Eurostat: Latvia’s GDP growth reportedly below average in EU in Q4 2019

When compared to the same period of the previous year, Latvia had a lower GDP than the average in the European Union in Q4 2019, according to data published by Eurostat for 20 of the union’s countries.

According to seasonally adjusted data, Latvia’s GDP increased 1% in Q4 2019 when compared to the same period a year prior.

A more rapid economic growth was observed in Hungary (+4.6%), Romania (+4.2%), Lithuania (+3.7%), Bulgaria and Poland (+3.5% in both), as well as Cyprus (+3.2%).

In an annual perspective GDP growth has increased in all EU member states for which data is available. Only in Italy it remained unchanged.

Europe’s largest economy – Germany – experienced GDP growth of 0.5% when compared to the previous year’s GDP. When compared to Q3, on the other hand, it has remained unchanged.

GDP remained unchanged in Britain and reduced in France (-0.1%), Italy (-0.3%) and Finland (-0.4%) in Q4.

More rapid economic growth in this period was observed in Romania (+1.5%), Lithuania (+1.3%) and Hungary (+1%). Latvia’s GDP growth in Q4 was 0.2%.
When compared to the same period of 2018, EU economy has increased 1.1%, whereas Eurozone’s economy has increased 0.9%. Compared to Q3, GDP in the EU and Eurozone has increased 0.1%.

Data is not available for Greece, Croatia, Estonia, Ireland, Luxembourg, Malta, Slovenia and Sweden.

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