Friday, the 16th of September, 2005
Italians to conquer Latvia
Italian businessmen are going to expand the cooperation with the Latvian colleagues. As of now, in the list of the most important Latvias trade partners Italy is only on 12th place. This is why in 2005 Italians decided to promote their goods on the Latvian market. For example, during the Italian Festival in May-June 2005, more than 150 Italian companies presented their goods. Recently the delegation of Italian businessmen, headed by the vice-Minister of Industry, Adolfo Urso, visited Latvia in order to examine the perspectives for the further development of economic cooperation.
Thursday, the 15th of September, 2005
Export grows faster
In the first seven months of 2005, value of exports was EUR 2.28 billion, by 35.1 per cent more than in respective period last year. The value of imports amounted to EUR 3.57 billon, an increase by 23.7 per cent. The most rapid growth of exports was in food products sector, alcoholic and non-alcoholic drinks and tobacco. The increase was 52.9 per cent compared to the same period a year ago. Growth of export in mechanisms and mechanical equipment sector was also quite significant, 50.3 per cent. The largest growth in import was for mineral products, 75.4 per cent. The import of food products, alcoholic and non-alcoholic drinks and tobacco increased by 26.3 per cent compared to the same period in 2004.
Wednesday, the 14th of September, 2005
Business is more convenient at neighbours
According to the research compiled by the World Bank, Latvia ranks in 26th place in a top of business environment of 155 countries of the world. Lithuania ranks in 15th place and Estonia in - 16th place. Latvia gained pluses in implementing the reforms, decreasing corporate income tax and time period for viewing cases at courts. One of the negative things mentioned was the long time needed for deals with real estate. The authors of the research stated that countries of the top 30 are the ones that are considered really favourable for business.
Tuesday, the 13th of September, 2005
One third of residents earn less than 100 lats
According to the Central Statistical Bureau Color , in the second quarter of this year, 10.7 per cent of working residents of Latvia had a net salary of less than EUR 104 per month and 23.5 per cent had a salary between EUR 104 and EUR 142. 21.9 per cent had a salary of EUR 142-214 and 16.7 per cent earned EUR 214-285. 11.5 per cent received EUR 285-428 per month. 5.6 per cent earned EUR 428-714. Only 1.9 per cent had a salary of EUR 714-1,428 and 0.4 per cent earned more than EUR 1,428. 5.3 per cent refused to answer how much they earn.
Monday, the 12th of September, 2005
Latvia goes down in rating of economic freedom
According to latest ratings of economic freedom compiled by Fraser Institute, Latvia and Lithuania rank from 44th to 49th place and Estonia ranks from 9th to 12th place. Hong Kong takes the first place in this rating. Latvia received 6.8 points from 10. Thus it has gone down by eight places and received 0.2 points lower rating than in 2002. In 2002, Latvia was in 36th place.
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