Lettland BIP Veränderung zum Vorjahr

Latvia’s economy contracted by 0.4% year-on-year in the fourth quarter of 2024, slowing from a downwardly revised 1% drop in the previous three-month period. This marked the third consecutive period of contraction but the softest pace in the sequence, mainly due to household consumption (0.2%) and government spending (6.1%). Meanwhile, gross capital formation (-7.9%) decreased. On net external demand, exports of goods and services stalled while imports increased by 0.3%. On a seasonally adjusted quarterly basis, the economy rose 0.1% in Q4 2024, rebounding from a 0.2% drop in the previous three-month period.