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Latvia's GDP Growth Slows Marginally In Q3

Latvia's economic growth slowed marginally in the third quarter after accelerating in the previous quarter, flash estimate from Statistics Latvia showed Monday.

Gross domestic product advanced 4.2 percent year-on-year, following the revised 4.3 percent expansion in the second quarter and 3.8 percent rise in the first quarter.

The annual expansion was driven by the 2.5 percent increase in manufacturing, 3 percent growth in retail trade and 10 percent expansion in construction.

Quarter-on-quarter, GDP gained 1.2 percent, which was considerably above the prior quarter's 0.04 percent rise.

The statistical office is set to release revised data on December 9.

Another report from the statistical office showed that the trade deficit narrowed to LVL 117.3 million in September from LVL 147.6 million in August.

Exports surged 9.8 percent in September from August, and imports gained 3.7 percent. On a yearly basis, exports dipped 2.3 percent, while imports rose 0.8 percent.

by RTTNews Staff Writer

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