Latvia: demand for seasonal fruit increases

Compared with the previous year, demand for seasonal fruit grew this summer: 31% for peaches, 35% for plums and 63% for apricots at Maxima Latvia supermarkets. “Although residents also put unusual fruit in their baskets, such as plum and peach hybrids, preference remains high for usual seasonal fruit – peaches, plums, cherries, etc. Last summer,…

Latvia: throughput of port Riga down in H1 2017

In January-June the Freeport of Riga handled 17,512,200 tons of cargo, down by 4.1% YoY. Coal transshipment climbed by 7.4%, to 6,398,600 tons, wood pellets by 13.4%, 353,000 tons, oil products dropped by 31.8%, to 3,270,400 tons, ore by 9.2%, to 165,400 tons. The port’s container throughput grew by 14%, to 208,107 TEUs. Passenger turnover…

Latvia: inflation up in June 2017

The average price rate in Latvia comparing June 2016 to June 2017 has increased by 3% as products got 2.6% more expensive, services – by 4%, calculated the Latvian Central Statistical Bureau. The statisticians found that compared to June 2016, last month the greatest pressure on the price changes was put by the rise in…

Latvia: farming efficiency on the rise

With increased investments, Latvian farmers have managed to increase efficiency in the industry, a bank survey showed. According to the results of a survey performed by Swedbank, in 2017 farmers plan to invest money in grain dryers and towers, in updating machinery and buying agricultural land. “It is positive that farmers recognize that new technological…

Latvia: retail trade turnover up in May 2017

Compared to May 2016, total retail trade turnover rose by 3.8% in May 2017. Turnover of retail trade in food products increased by 2.4% and turnover of retail trade in non-food products grew by 4.8%. The most significant growth in turnover in the non-food product group was recorded in retail sale of information and communication…

Latvia: forest regeneration costs down in 2016

In 2016 the average forest regeneration costs, depending on the forest land quality group, varied between 551 and 600 euros per hectare. In 2015, these costs constituted 620-687 EUR/ha. The forest regeneration costs include expenditure on soil preparation, small sapling expenses and planting costs, according to data from the Central Statistical Bureau of Latvia. In…

Latvia to introduce electronic working time tracking in construction

Saeima’s Budget and Finance Commission has expressed unanimous conceptual support for amendments to the Law on Taxes and Duties. These amendments provide for the introduction of electronic working time tracking system in construction, Saeima’s press-service reported. Finance Minister Dana Reizniece-Ozola told members of the Saeima that a solution for electronic working time tracking was achieved…

Latvia: potential of business service centers remains unexplored

The role of international business service centers keeps increasing in the global economy. In Latvia, however, their potential remains largely unexplored, says New Hanza City project’s developer Pillar representative Guntars Cauna. Business centers’ specifics are dictated by their functions, says Cauna. The most common functions are accounting or wage management, data processing and functions that…