Latvia: GDP down 0.6% in 2023: provisional data

Latvia’s annual GDP declined by 0.6% in 2023, according to the Central Statistical Bureau’s provisional data. In the fourth quarter of 2023, the country’s GDP dropped by 0.5% over a year, according to seasonally and calendar unadjusted data. Growth in manufacturing stood at 3.6%, while services went down by 0.7%. According to seasonally and calendar-adjusted data, Latvia’s quarterly GDP declined by 0.2% over a year. Compared to the third quarter of 2023, the GDP rose by 0.4%. In 2022, Latvia’s annual GDP growth reached 3.4%.