Flash estimate shows that in the 2nd quarter GDP rose by 2.6 %
Flash estimate of the Central Statistical Bureau (CSB) shows that in the 2nd quarter of 2022, compared to the 2nd quarter of 2021, gross domestic product (GDP) increased by 2.6 % (according to seasonally and calendar non-adjusted data).
According to provisional estimations, the GDP was affected by a drop of 0.4 % in producing sectors and growth of 4.1 % in services sectors.
Compared to the 1st quarter of 2022, GDP fell by 1.4 % (according to seasonally and calendar adjusted data).
Press release on the precise volume of and changes in the GDP in the 2nd quarter of 2022 will be published on 31 August.
Methodological information
Calculation methods used in GDP flash estimate are equivalent to methods used in previous periods.
COVID-19 crisis in time-series analysis area at the moment is considered as occurrence that is not seasonal, therefore, impact of crisis is not excluded from the data when carrying out seasonal adjustment. It must be taken into account that during the crisis both unadjusted and seasonally adjusted data may be potentially exposed to greater data revisions than they were in a pre-crisis period. More information on seasonal adjustment during the COVID-19 crisis is available at https://github.com/CSBLatvia/SA-COVID-19-public/blob/master/SA-COVID-19-LV.md.
Media requests:
Communication Section
E-mail: media@csp.gov.lv
Tel: +371 67366989, +371 27880666
More information on quarterly data:
Diāna Krūmiņa
Quarterly National Accounts Section
E-mail: Diana.Krumina@csp.gov.lv
Phone: +371 67366662
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