Estonia’s annual inflation may reach 6% or higher in 2025, driven by the rise in energy and food prices, local analysts forecast, ERR reports. Triinu Tapver, analyst at LHV Pank, said that inflation could amount to as much as 6.2-6.5% in 2025, which would be up sharply from the bank’s earlier estimate of 4.5% at…
Estonia’s annual GDP totalled EUR 39.5bn at current prices in 2024, which was down 0.3% from 2023, according to data from Statistics Estonia, ERR reports. In the fourth quarter of 2024, the GDP totalled EUR 10.6bn, which was up 1.2% from a year earlier. This marked the end of ten quarters of recession in the…
The World Trade Organization (WTO) has again suspended the case over China’s trade restrictions on Lithuania, following a second request from the European Commission (EC), BNS reports. Apparently, EC lawyers have failed to find sufficient proof of Chinese restrictions on Lithuanian goods. The case may now be halted for a year and then terminated if…
Latvia’s general government deficit totalled EUR 849.6mn in 2024, according to the methodology of the European System of Accounts (ESA 2010), the Ministry of Finance announced, LETA reports. The deficit amounted to 2.1% of GDP, which was 0.3 percentage points lower than in 2023. The general government debt totalled EUR 19bn at the end of…
Estonia’s GDP declined by 0.1% on year in the fourth quarter of 2024, according to preliminary data from Statistics Estonia, ERR reports. The seasonally and working-day adjusted GDP remained unchanged compared to the third quarter of 2024. The Estonian economy has been in recession since the end of 2022. However, the pace of decline has…
Lithuania’s two largest banks have raised their inflation forecasts for 2025, BNS reports. SEB Bank now expects annual inflation to reach 3.3% in 2025, while Swedbank’s forecast now stands at 3.0%. In November 2025, both banks projected that annual inflation would reach 2.7% in 2025. The banks kept their inflation forecast for 2026 unchanged at…
The total turnover of retail trade enterprises in Estonia amounted to EUR 10.4bn in 2024, which was down 3% from 2023, according to preliminary data from Statistics Estonia, Baltic News Network reports. Retail sales in grocery stores fell by 3% and in stores selling manufactured goods by 4% over a year. Retail sales of automotive…
Latvia’s total retail trade turnover rose by 1% in 2024 compared to 2023, according to calendar-adjusted data at constant prices published by the Central Statistical Bureau (CSP), LSM reports. The annual turnover of retail trade in food products decreased by 1.6%, whereas retail trade of non-food products (except automotive fuel) increased by 2.3%. Retail sales…
Lithuania’s average gross monthly wage amounted to EUR 2,218 in 2024, which was up by EUR 204 (10.2%) from 2023, according to the State Data Agency (VDA), BNS reports. The average net monthly wage increased by EUR 116 (9.3%) to EUR 1,365. Real wages rose by 8.5% over a year. The main drivers of wage…