International Internet Magazine. Baltic States news & analytics
Wednesday, 12.12.2018, 00:55
Lithuanian insurance market: lower prices and higher consumer protection
11.12.2018In the third quarter of 2018, prices of compulsory motor third party liability insurance scaled down, while the entire insurance market grew by 13%. Having come into force in October, significant amendments have strengthened consumer protection within the insurance market.
Keyword tags: Analytics, Banks, Financial Services, Insurance, Lithuania
Inflation has passed its peak
11.12.2018Consumer price inflation in Estonia in November was 3.4%. It hit a peak of 4.4% in October and has shown signs of coming down over several months. The rate of inflation fell primarily because crude oil prices fell on global markets, which meant that the rate of rise in prices for motor fuels came down over the month from 20% to 9%.
Negative trade balance has led to the largest quarterly current account deficit seen over the past years
11.12.2018Following a build-up of the current account surplus driven by robust expansion of exports in the first half of the year, the trade balance shifted downside sharply in the third quarter. It was the deficit of the balance of trade in goods that was at fault. The above deficit grew rapidly and reached a high since the end of 2013. Overall, the current account deficit amounted to 444.4 million euro or 5.7% of gross domestic product (GDP) in the third quarter of 2018.
Foreign trade in goods in October 2018
11.12.2018Statistics Lithuania informs that, based on non-final data obtained from customs declarations, Intrastat reporting and VAT returns data, exports in October 2018 amounted to EUR 2.71 billion, imports – EUR 3.05 billion. Exports of goods of Lithuanian origin amounted to EUR 1.65 billion. The foreign trade deficit of Lithuania amounted to EUR 0.33 billion.
European regional policy: effects for the Baltic States
11.12.2018Several EU funds assist structural reforms and progressive regional development in the Baltic States. The EU’s strategy aims at making European regions actively participating in nation growth. However, historic administrative and territorial divisions often do not cope with the modern digital societies and “smart specialization” trends. Hence, political decisions concerning regional policies have to be both optimal and progressive.
Over a year, labour costs per hour worked in Lithuania increased by 10.7%
Statistics Lithuania informs that in III quarter 2018, against the same quarter of 2017, labour costs per hour worked in industrial, construction and service enterprises (individual enterprises included), calendar adjusted, increased by 10.7%, of which in business enterprises – 10.3%.
Latvian consumer prices down 0.1% in November
The latest data of the Central Statistical Bureau (CSB) show that in November 2018, compared to November 2017, the average level of consumer prices* rose by 3.0%. Prices of both goods and services grew by 3.0%
Estonian chamber: Entrepreneurs' assessment re ratio of cash-in-hand wages has decreased
Estonian entrepreneurs' estimation of the share of cash-in-hand wages paid in their sector has decreased on year, it appears from the results of a survey conducted among the members of the Estonian Chamber of Commerce and Industry, reported LETA/BNS.
SDGs & me: Life on land
In an EU context, the Sustainable Development Goal (SDG) 15 'Life on land' focuses on progress made in improving the status of ecosystems, in decelerating land degradation and in preserving biodiversity, noted Eurostat.
Non-bank lenders in Latvia issue loans worth EUR 309.04 mln in H1
Non-bank lenders issued loans worth EUR 309.04 mln in January-June this year, which is 10.1% more than in the first half of 2017, the Consumer Rights Protection Center's representative Santa Zarane informed LETA.
European security: an urgent issue for the EU and the Baltics (part I)
The European Commission organised a media seminar on the “security research”, with a view of a deeper understanding of the complex security issues. The theme is of vital importance at present tense time for both Europeans and the Baltics’ sub-region in line with EU’s priorities of making Europe a safe place and enhancing regional security.
Bank of Lithuania survey: an extra 400 EUR would make life easier
The latest Survey of Households commissioned by the Bank of Lithuania revealed that, despite their improving financial health, a large number of families would still like to earn at least 400 EUR more to be satisfied with their living conditions in Lithuania.
First time registration of passenger cars in Latvia up 0.2% in 11 months
The first-time registration of passenger cars picked up 0.2% y-o-y in the first 11 months of this year, as 62,650 cars were registered for the first time in Latvia during that period, according to the information from the Latvian Road Traffic Safety Directorate (CSDD) reports LETA.
Estonian power co: Electricity prices rose as expected in November
The price of electricity rose in line with expectations and as a result of colder weather in November in Estonia, Finland and Latvia alike, whereas in Lithuania the price moved lower, the state-owned power generating and power distribution group Eesti Energia said on Friday.
The element of surprise has vanished, but growth is still present
Emotions of surprise stirred by the release of the flash estimate of gross domestic product growth in the third quarter of 2018 have already subsided, but the detailed third quarter data published by the Central Statistical Bureau confirm that Latvia's economy has experienced rapid growth. At the same time, however, the question concerning the sustainability of the factors underpinning this growth remains relevant.
Modern clean energy for the Baltics 
