In January, the port of Ventspils handled 1.26 million tons of cargo, up by 6% YoY. The port handled 856,000 tons of liquid bulk cargo, 203,000 tons of dry bulk cargo and 197,000 tons of general cargo. In the reporting period, the port welcomed 122 ships including 86 dry bulk cargo carriers and 36 tankers.…
Latvijas dzelzcels (LDz) subsidiary SIA LDz Cargo has been abusing its dominant position on the railway freight market, as reported by Competition Council (KP). Looking at LDz Cargo’s operations and their compliance with the Competition Law, KP found there were four freight carriers active on Latvia’s railway freight market. However, LDz Cargo has been abusing…
Compared to Q4 2019, gross domestic product (GDP) decreased by 1.4%, according to seasonally and calendar non-adjusted data in Q4 2020. According to provisional estimations, the GDP was affected by output rise in producing sectors of 3.7%. In services sectors there was a drop of 3.2%, according to the flash estimate from the Central Statistical…
Teachers, assistant teachers and nannies of pre-school education institutions and special education institutions will be paid single-time benefit for work performed during Covid-19 pandemic, as reported by the Education and Science Ministry. The government has allocated EUR 6.3 million from the state budget program for emergencies. The total size of the single-time benefit per hourly…
In 2020, Latvia’s State Environment Service (VVD) performed a total of 4,665 fishing inspections within Latvia’s internal waters, VVD reports. VVD inspected a total of 8,495 bodies of water in the country. In spite of the country’s adopted measures adopted to limit the spread of Covid-19, the number of inspections performed in this area last…
According to a study by Oxford Research Baltics, the losses the aviation industry suffered in 2020 compose 19.4% of the total expected GDP decline in Latvia. However, the total influence, including indirect and induced effect, reaches 43% of the total GDP decline, as reported by Latvian Aviation Association. Estimates form Oxford Research Baltics showed that…
On January 25, Japanese credit rating agency R&I maintained Latvia’s credit rating at A-level with a stable future outlook, the State Treasury reported. In spite of the negative effect from Covid-19 pandemic, which caused a massive decline for Latvia’s economy in 2020, the agency claims the framework of economic growth is not affected and it…