RISP2504
In the 3rd quarter GDP has increased by 2.5 %
Data compiled by the Central Statistical Bureau (CSB) shows that in the 3rd quarter of 2025, gross domestic product (GDP) at constant prices rose by 2.5 % (according to seasonally and calendar non-adjusted data). Compared to the previous quarter, GDP has increased by 0.6 % (according to seasonally and calendar adjusted data at constant prices). Manufacturing contributed the most in the GDP.
In the 9 months of 2025, compared to the respective period of the previous year, GDP at constant prices (seasonally and calendar non-adjusted) increased by 1.7 %, reaching 30.8 billion at current prices.
In the 3rd quarter of this year GDP at current prices was EUR 11.2 billion.
In the 3rd quarter, the largest contribution to the growth of value added was made not only by manufacturing, but also by construction, trade, and real estate activities. A decrease was observed in the health care services, as well as agriculture, forestry and fishing sectors.
Production approach
(at constant prices, seasonally and calendar non-adjusted data)
In the 3rd quarter of 2025, compared to the corresponding period of the previous year, total value added increased by 2.6 %. Value added in producing sectors in total went up by 5.5 %, but in services sectors there was a rise of 1.6 %.
A rise in agriculture sector was estimated at 1.1 %, in fishing – at 7.1 %, but in forestry and logging value added has dropped by 6.4 %.
Unfavourable weather conditions and a decline in prices and demand for stone, sand and clay, as well as for peat extraction, negatively affected the mining and quarrying sector, whose total value added decreased by 24.2 %.
Value added in manufacturing witnessed a rise of 7.3 %, which was affected by the increase in 16 out of 22 manufacturing sub-sectors. In the sub-sectors having the largest share in manufacturing – manufacture of wood and of products of wood – value added went up by 9.2 %, and in manufacture of food products – by 10.7 %. Growth in manufacture of other non-metallic products (of 7.0 %), manufacture of other fabricated metal products n.e.c. (12.7 %) also had a positive effect on the total value added of the sector. In turn, a drop was witnessed by such sectors as repair and installation of machinery and equipment, manufacture of beverages and manufacture of machinery and equipment n.e.c.
Value added of electricity, gas, steam and air conditioning supply increased by 7.3 %. One of the main factors behind this growth was favourable weather conditions for production of electricity at hydroelectric power plants, as abundant rainfall resulted in water inflow in the Daugava River being above normal. Meanwhile, the value added of the water supply, sewerage and waste management and remediation activities decreased by 0.4 %.
The value added of construction increased by 9.0 % in the 3rd quarter of 2025. The sector’s positive performance was mainly driven by rapid growth in infrastructure projects (roads, bridges, power supply), which contributed to a 21.9 % increase in the value added of civil engineering. Value added of construction of buildings rose by 5.4 %, but of specialised construction activities by 3.3 %.
Value added of retail trade sector has gone up by 1.3 %. Wholesale trade, retail trade and repair of motor vehicles and motorcycles increased by 9.8 %, but wholesale trade went up by 3.5 %.
The volume of services provided in accommodation and catering services increased by 4.9 %, of which in accommodation by 0.1 %, but in catering services by 7.0 %.
The value added of information and communication sector increased by 2.6 %. Among its largest sub-sectors, computer programming and consultancy grew by 4.1 %, while telecommunication services rose by 1.3 %. In turn, a drop of 8.9 % is observed in information services.
The value added of financial and insurance activities increased by 0.6 %. This was driven by the insurance, reinsurance and pension funding, where a 14.7 % increase was determined by the overall rise in total contributions in private pension plans. A drop of 0.8 % in financial service activities was determined by activity of monetary financial institutions. The value added of activities auxiliary to financial services and insurance activities also went down by 10.9 %.
A rise in value added of professional, scientific and technical activities (of 1.9 %) was affected by upturn in provision of architectural and engineering activities; technical testing and analysis (2.2 %), provision of other professional, scientific and technical activities (3.9 %). In turn, negative impact on the development of the sector was left by drop in provision of advertising and market research (of 4.9 %) and provision of legal and accounting activities (3.1 %).
Activities of administrative and support service activities went up by 3.6 %. A positive contribution in the upturn of value added of the sector was provided by the employment activities (of 8.5 %), rental and leasing services (5.2 %). A negative impact on the development of the sector was left by drop in construction and landscape architectural services (of 7.4 %), and security and investigation activities (1.7 %).
Rise of 3.3 % on taxes on products (mainly value added tax, excise and customs taxes) was determined by growth in income from value added tax.
