Latvia: gross domestic product up in Q4 2019

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…

Georgia: economy up in December 2019

Georgian gross domestic product (GDP) grew by 3.8% YoY in December 2019, showed the latest data from the National Statistics Office of Georgia (Geostat). In December 2019 the estimated real growth compared to the same period of the previous year occurred in the following sectors: manufacturing, transport and storage, wholesale and retail trade; repair of…

Armenia: economic activity index up in 2019

The economic activity index of Armenia grew by 7,8% in 2019 compared to the previous year, the Statistics Committee said in a report. During the reporting period the volume of industrial output grew by 9%, the gross agricultural production dropped by 4.2%, construction increased by 4,6% and trade turnover by 8.9%. Volume of services grew…

Latvia: rising labor costs among retailers’ chief challenges

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…

Ukraine: wage arrears down in December 2019

As of January 1, 2020, the arrears of wages of the employees of economically active enterprises decreased by 10% compared to December 1, 2019. Minister of Economic Development, Trade and Agriculture Tymofiy Mylovanov announced the relevant data at a briefing on the results of the Government’s actions. “To date, the wage arrears at the economically…