Lithuania’s new government plans to ease export controls on dual-use goods, LRT reports. Economy Minister Lukas Savickas said that the previous government had imposed the restrictions without consulting businesses first. He insisted that the restrictions must not harm exporters of high-tech products and should only be imposed if companies violate existing sanctions. An industry representative…
Estonia’s exports of services totalled EUR 3.2bn in the third quarter of 2024, which was up 8% from the same period of 2023, according to data from Statistics Estonia and the Bank of Estonia, ERR reports. Imports of services into Estonia totalled EUR 2.4bn, which was up 2% over a year. Estonia’s trade surplus in…
Estonia’s Minister of Regional Affairs and Agriculture, Piret Hartman, is visiting India to promote bilateral trade, BNS reports. She is accompanied by a business delegation of several leading Estonian food and beverage companies. Hartman noted that Estonia was already exporting cheese to India, but suggested that there was also potential for exporting other dairy products,…
Estonia’s GDP totalled EUR 10bn in the third quarter of 2024, which was down 0.7% from the same period of 2023, according to data published by Statistics Estonia, The Baltic Guide reported. This was the tenth consecutive quarter of economic decline. The seasonally and working-day adjusted GDP fell by 0.6% over a year but remained…
The world’s largest bicycle manufacturer, Dutch-based Pon.Bike, has opened a new production facility in Kedainiai in central Lithuania, BNS reports. The company invested EUR 57mn in the factory, which will produce up to 450,000 bicycles per year. The facility, located in the Kedainiai Free Economic Zone (KLEZ), will employ around 600 people. Under an agreement…
Producer prices in Latvian industry declined by 2.6% in August 2024, compared to the same period of 2023, according to data from the Central Statistical Bureau (CSP), LSM reports. Prices declined by 12.7% in energy supply, 1.4% in mining and quarrying, and 0.6% in manufacturing, but increased by 5.3% in water supply and waste management….
Estonia’s producer price index of industrial output (PPI) rose by 1.7% in August 2024, compared to the same period of 2023, according to data from Statistics Estonia, ERR reports. Producer prices rose by on year 1.4% in manufacturing but fell by 1.9% in the production of food products. Compared to July 2024, the PPI rose…
More than 60 Latvian companies are taking part in a large trade mission to the US led by President Edgars Rinkevics, Labs of Latvia reports. Around 80% of the companies represent the service sector. The delegation will visit three cities — Houston, San Francisco, and Denver — over 16-24 September 2024. Economy Minister Viktors Valainis…
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%…