International Internet Magazine. Baltic States news & analytics
Wednesday, 12.03.2014, 17:05
Provisional data of the Central Statistical Bureau show that in January 2014 compared to previous month exports value of goods at current prices reduced by 8.3%, but imports value of goods – by 6.8%. In January Latvia has exported goods in amount of738.4 mln euros (519 mln lats), but imported – 917.5 mln euros (644.8 mln lats) more.
Keyword tags: Analytics, Baltic Export, Baltic States – CIS, EU – Baltic States, Foreign trade , Latvia
According to Statistics Estonia, 169,000 tourists used the services of accommodation establishments in January 2014. Compared to January of the previous year, the number of foreign tourists increased and the number of domestic tourists decreased.
Compared to January 2013, industrial production output in Latvia decreased by 11% in January 2014 – the second largest reduction in the European Union, according to the EU's statistical office Eurostat, reports LETA.
Citadele Bank expects Latvia's gross domestic product to increase 4% to 4.5% in 2014, noting at the same time that the developments in Ukraine may undermine Latvia's growth, cites LETA.
After ambitious reforms in the EU, it has become politically and economically more stable. The necessary steps included budgetary consolidation, the new governance for the euro area, the G-20 financial regulation agenda and the banking union. Presently, it is the time to move from a reactive to a proactive approach in economic policies towards greater competitiveness.
The Nordea financial group cut its forecast for Estonia's economic growth to 2.8% in its fresh report, LETA/Public Broadcasting reports.
The International Monetary Fund (IMF) delegation, which is on an annual visit to Estonia, had a meeting on Tuesday with the Riigikogu finance committee and acknowledged Estonia's financial politics, Äripäev.ee/LETA reports.
The IMF report indicates that Lithuania's next year's transition to the euro – the litas has been pegged to the euro at a fixed rate since 2002 – will not bring about any "visible" changes, but will provide a few macroeconomic benefits to the country, writes LETA/ELTA, referring to Invest Lithuania.
According to a survey commissioned by the Bank of Lithuania and conducted by company Spinter Tyrimai, as much as 69% of the polled are in favour that the national symbol Vytis (a knight on horseback used in Lithuania's coat of arms – ELTA) would be featured on Lithuanian euro coins, writes LETA/ELTA.
Estonia's current account deficit shrank over the year 2013 as a whole from 1.8% of GDP in the previous year to 1%; the current account deficit was slightly smaller than expected, Estonia's central bank Eesti Pank said, cites LETA.
Due to external factors, SEB banka has lowered its 2014 GDP growth forecast for Latvia from 4.8% to 2.9%. The bank's 2015 GDP growth forecast for Latvia has been lowered from 4.8% to 3.4%, informs LETA.
Data compiled by the Central Statistical Bureau of Latvia indicate that, in 2013, Gross Domestic Product (GDP) at current prices comprised EUR 23.3 billion (LVL 16.4 billion), but in the 4th quarter of 2013 – EUR 6.3 billion (LVL 4.4 billion).
According to Statistics Estonia, in January 2014, exports of goods decreased by 20% and imports by 15% at current prices compared to January 2013.
Latest seasonally adjusted data (at current prices) compiled by the Central Statistical Bureau of Latvia show that, compared to December 2013, manufacturing turnover1 in January 2014 dropped by 3.2%, of which by 0.6% in domestic market and by 6.4% in export.
According to Statistics Estonia, the gross domestic product (GDP) of Estonia in 2013 increased 0.8% compared to the previous year. In the 4th quarter of 2013, the Estonian economy grew 0.3% compared to the 4th quarter of 2012.