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Latvian economy grows 2.7 pct in 2015

Xinhua, March 1, 2016 Adjust font size:

The Latvian economy expanded by 2.7 percent last year, according to information released on Monday by the national statistics office.

In 2015, the value of Latvia's gross domestic product reached 24.4 billion euros (26.5 billion U.S. dollars) in current prices and 21.4 billion euros in constant prices, the statistics office reported.

While Latvia's manufacturing sector showed 4 percent growth, construction slowed by 1 percent in 2015, as construction of both residential and non-residential buildings declined.

Retail trade quickened 5 percent in Latvia last year, as food retailers increased sales by 3 percent and sales by non-food retailers climbed 7 percent.

Latvian wholesalers reported 1 percent growth for 2015.

Latvia's transport sector contracted 0.1 percent last year as passenger traffic declined 2 percent and freight shipping picked up 1 percent. Endit