8,4% In the third quarter, unemployment rate dropped to 8.4% in Latvia.


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

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
However, while overall the pandemic has undoubtedly affected the labour market negatively, it has shown strong resilience to this impact.
  • Real GDP (year-on-year; %)

  • Annual inflation (%; HICP)

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

  • Job seekers rate (%)