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Latvia Grows 2.7% in 2015

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.

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