International Internet Magazine. Baltic States news & analytics
Wednesday, 22.02.2017, 10:24
In 2016, the final electricity consumption in Lithuania totalled 10.47 kilowatt hours (or 10.47 terawatt hours, TWh). A record growth in the consumption was observed last year: residents, businesses, agriculture and transport used 4.5% more electricity compared to 2015. The growth rate in agriculture was as high as 8.4%, service sector 5.7%, residents 4.3%, and transport sector 4%. The lowest year-on-year growth rate (3.5%) was recorded in the industrial sector.
Keyword tags: Analytics, Baltic, Energy, Energy Market, EU – Baltic States, Lithuania
According to the data of the Central Statistical Bureau (CSB), the turnover value of the external trade of Latvian goods in December dropped by 2.6% month-on-month, with goods exports dropping by 8.8% and imports increasing by 11.4%. Year-on-year, the goods export and import values posted positive growth by, respectively, 7.6% and 11.4%, which should be considered a good performance.
The Estonian Institute of Economic Research (EKI) estimates that approximately EUR 8.5 mln of revenue generated by Estonians' alcohol purchases flowed into the Latvian state budget last year, writes LETA/BNS.
Heated debate about the EU’s future in the European Parliament recently showed that the EU faced big shocks if reforms were not introduced urgently. Three separate reports were debated in Strasbourg’s plenary prepared by most influential party groupings: socialist, Christian democrats and liberal democrats.
Statistics Lithuania informs that, based on the data from the Building Permits and State Construction Supervision Information System of the Republic of Lithuania (IS) Infostatyba, in IV quarter 2016, against IV quarter 2015, the number of building permits issued increased by 13.8%, of which for the construction of new residential buildings – by 27.9%.
Lithuania in the fourth quarter of 2016 registered the largest quarterly increase in construction output in the European Union, figures from the EU statistical office Eurostat showed on Friday.
The availability of financing of companies is aided by good access to bank lending, low interest rates, and profits built up earlier Companies are borrowing more than before from Estonia, and less from abroad Growth in household loans accelerated in 2016, but remained slower than growth in incomes and savings. The loan portfolio to companies and households will grow by around 5% in the years ahead, which is about the same rate as nominal GDP
Provisional data of the Central Statistical Bureau (CSB) show that 716.0 thousand hectares of land were covered with cereals in 2016 – 43.6 thousand hectares or 6.5 % more than in 2015, leading to the largest cereal cropland area observed since 1984. Harvested production of grain has diminished; half of the harvested winter wheat were produced in Zemgale
Small and medium-sized enterprises of the Baltic states are less optimistic than previously in their outlooks for the new business year and even 31% of Estonian SMEs expect turnover to fall in 2017, SEB's annual Baltic business barometer survey showed.
The annual inflation in January continued to climb rapidly – consumer prices rose by 2.9% year-on-year. Within five months, inflation, starting at zero, reached an impressive level. There is no reason to expect similarly fast inflation rise during the next few months. All this year, however, inflation will remain close to 3%.
Flying has become one of the most popular means of travel throughout the world. An internet survey carried out by SmartLynx Airlines, the leading charter carrier in Latvia and Estonia, revealed that 74% of respondents use airline services for private trips, while one in four (26%) mostly travel for business. Respondents said that price is the main criterion in purchasing airline tickets.
According to a survey on the attitudes residents have regarding the Rail Baltica high-speed rail project, 89 percent of Latvian residents support the project, which is three percentage points more than a year ago, the head of communications at SIA Eiropas Dzezlcela Linijas Rita Voronkova told LETA.
Estonia climbed from ninth to sixth place on the Heritage Foundation and Wall Street Journal (WSJ) 2017 index of economic freedom published on Wednesday writes LETA/BNS.
In 2016, 2.3 mln visitors were hosted at Latvian tourist accommodation establishments, which was 7.7% more than the year before. According to the latest data of the Central Statistical Bureau (CSB), the respective indicator has increased by 75 % from the 1.3 million hosted in 2010. As compared to 2015, the number of nights spent by visitors has increased by 7.5%. The average duration of a visitor's stay at an accommodation establishment was 1.9 nights.
RAM experts: “January Turned to Be a Record Month with Regard to the Number of Corporate Bonds Issued in the United States”
Rietumu Group specialists have prepared a review of the profitability of investment funds of Rietumu Asset Management in January. The review includes an analysis of key economic indicators, the monetary policy. It provides comprehensive information on the situation on stock markets, bond, currency and commodity markets. The review is accompanied with extensive comments from experts.