French risk management company Coface’s ranking of the 50 largest companies by turnover in the Baltic States in 2024 includes 28 companies in Lithuania, 15 in Estonia, and 7 in Latvia, LETA reports. The top five companies are all from Lithuania: retail holding group Vilniaus Prekyba with a consolidated turnover of EUR 8.02bn in 2024,…
The Latvian parliament, the Saeima, has approved amendments raising the excise taxes on alcoholic beverages, tobacco products, and sweetened beverages as of 2026, BNS reports. The aim is to reduce the consumption of products that are harmful to the environment and health, LSM reports. The excise duty on strong alcoholic beverages will rise as of…
The number of passengers using public transport in Latvia continued to rise in the first three quarters of 2025, according to data from the Central Statistical Bureau (CSP), LSM reports. Land transport carried a total of 143.4 million passengers in nine months, which was 1.1% more than a year earlier. The number of passengers using…
The Latvian parliament, the Saeima, has approved in final reading the state budget for 2026, LSM reports. Altogether 52 MPs voted for and 42 against the budget bill. This is the current coalition government’s third budget. The government foresees annual revenues of EUR 16.1bn, which would be EUR 944.6mn more than in 2025. Budget expenditures…
The presidents of the three Baltic States met in the Latvian capital, Riga, on 4 December 2025 for their annual pre-Christmas meeting, LSM and BNS reported. Latvian President Edgars Rinkevics said that key issues discussed included defence and security, border protection, and support for Ukraine. He emphasised that “if you look at the map, the…
Latvia’s industrial production output increased by 8.8% in October 2025, compared to the same period of 2024, according to calendar-adjusted data from the Central Statistical Bureau (CSP), LSM reports. Output in electricity and gas supply rose by 10.1% and in manufacturing by 9.5%, but fell by 16.1% in mining and quarrying. Compared to September 2025,…
The Latvian parliament, the Saeima, has approved in final reading draft laws accompanying the state budget for 2026, LETA reports. MPs will now begin discussing the draft budget. The government’s budget priorities are national security, support for families with children, and high-quality education. Revenues are planned at EUR 16.1bn and expenditures at EUR 17.9bn. The…
Lithuania recorded the largest increase in net electricity generation in the EU over 2013-2023, according to data from Eurostat, LSM reports. Lithuania’s net electricity production rose by 28.2% in the ten-year period. Latvia recorded a slight increase in electricity generation as well. Meanwhile, Estonia’s electricity generation decreased by as much as 58.5% over the same…
Swedish-owned IKEA Group has received permission from the Estonian Competition Authority (Konkurentsiamet) to acquire 18,000 hectares of forest from Swedish-owned Södra Forest Estonia, ERR reports. Under the deal, IKEA Group’s subsidiary, Ingka Investments, will buy Södra’s forests in Estonia and Latvia for EUR 720mn. Latvia’s Competition Council has received notification of the deal. Södra owns…