Lettland BIP Veränderung zum Vorjahr

Latvia's economy contracted by 2.4% year-on-year in the third quarter of 2024, following a downwardly revised 0.5% decline in the previous quarter and marking the steepest contraction since Q3 2020, according to a flash estimate. The GDP decline was driven by a 4.1% drop in producing sectors and a 2.3% decrease in services, while taxes on products fell by 1.3%. On a quarterly basis, the country's GDP decreased by 0.4% in Q3, following an upwardly revised 0.3% fall in the prior period.