Latvia’s total retail trade turnover rose by 1% in 2024 compared to 2023, according to calendar-adjusted data at constant prices published by the Central Statistical Bureau (CSP), LSM reports. The annual turnover of retail trade in food products decreased by 1.6%, whereas retail trade of non-food products (except automotive fuel) increased by 2.3%. Retail sales…
The Latvian parliament, the Saeima, has passed in final reading amendments further limiting alcohol sales and advertising as of 1 August 2025, LSM reports. Under the amendments, the sale of alcoholic beverages will be permitted from 10am to 8pm on Monday to Saturday and from 10am to 6pm on Sunday, thus reducing the availability of…
Estonia has implemented a new rounding rule for cash payments as of 1 January 2025, The Baltic Guide reports. Under the new “Swedish rounding” rule, the final cash transaction totals will be rounded to the nearest five cents, reducing the need for one and two cent coins. The coins will still remain legal tender, however….
Latvia’s total retail trade turnover rose by 0.8% on year in August 2024, according to the Central Statistical Bureau’s (CSP) calendar-adjusted data at constant prices, LSM reports. Retail sales of food products decreased by 4.6%, while retail sales of non-food products (excluding automotive fuel) increased by 5.0% and automotive fuel by 0.6% over a year….
Estonia’s retail trade turnover totalled EUR 889mn in August 2024, which was down 4% from the same period of 2023, according to data from Statistics Estonia, ERR reports. Retail sales of manufactured goods dropped by 4% and food products by 4% as well. Compared to July 2024, overall retail trade declined by 1%. According to…
Lithuanian supermarket operator Maxima Group generated consolidated revenue totalling EUR 3bn in the first half of 2024, which was up 4.7% from the same period of 2023, GlobeNewswire reported. Like-for-like retail sales rose by 2.2% over a year, including by 4.7% in the Baltic States. Online sales dropped by EUR 8mn. The group’s six-month EBITDA…
Estonia’s central bank, the Bank of Estonia, will stop ordering one and two-cent coins as of 2025, ERR reports. Under new rounding rules, cash transactions will be rounded to the nearest five cents. Rait Roosve, head of the Bank of Estonia’s cash and payment systems department, noted that the smallest coins were seldom used for…
US electric car maker Tesla has opened its first pop-up store in Lithuania, BNS reports. The store is located at the Akropolis shopping mall in Vilnius. The company plans to open a permanent store and service centre in Vilnius in early 2025, Invest Lithuania reported. Tesla’s Dutch arm, Tesla International, established a subsidiary in Lithuania…
One of Estonia’s wealthiest businessmen, Margus Linnamäe, will buy out his business partner, Ivar Vendelin, in the Apollo and MM Group investment companies, ERR reports. Vendelin will focus on real estate investments instead. Following the transaction, Apollo will be fully owned by MM Group. Linnamäe will own 98% and lawyer Aare Kurist the remaining 2%…