Economics
Economics Ministry: Situation in Latvia’s Labor Market to Keep Improving in H1
By admin at 1 February, 2012, 11:37 am
The situation in Latvia’s labor market will keep improving in the first half of this year, largely due to the positive effects from 2011 extending into 2012, the Economics Ministry said in its latest report on the macroeconomic situation in the country, reported the Baltic News Service. According to the Rīga-based newswire, with the slowdown [...]
Read More >>Total Value of Latvian Exports in 2011 Grew 25 % Y-o-Y to EUR 2.4 Billion in 2011
By admin at 1 February, 2012, 11:36 am
The value of goods exported by Latvia in 2011 reached 1.71 billion lats (EUR 2.43 billion) in what was a 341.8 million lats (EUR 486.34 million), or 25 percent increase, from a year before, according to the Latvian State Revenue Service’s information based on customs declarations, reported the Baltic News Service. According to the Riga-based [...]
Read More >>Japanese Rating Agency R & I Increases Latvia’s Credit Rating by One Grade
By admin at 1 February, 2012, 11:34 am
Contrary to the reduced ratings of other European Union member states, Latvia’s rating has been increased. Japanese ratings agency Rating and Investment Information, Inc. (R&I) has increased Latvia’s foreign currency issuer rating by one grade to BBB- with stable rating outlook. By doing so, R&I returns Latvia’s rating to the investment level. In general, this [...]
Read More >>Latvia Raises Exports of Forestry Products in Jan-Nov 2011 by 16.8% Year-On-Year
By admin at 25 January, 2012, 4:54 pm
During the first eleven months of last year, Latvia exported 1.089 billion lats (EUR 1.54 billion) worth of forestry industry products at a 16.8 percent rise year-on-year, announced the Latvian Agriculture Ministry, the Baltic News Service reported. According to the Rīga-based newswire, exports of timber and timber products reached 947.877 million lats (EUR 1.345 billion) [...]
Read More >>State Employment Agency: 93,600 Jobless People Found Jobs in 2011
By admin at 25 January, 2012, 4:53 pm
93,600 jobless people last year found jobs, announced the State Employment Agency (NVA), the Baltic News Service reported. According to State Revenue Service (VID) data, cited by BNS, in 2011 as many as 93,600 unemployed people registered with NVA found permanent jobs, including 73,235 people or 78 percent found jobs after participation in NVA activities. [...]
Read More >>Bank of Latvia: Inflation in Latvia in 2011 was a Result of Taxes and Global Prices
By admin at 18 January, 2012, 10:54 am
The average consumer price level in December of 2011 remained unchanged, whereas the annual inflation, i.e. consumer price levels compared to December 2010, dropped to 4.0%, reported Bank of Latvia economist Daina Paula. Writing for the website Macroeconomics.lv, Paula noted that the main contributor was the diminished impact of the prices of fuel and unprocessed [...]
Read More >>Bank of Latvia: Unemployment Drop to Halve This Year
By admin at 18 January, 2012, 10:52 am
Registered unemployment rate has stabilized since mid-October, and at the end of 2011 was 11.5% of economically active population, reported Bank of Latvia economist Oļegs Krasnopjorovs. Writing for the website Macroeconomics.lv, Krasnopjorovs observed, “It is expected that during the remaining winter months the level of registered unemployment could rise slightly – 0.1–0.2 percentage points a [...]
Read More >>Latvian President, EU Transport Commissioner Discuss Infrastructure Projects
By admin at 18 January, 2012, 10:50 am
Latvian President Andris Bērziņš met with the European Union’s transport commissioner, Siim Kallas, today, to discuss major regional transport infrastructure projects, as well as issues related to the European Union’s multiyear financial framework for the period between 2014 and 2020. President Bērziņš confirmed that Latvia is interested in and supports Rail Baltica and other transport [...]
Read More >>Foreigners Invest EUR 175 Million in Latvia in Exchange for Residence Permits in 2011
By admin at 4 January, 2012, 10:50 am
Foreigners this year invested 123 million lats (EUR 175 million) in Latvia in exchange of residence permits, said Citizenship and Migration Affairs Board (PMLP) spokesman Andrejs Rjabcevs, the Baltic News Service reported. According to the Rīga-based newswire, Rjabcevs said that, according to the data of PMLP, 1,956 foreigners have used the possibility to apply for [...]
Read More >>Latvian Monetary Financial Institutions Earn EUR 111.7 Million Profit in Jan.-Nov.
By admin at 27 December, 2011, 6:31 pm
Latvian monetary financial institutions (mostly banks) have earned profits totaling 78.5 million lats (EUR 111.7 million) in the first 11 months of 2011, as opposed to losses during the same period last year, announced the Bank of Latvia, the Baltic News Service reported. According to the Rīga-based newswire, in November of this year the monetary [...]
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