Power plants in Estonia generated 3,619 GWh of electricity from renewable sources in 2025, which was up 7% from 2024, according to transmission system operator Elering, ERR reports. Renewable energy accounted for 68% of total electricity production and covered 41% of total electricity consumption in 2025. Electricity production from wind power amounted to 1,324 GWh…
Lithuania’s GDP will grow by 2.5% in 2025, according to the Bank of Lithuania’s latest forecast, ELTA reports. In September 2025, the central bank projected that the country’s economy would grow by 2.7% in 2025. The bank now expects the GDP to rise by 3.2% in 2026, by 2.3% in 2027, and by 3.0% in…
GDP per capita in the Baltic States was highest in Lithuania in 2024, according to preliminary data from Eurostat, BNS reports. Lithuania’s real GDP per capita stood at 87.5% of the EU average in 2024, followed by Estonia with 79.0% and Latvia with 68.4%. Actual individual consumption (AIC) per capita amounted to 88% of the…
Latvia’s GDP will grow by 1.7% in 2025, according to the Bank of Latvia’s revised macroeconomic forecast, LSM reports. In June 2025, the central bank projected 1.2% GDP growth in 2025. The new forecast expects economic growth to accelerate thanks to increased domestic and external demand. The GDP will grow by 2.8% in 2026, by…
The Latvian parliament, the Saeima, has approved amendments to introduce a reduced 12% value-added tax rate on selected basic food products in 2026, LETA reports. Under the amendments, the lower VAT rate will apply to various bread products, milk, poultry meat, and eggs. The reduced VAT will apply from 1 July 2026 to 30 June…
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…
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…
Latvians are not buying homes due to high prices, insufficient savings and income, and economic uncertainty, according to a Norstat survey carried out for Luminor Bank in September 2025, LSM reports. The survey showed that 27% of Latvian residents cited high real estate prices as the main obstacle to buying a home. Another 24% of…
Estonia’s GDP totalled EUR 10.5bn at current prices in the third quarter of 2025, which was up 0.9% from the same period of 2024, according to data from Statistics Estonia, ERR reported. Compared to the second quarter of 2025, seasonally and working-day adjusted GDP rose by 0.4%. Value added in the energy sector rose by…
