Estonia’s GDP will decline by 1.8% in 2023 and grow by 1.5% in 2024, according to SEB Bank’s latest forecast, ERR reports. The average unemployment rate will reach 6.5% in 2023 and 6.9% in 2024, the bank projects. Mihkel Nestor, chief economist at SEB, noted that the outlook for the Estonian economy has deteriorated in…
The number of non-cash payments in Latvia totalled 394.2mn in the first half of 2023, which was 10% more than in the same period of 2022, the Bank of Latvia reported. The total value of non-cash payments amounted to EUR 150.7bn, which was up 26% from a year earlier. The average number of payments was…
Estonia’s real GDP will decline by 2.0% in 2023, according to the Ministry of Finance’s latest forecast, BNS reports. The GDP will grow by 2.7% in 2024, by 3.0% in 2025, by 2.5% in 2026, and by 2.2% in 2027, the ministry projects. Earlier, the ministry expected real GDP to drop by 1.5% in 2023…
Latvia had a total of 62,200 people unemployed in July 2023, which was 4,100 less than a year earlier but 600 more than a month ago, according to the Central Statistical Bureau’s labour force survey, LSM reports. Latvia’s actual unemployment rate stood at 6.5% in July 2023, which was down 0.4 percentage points from a…
Estonia’s producer price index (PPI) of industrial output fell by 3.2% on year in July 2023, according to Statistics Estonia’s data, ERR reports. Compared to June 2023, the PPI fell by 1.0%. Producer prices fell by 1.1% over a year in manufacturing but rose by 5.8% in food production. Export prices declined by 3.0% and…
Latvia’s greenhouse gas emissions rose by 7.5% in the first quarter of 2023, compared to the same period of 2022, according to Eurostat data, LSM reports. The increase was the second highest in the EU. Overall greenhouse gas emissions in the whole EU decreased by nearly 3% over a year.
More than 50,000 people in Estonia have signed a public petition against the introduction of a car tax, BNS reports. The petition is thus the most successful public petition to date in Estonia. The petition is open until 31 August 2023. Priit Tammeraid, board chairman of the Estonian Car Owners Association (EAOL), said that the…
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…