Estonia’s current account deficit totalled EUR 284mn in the second quarter of 2023, according to the Bank of Estonia’s flash estimate, ERR reports. The deficit amounted to EUR 13.0mn in April 2023, to EUR 180.3mn in May 2023, and to EUR 90.7mn in June 2023. The quarterly current account deficit stood at 3% of GDP,…
The volume of electricity produced in Estonia totalled 8,910 GWh in 2022, which was 21% more than in 2021, according to data from Statistics Estonia, ERR reports. Heat production totalled 5,074 GWh in 2022, which was up 8% from a year earlier. The volume electricity generated from shale oil rose by 42%, accounting for 57%…
The volume of electricity generated in Latvia totalled 4,997 GWh in 2022, which was 14.5% less than in 2021, according to the Central Statistical Bureau, LSM reports. Renewable energy sources accounted for 3,783 GWh of the total volume, which was up 1.7% from a year earlier. Hydro power plants generated 2,750 GWh (up 1.6%) and…
Lithuania risks losing millions of euros in EU funds if key reforms, including a tax reform, are not implemented, European Commission (EC) Vice-President Valdis Dombrovskis warned, LRT reports. Dombrovskis will discuss the progress of the tax reform package with Prime Minister Ingrida Simonyte and Finance Minister Gintare Skaiste in Vilnius on 7-8 September 2023. Dombrovskis…
Lithuania’s GDP will decline by 1.4% in 2023 and grow by 2.9% in 2024, the International Monetary Fund (IMF) forecasts, BNS reports. The country’s GDP will continue to rise by 2.7% in 2025, by 2.5% in 2026, by 2.2% in 2027, and by 2.1% in 2028, the IMF projects. Annual inflation will slow down to…
The number of job vacancies in Estonia totalled 11,079 in the second quarter of 2023, which was 17% fewer than in the same period of 2022, according to Statistics Estonia, ERR reports. Altogether 53,849 people were hired and 51,500 people left their jobs in the second quarter of 2023. Labour turnover decreased by 9% over…
Exports of goods from Latvia to countries that continue to trade with Russia have increased rapidly, LSM reports. At the same time as exports to Russia have come to a halt due to sanctions, exports to countries of the Eurasian Economic Union have risen sharply. Exports of mechanical and electrical equipment to Russia have fallen…
A public petition against the Estonian government’s planned car tax collected 65,565 signatures by its close on 31 August 2023, ERR reports. The Estonian Car Owners Association (EAOL) initiated the petition in the middle of July 2023. The number of signatures is the highest ever for public petitions on the Citizen Initiative Portal (Rahvaalgatus). The…
Latvia’s total volume of passenger traffic by all modes of transport increased in the first half of 2023, according to data from the Central Statistical Bureau, LSM reports. The number of passengers carried by land transport totalled 93.1mn, which was 22.9% more than a year earlier. Regular bus traffic carried altogether 52mn passengers, which was…