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

EXPERT'S COMMENT

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.
  • Real GDP (year-on-year; %)

  • Annual inflation (%; HICP)

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

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