Last year Latvia’s gross domestic product (GDP) went down by 0.6% when compared to 2022, according to provisional data from the Central Statistical Bureau of Latvia.
In Q4 2023, when compared to the same quarter of 2022, Latvia’s GDP went down by 0.5%, according to seasonally and calendar unadjusted data.
According to provisional estimates, GDP was affected by growth of 3.6% in manufacturing sectors and the 0.7% drop in the service sector. At the same time, there was a 9.2% drop in collected product taxes.
Seasonally and calendar adjusted data indicates there was a drop of 0.2% in Latvia’s economy in this time period.
In Q4 2023, when compared to Q3, seasonally and calendar adjusted data indicates the GDP went up by 0.4%.
A more detailed report on Latvia’s GDP and changes in Q4 2023 and the year in total will be published on the 29th of February.
In 2022 Latvia’s GDP grew by 3.4% when compared to 2021.
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Latvia’s GDP provisionally goes down by 0.6% in 2023
