GDP of Latvia increased by 5.7% in Q3
In accordance with the flash estimate of the CSB, compared to the 3rd quarter of 2010, the Gross Domestic Product (GDP) volume in the 3rd quarter of 2011 has increased by 5.7%, according to seasonally non-adjusted data.
Growth in manufacturing of 8% and in trade of 10% had a positive effect on the GDP. The volume of the collected product taxes continues to increase. After three years of recession, growth has been recorded also in construction.
Compared to the 2nd quarter of 2011, in the 3rd quarter of 2011 the GDP has grown by 1.3%, according to seasonally adjusted data.
More precise and extended rate and value of the GDP in the third quarter of 2011 will be published in the press release of 9 December 2011.