|WEEK 24th 2004
Thursday, the 10th of June, 2004
Amount of retail trade grows
In January-April 2004 the amount of retail trade grew by 14% in comparison with the same period of 2003. In April 2004 this index grew by 2.7% in comparison with March and by 18% in comparison with April last year. Turnover of the companies selling mainly cars and their repair parts experienced the biggest growth or 54% in comparison with the same period of last year.
Wednesday, the 9th of June, 2004
Inflation made a high wave
In May 2004 consumer prices in Latvia increased by 6.2% in comparison with the same month of 2003 and by 1.3% in comparison with April 2004. Economists explain it with the "factor of May 1" and forecast that in the second half of the year the inflation will not be so sharp.
Tuesday, the 8th of June, 2004
Latvian business stretches out to Byelorussia
Latvian businessmen are becoming more interested in development of their business in Byelorussia. Latvian investments into this country increased more than three times in 2003. There are six Free Economic Zones in Byelorussia. They are especially attractive for the investors because of the liberal conditions for business. In order to promote business cooperation between Latvia and Byelorussia exhibition of Byelorussian goods Belarus Expo 2004 will take place in Riga in November.
Monday, the 7th of June, 2004
Latvia: the forecast is favourable
According to the forecast of PricewaterhouseCoopers, Latvian economy could grow by 6.2% in 2004. It is much more than the expected average growth in EU countries. In 2003 Latvian economy grew by 7.4%. It is expected that inflation could increase and reach 5% in the first half of the year because of the sharp growth of prices for medicine and import goods. It could decrease in 2005.
Friday, the 4th of June, 2004
GDP grows by 8.8%
According to the data of Central Statistical Bureau, in the first quarter of 2004 Latvian GDP grew by 8.8% in comparison with the same period of 2003. President of the Bank of Latvia, Ilmars Rimsevics, noted that such a sharp growth is dangerous for the country's economy. He said that it could be a sign of the economy's overheating.
Trade "scissors" grow
In January-April 2004 Latvian import exceeded export by 82.4%. In the first quarter of 2003 this index was 71.5%. In general the amount of export grew by 23.7% in comparison with January-April 2003 and its value was LVL 633.8 million. The amount of import grew by 31.5% and reached LVL 1.156,2 million Wood takes the largest place in export structure (35.1%). The next most exported products were metal (11.8%) and textiles (11.6%).
Baltic Weekly MonitorA