Latvia GDP Growth Accelerates To 2.5%

(RTTNews) - Latvia's economy expanded at a faster pace in the third quarter, preliminary data from the statistical office showed on Friday.

Gross domestic product rose a non-adjusted 2.5 percent year-on-year in the third quarter, following a 0.9 percent increase in the second quarter. The economy has been growing since the third quarter of 2024.

On the expenditure side, household expenditure rose 1.8 percent, and government consumption surged by 5.8 percent. Investments in gross fixed capital formation advanced sharply by 10.8 percent amid more investments in dwellings and other buildings and structures and machinery and equipment.  

Exports of goods and services climbed 3.0 percent, and imports were 5.8 percent higher.

On a seasonally and calendar-adjusted basis, GDP also expanded 1.8 percent in the September quarter after rising 1.5 percent in the previous quarter.

On a quarterly basis, the seasonally and calendar-adjusted GDP expanded 0.6 percent in the third quarter after growing 0.3 percent in the June quarter.