Latvia’s annual growth in gross domestic product was 5.5 percent in the first quarter of 2012. The second highest increase belongs to Lithuania with 4.3 percent followed by Estonia in the third place with 4 percent.

Latvia’s economy showed the fastest annual growth rate among the European Union countries in the first quarter of 2012, the Eurostat statistical office reported. According to the Latvian news agency, LETA, Latvia’s GDP annual growth rate was 5.5 percent during the same period last year. The second highest increase belongs to Lithuania with 4.3 percent followed by Estonia in the third place with 4 percent. In the first quarter, GDP growth was registered in 11 EU countries; it remained unchanged in the UK and showed a decline in 8 countries. Data on the other EU countries are under development.

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