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-7.5%

According to Latvijas Banka projections, Latvia’s GDP will decrease by 7.5% in 2020.

Agnese Rutkovska

Economist, Latvijas Banka

Only some sectors have managed to wade through the first quarter without "getting their feet wet". For example, construction where the future growth prospects are also good because of investment projects supported by the government.

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

Bans on gatherings and travel restrictions imposed due to the state of emergency have nearly paralysed activity in sectors such as accommodation and catering, event organisation and passenger transportation.

Annual inflation (%; HICP)

2019 V	3.5
2019 VI	3.1
2019 VII	3
2019 VIII	3.1
2019 IX	2.3
2019 X	2.2
2019 XI	2
2019 XII	2.1
2020 I	2.2
2020 II	2.3
2020 III	1.4
2020 IV	-0.1
2020 V	-0.9

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

Job seekers rate (%)

All

Macroeconomic Indicators

2019 Q1	3.3
2019 Q2	2.7
2019 Q3	1.8
2019 Q4	1
2020 Q1	-1.5

2019 Q1	132
2019 Q2	-62
2019 Q3	397
2019 Q4	198
2020 Q1	148

2019 Q1	6.9
2019 Q2	6.4
2019 Q3	6
2019 Q4	6
2020 Q1	7.4

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EXPERT'S COMMENT

Agnese Rutkovska

Kristofers Pone

Anete Migale

Real GDP (year-on-year; %)

Annual inflation (%; HICP)

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

Job seekers rate (%)

MACRO DEVELOPMENTS REPORT

NUMBER THAT COUNTS