International Internet Magazine. Baltic States news & analyticsWednesday, 10.03.2010, 19:14
Foreign trade deficit of Lithuania grew 2.8 times in January 2010
10.03.2010Statistics Lithuania reports that, based on non-final data obtained from customs declarations and Intrastat reporting data, exports in January 2010 amounted to LTL 3.1 billion, while imports – LTL 3.5 billion. Foreign trade deficit of Lithuania amounted to LTL 0.4 billion, which is 2.8 times more than in January 2009. Data on trade with EU countries were adjusted after VAT returns data had been received.
Keyword tags: Analytics, Baltic Export, Foreign trade , Lithuania
Olainfarm prepares to open an office in Bangkok
10.03.2010The company Olainfarm is planning to open an office in Bangkok in 2010, according to an announcement for the NASDAQ OMX RIGA stock exchange.
Vilniaus Degtine sales decreased by 23.3% in 2009
10.03.2010Lithuania-based producer of strong drinks Vilniaus Degtine registered revenue in amount of 53.199 million litas in 2009, which is 23.3% less than in corresponding period of the previous year, Vilniaus Degtine reported to NASDAQ OMX Vilnius.
Lithuania to attract textile industry specialists on "Baltic Textile + Leather" fair
09.03.2010Lithuania organizes a big event intended for attracting textile and fashion industry professionals from various countries. The specialists and start-ups keen to explore business opportunities in the Baltic States might want to consider visiting the region's biggest apparel trade show "Baltic Textile plus Leather" on October 14-16 2010, LETA/Just-style reports.
If state taxation policy remains unchanged, Grandeg could move production outside Latvia
08.03.2010The Latvian biomass heating system manufacturer Grandeg will either expand its operations in Latvia, or transfer to another country altogether, depending on the course chosen for the country's taxation policy, the business portal Nozare.lv was told by Grandeg’s owner, Andris Lubins.
Baltic Data Center’s revenue in 2009 was one-tenth higher as a result of the export
The year 2009 revenue of Baltic Data Center, a leader in the management of data centres and information systems in the Baltic States, was LTL 39.7 million, an increase by 9% over the revenue of LTL 36.4 million in 2008. The revenue growth of the company belonging to TEO LT Group resulted from the development of services and their successful export, informed BC Antanas Bubnelis, Press Officer of TEO LT AB.
Latvenergo: concern about Latvia's dependence on Russia's energy supplies is unfounded
The concern about Latvia's dependence on energy supplied from Russia are unfounded, as the joint-stock power utility Latvenergo President Karlis Mikelsons emphasizes in an interview with the magazine Kapitals.
Bank of Estonia: effects of the economic crisis have not yet passed
Bank of Estonia said in its fresh economic policy statement on Wednesday that recovery of the state’s economy is continuing but the effects of the crisis are not over yet and there is still a danger of relapses. Bank of Estonia said that the economic upturn in the fourth quarter of 2009 was mostly driven by the improving exporting sector.
Export doors open for Madara Cosmetics after participating in "Vivaness 2010"
Madara Cosmetics (Madara) is looking at serious export opportunities in Greece, Slovenia, Hungary, Romania and Norway after successful participation at the major ecocosmetics fair "Vivaness 2010" in Nuremberg. Also, new agreements were reached with stores in existing markets.
Premia Foods turns over 830 million kroons in 9 months
Lithuania-based producer and distributor of ice-cream and frozen food products Premia Foods in nine months had non-audited turnover in amount of 830 million kroons, which is less than 923 million kroons registered in relevant period of 2008, BBN reports. Pre-tax profit of the company was 86 million kroons (5.5 million euros), the company's CEO Kuldar Leis informed. In 2008, pre-tax profit of Premia Foods reached 84.7 million kroons.
Viisnurk posted a 1.925 mln kroons profit in Q4
Estonian furniture and construction materials producer Viisnurk earned a net profit of 1.925 mln kroons in the fourth quarter of 2009 as compared to the 3.874 mln kroons loss of the fourth quarter of 2008, LETA/Äripäev.ee reports.
In 2009 exports in Estonia decreased by 24% and imports – by 33%
According to Statistics Estonia, in 2009 the exports at current prices decreased by 24% and imports by 33% compared to 2008. Exports to Finland and Sweden decreased most by the trade value. In the last months of the year the decline in the trade slowed down.
Estonian fish industries to build 3 big refrigerating plants
Associations of Estonian fish industries are planning to build three large refrigerating plants on the Estonian coats to enable to freeze fish quickly after it is caught and thus it will have a higher quality and can be exported for a higher price, LETA/National Broadcasting reports.
Textile producer SRC Brasa acquires new market in Sweden
Textile producer SRC Brasa has received new orders from the Swedish market, where the company is seeking to specialize in military-style and outdoor clothing and accessories; at present 5% of its export volume goes to Sweden, but in the future this will be increased, SRC Brasa Director Olegs Krauja told the business portal Nozare.lv.
Harju Elekter posted a profit in 2009
Estonian electrical fittings company Harju Elekter announced on Thursday that regardless of the present economic situation, the financial results of the group were as expected and the group was profitable in 2009. The consolidated sales revenue of the group in the fourth quarter was 158.4 million kroons (10.1 million euros), which was 22.6% less than the result of the comparable quarter. During the reporting period the group sold its products and services 27.4% less, totally 632.7 million kroons (40.4 million euros).
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