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…
One-fifth of Latvia’s residents believe using credit and debit cards to perform purchases helps save money. Only 10.7% are confident that using cash helps the economy, according to information from Ferratum Bank. The survey performed by the bank shows that 37% of Latvia’s residents are confident that their expenses do not change regardless of the…
Compared to March 2017, the total retail trade turnover rose by 6.5% in March 2018. Turnover of retail trade in food products has increased by 6.8%, turnover of retail trade in non-food products by 6%, and turnover of retail sale of automotive fuel by 7.3%. Compared to March of the previous year, the most significant…
The total price index of agricultural output in 2017 increased by 11.6% YoY, which was mainly due to the rise in prices of livestock products by 25.8%. The price index of crop products grew by 2.2%. Increase in the price index of livestock products was mainly affected by significant rise in milk prices. The average…
The biggest challenge for mobility in Latvia is the large proportion of gravel roads in the country, said Chairman of Latvian State Roads Janis Lange during an annual road sector conference. 55% or more than 11,000 km of state roads have gravel surface. Nearly all of those roads are of local importance, with low traffic…
In January-March the Freeport of Riga handled 8,223,200 tons of cargo, down by 11.6% YoY. Coal transshipment fell by 8.8%, to 3,189,600 tons. Transshipment of oil products dropped by 43.3%, to 1,052,100 tons, wood pellets – by 3.5%, to 214,100 tons, while transshipment of ore surged almost 2-fold, to 99,800 tons. The port’s container throughput…
All the banks working in Latvia have proven their desire to continue working in the country’s financial sector, says manager of Finance and Capital Market Commission’s Communication Department Ieva Upleja. “So far all banks have confirmed their desire to continue working in Latvia’s financial sector,” said Upleja. As for the banks’ business plans, FCMC representative…