Exports of goods from Latvia to countries that continue to trade with Russia have increased rapidly, LSM reports. At the same time as exports to Russia have come to a halt due to sanctions, exports to countries of the Eurasian Economic Union have risen sharply. Exports of mechanical and electrical equipment to Russia have fallen…
Turkish-owned Liepaja Steel has abandoned plans to resume production at its steel plant in the Latvian city of Liepaja, LETA reports. The company will dismantle the plant’s steel melting furnace and move the machinery to Türkiye. Liepaja Steel failed to reach agreement with the Liepaja city council and the Liepaja Special Economic Zone (Liepajas SEZ)…
Latvia’s state-owned energy holding, Latvenergo, posted all-time record revenue and profit in the first half of 2023, LSM reports. The group’s six-month turnover amounted to over EUR 1.1bn, which was up 56% from the same period of 2022. The group’s profit rose by 57% to EUR 222.5mn. Latvenergo attributed the record performance to the spring…
Around 4,500 Russian citizens may be asked to leave Latvia as they have failed to renew their residence permits, LSM reports. The permanent residence permits of altogether 25,300 Russian nationals living in Latvia expired on 1 September 2023. About 19,000 of the Russians have applied or plan to apply for renewal, and a little over…
Latvia’s total volume of passenger traffic by all modes of transport increased in the first half of 2023, according to data from the Central Statistical Bureau, LSM reports. The number of passengers carried by land transport totalled 93.1mn, which was 22.9% more than a year earlier. Regular bus traffic carried altogether 52mn passengers, which was…
The total volume of freight transported in Latvia by all means of transport decreased in the first half of 2023, according to data from the Central Statistical Bureau, LSM reports. Cargo carried by land and pipeline transport totalled 41.8mn tonnes, which was 16.5% less than a year earlier. The volume of road freight alone amounted…
Latvia’s GDP totalled EUR 19.3bn at current prices in the first half of 2023, according to data from the Central Statistical Bureau, LSM reports. Compared to the corresponding period of 2022, the GDP rose by 0.1%. In the second quarter of 2023, the GDP totalled EUR 10.2bn at current prices. The quarterly GDP fell by…
Latvia’s New Unity will form a new coalition government with the Union of Greens and Farmers (ZZS) and the Progressives, New Unity’s prime minister candidate, Evika Silina, announced, LSM reports. Silina said that the Latvian parliament, the Saeima, could possibly vote on endorsing the new government on 15 September 2023. The new coalition would have…
Latvia’s average gross monthly wage amounted to EUR 1,525 in the second quarter of 2023, which was up 12.0% from the same period of 2022, according to the Central Statistical Bureau’s working-day and seasonally non-adjusted data, LSM reports. Average wages rose by 12.2% in the public sector and by 11.9% in the private sector over…
