Economic growth is projected to pick up strongly as the disbursement of new EU funds increases investment and the recovery in Russia increases exports. Household consumption will remain robust, supported by continued wage growth, although unemployment will remain high. Wage growth is set to exceed productivity growth, which will hold back the improvement of export performance.

© Steve Allen Travel Photography/Alamy Stock

The OECD welcomes Latvia as its 35th member country. Latvia joined the OECD on 1 July 2016. 

Economic data

GDP growth: +0.5% Q2 2019 year-on-year
Consumer price inflation: 1.9% August 2019 annual
Trade: +0.4% exp, -1.2% imp, Q1 2019
Unemployment: 5.1% August 2019
Last update: 9 September 2019

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