When compared to the same period of the previous year, Latvia had a lower GDP than the average in the European Union in Q4 2019, according to data published by Eurostat for 20 of the union’s countries. According to seasonally adjusted data, Latvia’s GDP increased by 1% in Q4 2019. A more rapid economic growth…
The Freeport of Riga Authority has completed reconstruction of the FG levee, an embankment built to protect the main waterway. It is located in the territory of the Freeport of Riga, on the left bank of the River Daugava, and stretches over a total distance of 1.51 km. The FG levee was built from 1889…
In January, the Freeport of Riga handled 2,130,200 tons of cargo, down by 25% YoY. Transshipment of dry bulk cargo fell by 33.1%, to 1,265,000 tons, liquid bulk cargo – by 8.5%, to 259,300 tons, and general cargo – by 9.2%, to 606,200 tons. The port’s container throughput climbed by 0.2%, to 428,156 TEUs. In…
Freight volume handled in the Port of Liepaja in January climbed by 0.4% YoY, to 570,400 tons. In the reporting period, transshipment of grain grew by 0.6%, to 248,100 tons, anthracite – fell by 90.4%, to 11,500 tons, construction materials – grew by 9%, to 50,100 tons, and oil products – 1.52-fold, to 55,400 tons.…
Latvia’s economy would benefit from some new bank entering the market, said Finance and Capital Market Commission (FKTK) head Santa Purgaile. In spite of claims that there are too many banks in Latvia, she believes it is possible for banks working in a specific niche to work together in the country. Purgaile says that although…
Compared to 2018, manufacturing volume rose by 2%, based calendar adjusted data at constant prices in 2019. Mining and quarrying decreased by 5%, electricity and gas supply – by 4.4%, but industrial production output, which includes previously mentioned sectors grew by 0.8%. Compared to the previous year, growth in manufacturing was affected by output growth…
Compared to Q4 2018, the gross domestic product (GDP) value increased by 1.1% in Q4 2019, according to seasonally and calendar non-adjusted data. Main upward pressure on the GDP was exerted by the volume increase in services sectors (according to preliminary estimates – of 0.9%), including a rise of 1.7% in retail trade. Manufacturing shows…