In May, actual unemployment rate in Latvia constituted 9.6%, up by 0.4% MoM. Unemployment rate registered by the State Employment Agency (SEA) accounted for 8.4%, up by 0.4%. Unemployment rate has also increased when compared to May 2019 – actual unemployment rate by 3.3% and registered by 2.3%, according to data from the Central Statistical…
During this year’s Ligo celebration – June 23-24 – public transport services in Latvia will not be free of charge. At the same time, however, certain discounts and benefits will be in place, as reported by Riga municipality. As previously reported, to prevent crowds from forming and ensure compliance with COVID-19 restrictions, Riga City Council’s…
The business environment in Latvia when compared to its neighboring countries is not bad, but there is room for improvement, Foreign Investors Council in Latvia (FICIL) board member and PricewaterhouseCoopers board chairperson Zlata Elksnina-Zascirinska has declared. “If we compare with neightboring countries, Latvia’s business environment is not bad,” said Elksnina-Zascirinska. At the same time, she…
When compared to May 2019, consumer prices in Latvia declined by 0.9%, putting the country among 14 European Union member states where deflation was found in this period of time, according to information published by Eurostat. Identical deflation to Latvia’s was observed in Spain. Deflation was higher in Estonia (-1.8%), Luxembourg (-1.6%), as well as…
Under influence from COVID-19 crisis the number of employed people in Latvia may decline by 7.5% or by 69,000, whereas the unemployment level in 2020 may increase to 11%, according to the report from Economy Ministry on the medium and long-term outlooks for the labour market. The ministry notes that along with the rapid spread…
In January-May, the Freeport of Riga handled 10,047,300 tons of cargo, down by 25.8% YoY. According to the port’s statistics, handing of grain increased by 18.3%, to 804,500 tons, coal handling fell by 64.4%, to 4.36 million tons, chemical cargo – by 18.1%, to 587,100 tons, ore – by 16.9%, to 283,100 tons, and oil…
The latest outlook of the Organisation for Economic Co-operation and Development (OECD), published on June 10, predicts an 8.1% GDP decline for Latvia. At the same time, according to OECD’s latest estimates, next year Latvia’s economy will increase by 6.3%. In previous outlooks, published in November 2019, OECD estimated Latvia’s GDP might grow by 2.3%…