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Latvian economy grows 1.6 pct in 2016

Xinhua, January 31, 2017 Adjust font size:

The Latvian economy grew by 1.6 percent year on year in 2016, official data revealed on Monday.

In the fourth quarter of 2016, Latvia's gross domestic product rose 2.1 percent year on year from a year ago, according to a statement by the Latvian Economics Ministry.

Manufacturing, which rose by nearly 5 percent, was the main driver of Latvia's growth in 2016, it said.

For 2017, Latvia expects the economic growth to quicken to 3 percent. Endit