The unemployment level observed in Latvia in March was 8.7%. This level exceeds that of the European Union and Eurozone, according to data published by Eurostat about 25 member states on April 30. According to data from Eurostat, unemployment among EU member states was the highest in Spain (15.3%), Italy (10.1%), Sweden (9.1%) and Lithuania…
The global shortage of empty containers has reached Latvia as well, according to companies active at Riga Freeport. The freeport authority’s Public Relations and Marketing Office head Liene Ozola mentions that the shortage of empty containers is the direct consequence of the Covid-19 pandemic. Industry experts said that under the pandemic the traditional logistical chains…
Compared to March 2020, total retail trade turnover increased by 3.2% in March 2021. Turnover of retail trade in food products grew by 2.1%. Retail trade in non-food products (except for retail sale of automotive fuel) increased by 3.6%, but turnover of retail sale of automotive fuel – by 4.9%, according to adjusted data from…
Since December 2020 Latvian State Revenue Service (VID) has paid EUR 115,602,164 in downtime benefits and wage subsidies, as reported by VID representatives. The amount paid in downtime benefits and wage subsidies has increased by EUR 1,695,166 over the course of the past several days. 43,319 companies have been paid downtime benefits worth EUR 77,093,695…
The Latvian national airline airBaltic and Riga International Airport have signed a land lease to construct a new cargo hangar Baltic Cargo Hub within the airport’s territory. This hub is planned to become the biggest freight-processing center in the Baltic region, as reported by the airline. Current plans suggest the total area of Baltic Cargo…
In 2020, general government budget deficit accounted for EUR 1.3 billion or 4.5% of the Gross Domestic Product (GDP) and general government consolidated gross debt amounted to EUR 12.7 billion or 43.5% of the GDP. Under the impact of Covid-19 pandemic in 2020 general government revenues, compared to 2019, reduced by 0.4% and comprised EUR…
The amount of cash in circulation in Latvia has leveled out as a result of borders becoming closed following the start of Covid-19 pandemic, as reported by the Financial Intelligence Unit (FID) manager Ilze Znotina. “We believe it is related to large amounts of cash being carried over the border. We have informed the State…