Latvia: GDP to drop in 2020

Latvia’s GDP may decline by 7% this year, but if a second wave of COVID-19 comes, the country’s GDP may drop by 9%, as detailed in Finance Ministry’s macro-economic development scenario. The macro-economic scenario will be used as foundation for the state budget of 2021 and medium-term budget content in 2021-2023. The base scenario details…

Latvia: unemployment up in Q2 2020

In April-June, unemployment rate comprised 8.6%. Compared to the previous quarter, rate of unemployment has risen by 1.2%, but during a year – by 2.2%. In the result of Covid-19 crisis, the number of unemployed increased. In Q2, the number of unemployed persons aged 15-74 comprised 83.5 thousand, up by 22 thousand YoY and by…

Ukraine: trade turnover down in January-July 2020

In January-July, Ukraine’s trade turnover with countries of the world amounted to $55.48 billion. According to data provided by the State Customs Service, Ukraine imported goods worth $28.8 billion, down by 13% YoY. Exports of goods amounted to $26.6 billion, down by 7%. Accordingly, the foreign trade balance of Ukraine in January-July was negative and…