The development of the small banking sector could be faster, because at the moment the growth or drop of the banking sector is fully dictated by four largest banks in Latvia, says Finance and Capital Market Commission (FKTK) chairperson Santa Purgaile. “Of course, we are able to say that numerically we have many banks. At…
In January-September, the port of Ventspils handled 9.6 million tons of cargo, down 1.73-fold YoY, with the number of calls having decreased by 16%, to 989, the Port Authority statistics said. In 2019, the port increased its result by 0.8%. This year, the port’s throughput has been decreasing since January. Ventspils port is located near…
The volume of railway freights in January-September declined by 45.5% YoY, to 17.241 million tons, according to data compiled by the Transport Ministry. This includes 15.812 million tons of international transports, down by 47.9%. The volume of domestic transports has increased by 12.1%, to 1.429 million tons. According to available information, the volume of transit…
In August, the foreign trade turnover of Latvia amounted to EUR 2.31 billion, which at current prices was 4.3% less than a year ago, of which the exports value of goods dropped by 3.7% and imports value of goods – by 4.8%. Latvia exported goods in the amount of EUR 1.07 billion, but imported –…
At the end of September, the level of registered unemployment in Latvia drop was 7.7% of economically active population, down by 0.5% MoM, according to information from the State Employment Agency (NVA). At the end of September, there were 70,306 unemployed persons registered with NVA, down by 4,707 persons. The most rapid unemployment decline was…
Compared to September 2019, the average level of consumer prices decreased by 0.3% in September. Prices of goods fell by 1.1%, while prices of services rose by 1.7%. Compared to September 2019, the average level of consumer prices was mainly influenced by the drop in prices of goods and services related to housing, goods and…
It will take two years for Latvia’s economy to recover, said the newly elected member of the council of the Bank of Latvia Andris Vilks on October 5. “We should have had a V-type development. This means a relatively deep and quick fall and a very fast recovery. It would have happened, but what we…