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…
The total production of industrial enterprises in Estonia declined by 10.5% in 2023 at constant prices compared to 2022, according to Statistics Estonia’s data, ERR reports. Output decreased in all three industrial sectors, including in energy production by 21%, in manufacturing by 9.8%, and in mining and quarrying by 4.7%. Production volumes fell every month…
An investigation into the outage of the EstLink 2 power interconnection between Estonia and Finland has so far found no “intentional external damage” in the undersea cable, Estonian transmission system operator Elering announced, ERR reports. The exact location of the fault and the specific cause of the outage remain to be determined, however. Finnish transmission system operator…
Estonia’s and Finland’s electrcity transmission system operators, Elering and Fingrid, have located a fault in the EstLink 2 undersea power cable between the two countries, ERR reports. The location is in the vicinity of the cable landing point on the Estonian coast. The operators concluded that the fault was not caused by external damage. The…
The EstLink 2 submarine power cable between Estonia and Finland went offline on the night of 25-26 January 2024, ERR reported. The cause and exact location of the outage are still unknown. Estonia’s transmission system operator, Elering, assured that there was no threat to the security of electricity supplies to Estonia. The EstLink 1 power…
The Estonian government plans to split the state-owned energy group, Eesti Energia, into three separate companies, Finance Minister Mart Võrklaev announced, ERR reports. He said that the plan was to list shares of network operator Elektrilevi and renewable energy producer Enefit Green on the stock exchange. However, Võrklaev said that he was no longer in…
Latvia’s Minister of Environmental Protection and Regional Development, Inga Berzina, has proposed renaming the ministry to the Ministry of Nature Protection and Regional Development, LETA reports. Earlier, environmental services were transferred to the Ministry of Climate and Energy. Berzina said that the name change could be implemented after the distribution of functions in July 2024….
Estonia’s three-party ruling coalition will meet on 30 January 2024 to discuss the state of the coalition, according to Foreign Minister Margus Tsahkna, chairman of Estonia 200 (E200), ERR reports. Tsahkna said that E200 would propose ways to revitalise the economy, including measures to reform education, ensure labour and capital availability, and stabilise energy prices…
Food prices in Latvia will grow by less than 4% in 2024, Ieva Opmane, economist at the Bank of Latvia, forecast, LSM reports. The price hike will be higher than average inflation but much less than in 2023 and 2022, she said. The rise in food prices will depend on consumer income, energy prices, harvests,…