Sunday , April 11 2021

Latvia experienced faster GDP growth in the third quarter than the EU average | BNN



Baltic News, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn Latvia this year, compared to the same period last year, the GDP growth rate was significantly higher than in the European Union (EU) on average, according to published data from the European Union Statistics Office. Eurostat Preliminary data was collected for 20 soil blocks.

According to seasonally adjusted data, Latvia's GDP in the third quarter of 2018 increased 5.5% year on year. Economic growth was even more pronounced in Poland, where it reached 5.7%.

Following these two countries, Hungary (+ 5%), Slovakia (+ 4.5%), Romania (+ 4.1%), Cyprus (3.6%), Bulgaria (+ 3%) and Lithuania (+2, 7%).

In terms of GDP in the third quarter, GDP has increased in all EU Member States for which data is available.

In the largest economy in Germany, GDP grew 1.2% in the third quarter compared to the third quarter of the previous year, but the economy fell 0.2% compared to the second quarter.

The economic downturn in the third quarter, compared to the previous three-month period, was registered in Lithuania, where GDP contracted by 0.4%, while Italy's GDP remained unchanged.

The fastest growing economic growth in this period was in Romania (+ 1.9%), Latvia (+ 1.8%), Poland (+ 1.7%), Hungary (+ 1.2%) and Slovakia (+ 1.1%). .

The EU economy grew by 1.9% in the third quarter compared to the same period in 2017 and 1.7% in the euro area economy. Compared to the second quarter, GDP in the European Union has increased by 0.3%, while the euro area has recorded a 0.2% increase.

Data for Greece, Croatia, Estonia, Ireland, Luxembourg, Malta, Slovenia and Sweden are not available. In terms of calculations for the Netherlands, data adjusted for working days are used to calculate the Netherlands.


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