The downturn in the latvian economy in the second quarter was impressive, but not as large as initially forecast. We have india phone number list suffered less than most other european countries, but we look worse than our baltic neighbors. Data from recent months show that the recovery in many sectors is significantly faster than expected. At the end of september, the picture for the economy as a whole turned out to be brighter than at the india phone number list beginning of the summer. However, the virus is raging again in europe, and although the number of cases in latvia is still relatively calm, there is an increase in the number of cases. Outbreaks of the virus are having a negative impact on the already very fragile recovery of a number of sectors.
Lava zorgenfreija, chief economist of swed bank latvia , is analyzing the economic forecasts for the coming years and what will have to india phone number list be taken into account in the future .The commonalities and differences of the baltic economies in general, the economies of all the baltic states have suffered less than much of the india phone number list rest of europe as a result of success, quick decisions, less restrictions, prudent action by the government and the people, and an economic structure that is beneficial to this crisis. In the first half of the year, however, the latvian economy fell deeper than the economies of estonia and especially lithuania.
Gdp data show that the big difference from our neighbors is the decline in private consumption, while in exports we have been similar to the india phone number list baltics and better than the estonians. The structure of exports in the baltics is different, but it cannot be said that it would be significantly less favorable for one country to overcome the covid crisis than for another. On the export side of goods, the outlook for the india phone number list baltic states is quite similar - lithuania is recovering slightly more slowly, where the biggest negative impact is still the decline in oil exports. On the services side, estonia has suffered more and is recovering more slowly. Tourism has suffered significantly in the crisis in all countries.