International Internet Magazine. Baltic States news & analytics
Tuesday, 31.03.2015, 23:41
According to Statistics Estonia, in February 2015, the production of industrial enterprises increased by 5% compared to February of the previous year. Production increased in manufacturing and energy production, but decreased in mining.
Keyword tags: Analytics, Estonia, Good for Business, Industry, Markets and Companies
According to Statistics Estonia, in February 2015 compared to February of the previous year, the retail sales of goods of retail trade enterprises increased 8% at constant prices. In January the retail sales increased 5% compared to the same month of the previous year, while in February the growth in retail sales accelerated.
Reforms are impossible without the involvement of social partners, European Commissioner for Social Dialogue Valdis Dombrovskis (Unity) said during the forum of social partners "Role of social dialogue in ensuring the economic growth and qualitative work place" in Riga today, reports LETA.
Fitch Ratings has affirmed Lithuania's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'A-'. The outlooks are stable. The issue ratings on Lithuania's senior unsecured foreign and local currency bonds have also been affirmed at 'A-', writes LETA/ELTA.
With declining export and weakening economic growth, household consumption is becoming an ever increasing factor of economic growth. Having reached its peak ever since late 2007, consumer confidence provides hope that the negative influence of declining export to the Commonwealth of Independent States (CIS) may be at least partially counterbalanced by growing consumption. On the other hand, it seams that Lithuanians will tend to save more this year, says Chief Economist of Swedbank, Vaiva Seckute, cites LETA/ELTA.
Address by Latvian Prime Minister Laimdota Straujuma at the Social Partners’ Forum "The Role of Social Dialogue in Ensuring Economic Growth and High Quality Jobs”.
The Economic Sentiment Indicator (ESI) in the euro area increased from 102.3 points in February to 103.9 points in March 2015, the European Commission announced on Monday, cites LETA.
The Estonian Reform Party, the Social Democratic Party (SDP) and Pro Patria and Res Publica Union (IRL) have reached an agreement at the government coalition talks on core issues and o distribution of ministerial portfolios, as well as on the fact that Riigikogu speaker's position will go to SDP and first deputy speaker's post to IRL, LETA/Public Broadcasting reports.
Statistics Lithuania informs that in February 2015, compared to January, construction input prices increased by 0.2%. The change was mainly influenced by a 0.9 increase in wages and salaries.
Central Statistical Bureau in Latvia show that compared to January, the total retail trade turnover in February 2015 rose by 1.2%, according to seasonally adjusted data at constant prices.
In 2014, average hourly labor costs in Latvia were estimated to be EUR 6.6, which is the fourth lowest indicator in the European Union (EU), according to the latest data published by Eurostat. Lithuania had the third lowest indicator and Estonia – 10th, writes LETA.
Reducing the number of residents who smoke and use alcohol or drugs to one percent of the population is possible, however, it requires educating people at a very early age, as well as implementing radical amendments to the law, believes Astrida Stirna, the head of the Latvian Association of Narcologists.
In its annual threat assessment for the year 2014, Lithuania's State Security Department (VSD) stresses that the country's security environment was most of all influenced by increasingly aggressive activities of Russian and Belarusian intelligence agencies, which were mainly triggered by Vilnius' principled stance in respect of the conflict in Ukraine, reports LETA/ELTA.
Statistics Lithuania informs that, based on provisional data, in February 2015, the turnover (VAT excluded) of retail trade enterprises* amounted to EUR 601.4 million; against January, it decreased by 4.3% at constant prices (seasonally and working day adjusted – grew by 1%).
Based on trade value, Russia, Latvia, and Poland were Lithuania's top three partners in exports of goods in 2014, Eurostat, the statistical office of the European Union, said. Last year, Russia accounted for 21% of all Lithuanian exports, Latvia – 9%, and Poland – 8%, cites LETA/ELTA.