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Wednesday 18.01.2017 | Name days: Antis, Antons

Latvia’s economic growth – 12th most rapid in Europe

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared with Q1 2014, Latvia’s economy grew 2% in Q1 2015 and was the 12th most rapidly growing economy among 28 countries of the European Union.

Previously, Latvia was on the seventh place. However, after information was finally received from Czech Republic, Poland, Slovenia and Sweden, Latvia dropped to the 12th spot, according to Eurostat’s information about results for the first quarter of 2015.

However, even reviewed data shows that Latvia’s GDP has grown more rapidly than that of Lithuania and Estonia, where economies grew by 1.5% and 1.8%, respectively.

GDP of Romania and Czech Republic have grown more rapidly than that of Latvia – both countries experienced growth of 4.2%. Poland’s GDP grew by 3.5%, Hungary – 3.3%, Slovenia – 3% and Slovakia – 2.9%.

Latvia’s result has also been beaten by Spain (2.7%), Sweden (2.6%), Holland and Britain (2.4% both). Bulgaria’s economy has grown 2%.

The lowest growth indexes were found in Croatia, Italy, Austria and Finland – 0.1%.

None of the EU member states have experienced an economic decline of any description.

Compared with Q1 2014, EU’s economy has increased by 1.5%. Eurozone’s GDP has grown 1%.

Compared with Q4 2014, economies of the EU and Eurozone have grown 0.4%.

Latvia’s GDP has grown 0.3% in quaternary perspective, which is the tenth slowest growth in the EU.

The most rapid quaternary growth has been registered in Czech Republic – 3.1%, Cyprus and Romania (1.6% both) and Poland – 1%.

Both Estonia’s and Lithuania’s economy had experienced a decline in Q1 2015 – 0.3% and 0.6%, respectively.

Greece and Finland both experienced GDP decline in comparison with Q4 2014 – 0.2% and 0.1%, respectively.

Ref: 102.109.109.6009


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