The state budget program Financing for Emergencies will be increased by another EUR 500 million, making so that the planned funding amount for emergencies exceeds EUR 800 million this year. Initially it was planned to allocate EUR 26.73 million for emergencies for Latvia’s state budget of 2021. In January, however, Finance Ministry submitted to the…
Freights with added value represent the future for Latvian ports, as both ports and the state would benefit from them, says board chairman of Liepaja Special Economic Zone (SEZ)-based company Terrabalt, Liepaja Port Tenants Association representative Aris Ozolins. He said the decline of coal freights was enormous at Latvian ports. However, looking at it from…
As of the end of January, the registered unemployment level in Latvia was 8% of the economically active population, up by 0.3% MoM, according to information from the State Employment Agency (NVA). There were 72,612 unemployed people in Latvia as of the end of January, up by 3,007 people. The lowest registered unemployment level observed…
In December 2020, the foreign trade turnover of Latvia amounted to EUR 2.56 billion, which at current prices was 5.8% larger than a year ago, of which the exports value of goods was 12.5% higher, but imports value of goods – 0.9% higher. In December 2020, Latvia exported goods in the amount of EUR 1.15…
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…