The economy is overcoming the pandemic successfully, but without joy

Excluding those sectors where the impact of the pandemic was unavoidable, the performance of the Latvian economy last year can be considered rather successful. A great deal of credit goes to the export of goods, which grew by 5.5% in real terms, while the dynamics of the manufacturing industry were among the best in the EU countries last year. The impact of investments was also surprisingly favourable. The opposite picture can be observed in the export of services, where the decline was logical (-21.3%); economic performance was also weakened last year by consumption, which in Latvia fell by 10.3%, in contrast to a decline of approximately 2% in Estonia and Lithuania.