RIGA - In the fourth quarter of 2018, Latvia’s gross domestic product (GDP) grew at a faster rate than the European Union’s economy on average, according to a preliminary flash estimate on 19 of the bloc’s member states released by Eurostat.
In the fourth quarter of 2018, Latvia’s seasonally adjusted GDP grew by 5.5 percent against the respective period last year.
Following Latvia were Hungary (4.8 percent), Poland (4.6 percent), Romania and Slovakia (4 percent), Cyprus (3.9 percent), and Lithuania (3.6 percent).
In the fourth quarter of last year, GDP growth was recorded in all the EU member states reporting their data.
Across the EU GDP increased by 1.4 percent and in eurozone the economic growth was 1.2 percent compared to the respectice period in 2017. Meanwhile, compared to the previous quarter, the GDP rose 0.2 percent in the EU and in eurozone.
GDP data were unavailable from the Czech Republic, Greece, Croatia, Estonia, Ireland, Luxembourg, Malta, Slovenia and Sweden, while the annual growth of the Dutch economy was based on workday adjusted data.