Compared to the same period of 2021, Latvia’s GDP in Q1 2022 turned out more rapid that the average in the European Union, according to data published by Eurostat.
According to seasonally adjusted data, Latvia’s GDP has increased by 5.6% when compared to Q1 2021.
Economic growth in the first quarter of the year was observed in all EU member states for which data is available.
The most rapid economic growth of this period was observed in Portugal (+11.9%), Poland (+9.1%), Austria (+8.7%) and Hungary (+8%).
Lithuania’s GDP has increased by 4.1%.
The average GDP growth across the EU in Q1, when compared to the same quarter of 2021, has increased 5.2%. In Eurozone GDP increase is at 5.1%.
Compared to previous quarters, economic growth was observed in 15 EU member states for which data is available.
GDP drops were observed in Denmark (-0.1%), Italy (-0.2%) and Sweden (-0.4%). In France and Netherlands GDP remains unchanged. The most rapid rise was observed in Romania (+5.2%), Portugal (+2.6%) and Austria (+2.5%). Latvia’s economy increased by 2.1%, whereas Lithuania’s economy increased by 0.9%. Compared to last year’s Q4, GDP in has increased by 0.4% in the EU and by 0.3% in Eurozone.
Compared to Q4 2021, the GDP in the EU has increased 0.4% and in Eurozone – by 0.3%.
No data is available for Greece, Estonia, Ireland, Croatia, Luxembourg, Malta and Slovenia.
Estimates for Netherlands were based on data adjusted for work days.