CSB revises GDP estimates of 2020 and 2021

On September 30 the Central Statistical Bureau (CSB) has published revised gross domestic product (GDP) estimates for 2020 and 2021 and more detailed GDP data for 2020 on official statistics portal stat.gov.lv. Revision of GDP data was carried out according to the CSB revision policy guidelines.

2020 was the first year of COVID-19 pandemic, which brought significant changes into the economy. Therefore, the revised estimate of GDP and its indicators differs from the previously published data, and data users were informed in advance about possibly larger amounts of revision than usual.

In 2020 the revised data at constant prices show 1.6 percentage points smaller GDP drop as compared to 2019 (-2.2 %) in contrary to the previously published (-3.8 %).

Based on the revised GDP estimate of 2020, also GDP estimate of 2021 has been revised, and GDP growth in 2021 is 0.6 percentage points smaller (3.9 %) than the previously published one (4.5 %).

GDP estimate revision of 2019 is insignificant. After the data revision that is 0.1 percentage point more (2.6 %) that the previously published (2.5 %).

Media requests:
Communication Section
E-mail: media@csp.gov.lv
Tel: +371 2788066

More information on the annual data revision:
Inese Medne
Annual National Accounts Section
E-mail: Inese.Medne@csp.gov.lv
Phone: +371 67366799

More information on the quarterly data revision:
Gita Ķiņķevska
Quarterly National Accounts Section
E-mail: Gita.Kinkevska@csp.gov.lv
Phone: +371 67366791