bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Ceturtdiena 17.08.2017 | Name days: Oļegs, Vineta
LatviaLatvia

Economic Diary of Latvia. Exports grow carefully

FaceBook
Twitter
Draugiem
print
(+1 rating, 1 votes)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

Latvian export data in May show a promising trend, but it is not clear if the pace of growth will last later in the year 2016. Likewise, there is no certainty about changes in the management style of the State Revenue Service, which continues the search for a new Director General.

Data of the Central Statistical Bureau show that in May, Latvian exporters shipped goods worth a total of 841 331 million euros, which is up 0.9% from April and up 4.4% from May 2015. The foreign trade balance improved, as exports in the total foreign trade value increased up to 45.6 % (in April 2016 – 45.5%).

Main changes in exports in May compared to April, as estimated by the CSB:

– exports of basic metals and articles thereof increased by EUR 21.9 million, or 32.2 %,

– exports of vehicles and associated transport equipment grew by EUR 14.4 million, or 34.2 %,

– exports of products of the chemical and allied industries increased by EUR 8.3 million, or 12.5 %,

– exports of machinery and mechanical appliances; electrical equipment decreased by EUR 10.8 million, or 7.7 %.

In May, the CSB estimated that the main export partners in trade with the EU countries were Lithuania (17.8 % of total exports), Estonia (12.8 %), Germany and the United Kingdom (6.8 % each), whereas the main import partners were Lithuania (17.3 % of total imports), Germany (11.2 %), Poland (10.3 %) and Estonia (7.9 %).

Search for adequately-qualified head of State Revenu Service continues

Since the former Director General of the State Revenue Service Ināra Pētersone left the body in June following a series of corruption scandals in it, an adequately-qualified successor has not been found. This week, Latvian Minister of Finance Dana Reizniece-Ozola announced plans to look for the next head of the State Revenue Service among the top civil servants of the country after the first try to select a specialist for the post ended without a result.

Rail Baltica skids in northern Vidzeme

Representaives of the Salacgrīva novads Council, Ministry of Transport and the Environmental Protection and Regional Development Ministry failed to find a compromise at a meeting this week on the best location for the line of Rail Baltica railway in the territory of Salacgīva novads.

The local government suggested opting for the variant C5, which crosses a protected Natura 2000 environmental territory, claiming that the project would cause minimal harm to the protected area.

Ministry representatives, however, plan to offer variant B2-2 for government approval, but the railway in this area would cover a number of farming lands.


Leave a reply

American helicopters to perform low-altitude flights within Latvia’s airspace

U.S. Air Force Brigade’s Task Force Phoenix helicopters, which are stationed in Latvia as part of Atlantic Resolve operation, will be performing low-altitude flights from 16:00 to 18:00 from Lielvarde to Dobele on Friday, 18 August.

Healthcare Ministry’s state secretary Karlis Ketners may be replaced

Latvian Healthcare Ministry may replace its state secretary Karlis Ketners. It is possible he will be transferred to work at Finance Ministry, as reported by LTV.

Suspects in Europe's insecticide egg scandal before Dutch court

In the Netherlands, two men have been in court in relation to the scandal of eggs containing banned insecticide that has caused an EU-wide health scare and cost millions of euros of damages.

Indian national with fake documents apprehended on Latvian border

An Indian citizen travelling from Moscow on a bus was caught at Terehovo border control point in Latvia for presenting officers a fake EU family member’s resident card. No criminal process was launched. The person returned to the country he was travelling from.

Latvijas dzelzceļš will not have to pay dividends from last year’s profits

The government decided on Wednesday, 16 August, that Latvijas dzelzceļš will not have to pay dividends from last year’s profits, which were EUR 880,998.

Latvian citizenship provided to 103 people

The Cabinet of Ministers has issued an order to provide Latvian citizenship to 103 people through naturalization.

Estonian Inbank's profits reach EUR 5.7 million in six months

Estonian financial services' provided Inbank made a profit of 5.7 million euros in the first half of 2017, which is a 429.4% increase compared to the respective period in 2016.

Agriculture Ministry invites residents to sign up for measures to support fisheries

From 21 August onward, Rural Support Service plans to start accepting applications for projects to receive support from European Maritime and Fisheries Fund’s action plan for development of fisheries in 2014-2020 as part of projects Innovation, Productive Investments in Aquaculture and Fishing and Aquaculture project processing.

