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WEEK 24th 2003

Friday, 13th of June, 2003

We are spending more
In the first quarter of 2003, the turnover of retail sales in Latvia has reached LVL 796.1 million, which is 12% more than in the respective time period last year. According to the data provided by the Central Statistical Bureau of Latvia, the largest growth was experienced in the sales of textiles, clothes, shoes and leather products, reaching LVL 22.7 million. The President of the Association of Light Industry Enterprises, Guntis Strazds, admits that the increase in the turnover of retail sales could be influenced by the growth of the consumer power of the inhabitants, the increase in the prices of the products, and the fluctuations of the currency exchange rate.
(Dienas Bizness)

Thursday, 12th of June, 2003

Plan to establish Maritime Board
In order to facilitate and improve the cooperation of state institutions with maritime organisations, the Ministry of Transport intends to establish a special Maritime Board.
(Dienas Bizness)

Latvia rapidly increases export this year
In the first quarter of 2003, Latvia has reached a high index of export. The experts are explaining the rapid increase with the rehabilitation of the industry. In the first quarter of 2003, export has increased by 19.1% and has reached a total of LVL 512 million, whereas the volume of import has grown by 20.7%, and reached LVL 879 million. In April, export increased more rapidly than import. Export to the EU countries increased by 24.6% in the first quarter this year, if compared to respective time period last year. Export to the EU countries amounted to 63% of Latvia's entire export.
(Dienas Bizness)

Wednesday, 11th of June, 2003

Economy of Latvia booms
According to the Central Statistical Bureau of Latvia, in the first quarter of the current year, GDP of Latvia has increased by 8.8%, if compared to that period last year. It is one of the largest quarterly growths in recent years. The greatest increase was for the sphere of trade and construction. The volume of trade has grown by 17.3%, whereas construction has increased by 17.5%.
(Diena)

Monday, 9th of June, 2003

Volume of retail sales grows
The retail sales of Latvia have increased by 13% in the first quarter of 2003, if compared to respective time period last year. Latvia had the greatest growth in the retail sales among the Baltic States in the first quarter this year. In January 2003, the retail sales increased by 14%, however, in March it was only 11%. The specialists of Latvijas Unibanka anticipate that the growth of the retail sales in Latvia will slow down in the nearest future. In 2002, the growth on the retail sales was 17.8%, if compared to 2001.
(Biznes&Baltija)

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