Latvia’s Economy Minister, Ilze Indriksone, visited South Korea together with a delegation of Latvian entrepreneurs, LSM reported. She suggested that Latvia could become a gateway to the European market for South Korea. Also, the two countries could cooperate on technology transfer in strategic industries, biotechnology, and biomedicine, Indriksone said. She noted that South Korea was…
Sanctioned luxury cars are being shipped from EU countries to Russia via Lithuania, LRT’s investigation revealed. The luxury cars are usually purchased in Denmark or Germany and then transported to Russia via Lithuania and Belarus. Russian car dealers are openly advertising the transit route via Lithuania and Belarus. In 2022, the EU banned the sale…
Estonia’s economic climate index stood at -19.4 points in June 2023, which was down by almost 9 points from March 2023, according to the Estonian Institute of Economic Research (EKI), ERR reports. The economic confidence index, which combines both business and consumer sentiment, stood at 78.7 points, which was significantly worse than the long-term average….
Lithuania’s Klaipeda State Seaport could ship around 10 million tonnes of Ukrainian grain per year, CEO Algis Latakas announced, BNS reports. However, the logistics of transporting the grain to the port remained complicated, he noted. If the issue of logistics was solved, the port could begin handling Ukrainian grain today, Latakas stated. Earlier, Transport Minister…
Latvia’s foreign trade turnover totalled EUR 17.93bn in the first five months of 2023, which was down EUR 718.4mn (3.9%) from the same period of 2022, according to provisional data from the Central Statistical Bureau, LSM reports. Exports totalled EUR 8.12bn, which was down EUR 281.2mn (3.3%) over a year. Imports totalled EUR 9.81bn, which…
Estonia’s exports of goods totalled EUR 1.6bn at current prices in May 2023, which was down 15% from the same period of 2022, according to data from Statistics Estonia, ERR reports. Exports of goods of Estonian origin fell by 21% and accounted for 65% (69%) of total exports. Overall imports totalled EUR 1.9bn, which was…
