Latvia: average prices up in September 2017

The average price level in Latvia in September, as compared to September last year, increased by 2.9%, according to official estimates. The Central Statistical Bureau of Latvia stated, that over the period prices were affected the most by rising prices of food and non-alcoholic drinks, goods and services linked to transport, the group of miscellaneous…

Latvia: construction costs up in August 2017

Compared to July, the level of construction costs in Latvia grew by 0.1% in August. Maintenance and operational costs of machinery and equipment rose by 0.4%, labor remuneration of workers decreased by 0.1%, whereas prices of building materials did not change significantly. Compared to August 2016, construction costs increased by 2.3%. Labor remuneration of workers…

Latvia: transit and logistics industries to communicate more actively

Mutual communication and information exchange among businesses working in the industry is the pre-condition for improvement of Latvia’s transit industry, said Transport Ministry’s state secretary Kaspars Ozolins at a meeting of the Logistics Council. The Logistics Council discussed the situation in the transit and logistics industry, as well as predictions and proposals for improving competitiveness.…

Latvia: transport planning in Riga not reflecting region’s scale

Road Transport Administration plans to speak with Riga and Pieriga administrations about the fractured public transport system in the region, says the administration’s chairman Kristians Godins. Organization for Economic Co-operation and Development has concluded that transport planning in Riga and its region is fragmented and does not reflect Riga region’s scale. OECD believes coordination among…

Latvia disagrees with proposal to reduce cod and herring fishing volumes in the Gulf of Riga

Minister Janis Duklavs met with NGOs at Agriculture Ministry’s Fishing Advisory Council meeting and discussed with them European Commission’s proposal for fishing opportunities in the Baltic Sea in 2018. EC’s proposal for fishing opportunities would affect Latvia the most negatively in relation to eastern cod (project suggests a 28% reduction) and herring (7%). There is…

Latvia: Border Guard to procure new helicopters

Latvian State Border Guard currently evaluates offers for procurement of new helicopters. The country’s National Armed Forces, one the other hand, has no plans to procure new helicopters in the near future. Until then, old helicopters will be kept repaired and in battle-ready condition, according to available information. It should be noted that Latvia currently…

Latvia: GDP up in Q2 2017

Compared to Q1 Latvia’s gross domestic product at constant prices increased by 1.2% in Q2. Compared to the corresponding period of 2016, in Q2 the GDP grew by 4% according to seasonally and calendar non-adjusted data and by 4.8% according to adjusted data. In Q2, the GDP amounted to 6.8 billion euros at current prices…

Latvia: retail trade turnover up in July 2017

Compared to July 2016, the total retail trade turnover rose by 3.9% in July 2017. Turnover of retail trade in food products increased by 4.6%, and turnover of retail trade in non-food products grew by 3.3%. The most significant turnover growth in non-food product group was recorded in retail sale of information and communication equipment…

Latvia: number of debtors to SRS increasing

The number of companies that are indebted to State Revenue Service continues to increase. Since May there has been an increase in the number of people engaged in business activities, as well as the number of debtors to SRS, according to data from the Credit Information Bureau. CIB’s database has information about 44,000 businesses’ and…