RIGA, Aug. 29 (Xinhua) -- Latvia's gross domestic product (GDP) increased 0.7 percent in the first half of 2025 compared with the same period last year, the Central Statistical Bureau reported Friday. These figures are based on seasonally and calendar non-adjusted data.
On a quarterly basis, seasonally and calendar adjusted data show that GDP rose 0.4 percent in the second quarter of 2025. Growth was driven not only by the manufacturing sector, but also by construction, trade, and information and communication services. The sectors recording declines included electricity, gas supply, heating and air-conditioning, as well as transport and storage.
Value added increased 1.8 percent year-on-year in the April-June quarter, with manufacturing up 2.4 percent and services rising 1.6 percent. Agriculture grew 1.5 percent, while fisheries declined 0.1 percent and forestry and logging fell sharply by 8.5 percent.
Employee compensation continued to rise, increasing 6.3 percent year-on-year in the second quarter. Wages and salaries grew 6.1 percent, while employers' social contributions rose 7.3 percent.
Despite the positive overall picture for the first half, household consumption was still down in the first quarter, though it declined by a smaller margin in the second quarter. (1 euro = 1.17 U.S. dollar) ■