International Internet Magazine. Baltic States news & analytics
Tuesday, 13.10.2015, 11:55
Improving business attractiveness is an important component of economic advancement of each country. It is a major contributing factor, which attracts foreign investments into the national economy, and in turn, if acquires great significance in the creation of high-tech industries, saturation of domestic market with high-quality, marketable products, and broadening the product mix of national exports.
Keyword tags: Analytics, Baltic States – CIS, Economics, Investments, Markets and Companies, Transport
The number of registered jobless started increasing again in September in Estonia after falling since spring and the number of jobless reached 25,842 people at the end of the month, which formed 4.1% of the working-age population, the Unemployment Insurance Fund reported LETA.
Provisional data of the Central Statistical Bureau (CSB) show that in August 2015 as compared to July foreign trade turnover at current prices fell by 7.0%, of which exports value of goods reduced by 7.8% and imports value of goods – by 6.4%.
The Commission announced establishing the EU’s capital market union (CMU) by 2019. CMU’s idea is to help businesses grasping more diverse sources of capital within the EU. It would also make markets work more efficiently and offer investors and savers additional opportunities to use their money for enhanced growth while creating employment.
Statistics Lithuania informs that, based on non-final data obtained from customs declarations, Intrastat reporting and VAT returns data, exports in August 2015 amounted to EUR 1.847 billion, imports – EUR 1.982 billion. Exports of goods of Lithuanian origin amounted to EUR 1.074 billion. The foreign trade deficit of Lithuania amounted to EUR 0.135 billion.
World-leading brand valuation and strategy consultancy – Brand Finance – makes analysis on nation-branding to make decisions in maximizing brand and business value and bridge the gap between marketing and finance. The three Baltic States’ brands (out of 100 countries) in 2015 are the following: Lithuania – 63, Latvia –75 and Estonia – 85.
The European Commission intends through public consultations identify key measures to re-launch Common Consolidated Corporate Tax Base (CCCTB). The CCCTB main focus is on facilitating EU and third-country businesses, primarily those active in more than one EU state. It would reduce administrative burden and compliance costs for business; besides, the CCCTB would function as an effective tool against aggressive tax planning.
Statistics Lithuania informs that in September 2015, average annual inflation calculated based on the harmonised index of consumer prices (HICP), which is methodologically harmonised with those of other EU member states, was negative and stood at minus 0.5%.
Statistics Lithuania informs that, after the revision of gross value added and employment indicators, labour productivity estimates were recalculated. In 2014, the value added per hour actually worked in the whole economy amounted to, on average, EUR 13.62 at current prices, which is by EUR 0.31 more than in 2013. The gross value added per person employed amounted to EUR 24 975.
Latest data compiled by the Central Statistical Bureau show that compared to July manufacturing turnover (1) in August 2015 according to seasonally adjusted data (at current prices) declined by 1.9%.
According to Statistics Estonia, in August 2015, exports of goods decreased by 6% and imports by 3% compared to August of the previous year. The decrease in exports was mostly influenced by a fall in the trade of electrical equipment, metals and products thereof, and mineral products.
According to Statistics Estonia, 394,000 tourists used the services of accommodation establishments in August 2015, which was 4% more than in August 2014. The number of both foreign and domestic tourists increased.
Statistics Lithuania informs that in September 2015, compared to August, prices for consumer goods and services increased by 0.6%. In September 2015, annual (September 2015, against September 2014) deflation stood at 1% (in September 2014, against September 2013, deflation stood at 0.1%).
An Enterprise Estonia management sphere study indicated that management of Estonian large companies is still rather male-centred, LETA/Postimees Online reports.
According to the latest data of the Central Statistical Bureau (CSB), compared to September 2014, the average consumer price level in September 2015 (1) declined by 0.5%.