Friday, the 11th of March, 2005
Air carriers and traders become locomotives
Latvian GDP growth in 2004 exceeded the most ambitious experts forecasts and reached 8.5%. For the first time in Latvias history transport, especially air transport, and communications branch became the locomotive of the countrys economy instead of trade. Due to this leader GDP increased by 2%. Experts forecast that in 2005 this index will grow by 7-7.5%. However, Latvian GDP still constitutes some 40% of the average EU level.
Biznes & Baltija
Thursday, the 10th of March 2005
Common market for chosen ones
According to an opinion poll conducted by Latvian Ministry of Economy, 37% of Latvian businessmen faced artificial trade barriers in their attempts to sell goods in the EU. Specialists admit that this proportion is quite high. Among the most wide-spread problems are additional registration or certification of goods in every EU-country, the EU rules, which make the work more difficult, and unclear points in the EU legislation. In total 190 companies of 6 branches were interrogated during the opinion poll.
Wednesday, the 9th of March 2005
Swiftest growth in prices in Latvia
In February 2005 the inflation in Latvia again was the highest in the Baltic States. In comparison with February 2004, consumer goods became by 6.9% more expensive. However, experts are not going to change their prognoses for inflation. They think that such an increase was experienced due to the rise of fuel and non-processed food products prices. For example, vegetables became by 51.6% more expensive during the year.
Tuesday, the 8th of March 2005
Retail trade grows swiftly
In January 2005, the turnover of the retail trade companies in Latvia increased by 24.1% in comparison with the same month of the previous year. This is the swiftest growth since 1999, when during the same period this index increased by 60.8%, according to the Central Statistical Bureau. On the one hand, this proves the increase in consumer spending. However, on the other hand, it shows the growth in retail trade proportion in GDP structure, which is not positive due to the goods low added value.
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