Latvia outpaces Estonia, Lithuania in Q4 growth

12.02.2013, 10:52

Once again, Latvia shows the strongest growth from all three Baltic countries: Estonia and Lithuania reported 3.4% and 3.1% growth, respectively, in Q4 2012, writes news2biz.

Latvian statistics office Centrala statistikas parvalde (CSP) released today its flash estimate of the Q4 whic showed that Latvian GDP grew 5.1% y-o-y and 1.3% q-o-q.

CSP is not yet releasing the annual figures, but, adding the flash estimate to previous quarters' results, the annual results reach 5.5%.

CSP notes that the GDP growth has been driven by strong growth in retail - 11% up y-o-y - and manufacturing - 6%.

CSP will publish the official results along with its data for the entire 2012 on 11 March 2012.

Latvian y-o-y GDP growth:

Q4 2012: +5.1%
Q3 2012: +5.3%
Q2 2012: +5.0%
Q1 2012: +6.9%

Q4 2011: +5.7%
Q3 2011: +6.6%
Q2 2011: +5.6%
Q1 2011: +3.5%

Q4 2010: +3.6%
Q3 2010: +3.5%
Q2 2010: -3.5%
Q1 2010: -5.5%

Q4 2009: -16.0%
Q3 2009: -18.0%
Q2 2009: -18.6%
Q1 2009: -18.4%