International Internet Magazine. Baltic States news & analytics
Sunday, 25.09.2016, 16:58
According to Statistics Estonia, in August 2016, the producer price index of industrial output changed by 0.2% compared to July 2016 and by -1.3% compared to August 2015.
Keyword tags: Analytics, Estonia, Export, Industry, Statistics
Lithuania recorded a current account deficit of 417.3 mln euros for the first half of this year, which accounted for 2.3 % of GDP for the period, the central bank said.
The Sillamae, Estonia based rare-earth metals producer Molycorp Silmet AS, a holding of Neo Performance Materials, has been renamed NPM Silmet AS, informs LETA/BNS.
According to the data of the Central Statistical Bureau, in July 2016, the Latvian external goods trade turnover dropped by 2% month-on-month, with goods export and import dropping by 3.0% and 1.1% respectively. Year-on-year, the export and import value of goods dropped by7.4% and11.9% respectively.
According to Statistics Estonia, in July 2016, the exports of goods decreased by 6% and imports by 4% compared to July of the previous year. The fall in the exports and imports of goods was influenced the most by the trade with European Union countries.
Provisional data of the Central Statistical Bureau (CSB) show that, as compared to June, in July 2016 Latvian foreign trade turnover at current prices decreased by 2.0%, as the exports value of goods dropped by 3.0% and the imports value fell by 1.1%. In July, Latvia exported goods in the amount of EUR 790.6 mln, and imported goods in the amount of EUR 973.5 mln. The foreign trade balance worsened, as exports in the total foreign trade value dropped to 44.8% (in June 2016 – 45.3%).
In the second quarter of 2016, the current account was at a deficit of 37.2 mln euro (0.6% of gross domestic product (GDP)). This spelled an end to the situation formed in the previous two quarters where the account posted a surplus (1.1% of GDP in the fourth quarter of 2015 and 2.8% in the first quarter of 2016). The forming of the deficit resulted from dividends paid to foreign investors in Latvia. The goods account annual dynamic is still characterized by dropping imports resulting both from a drop in the prices of raw materials and a decrease in capital goods.