Financial News: Latvia GDP Growth Slows In Q1; Retail Sales

Latvia GDP Growth Slows In Q1; Retail Sales Rise In April

05/29/2026 - 13:43:00 (RTTNews)

(RTTNews) - Latvia's economic growth eased in the first quarter of the year amid a decline in public spending but strong gains in investment offset the impact, and retail sales grew in April on higher demand for non-food products and automotive fuel, separate reports from the Central Statistical Bureau showed on Friday.

Gross domestic product rose a non-adjusted 2.5 percent year-on-year following a 2.9 percent growth in the previous quarter. The pace of growth slowed for the first time in three quarters and was the slowest in as many.

"Electricity, gas, steam and air conditioning supply, along with the wholesale and retail trade as well as real estate activities had a significant impact on the overall growth of the value added," the statistical office said. "However, a decline in transportation and storage as well as agriculture, forestry and fishing partially offset the increase."

Among the main production sectors, output in the transportation and storage industry decreased 8.3 percent year-on-year, while production surged 21.6 percent in the other industry group.

On the expenditure side, gross capital formation increased 13.3 percent, government spending decreased 1.5 percent.

On a seasonally and calendar adjusted basis, the economy grew 2.5 percent in the first quarter following a 2.6 percent rise in the previous three months.

GDP rose an adjusted 0.6 percent quarter-on-quarter in the first three months of the year after a 0.7 percent expansion in the previous quarter. The rate of growth was the weakest in six quarters.

Separate data from the statistical office showed that retail trade turnover rose a calendar adjusted 2.6 percent year-on-year in April. Sales of non-food products excluding motor fuel increased 2.9 percent and demand for motor fuel rose 3.0 percent. Sales of food products grew 1.8 percent.

The biggest upturns were recorded in the retail sale of pharmaceutical and medical goods, followed by retail sale of cultural and recreation goods, and retail sale of information and communication equipment in specialized stores, the statistical office said.

The sharpest turnover decline was recorded in the retail sale of clothing, footwear and leather goods, the office added.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

German Exports Grow Unexpectedly (12 min(s), 54 sec(s) ago)
(RTTNews) - Germany's exports increased unexpectedly in April and growth in imports slowed not ...Full Story»

Dutch Inflation Confirmed At 13-month High (27 min(s), 54 sec(s) ago)
(RTTNews) - Dutch consumer price inflation increased as estimated initially in May to the highest ...Full Story»

German Industrial Output Rises (33 min(s), 54 sec(s) ago)
(RTTNews) - Germany's industrial production expanded for the first time in five months in Apri ...Full Story»

Japan M2 Money Stock Climbs 2.5% On Year In May (47 min(s), 06 sec(s) ago)
(RTTNews) - The M2 money stock in Japan was up 2.5 percent on year in May, the Bank of Japan said ...Full Story»

South Korea GDP Gains 1.8% In Q1 (44 min(s), 06 sec(s) ago)
(RTTNews) - South Korea's gross domestic product expanded a seasonally adjusted 1.8 percent on ...Full Story»

South Korea GDP Data Due On Tuesday (43 min(s), 06 sec(s) ago)
(RTTNews) - South Korea will on Tuesday release Q2 figures for gross domestic product, highlightin ...Full Story»

Slovakia Construction Output Growth Eases In April (06 sec(s) ago)
(RTTNews) - Slovakia's construction production growth moderated after accelerating sharply in ...Full Story»

Germany Factory Orders Fall More Than Forecast (55 min(s), 06 sec(s) ago)
(RTTNews) - Germany's factory orders declined more than expected in April as frontloading effe ...Full Story»