Compared to March, the level of construction costs in Latvia increased by 0.9% in April. Labor remuneration of workers grew by 2.9%, prices of building materials increased by 0.5%, whereas maintenance and operational costs of machinery and equipment rose by 0.4%. Compared to April 2016, construction costs increased by 2%. Labor remuneration of workers rose…
Trade of natural gas to legal clients in Latvia has commenced. Latvenergo’s Elektrum product offers fixed-price contracts for 12-month supply period. The first gas supply contracts have been signed with clients in Latvia, the company reports. As reported by the company, Latvenergo is the largest gas consumer in Latvia. The company uses approximately 40% of…
Construction work has commenced in Ventspils industrial territory on Talsu Street 200. Latvian National Fisheries Producers’ Organization plans to build a fish freezer facility there, as reported by Ventspils Freeport. It is noted that the 7.3 ha territory on Talsu Street 200, which was used to house an animal farm during the Soviet era, remained…
Looking at the influence of Latvia’s economy on retail trade industry in Q1 2016 and 2017 it becomes clear that future development of this industry depends on migration and inflation growth rates, as concluded in retail trade outlook Maxima Retail Trade Compass. In this outlook, Maxima Latvia experts provide their opinion on the situation in…
Compared to March, the level of producer prices in Latvian industry grew by 0.1% in April. The prices of products sold on the domestic market increased by 0.5%, whereas the prices of exported products dropped by 0.2%. The prices of products exported to euro area countries decreased by 0.2% and of products exported to non-euro…
In Q1 the Latvian unemployment rate constituted 9.4%. Compared to the previous quarter, the unemployment rate increased by 0.1%, whereas, compared to the same period of the year before, the rate reduced by 0.9%. In Q1 91.3 thousand people aged 15-74 were unemployed, which is 10.3 thousand fewer than a year ago and 0.5 thousand…
The micro-enterprise tax has created serious defects for Latvia’s tax system, said Fiscal Discipline Council chairman Janis Platais. “It has caused very serious defects to our tax system. It suffocates growth. It acts against the tax neutrality principle, when taxes should not stimulate one or the other form of business,” Platais said. He believes Latvia…