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…
Consumer prices in Latvia rose by 0.7% in August 2024, compared to the same period of 2023, according to the Central Statistical Bureau’s (CSP) data, LETA reports. Compared to July 2024, consumer prices fell by 0.5%, however. Prices of food and non-alcoholic beverages increased by 3.5%, alcoholic beverages and tobacco by 7%, clothing and footwear…
The consumer price index (CPI) in Estonia rose by 3.2% on year in August 2024, according to data from Statistics Estonia, ERR reports. The price of goods rose by 1.4% and services by 6.3% over a year. Compared to July 2024, the CPI rose by 0.4%. The CPI was affected the most by the increase…
Internet connection speeds in Estonia are among the slowest in the entire EU, ERR reports. According to DELFI, Estonia ranks 26th out of all 27 EU member states by the share of households with internet connections of at least 100 mbps. While 76% of houses have high-speed broadband available, only 35.5% of Estonian households are…
The shadow economy accounts for up to 90% of the car service sector in Latvia, which has completely distorted competition, Andris Kulbergs, board chairman of the Latvian Automotive Association (Auto Asociacija), told LETA. The total turnover of the shadow economy in the sector amounts to almost EUR 200mn per year, the association estimates. The state…
Inflation in Estonia is expected to increase as of autumn 2024, with overall inflation projected to reach 4% by the end of the year, according to some analysts, ERR reports. The analysts attribute the anticipated rise to persistently high energy prices and wage growth driving up service costs. Despite a significant 40% surge in grocery…
Czech company Rekola Bikesharing will launch a bikesharing service in the Estonian capital, Tallinn, at the end of August 2024, ERR reports. The company will have 200 bicycles available. Currently, Rekola’s bikesharing service operates in seven cities in the Czech Republic and Slovakia.
Latvia’s State Revenue Service (VID) is implementing changes to make the institution more customer-friendly towards both residents and businesses, Prime Minister Evika Silina stated, Baltic News Network reports. Speaking after a meeting with VID director general Baiba Smite-Roke, Silina said that VID should become more efficient by reducing tax administration costs. VID plans to develop…
Slowing inflation and strong wage growth in Estonia have increased people’s purchasing power, according to the Bank of Estonia, BNS reports. In June 2024, the consumer price index rose by only 2.5% on year, which was the slowest rate in three years, primarily due to falling energy prices. At the same time, most services have…