Friday, the 2nd of September, 2005
Forecast the steadiest development for the Baltic States
In the next three years Latvia will experience the swiftest GDP growth in Central and Eastern Europe, as well as the highest inflation among the new EU member-states, according to the review Nordic Outlook, prepared by SEB. The GDP growth could reach 6-7%, while the medium growth in Europe would be 5.5%. The lowest index is forecasted to Hungary, 4%. The lowest inflation could be in Czech Republic and Poland, 1.8% and 2.1% respectively.
Thursday, the 1st of September, 2005
Prices grow again
The global rise of petrol prices, caused by the hurricane Katrina, which happened in the USA, could also be felt in Latvia, destroying the dreams about reducing inflation. Many entrepreneurs and owners of transportation companies are going to raise the prices of their products. The petrol prices have already increased at least by EUR 0.05-0.07 per litre and could increase more, according to the forecast of specialists.
Wednesday, the 31st of August, 2005
57% of Latvian companies make profit
The total net turnover of Latvian companies in 2004 was EUR 242,447 million, from which the largest turnover was in trade, EUR 11,501 million, and processing industry, EUR 4,452 million. Trade sector also experienced the biggest turnover growth, by EUR 2,397 million. In 2004 nearly 57% of Latvian enterprises worked with profit, and their net gain constituted EUR 1,457 million. 43% of firms had losses, which amount to EUR 481 million.
Tuesday, the 30th of August, 2005
Export structure remains unchangeable
Latvia produces the same products, which it had been producing in the 90-ies of the 20th century, not adding to them the added value. The competitiveness remains on the same level, too, according to the data of the research by Latvian Bank Modelling of Latvian long-term competitiveness. The export structure of Latvia remains more or less the same as well. The author of the report, Gundars Davidsons, pointed out that without the appropriate industrial policy Latvian position in international competition sphere could hardly improve despite its EU membership.
Monday, the 29th of August, 2005
Life insurance market grows
According to the Latvian Insurers Association, life insurance market is growing. The volume of signed compensations grew by 68% during the year and by 82% in July, reaching EUR 13.064 million. At the same time the amount of paid compensations continues to decrease; it reduced by 12% to EUR 4.875 million.
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