Financial News: Latvia GDP Growth Improves To 2.9% In Q4

Latvia GDP Growth Improves To 2.9% In Q4

02/27/2026 - 09:53:00 (RTTNews)

(RTTNews) - Latvia's economy expanded at a faster pace in the final quarter of 2025, preliminary data from the statistical office showed on Friday.

Gross domestic product rose a non-adjusted 2.9 percent year-on-year in the December quarter, following a 2.6 percent increase in the September quarter. Moreover, this was the strongest growth since the first quarter of 2023.

On the expenditure side, household expenditure rose 2.2 percent, and government consumption advanced by 3.4 percent. Gross fixed capital formation grew sharply by 11.8 percent. Meanwhile, net foreign demand contributed negatively as exports of goods and services fell 1.9 percent amid a 6.1 percent increase in imports.

On a seasonally and calendar-adjusted basis, GDP also expanded 2.5 percent in the fourth quarter, faster than the 2.3 percent in the previous quarter.

On a quarterly basis, the seasonally and calendar-adjusted GDP rose 0.6 percent in the fourth quarter after growing 0.8 percent in the third quarter.

During the year 2025, the Latvian economy grew 2.1 percent compared with 2024, mostly driven by manufacturing and construction sectors on the production side.

Separate official data showed that Latvia's annual retail sales growth accelerated notably to 6.1 percent in January, marking the strongest expansion since March 2022, from 1.1 percent in December. Monthly, sales rose 2.7 percent.

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