In Q2 2024, Latvia was among five countries of the European Union (EU) that suffered a drop in their GDP when compared to the same period of the year prior, according to data reported by Eurostat.
According to seasonally adjusted data, Latvia’s GDP went down by 0.4% in Q2 2023.
An economic drop in the second quarter was recorded year-on-year in Germany (0.1%), Finland (0.7%), Ireland (1.4%) and Estonia (1.7%). GDP remained unchanged in Austria and Sweden.
Of the countries for which preliminary data are available, Poland (4%), Cyprus (3.7%), Spain (2.9%) and Bulgaria (2%) had the fastest economic growth during this period. Lithuania’s GDP has increased by 1.4%.
The EU’s average GDP grew by 0.8% in the second quarter compared to April last year, and by 0.6% in Eurozone.
Compared to January-March, GDP in both Eurozone and the EU has increased by 0.3%.
The quarterly comparison recorded economic growth in 17 of the EU Member States for which data are available. It was strongest in Poland (1.5%), Ireland (1.2%) and the Netherlands (1%), followed by Germany (0.1%), Hungary (0.2%), Sweden (0.8%) and Latvia (1.1%), while GDP remained stable in Austria. Lithuania’s economy grew by 0.9% in quarter-on-quarter comparison, while Estonia’s GDP grew by 0.2%.
No data is available for Denmark, Croatia, Luxembourg and Malta.
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Publish date : 2024-08-14 07:00:00
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