The average interest rates on home loans in the Baltic States stood at 5.12% in the second quarter of 2023, which was 3 percentage points higher than in the same period of 2022, ERR reports. The average rate was the highest in 14 years. The Baltic States have the highest mortgage interest rates in the…
Estonia’s current account deficit stood at EUR 20.1mn in June 2023, compared to a deficit of EUR 92.4mn in June 2022, according to the Bank of Estonia’s flash estimate, ERR reports. Exports and imports of goods both fell by 10%, while service exports rose by 3% and imports by 2% over a year. The services…
The number of unemployed people in Latvia totalled 60,600 in the second quarter of 2023, which was 2,200 fewer than in the same period of 2022, according to the Central Statistical Bureau, LSM reports. Compared to the first quarter of 2023, the number of unemployed rose by 800. Latvia’s unemployment rate stood at 6.4%, which…
Latvia’s construction output increased by 16.1% in the first half of 2023 compared to the same period of 2022, according to the Central Statistical Bureau’s calendar-adjusted data at constant prices, LSM reports. Construction of buildings rose by 23.2%, specialised construction activities by 17.5%, and civil engineering works by 2.6% over a year. In the second…
The Estonian Tax and Customs Board (EMTA) collected EUR 6.12bn in taxes in the first half of 2023, which was 4.8% more than in the same period of 2022, ERR reports. State budget revenue amounted to 47.4% of the annual budget target. Social tax revenue rose by 12.2%, personal income tax revenue by 11.7%, and…
Latvia’s foreign trade turnover totalled EUR 21.39bn at current prices in the first half of 2023, which was down EUR 963.9mn (4.3%) from the corresponding period of 2022, according to provisional data from the Central Statistical Bureau, LSM reports. The total value of exports amounted to EUR 9.62bn (down 4.5%) and of imports to EUR…
The number of foreign tourists visiting Estonia totalled 1,110,431 in the second quarter of 2023, which was up 19% from the same period of 2022, according to data from the Bank of Estonia, ERR reports. Foreign tourists spent a total of EUR 375mn in Estonia, which was EUR 62mn more than a year earlier. Meanwhile,…
Estonia’s goods exports totalled EUR 4.8bn in the second quarter of 2023, which was down 11% from the same period of 2022, according to Statistics Estonia’s data, ERR reports. Imports totalled EUR 5.6bn, which was down 15% over a year. Estonia’s trade deficit thus stood at EUR 802mn, which was down by EUR 329mn from…
Latvian President Edgars Rinkevics called for a review of existing electricity distribution tariffs, LSM reports. Speaking after a meeting with Prime Minister Krisjanis Karins, Rinkevics said that the behaviour of the market regulator, the Public Utilities Commission (SPRK), was “unacceptable.” He insisted that the increase in electricity tariffs was “disproportionate.” The new tariffs came into…