Economics
Latvia’s GDP Grows 3,1% in Q1
By Latvia Today at 14 May, 2013, 10:25 am
Latvia’s gross domestic product (GDP) value has increased by 3,1% in the first three months of 2013, compared to the first quarter of 2012, according to a flash estimate of seasonally unadjusted data by the Central Statistical Bureau. The GDP was impacted by increases in retail trade – of 6%, in construction – of 9%, [...]
Read More >>IMF Expects 4% Growth for Latvian Economy in 2013
By Latvia Today at 14 May, 2013, 10:24 am
Latvia’s strong economic recovery continues, and the economy is expected to grow in a balanced way at around 4% this year, the International Monetary Fund (IMF) said in its concluding comments of the Staff Visit to Latvia, May 7–13. “Inflation and the current account deficit are low and projected to remain so in the medium [...]
Read More >>Industrial Production up 0,7% in March
By Latvia Today at 8 May, 2013, 3:09 pm
Compared to February of this year, volume of industrial production in March 2013 rose by 0,7%, according to the seasonally adjusted data at constant prices of the Central Statistical Bureau. The biggest increase, 8%, was recorded in electricity and gas supply. In March 2013, industrial production output at current prices comprised 431 million lats. As [...]
Read More >>Latvia Registers EU’s Biggest Retail Trade Increase in March – Eurostat
By Latvia Today at 8 May, 2013, 3:06 pm
Latvia has had the third biggest annual increase of retail trade volume in March 2013, compared to March 2012, among the European Union (EU) states, Eurostat, the statistical office of the EU, reports. Among the Member States for which data are available, total retail trade fell in fourteen and rose in seven. The largest decreases [...]
Read More >>Latvian Banking Sector Reports 63.4 Million Euro Profit in Q1
By Latvia Today at 30 April, 2013, 10:04 am
The Latvian banking sector reported 44.6 million lats (EUR 63.4 mln) in aggregate profit for the first quarter of 2013, which was an 18% rise from the same period a year ago, according to information from the banking regulator, the Finance and Capital Market Commission (FKTK). FKTK spokeswoman Laima Auza said that 16 Latvian banks [...]
Read More >>Producer Prices of Agricultural Goods up 3.5% in 2012
By Latvia Today at 30 April, 2013, 10:03 am
Compared to 2011, producer prices of agricultural goods have increased by 3.5% in 2012, according to the latest data of the Central Statistical Bureau. An infographic “Producer prices in agriculture, 2012” is available at http://www.csb.gov.lv/sites/default/files/dazadi/web_versija_eng.pdf In comparison with 2011, prices of crop products in 2012 have grown by 4.1%, of which prices of grain – [...]
Read More >>Producer Prices Stabilize Production for Domestic Market
By Latvia Today at 23 April, 2013, 11:54 am
In March 2013, producer prices did not rise substantially month-on-month (+0.1%) and continued to even drop for the production sold domestically (by 0.4%), because for several months, energy production prices remained their main reducing component. Since the drop in energy production prices exceeded the one observed in March a year ago, the year-on-year rise in [...]
Read More >>General Government Budget Deficit Dropped to 1,2% of GDP in 2012
By Latvia Today at 23 April, 2013, 11:51 am
Latvia’s general government budget deficit at the end of 2012 comprised 187,2 million lats or 1,2% of the Gross Domestic Product (GDP), according to the results compiled by the Central Statistical Bureau (CSB). Compared to provisional data of the Treasury, which show that the government consolidated budget surplus was 19,1 million lats or 0,1% of [...]
Read More >>Saeima Extends Tax Relief Period in Free Ports and Special Economic Zones
By Latvia Today at 9 April, 2013, 10:11 am
On Thursday, April 4, the Latvian Parliament Saeima adopted amendments to the Law on Application of Taxes in Free Ports and Special Economic Zones in the final reading. The amendments stipulate that licenced capital companies and free port administrations are entitled to direct tax relief until December 31, 2035. The period has been extended in [...]
Read More >>IMF Announces Closure of Resident Representative Office in Latvia
By Latvia Today at 9 April, 2013, 10:10 am
The International Monetary Fund (IMF) announced on April 2 that it will close its office in Riga in the summer of 2013, after Resident Representative David Moore completes his posting. The IMF had opened the office in mid-2009 following the Executive Board’s approval of a Stand-By Arrangement for Latvia in late 2008. “Latvia successfully completed [...]
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