Latvia registered the highest gross domestic product growth year-on-year and the seventh highest quarter-on-quarter growth in the European Union in the second quarter of 2013, according to the latest report published by Eurostat, the statistical office of the European Union, reported LETA.

Latvia's GDP grew 4.3 percent in the second quarter of 2013, compared to the respective period in 2012.





Lithuania displayed the second fastest economic growth year-on-year - 4.1 percent, followed by Estonia - 1.4 percent, and Great Britain - 1.4 percent.





Meanwhile, Cyprus registered the largest reduction in GDP - 5.2 percent, followed by Greece - 4.6 percent reduction, as well as Portugal and Italy - two percent reduction for each.





Compared to the second quarter of 2012, GDP fell 0.7 percent in the euro area and 0.2 percent in the EU in the second quarter of 2013.





In comparison with the first quarter of 2013, GDP rose 0.3 percent in the euro area and by 0.3 percent in the EU in the second quarter of 2013.





When compared to the first quarter of the year, Latvia's GDP rose 0.5 percent in the second quarter, the seventh highest quarter-on-quarter growth in the EU.





Portugal recorded the fastest economic growth quarter-on-quarter - 1.1 percent, followed by the Czech Republic, Germany and Finland - 0.7 percent each, as well as Great Britain and Lithuania - 0.6 percent each.





Estonia saw 0.1 percent growth when compared to the first quarter of the year.





The largest reduction in quarter-on-quarter GDP was registered in Cyprus - by 1.4 percent, Italy - 0.2 percent, and the Netherlands - 0.2 percent reduction.