Forestry costs in Latvia increased significantly in 2023 compared to previous years, according to the Central Statistical Bureau (CSP), LSM reports. Forest regeneration costs rose by 6.5-19.3%, forest tending costs by 14.7-50.8%, and timber harvesting costs by 4.4% in final felling and 12.2% in intermediate felling. The overall increase in forestry costs is attributed to higher…
Latvia’s gross energy consumption totalled 185 PJ in 2023, which was 1 % less than in 2022, according to provisional data from the Central Statistical Bureau (CSP), LSM reports. Final energy consumption totalled 170 PJ, which was 0.9 % less than in 2022. Transport used 52 PJ (30.6%) of energy, followed by households with 45 PJ…
Latvia’s industrial production declined by 4.5% in 2023 compared to 2022, according to the Central Statistical Bureau (CSP), LSM reported. Output in manufacturing decreased by 4.5%, in electricity and gas supply by 0.8%, and in mining by 19% over a year. The drop in manufacturing output was the largest annual decline since 2009. Martins Abolins, economist…
Latvia’s total retail trade turnover decreased by 2.1% over a year in 2023, according to the Central Statistical Bureau’s (CSP) calendar-adjusted data at constant prices, LSM reported. Retail sales of food products went down by 3.5% and non-food products (except for automotive fuel) by 2.3%, while retail sales of automotive fuel went up by 1.3%.
Latvia’s annual GDP declined by 0.6% in 2023, according to the Central Statistical Bureau’s (CSP) provisional data. In the fourth quarter of 2023, the GDP dropped by 0.5% over a year, according to seasonally and calendar unadjusted data. Growth in manufacturing stood at 3.6%, while services went down by 0.7%. According to seasonally and calendar-adjusted…
The number of unemployed people in Latvia totalled 63,100 at the end of 2023, which was 700 more than in the same period of 2022, according to the Central Statistical Bureau’s (CSP) estimate, LSM reports. The country’s actual unemployment rate stood at 6.6%, which was unchanged from a year earlier. The number of unemployed men…