed today.
Latvia's seasonally and calendar adjusted GDP increased by 1.8 percent over said period. In the third quarter of 2019, the value of Latvia's GDP was EUR 6.93 billion at constant prices.
CSB representatives indicated that the main upward pressure on the GDP was exerted by the volume increase in industry and services (according to preliminary estimates - of 4.3 percent and 3 percent, respectively), including rise of 2.1 percent in retail trade. Amount of collected product taxes shows decrease. Compared to the second quarter of 2019, Latvia's seasonally and calendar adjusted GDP rose 0.7 percent. The CSB is to release updated and expanded data on Latvia's GDP growth in the third quarter of 2019 on November 29.
In the first quarter of 2019, Latvia's seasonally and calendar unadjusted GDP grew by 3 percent against the respective period in 2018, while in the second quarter it rose 1.8 percent, according to CSB data.