Reval Hotels
Pietari Express
 Observer Latvija SIA

WEEK 2.2005

Friday, the 14th of January, 2005

More cargoes are transferred in ports
In 2004 Latvian ports transferred by 4.8% more cargoes than the previous year. However, the significant growth is observed only in loose goods, 23.7%. In total 57.4 million tons were transferred in 2004, most of all by Ventspils port, 27.8 million tons of cargoes. Riga’s port is on the second place with 23.9 million tons. Liepaja’s port shifted 4.47 million tons, which is by 7.9% less than in 2003. The steadiest increase in transferred cargoes was in the small ports. They shifted 1.13 million tons, by 31.5% more than the previous year.
Dienas Bizness

Thursday, the 13th of January, 2005

Latvia is the leader in GDP growth
According to Eurostat data, Latvia is the leader in GDP growth among the EU-countries. However, Latvia is behind the whole Europe according to its GDP index, and its growth only shows that the GDP in the country is very low. The economists are sure that Latvia should keep the same speed of GDP growth in order to reach the European level. On the other hand, steady GDP growth, more than 5%, brings a danger of the over-heating of the country’s economy.
Kommersant Baltic Daily

Wednesday, the 12th of January, 2005

We buy more
In 11 months of 2004 the turnover of the retail trade in Latvia grew by 12.4% in comparison with the same period of 2003. It indicates the increase in the purchasing power of Latvian inhabitants. The amount of sold textile products grew by 46%. On the other hand, pharmaceutical and medical products, as well as cosmetics, had a decrease in sales by 2%. The experts think it could be connected with the growth in their prices; for example, the medicines became by 20% more expensive.
Dienas Bizness

Tuesday, the 11th of January 2005

A storm shakes Latvian economy
The strongest storm in Latvia during the last 40 years, which happened on January 8, brought to the state losses for several million euros. Many regions have problems with electricity, gas and water supply; more than a half of all the power lines were put out of action. The lack of electricity caused problems with food and selling it in the shops: refrigerators and cash registers do not work. However, agriculture is the sphere, which experienced the most serious losses, approximately for EUR 7.14 million. Besides it, 3 million cubic metres of wood suffered because of storm. As for the cities, Ventspils, especially its port, Riga and Liepaja have the most serious losses.
Bizness & Baltija

Monday, the 10th of January 2005

Industry grows in Latvia
In November 2004 industrial production output grew by 5% in comparison with the same month of 2003. According to the data of the Central Statistical Bureau, industrial production output increased by 9.3% in the extractive industry, by 5.1% in the processing industry and by 4.5% in gas, water and electricity supply. In the food industry this index was 8.3%, in the production of chemical substances 23.9%, in the production of furniture 16.1%.
Kommersant Baltic Daily

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