Expenditure approach
(at constant prices, seasonally and calendar non-adjusted data)
In the 3rd quarter of 2025, compared to the corresponding period of the previous year, household final consumption increased by 1.8 %. Consumption of food products increased by 0.3 %, while the volume of goods and services used by households in the housing, water, electricity, gas and other fuels expenditure group decreased by 0.4 %. In turn, volume of expenditure on restaurants and hotels in households has increased by 5.4 %. Also expenditure of households on transport (public transport, purchase and exploitation of transport vehicle) increased by 3.4%.
Government final consumption expenditure grew by 5.8 %.
Investment in gross fixed capital formation in total rose by 10.8 %. Investment in dwellings and other buildings and structures increased by 9.6 %, in machinery and equipment (of which in transport vehicles) by 15.2 %. Investment in intellectual property products (research, computer software, databases, copyrights, etc.) – went up by 1.5 %.
Exports of goods and services increased by 3.0 %, of which exports of goods by 2.8 %, but exports of services – by 3.2 %. The main commodities in exports were wood and products of wood (except furniture), electrical machinery and equipment, as well as mineral products. In the 3rd quarter of 2025, the main services exported were exports of transport services and other economic activity (R&D, professional and management consulting, technical, trade-related and other business).
Imports of goods and services increased by 5.8 %, of which imports of goods volume by 4.9 %, but imports – by 8.8 %. Mainly, mineral products, electrical machinery and equipment, vehicles and associated transport equipment are imported. Main imports services: transport services and other economic activity services.
Income approach
(at current prices, seasonally and calendar non-adjusted data)
Compared to the 3rd quarter of 2024, in the 3rd quarter of 2025 compensation of employees increased by 6.5 %, of which total wages and salaries by 6.7 %, but employers' social security contributions by 5.7 %.
The largest increases in total compensation of employees were recorded in arts, entertainment and recreation and other service activities (12.1 % in total), construction (12.0 %), and in real estate as well as professional, scientific and technical activities (7.8 % combined). Compensation of employees in producing sectors on average has risen by 6.2 %, but in services sectors on average by 7.5 %.
Gross operating surplus and mixed income increased by 10.8 %, and taxes on production and imports less subsidies rose by 4.9 %.
Possible changes made by the government sector estimates, balance of payments and financial services sector, moreover updated indices of business services will be taken into account in the GDP calculations and balancing of the quarterly national accounts on the 85th day after the reference quarter. The updated information will be available on official statistics portal on December 23.
Time series of historical data and revision values of main GDP indicators are available for download in Excel files in the OSP GDP metadata section.
More information on the GDP is available in official statistics portal section Economy Gross domestic product – quarterly data.
Methodological information
Calculations of quarterly data of the GDP are made in line with the methodology of the European System of Accounts (ESA 2010). Main data sources used in calculations are:
Surveys of quarterly and monthly enterprises and institutions;
Labour Force Survey data carried out by the CSB;
Data from the Ministry of Finance, the Treasury and the State Revenue Service;
Latvijas Banka;
Data from the Institute of Agricultural Resources and Economics.
The GDP statistics from production and expenditure approach is calculated at current prices (registration and calculations are made at the actual prices of the corresponding period) and constant prices. The indicators at constant prices are expressed at prices of the previous calendar year and prices of the reference year (chain-linked), thus excluding the effect of changes in prices during the certain period.
To calculate GDP at the prices of the previous calendar year the actual prices of the previous calendar year are used as a base and the ‘annual average’ method (where each running quarter (or year) is calculated at the average prices of the previous year) is used. To make the calculations, various deflators are used. Both volume indices and price indices may be used as deflators. The following price indices are used: consumer price index, producer price index, construction cost index, services producer price index, price indices of agricultural products, export unit value index, import price index. The following volume indices are used: change in number of employees and change in natural indicators (e.g., in removals, passenger number, etc.).
To calculate GDP at the prices of the reference (base) year (currently, prices of 2020) the indices calculated from the GDP indicators at the prices of the previous year are used to chain-link the calculated volume indices with 2020.
GDP from the income approach is calculated at current prices only.
The published data are adjusted in line with the Guidelines for CSB Revision Policy. The adjustments are made due to receipt of specified information as well as the latest administrative data, inclusion of new economically active enterprises and institutions in surveys, specification of economic activity of sector of enterprises.
Media requests:
Public Relations Section
E-mail: media@csp.gov.lv
Phone: +371 27880666
More information on the data:
Gita Ķiņķevska
Quarterly National Accounts Section
E-mail: Gita.Kinkevska@csp.gov.lv
Phone: +371 67366791
Share