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Friday, 19.09.2014, 20:51
Compared to July, producer prices in industry in August 2014 have not changed, according to the data of Central Statistical Bureau of Latvia. Producer prices of products sold on the domestic market rose by 0.2%, but prices of exported products declined by 0.2%; of which prices in exports to euro area countries decreased by 0.5%, but to non-euro area countries – did not change.
Keyword tags: Analytics, Industry, Latvia, Markets and Companies
Industrial production in Latvia in July 2014, as compared to the respective period in 2013, decreased by 1.5%, which was the sixth largest decline among all European Union (EU) member states, the EU's statistical office Eurostat said on Friday, informs LETA.
Lithuania, often nicknamed the Land of Amber, for the first time in the last 10 years might launch industrial mining of amber due to disrupted amber import from the Kaliningrad Oblast (Russia), informs LETA/ELTA.
Latest data compiled by the Central Statistical Bureau of Latvia show that compared to June manufacturing turnover in July 2014 (1) according to seasonally adjusted data (at current prices), grew by 0.7%, of which by 1.9% in export (increase in Eurozone of 5.1% and drop in Non-eurozone of 5.1%).
Lithuania's industrialists approve the decision to increase the minimum monthly salary by LTL 35 (EUR 10) and say that consistent increase of the minimum salary will not have much influence on industrial costs, reports LETA/ELTA.
Producer prices in Latvia increased by 0.4% in July 2014 from June, which was the third highest increase among the European Union member states for which data are available. The highest month-on-month increases in producer prices were recorded in Estonia – 1.7%, and Cyprus – 1.1% reports LETA, referring to the EU statistical office Eurostat.
President of Lithuanian Confederation of Industrialists (LPK) Robertas Dargis says that, taking into account Russian sanctions, the Government should focus on improving business conditions and competitiveness in Lithuania. Meanwhile, business is capable of finding alternative markets itself, reports LETA/ELTA.