US-based credit rating agency Fitch Ratings has reaffirmed Latvia’s sovereign credit rating at A-, which is unchanged from the previous rating in February 2023, LSM reports. At the same time, the agency revised its rating outlook from stable to positive. Fitch noted that Latvia had eliminated its dependence on Russian energy imports and reduced non-energy…
Latvia’s retail trade turnover fell by 2.3% in June 2023, compared to June 2022, according to the Central Statistical Bureau’s calendar-adjusted data at constant prices, LSM reports. Retail trade of food products declined by 5.2% and non-food products by 2.9%, while retail sales of automotive fuel increased by 5.5% over a year. Retail trade turnover…
Latvia’s GDP fell by 0.9% in the second quarter of 2023, compared to the corresponding period of 2022, according to seasonally and calendar non-adjusted data, the Central Statistical Bureau’s flash estimate indicated, LSM reports. Manufacturing fell by 4.0%, while services grew by 0.6% over a year. Compared to the first quarter of 2023, the GDP…
Estonian consumers made purchases using payment cards, both home and abroad, for a total sum of around EUR 2.5bn in the second quarter of 2023, which was up 5.3% from a year earlier, according to data from the Bank of Estonia, ERR reports. Compared to the first quarter of 2023, card payments rose by 15.2%….
Estonia’s retail trade turnover fell by 9% in the first half of 2023 from a year earlier at constant prices, according to data from Statistics Estonia, ERR reports. In June 2023, retail trade turnover totalled EUR 896mn, which was down 8% over a year. Retail sales in stores selling manufactured goods fell by 12% over…
Construction costs in Latvia increased by 4.1% in June 2023, compared to a year earlier, according to data from the Central Statistical Bureau, LSM reports. Labour remuneration rose by 6.7%, maintenance and operational costs of machinery and equipment by 5.8%, and prices of building materials by 2.2% over a year. Compared to May 2023, construction…
The average gross monthly salary in job advertisements in Estonia amounted to EUR 1,481-1,947 in the first half of 2023, which was 13% higher than in 2022, according to data from recruitment portal CV Keskus, Postimees reports. The average salary offered for top specialists and middle managers stood at EUR 2,170-2,728 (up 17%), for mid-level…
Latvia has currently around 50,000 unemployed people, which is an all-time low, according to data from the State Employment Agency (NVA), LETA reports. The country’s unemployment rate now stands at 5.6%, which is down from 6.3% in the beginning of 2023. Evita Simsone, director of NVA, noted that the small number of unemployed created problems…
The climate and energy ministers of the three Baltic States have agreed to bring forward the synchronisation of the Baltic power grids with the continental European system to February 2025, BNS reports. The national transmission system operators will now agree on the technical details, after which the prime ministers of the three countries will make…
