Compared to the same period of last year, Latvia’s gross domestic product turned out more rapid than the average in the European Union in Q3 2021, according to data from Eurostat for 20 member states.
According to seasonally adjusted data, Latvia’s GDP has increased 4.7% in Q3 when compared to the same period of time last year.
Economic growth was observed in all EU member states for which information is available.
The most rapid economic increase was observed in Romania (+8%), Hungary (+6.1%), Lithuania (+6%) and Denmark (+5.4%).
GDP in the EU increased by an average of 3.9% in Q3 2021. The increase in Eurozone was 3.7%.
Compared to Q2, economic growth was observed in all EU member states for which data is available, except for Lithuania, where GDP remained unchanged.
Growth was the most rapid in Austria (+3.3%), France (+3%) and Portugal (+2.9%). Latvia’s economy increased 0.3%.
Compared to Q2, GDP in the EU has increased 2.1% and in Eurozone – by 2.2%.
No data is available for Greece, Croatia, Estonia, Ireland, Luxembourg, Malta and Slovenia.
GDP growth in Latvia reportedly higher than the average in EU
