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Monday 01.05.2017 | Name days: Ziedonis
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Economic Diary of Latvia. Exports grow carefully

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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.


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