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…
This year’s biggest challenges for retailers will include the decline of numbers of residents and buyer, as well as growing labor force costs, says Swedbank economist Agnese Buceniece. “The change of buyers’ habits and e-commerce remain notable challenges and impressive opportunities at the same time,” says the expert. “International observations show that e-commerce development is…
Currently there is no specific plan to use taxes to improve state goals in relation to climate neutrality in Latvia, said Economy Minister Ralfs Nemiro at a press conference after a government meeting on January 28. In the government’s approved Economy Ministry’s developed National Energy and Climate Plan for 2030 it is proposed reaching “green”…
Last year, investors’ opinion of the competitiveness of Latvia’s economy improved for nearly all indexes, as reported by EY Latvija representatives. At the same time, investors say there is a growing need for national level marketing and downstream improvements to the internal ecosystem. From a total of 17 different factors investors are the most positive…
In 2019 the Freeport of Riga handled 32,762,200 tons of cargo, down by 10.1% YoY. Transshipment of coal fell by 27.2%, to 10,357,700 tons, and oil products – by 7.2%, to 3,791,300 tons, while wood pellets grew by 20.4%, to 1,133,400 tons, and ore – by 29.9%, to 646,200 tons. The port’s container throughput declined…
Freight volume handled in the Port of Liepaja in 2019 fell by 2.7% YoY, to 7,334,200 million tons, the Port Authority reported. Transshipment of grain decreased by 4.6%, to 2,893,900 tons, and anthracite – by 28.2%, to 1,053,700 tons, while construction materials grew by 32.7%, to 1,011,600 tons, and oil products – by 43.6%, to…
Riga City Council’s Transport Department has signed a contract worth EUR 42.5 million with an association of suppliers OTC for the construction of a new bypass in Sarkandaugava, the department reports. The contract provides for the first stage of construction of the transport bypass over railway like Riga-Skulte. According to information available on the website…