Lithuania’s central bank, the Bank of Lithuania, has raised its GDP growth forecast for 2024, BNS reports. The central bank now expects the GDP to grow by 2.2% in 2024, up from its previous forecast of 1.9% in June 2024. The central bank projects that the GDP will rise by 3.1% in 2025 and 3.3%…
The Estonian government has agreed to provide EUR 160mn of state support for large-scale export-oriented investments in Estonia over 2025-2028, ERR reports. Economy and Industry Minister Erkki Keldo said that the support mechanism was aimed at regaining Estonia’s competitiveness in attracting investors to knowledge-intensive sectors of the economy. The scheme will be managed by the…
Lithuania’s GDP will grow by 2.3% in 2024 and 2.9% in 2025, according to the Finance Ministry’s revised forecast, BNS reports. In June 2024, the ministry projected that the GDP would grow by 2.1% in 2024 and 2.9% in 2025. Average annual inflation will slow down to 1.0% (1.1%) in 2024, before rising to 2.5%…
Estonia’s services exports totalled EUR 3.1bn at current prices in the second quarter of 2024, which was up 3% from the same period of 2023, according to Statistics Estonia and the Bank of Estonia, ERR reports. Imports of services totalled EUR 2.3bn, which was up 3% as well. The balance of Estonia’s foreign trade in…
Latvia’s foreign trade turnover totalled EUR 23.26bn at current prices in the first seven months of 2023, which was EUR 1.52bn (6.1%) less than in the same period of 2023, according to the Central Statistical Bureau’s (CSP) provisional data, LSM reports. Exports of goods amounted to EUR 10.7bn (down 4%) and imports to EUR 12.56bn…
Estonia’s exports of goods totalled over EUR 1.3bn at current prices in July 2024, which was up 5% from the same period of 2023, according to data from Statistics Estonia, ERR reports. Meanwhile, imports of goods totalled nearly EUR 1.7bn, which was up 1% from a year earlier. Estonia’s trade deficit thus amounted to EUR…
Estonia’s industrial production declined by 5.8% at constant prices on year in July 2024, according to Statistics Estonia, ERR reports. Output rose by 16.9% in mining and 16.3% in electricity production, but fell by 7.8% in manufacturing. The volume of industrial production declined in more than two thirds of manufacturing sectors. Meanwhile, sales of manufacturing…
The cargo turnover of Latvian ports totalled 17.9mn tonnes in the first half of 2024, which was 11.4% less than in the same period of 2023, according to data from the Central Statistical Bureau (CSP), LSM reports. The total volume of outgoing freight amounted to 13.5mn tonnes (up 2.3%) and incoming freight to 4.4mn tonnes (down…
The volume of freight carried by road increased in Latvia, while the volume of rail, sea, and air freight decreased in the first half of 2024, according to the Central Statistical Bureau (CSP), LSM reports. Freight carried by land transport totalled 40.9mn tonnes in six months, which was 2.0% less than a year earlier. Road freight…