News
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Industry Continued to Grow Rapidly, a Slower Rate Expected in the Next Months
An Annual Retail Turnover Increase for the First Time since 2008
Rapid Contraction of Wage-Productivity Gap Allows Industrial Growth
Latvia's Outlook Raised to `Stable' by Fitch on Budget, Improving Economy
Government Takes Action to Attract Large Foreign Investments
Action Plan of Combating Shadow Economy Approved
Retail Turnover Indicators Stabilize as the Future Evaluation of Households Improve
Bank of Latvia Lowers Deflation Forecast for 2010
Current Account Positive, Overall Balance of Exports and Imports Posts a Small Surplus
Riga welcomes 80 Latvia's Honorary Consuls from 49 countries
Money in Circulation Stabilized, Drop in Lending Abating
Shadow Economy Reduction Plan Offers to Facilitate Formal Economy
Beneficial Development Requires Purposeful Cooperation
Foreign Investors Council in Latvia adopts the statement of Good Corporate Citizenship
The meeting of the high level officials and the Foreign Investors' Council in Latvia
The World Bank Suggests Measures for Further Fiscal Consolidation
Moody’s has Raised Latvia’s Ratings Outlook
Moody’s Considers Latvian Economy Stabilising
Association of Latvian Commercial Banks Forecasts 3,2% Growth in 2011
Parex Index: the Mood of Entrepreneurs is Becoming More Stable
Latvia – Leader of Baltics on the EU Fund Acquisition
Latvia to Become Main Transit State for Shipping NATO Non-military Cargos to Afghanistan
Exports Still on the Rise
By Latvian Institute
On September 9, the Central Statistical Bureau released data showing that in July of 2010 the value of Latvian foreign trade transactions increased, as both imports and exports grew (respectively by 29.4% and 41.9% over the year).
Economics Minister Artis Kampars said: “The fact that the country’s exports are growing every month is a positive signal for Latvia’s economy. Latvia’s exports are growing not only because of the improving situation in the foreign markets, but also because of the growing competitiveness of local goods and services.” He reminded that in July 2010 the export of goods reached LVL 388.1 million (EUR 552.2 mln), topping the figures of the pre-crisis summer.
Daina Paula, Bank of Latvia Economist, explained: “The link between the growth of the processing industries in breakdown by industry and exports indicates that the economic recovery in Latvia is based on the opportunities to export. A positive trade balance was therefore observed in groups of goods untypical for the pre-crisis period, including specific kinds of equipment, devices and vehicles.” Paula underlined that the dynamics of the competitiveness of prices and costs has been and remains beneficial which is one of the factors that have allowed to maintain or increase our market shares in the markets of our main trading partners.
For further information see:
http://www.csb.gov.lv/csp/events/?mode=arh&period=09.2010&cc_cat=474&id=12050
