In July, the foreign trade turnover of Latvia amounted to EUR 2.38 billion, down by 3.5% YoY at current prices was 3.5%, of which the exports value of goods dropped by 0.3%, and imports value of goods – by 5.9%. Latvia exported goods in the amount of EUR 1.05 billion, but imported – in the…
Prime Minister Krisjanis Karins hopes the government will be able to approve next year’s budget framework as soon as next week, as the politician admitted in a conversation with journalists after meeting with coalition partners on September 7. The prime minister explained that the next year’s state budget would be the main topic of government…
Tax collection in Latvia continued to improve in August, securing 8% more to the state budget when compared to the same month of 2019, according to the report from Fiscal Discipline Council (FDP). The council stresses that collection of compulsory state social insurance contributions has improved. “This means the previous outlook, about the lowest point…
Compared to July 2019, manufacturing production output rose by 1.8% in July 2020. Production output increase was also in mining and quarrying (of 11.5%), but in electricity and gas supply there was a drop of 14.1%). Total industrial production output increased by 0.1%. Compared to the corresponding month of the previous year, production output rise…
Gaso has turned to Latvia’s Public Utilities Commission (SPRK), submitting a new tariff project for natural gas transmission system. This project provides for an increase of fixed and variable components only for small connections with low consumption, as reported by Gaso. It provides for a small fixed fee increase of 5% for second to eighth…
The majority of residents in Latvia (72%) believe the priority to assist with development of new businesses in Latvia is tax benefits, according to a survey performed by the Investment and Development Agency of Latvia Norstat Latvija as part of the innovative business ideas contest. Meanwhile, 53% of respondents admit one of the most useful…
In April-June, compared to Q2 2019, gross domestic product (GDP) decreased by 8.9% (according to seasonally and calendar non-adjusted data). In the first half of the year GDP reduced by 5.4%. In Q2, GDP at constant prices was EUR 6.9 billion. As compared to the previous quarter, GDP fell by 6.5% (according to seasonally and…