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Study: Latvia's exports to the U.S. could increase 15% after TTIP is signed

BC, Riga, 09.02.2016.Print version
After the Transatlantic Trade and Investment Partnership (TTIP) comes into force, Latvia's exports to the United States could increase 15%, informs LETA, according to a study by AmCham EU.

According to the study, Latvia does not have a very strong economic relationship with the United States. Nonetheless, TTIP would contribute to additional income, higher wages for both low- and high-skilled workers, more investments, and lower prices.

 

Thanks to the TTIP, Latvia's gross domestic product is expected to increase permanently by 0.4%, exports to the United States are expected to increase by 15% and consumer prices will go down by 0.2%.

 

Exports are poised to increase most in the processed foods sector – by EUR 35 million. Mainly the manufactures sector, but also the machinery, water and air transport sectors are expected to grow most, but motor vehicle production may decline.

 

For Latvians, the prices would be lower for motor vehicles (down 2.2%) and transport equipment (0.5%).

 






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