The number of new businesses registered in Latvia totalled 8,772 in 2023, according to data from enterprise database Lursoft, LETA reports. Meanwhile, the number of businesses liquidated amounted 7,844 in 2023, which was the lowest number since 2015. In the previous seven years, the number of liquidated enterprises exceeded the number of new businesses. Over…
Retailers in Estonia expect declining sales in the first half of 2024 amid lower consumer confidence, ERR reports. Many consumers plan to go shopping in neighbouring countries due to the rise in the VAT rate from 20% to 22% as of 1 January 2024, according to a Norstat poll for Citadele bank, BNS reports. The…
The share of renewable sources in total energy consumption in the Baltic States was highest in Latvia in 2022, LSM reports. Eurostat data showed that 43.3% of Latvia’s gross final energy consumption came from renewable sources in 2022, which was up from 42.1% in 2021. Estonia came in second with 38.5% (37.4%), followed by Lithuania…
Estonia’s population totalled 1,373,101 people in the beginning of 2024, according to Statistics Estonia’s preliminary data, ERR reported. The country’s population thus increased by 4,184 people in 2023, including by 6,239 people in Harjumaa county and 2,025 people in Tartumaa county. The population decreased by 1,413 people in Ida-Virumaa county. Statistics Estonia will release more…
The minimum wage rose in all three Baltic States as of 1 January 2024, WageIndicator reported. The highest minimum monthly gross wage is in Lithuania, rising from EUR 840 in 2023 to EUR 924 in 2024. In Estonia, the minimum wage went up from EUR 725 to EUR 820 per month. Latvia has the lowest…
Lithuania’s excess mortality, which surged during the peak of the coronavirus pandemic, has now returned to pre-pandemic levels, according to experts, LRT reports. In the first eleven months of 2023, nearly 32,000 people died, which was down from almost 39,000 in the same period a year earlier, 43,000 in 2021, and 37,000 in 2020. Despite…
Lithuania’s real GDP totalled EUR 53.2bn at current prices in the first nine months of 2023, which was down 0.5% from the same period of 2022, according to the State Data Agency’s first estimate, BNS reports. In the third quarter of 2023, the GDP totalled EUR 19.2bn, which was up 0.1% from a year earlier….
The average level of consumer prices in Latvia rose by 3.3% in September 2023, compared to the same period of 2022, according to the Central Statistical Bureau’s data, LSM reports. The rise in food prices accounted for 1.5 percentage points, alcohol and tobacco for 0.6 percentage points, and health care for 0.6 percentage points of…
Estonia’s dwelling price index rose by 5% on year in the second quarter of 2023, according to data from Statistics Estonia, ERR reports. Apartment prices rose by 5.7% and house prices by 3.2%. Compared to the first quarter of 2023, the index rose by 3.8%. Meanwhile, the owner-occupied housing price index rose by 10.6% on…