Homepage

8.1%

In 2020, unemployment reached 8.1% in Latvia

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.

Anete Migale

Latvijas Bankas ekonomiste

Lai gan pandēmija darba tirgu kopumā, protams, ietekmējusi negatīvi, darba tirgus šai ietekmei pretojies cienījami.

Guntis Kalniņš

Latvijas Bankas ekonomists

The restrictions related to the exacerbation of the spread of the COVID-19 virus and the dramatic decrease in economic activity determined developments of the balance of payments in the second quarter of 2020.

2020 I	2.2
2020 II	2.3
2020 III	1.4
2020 IV	-0.1
2020 V	-0.9
2020 VI	-1.1
2020 VII	0.1
2020 VIII	-0.5
2020 IX	-0.4
2020 X	-0.7
2020 XI	-0.7
2020 XII	-0.5
2021 I	-0.5

Real GDP (year-on-year; %)

Job seekers rate (%)

Current account surplus/deficit to GDP ratio (%)

All

Macroeconomic Indicators

2019 Q4	0.6
2020 Q1	-1.2
2020 Q2	-8.6
2020 Q3	-2.8
2020 Q4	-1.8

2019 Q4	6
2020 Q1	7.6
2020 Q2	8.6
2020 Q3	8.4
2020 Q4	7.9

2019 Q3	-3.7
2019 Q4	-0.3
2020 Q1	1
2020 Q2	3.8
2020 Q3	-0.7

How accurate are Latvijas Banka's inflation projections?

2009 vs 2020: where's the difference

Latvian labour market in the shadow of Covid-19 crisis: seven facts

Financial Stability Report 2020

Macroeconomic Developments Report. September 2020

Latvia's Macro Profile. December 2020

Anatomy of labour reserves in the Baltic countries

Macroeconomic Effects of the ECB's Forward Guidance

Short-Term Inflation Projections Model and Its Assessment in Latvia

How can Latvia catch up with Estonia and Lithuania?

Latvian labour market in the shadow of Covid-19 crisis: seven facts

The impact of global food prices on inflation in times of Covid-19

Central bank digital currency – necessity, challenges or opportunities?

The pandemic is having a heterogeneous impact on the labour market

Manufacturing like a hipster – the more difficult, the more challenging

Restrictions did not stop economic growth in the last quarter of the year

Retail trade is adjusting to restrictions

The devil is in the detail – how to support the households and businesses hit by the crisis?

The day after tomorrow: what lies ahead of us after the apocalyptic events in 2020?

Financial sector faces innovative and socially significant changes

False dilemma – public health or economic crisis

EXPERT'S COMMENT

Oļegs Krasnopjorovs

Andrejs Bessonovs

Agnese Rutkovska

Anete Migale

Guntis Kalniņš

Annual inflation (%; HICP)

Real GDP (year-on-year; %)

Job seekers rate (%)

Current account surplus/deficit to GDP ratio (%)

MACRO DEVELOPMENTS REPORT

NUMBER THAT COUNTS