Latvia’s national airBaltic airline and Bombardier Commercial Aircraft have announced the signing of a procurement contract for 30 Bombardier CS300 aircraft with option to procure 30 more in the future. This order is an addition to the one signed for the provision of 20 CS300 aircraft. It also forms the foundation for airBaltic’s Destination 2025…
As technologies continue developing, the use of green energy gradually becomes more and more attractive to Latvian residents. The majority of respondents note that they may start using biomass (23%), solar batteries (22%) and even wind turbines (13%) in the next ten years, according to results of Baltic International Bank’s latest Latvian Barometer. When asked…
Compared to the same period of last year, rail freight volume in Latvia dropped by 10.9% in the first four months of 2018 and was 15.673 million tons, according to data compiled by Transport Ministry. International freight volume was 15.26 million tons, down by 11.1%. The volume of domestic freight declined by 0.3% and was…
Compared to Q1 2017 construction output increased by 35.7% in Latvia in Q1 2018. Construction output rise was observed in construction of buildings (44.2%), civil engineering (43.6%) and specialized construction activities (16.3%). Compared to the corresponding quarter of the year before output growth was recorded in all types of civil engineering: construction of roads and…
The proportion of grey economy in Latvia’s construction sector dropped in almost all field last year. For example, while the proportion of envelope waged in 2016 was 34.6%, last year it dropped to 32.1%, says manager of the Partnership of Latvian Construction Entrepreneurs Baiba Fromane. The proportion of companies that do not declare income has…
At the beginning of May the number passengers traveling on the St Petersburg – Tallinn and St Petersburg – Riga routes has increased by 18% when compared to the same period of 2017. Half of those passengers traveled from St Petersburg to Tallinn, according to data from Lux Express. The largest number of Russian tourists…
Latvia’s economy will grow more slowly than it did in Q1. Growth will likely reach at least 4%, predicts Luminor Bank economist Peteris Strautins. SEB Bank’s macroeconomic expert Dainis Gaspuitis is more reluctant in his outlook. He expects economic growth rate to be 3.7%, considering global cycles and negative trends in certain sectors. Swebank senior…