International Internet Magazine. Baltic States news & analytics
Friday, 01.07.2016, 01:59
Calendar adjusted data (at constant prices) compiled by the Central Statistical Bureau (CSB) show that, compared to May 2015, total retail trade turnover in May 2016 rose by 3.4%. Turnover of retail trade in food products increased by 2.1%, whereas the turnover of retail trade in non-food products grew by 3.9%.
Keyword tags: Analytics, Good for Business, Latvia, Markets and Companies, Retail
In 2012, the average forest regeneration costs, depending on the forest land quality group1, varied between 620 and 687 euros per hectare, according to the data of the Central Statistical Bureau (CSB).
According to Statistics Estonia, in May 2016 compared to May 2015, the turnover of retail trade enterprises increased 8% at constant prices. While in April the turnover increased 6% compared to the same month of the previous year, in May the turnover growth accelerated further.
Digital issues are now firmly on the global political agenda, e.g. at the G-7 ICT meeting in Japan in April 2016 and recent OECD meeting as well as in the G-20 formation. These are clear signs of digital/ICT socio-economic importance and political relevance: the ICT-digital industry is becoming the fastest growing sector in the world.
At the European Council meeting on 28-29 June in Brussels, which was also attended by Prime Minister of Latvia, Maris Kucinskis, the EU leaders assessed the situation in Europe after the UK's referendum where the majority of the population expressed a desire to see the United Kingdom outside the EU, reported BC governmental press service.
The Lithuanian parliament on June 29th gave its final green light to start in 2017 a reform of the pay-as-you-go social security system that provides for introducing a ceiling on social insurance contributions and for using state budget funds to pay basic pensions, informs LETA/BNS.
Data of the Central Statistical Bureau (CSB) show that, compared to April, in May 2016 the level of construction costs in Latvia increased by 0.2%. Labour remuneration of workers went up by 1.2%, maintenance and operational costs of machinery and equipment increased by 0.1%, whereas the prices of building materials went down by 0.2%.
Because of better salaries and a friendlier tax system, 40% of Latvian residents would be prepared to move to Estonia, according to a survey carried out by the Latvian job advertisement portal cvmarket.lv, cites LETA.
Statistics Lithuania informs that, based on provisional data, in May 2016, the turnover (VAT excluded) of retail trade enterprises amounted to EUR 793.4 million at current prices; against April 2016, seasonally and calendar adjusted, it decreased by 0.1% at constant prices (seasonally and calendar unadjusted – increased by 5.1%).
Results of a study commissioned by the Estonian Ministry of Economic Affairs and Communications and carried out by Praxis show that the sale of goods and services over the internet is not very developed in Estonia and it should be nationally promoted, informs LETA/BNS.
The world's financial markets on June 27th showed signs of stabilization after last Friday's shock reaction to Britain's vote to leave the European Union, but Lithuanian analysts interviewed by BNS say that no fast recovery is in sight, adding that with no good news expected in the near future, the fall is likely to continue, informs LETA/BNS.
Commissioner Jonathan Hill responded to modern issues concerning deepening of the single market, building a Capital Markets Union, and supporting strong pensions market in Europe. At the “Pensions Europe Conference”, he claimed that the number of retired people will double in the near future and that pension funds can strengthen EU financial sector.
The United Kingdom is likely to continue to enjoy free trade with the European Union when it leaves the bloc in the future, provided that London agrees to maintain the principle of free movement of labor, a Lithuanian economist said, cites LETA/BNS.
While the decision of the United Kingdom to leave the European Union increases uncertainty, it will probably not result in a major decline of the economy, the Bank of Estonia (Eesti Pank) finds, cites LETA/BNS.
The number of indigent people in Latvia kept shrinking also in May 2016, informs LETA, according to the Welfare Ministry’s data.