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Friday 03.04.2020 | Name days: Daira, Dairis

Round timber price decline observed in Latvia in first half-year of 2019

Compared to the 1st half of 2019, the average purchase prices both of coniferous round timber and of deciduous trees fell in the 2nd half of 2019. The largest drop was recorded in the prices of black alder sawlogs in diameter 18–24 cm, while the smallest decline was observed in the prices of asp sawlogs in diameter 18–24 cm.

Number of dairy cows in Latvia down 4.2% last year; number of other cows up 9.2%

In 2019 number of dairy cows dropped by 6.1 thousand or 4.2 %, but number of non-dairy cows rose by 4.7 thousand or 9.2 %.

Industrial producer prices in Latvia down 1.9% in February

Compared to January, in February 2020 the level of producer prices in Latvian industry fell by 0.3 %. Prices of products sold on the domestic market reduced by 0.2 %, but prices of exported products – by 0.4 %.

Average number of vacant jobs in Latvia up 28.1% in 2019

In 2019 there were 29.1 thousand job vacancies in Latvia, which is 6.4 thousand vacancies or 28.1 % more than in 2018. In public sector there were 8.3 thousand and in private sector 20.9 thousand job vacancies.

Labour costs in Latvia per hour increase 7.7%

Compared to Q4 2018, hourly labour costs rose by 7.7 % or 70 cents, reaching EUR 9.76 in Q4 2019. Seasonally adjusted data comprised 7.5 %.

28.6% of Latvian households have difficulty making ends meet

In 2019 the share of households who paid for usual necessary expenses with difficulty or great difficulty constituted 28.6 %, which is 7.1 percentage points less than in 2018.

Latvia’s exports increase 4.2% in January 2020

In January 2020 the foreign trade turnover of Latvia amounted to EUR 2.24 billion, which at current prices was 4.2 % larger than a year ago, of which the exports value of goods was 7.2 % higher, but imports value of goods – 1.5 % higher.

Latvia’s inflation in February reportedly 2.3%

Compared to February 2019, the average level of consumer prices rose by 2.3 % in February 2020. Prices of goods had increased by 1.9 % and prices of services by 3.1 %. Compared to 2015, consumer prices were 9.4 % higher in February 2020.

Industrial production output in Latvia down 4.5% in January

Compared to January 2019, industrial production output decreased by 4.5 %, based on calendar adjusted data at constant prices, in January 2020.

Freight transports in Latvia suffer 8.3% decline in 2019

118 million tons of the freight was carried in transport by land and pipeline in 2019, which is a drop of 10.7 million tons (8.3 %) compared to 2018, when freight transport volume was the largest in the last five years.

Housing costs in Latvia average at EUR 151 a month in 2019

In 2019 housing costs on average constituted EUR 151 per household monthly, which is one euro more than a year ago. Share of housing costs in the total household expenditure keeps declining – last year households spent on average 12.2 % of their disposable income on housing costs: 13.4 % in 2018.

Average wage in Latvia before taxes last year – EUR 1 076

In 2019, the average gross wages and salaries for full-time work in Latvia comprised EUR 1 076. Compared to 2018, the average earnings rose by EUR 72 or 7.2 %. Average net wages and salaries (calculated based on labour taxes applicable on workplace) comprised EUR 793 or 73.7 % of gross earnings.

Latvia’s GDP growth reportedly 2.2% in 2019

Compared to 2018, the economic growth continued and Gross Domestic Product increased by 2.2 %. In 2019, GDP at current prices amounted to EUR 30.5 billion. Compared to Q3, in Q4 2019 GDP at constant prices grew by 0.1 %, according to seasonally and calendar adjusted data.

Retail trade turnover in Latvia up 2.6% in January

Compared to January 2019, total retail trade turnover rose by 2.6 % in January 2020. Turnover of retail trade in food products grew by 4.4 %.

Construction costs in Latvia up 2.8% in January

Compared to December 2019, the level of construction costs in Latvia fell by 0.2 % in January 2020. Labour remuneration of workers reduced by 0.9 %, prices of building materials – by 0.1 %, but maintenance and operational costs of machinery and equipment – rose by 0.2 %.

Employment among Latvian population reportedly at 65% in 2019

A total of 910 thousand people or 65 % of the population of Latvia aged 15–74 were employed in 2019. Compared to 2018, employment rate grew by 0.5 percentage points and number of employed persons by 0.6 thousand.

Latvia’s unemployment level reportedly at 6.3% in 2019

61.3 thousand people aged 15–74 were unemployed in 2019. Compared to 2018, number of unemployed persons dropped by 11.5 thousand or 15.8 %.

Producer price level in Latvia’s industry down 1.3%

Compared to December 2019, the level of producer prices in Latvian industry didn't change in January 2020. Prices of products sold on the domestic market reduced by 0.7 %, but prices of exported products – increased by 0.7 %.

Highest volume of harvested grains recorded in Latvia’s history in 2019

In 2019 the highest harvested production of grain was recorded – 3.2 million tonnes, which is 1.1 million tonnes or 1.5 times more than a year ago.

Number of foreign guests hosted in Latvian places of accommodation up 1.6%

2.85 million foreign and Latvian visitors stayed at Latvian tourist accommodation establishments in 2019, which is 1.6 % more than in 2018. Compared to the previous year, the number of nights spent by visitors increased by 2.6 %, reaching 5.51 million in 2019.

Consumer prices in Latvia reach 2.2% in January

Compared to January 2019, the average level of consumer prices rose by 2.2 % in January 2020. Prices of goods have increased by 2.0 %, and prices of services – by 2.7 %.

Latvia’s foreign trade turnover in December 8.2% higher when compared to a year ago

In December 2019 the foreign trade turnover of Latvia amounted to EUR 2.4 billion, which at current prices was 8.2 % larger than a year ago, of which the exports value of goods was 3.9 % higher, but imports value of goods – 11.6 % higher.

Manufacturing volume output in Latvia increases 2% in 2019

Compared to 2018, manufacturing volume rose by 2 %, based calendar adjusted data at constant prices in 2019. Mining and quarrying decreased by 5 %, electricity and gas supply – by 4.4 %, but industrial production output, which includes previously mentioned sectors grew by 0.8 %.


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