Estonia seeks to improve reputation of state as employer

As the Estonian Ministry of Finance wishes to boost the reputation and brand of the Baltic country's public sector, it has announced a procurement tender aimed at preparing an action plan for reaching these goals.

Warning: there may be short-term problems with Swedbank internet banking functionality

Because of Swedbank’s planned IT modernization work scheduled for the night to Thursday, 17 August, there may be short term problems with payment card and internet banking functionality, the bank warns.

Aseradens: neither Usakovs nor Lembergs should be allowed to become prime minister

If he became chairman of Unity, Economy Minister Arvils Aseradens would mobilize democratic forces to prevent the possibility of either Aivars Lembergs or Nils Usakovs becoming prime ministers, Aseradens said in an interview to 900 seconds programme of LNT.

Caksa believes increasing wages for doctors would improve politicians’ credibility

The planned wage increase in healthcare could be the first step towards improving politicians’ credibility, says Healthcare Minister Anda Caksa.

Bill Gates donates USD 4.6 billion, reduces shares in Microsoft

The co-founder of the U.S. computer software firm Microsoft, Bill Gates, has allocated to charity 4.6 billion U.S. dollars (3.9 billion euros), which is the philanthropist's highest donation since the year 2000.

LOSP proposes using electronic packing slip system to reduce fraud

An electronic packing slip system for goods would be invaluable for agricultural goods, because it would help push out and reduce VAT fraud, says Latvian Agricultural Organisation Cooperation Council.

Latvia and Russia agree on exchange of additional 3,000 universal permits for cargoes

Latvia and Russia will exchange 7,000 universal permits for international cargo transports in 2017. This will be the largest universal permit volume in the past 15 years, as reported by Road Directorate.

Sierra Leone hit by tragic mudslide

A tragic mudslide has taken place in Sierra Leone, where flooding in the capital Freetown caused a mudslide, in which nearly 400 people have been have died.

Talks with potential KVV Liepājas metalurgs buyers to conclude in August

Talks with potential buyers of the insolvent KVV Liepājas metalurgs will conclude at the end of August, says representative of the company’s insolvency administrator Dzintars Hmielevskis.

Estonian e-Residency programme in deal with Paymentwall

International payments facilitator Paymentwall in collaboration with the Estonian programme of e-Residency program started this week Passport, a new service, with which businesspeople around the world will have the opportunity to found an EU company and access payment and other supporting services via internet.

Prosecutor: in parallel to Oligarch case, KNAB also worked on other cases

In parallel to the investigation of the so-called oligarch case, Corruption Prevention and Combating Bureau also continued working on other cases, said chief prosecutor Modris Adlers.

62.2% of Latvia’s population was employed in Q2 2017

Since Q2 2016, the employment rate in Latvia has increased by 0.8 percentage points. In Q2 2017, Latvian employment rate (62.6 %) was the highest recorded since Q2 2008 (63.1 %).

LIZDA: many uncertainties about education process appear just prior to the school year

Two weeks prior to the beginning of the new school year there are many uncertainties about the education process and teachers’ wages, said Latvian Education and Science Workers' Union chairperson Inga Vanaga in an interview to 900 seconds programme of LNT.

Several candidates to compete for the post of chairman of Unity

Economy Minister Arvils Aseradens, deputy chairman of Unity Edvards Smiltens and Riga City Council deputy Vilnis Kirsis intend to compete with one another for the post of head of Unity, as confirmed by the party’s representative Elina Bivina.

City of Tallinn urged to quit paying PBK TV 500,000 euros

Tallinn city government should allocate the 500 000 currently spent per year in buying television programmes in the Russian-language TV channel PBK to the Estonian state Russian-language TV channel, ETV+.

Latvia’s wealthiest mayors – Lembergs, Sesks and Pozarnovs

Latvia’s wealthiest mayors in 2016 were Ventspils Mayor Aivars Lembergs, who remains suspended from his post due to multiple criminal processes against him, Liepaja’s Mayor Uldis Sesks and the new head of Baldone County Council Andrejs Pozarnovs, according to information from LETA.

DNB says it has no plans to change ATM system for its clients

Commission for money withdrawal from DNB Bank’s ATMs has been introduced by Swedbank and only for its own clients, DNB Bank’s representatives say.