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 Observer Latvija SIA

WEEK 33rd 2004

Friday, the 6th of August, 2004

AirBaltic doubled the number of passengers
In July, Latvian company airBaltic transported the biggest number of passengers this year, 60,441 persons. It is by 121% more than in the same period of 2003. In total in January-July 2004 the number of transported passengers grew by 67% and constituted 296,136 people. Such an index was achieved due to the enlargement of roots and introducing the system of one-way tickets for lower price. In August and September, the company plans to open seven new roots, from Riga to Manchester and Cologne, as well as from Vilnius to Helsinki, Oslo, Warsaw, Vienna and Tallinn. In July airBaltic made 1,411 flights, which is by 89% more than in July 2003. In total in January-July 2004 the company made 8,341 flights (+51%).
Dienas Bizness

The first one is the producer of windows
Latvian company Maiga, which produces windows, was the first one to apply for the finances from EU funds in order to implement its project. According to its director, Andrejs Buhbinders, the company plans to modernize its manufacture and receive environmental certificate ISO. If the project is evaluated positively, its implementation could begin in October 2004.
Dienas Bizness

Monday, the 9th of August, 2004

More economically active enterprises
In the beginning of June 2004 there were 44,630 economically active enterprises, according to the data of the Central Statistical Bureau. It is by 0.2% more than in May 2004. Approximately 41% of the companies are engaged in retail or wholesale trade, repair of cars and furnishings. 16.8% of them work in real estate sphere, and 12.7% of the enterprises in industry.

Tuesday, the 10th of August, 2004

New record of the growth of prices
Instead of the expected deflation in July 2004 Latvia experienced the highest inflation since 1997, which was 6.7% in comparison with July 2003. The Latvian Bank admits that bad harvest of vegetables and fruits influenced the inflation level. The expert from Unibanka, Andris Vilks, said that this index is extremely high. He thinks that the year’s inflation could exceed 5%. According to him, there is a probability that deflation would take place in August. In comparison with June 2004 the prices increased by 0.2%.

Industry on raise
In June 2004, industrial production output increased by 6% compared to the same month of 2003. Several fields experienced very high growth, for example, in chemical industry it was 49% due to the increase in the production of pharmaceutical products, cosmetics and colours. In comparison with May 2004 industrial production output grew by 2%.

Thursday, the 12th of August, 2004

273.03 million euros of direct investments
In the first half of 2004, Latvia received EUR 273.03 million of direct investments, which is by EUR 75.3 million or 38.1% more than in the same period of 2003. Only in June Latvia had EUR 45.45 million of direct investments. However, the biggest index during the first six months of 2004 was achieved in April, EUR 103.03 million.

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