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Latvia Business News: Archive 2003-2006

WEEK 37.2006

Friday, 15th of September 2006

Import is up, export - down
The research of the Central Statistical Bureau of Latvia shows that in July the volume of export in Latvia amounted to EUR 368 million, which is 6.6 per cent more than in the corresponding period of the previous year; the volume of import amounted to EUR 717 million or 28.1 per cent more. In the first half of 2006 the turnover of Latvia’s external trade amounted to EUR 7234.2 million and it increased by 22.1 per cent, or EUR 1307 million, compared to the same period of the previous year. In July 2006, compared to June 2006, the unit value of the exported goods decreased by 9.3 per cent, but the unit value of imported goods increased by 2.1 per cent.
Dienas Bizness

The sharpest increase in salaries is expected in Latvia
According to the company Mercer Human Resource Consulting, next year the sharpest increase in salaries among 60 researched countries will be in Latvia. The company forecasts that in average salaries will increase by 1.9 per cent, whereas in Latvia – 6.8 per cent.
Dienas Bizness

Wednesday, 13th of September 2006

All come out of the shadow!
On September 12, the Latvian National Trilateral Cooperation Council rejected the reduction of income tax level from 2007. At the same time the Council approved the plans for raising the minimum monthly salary from the current EUR 128 to EUR 170 next year. In order to execute the resolution, private companies will have to legalize about EUR 128 million. The Council also decided to increase the untaxed minimum from the current EUR 46 to EUR 71.5. The relief for a taxpayer for the maintenance of dependants will be EUR 50 instead of the current EUR 31.5.
Bizness & Baltija

Tuesday, 12th of September 2006

Latvia is in the middle regarding employment
According to the data from the Eurostat, the Statistical Office of the European Union, in Latvia the employment index reached 63.3 per cent in 2006. In Estonia it is 64.4 per cent, but in Lithuania it is 62.6 per cent, which leaves Latvia’s employment index is in the middle of the Baltic States.
Dienas Bizness

Monday, 11th of September 2006

Finally, monthly deflation is registered
In Latvia deflation was registered in August, when consumer price levels decreased by 0.2 per cent compared to July. According to the data from the Central Statistic Bureau, prices for goods decreased by 0.5 per cent, but prices for services went up by 0.5 per cent in August 2006 compared to July 2006. The Ministry of Economics of Latvia forecasts that the inflation rate will be 6.5 per cent this year.
Dienas Bizness

Slower development has been forecasted for later
The Latvian Ministry of Economics forecasts that GDP growth for this year will be 11 per cent, but from next year it is expected that the growth will be 5.5 per cent for the slow version, but 8 per cent for the most dynamic GDP growth. Last year’s report published by the Ministry expected GDP growth at 5.5 per cent and 8 per cent for 2006, as well. The same GDP growth was expected for 2005. Margarita Dunska from the Banking Institution of Higher Education said that because Latvia has more or less stable economy for the past 8 years it is very hard to forecast.
Dienas Bizness

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