8.6% In the second quarter, Latvia’s GDP contracted by 6.5% quarter-on-quarter.

EXPERT'S COMMENT

Agnese Rutkovska

Economist, Latvijas Banka
As to the economic outlook for the third quarter, there is good reason to expect better results due to more relaxed COVID-19 restrictions and overall more positive sentiment among consumers and businesses.

Oļegs Krasnopjorovs

Economist, Latvijas Banka

Andrejs Bessonovs

Economist, Latvijas Banka
Euro area inflation expectations remain anchored to the ECB's inflation target. Five-year inflation expectations are significantly more stable and closer to 2% compared to headline inflation and short-term inflation expectations.

Kristofers Pone

Economist, Latvijas Banka
Exports of transport services were affected the most: in addition to a fall in the export value of transport services by sea and rail which was already observed previously and is likely to persist further due to lower freight volumes, exports of transport services by air and road also decreased because of the lockdown

Anete Migale

Economist, Latvijas Banka
The second quarter saw a less pronounced drop in the economic activity than expected at the onset of the crisis, being also reflected in a more moderate rise in unemployment. The support measures extended by the government also contributed to preventing unemployment growth.
  • Real GDP (year-on-year; %)

  • Annual inflation (%; HICP)

  • Foreign direct investment in Latvia (net flows, EUR millions)

  • Job seekers rate (%)

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