Latvia Grows 2.7% in 2015
- New Europe Investor
- March 01, 2016
Latvian GDP increased by 2.7% in 2015 according to the Central Statistics Office in the country.
GDP in in the Baltic state currently stands at €24.4 billion, surpassing pre crisis levels for the first time.
A look into the figures shows that manufacturing grew by 4%, with wood and wood products growing by 7%.
Construction in Latvia decreased by 1%. However, there was an increase in civil engineering projects by 5%, with railways seeing a 6% increase and pipeline and cable construction increasing by 26%.
Exports from Latvia increased by 2% last year with imports increasing 1%.
Private consumption increased by 4% in 2015, with government spending increasing by 6% compared to the previous year.