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Friday 03.04.2020 | Name days: Daira, Dairis

Labour costs in Latvia considerably below EU and Eurozone average in 2019

Average hourly labour costs in Latvia were EUR 9.9 last year, which is considerably below the average of European Union (EU) and Eurozone, according to data published by Eurostat on Tuesday, 31 March.

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 %.

Total number of Covid-19 victims exceeds 10 000 in the world

The total number of deaths caused by Covid-19 coronavirus around the world has exceeded 10 000, according to data compiled by AFP.

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.

Latvia’s industrial production volume decline in January more rapid than EU’s average

In January 2020 industrial production output in Latvia, when compared to the same period of 2019 had declined 4.5%, which is a more rapid decline than the average in the EU, according to data published by Eurostat on Thursday, 12 March.

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.

Samples from 152 people reveal no new Covid-19 infections in Latvia

So far 152 people in Latvia have been tested for Covid-19 infection, but no new infection cases have been found, as reported by the Disease Prevention and Monitoring Centre.

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.

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 %.

Number of births in Latvia has increased in January since last year

Over the past four years, birth number is declining, however during the year there are months when greater birth number is registered. Provisional data of the Central Statistical Bureau of Latvia show that 1.6 thousand newborns were registered in January 2020, which is 5 % more than in the corresponding month a year ago.

Eurostat: Latvia’s GDP growth reportedly below average in EU in Q4 2019

When compared to the same period of the previous year, Latvia had a lower GDP than the average in the European Union in Q4 2019, according to data published by Eurostat for 20 of the union’s countries.

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 %.

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