Posts tagged as market

Lithuania’s labour market is in a better shape than in many European countries

Tuesday, August 25, 2020

Despite high unemployment figures, Lithuania’s labour market is in a better shape than in many European countries, according to the social security minister. Lithuania’s Employment Service reported the official unemployment rate was 13.3 percent last week, the highest level so far this year. However, employment is actually growing following the lifting of the coronavirus lockdown in June, said Lithuania’s Social Security and Labour Minister Linas Kukuraitis. “More people are being…

Ambassador: chance for Latvian entrepreneurs in UK market

Thursday, July 16, 2020

Despite the COVID-19 crisis it remains a favorable time for Latvian entrepreneurs in the British market, said Ivita Burmistre, new Latvian ambassador to the former Eurpoean Union member state the United Kingdom, in an interview to Latvian Radio on July 16. The ambassador has her first official working day in her new post on Thursday. One of her priorities is promoting economic activity. Burmistre considers it to be a duty for the…

Housing market prices stable, short-term rental cheaper

Thursday, June 25, 2020

Prices in real estate market are currently stable, whereas rental market, especially short-term, has seen a negative trend, Latvian Radio reported on June 24. As opposed to housing prices falling dramatically as they did after the previous crisis, prices on the market are now stable. The main changes are in the rental market: short-term rental stopped due to the lack of tourists and prices have fallen. Interest in small houses and…

New passenger car market in Latvia grows

Tuesday, January 28, 2020

Last year 20,939 new passenger cars were registered in Latvia, up 8.6% from 2018, exceeding 20,000 cars for the first time since 2008, according to the information published by the Latvian Auto Association. The association said that 2019 showed a stable growth in the passenger car market almost every month.   At the same time, the new passenger car market still has not reached results of 2007 when almost 32,500…

The size of the illicit tobacco market had more than halved in Lithuania

Monday, December 23, 2019

Smuggled cigarettes account for 21.3 percent of Lithuania’s tobacco product market, up by two percentage points compared with a year ago, according to the latest empty pack survey by Nielsen. The size of the illicit tobacco market had more than halved since 2010, but started growing again in 2016 to pass the 20 percent market-share mark in the fourth quarter of 2019, the National Association of Tobacco Producers said. As…

Lithuanian government approves electricity supply market liberalization

Thursday, December 19, 2019

The Lithuanian government on Wednesday gave the go-ahead for liberalizing the retail electricity supply market between 2021 and 2023, which means that the state regulation of electricity prices for household consumers will be phased out. The measure has yet to be approved by the Seimas. Energy Minister Zygimantas Vaiciunas says consumers will benefit in that the supply monopoly will be abolished, the market will be opened up to competition and they will be able to get…

Lithuania is dominant in the Baltic dairy market

Thursday, October 3, 2019

The leader of the dairy market in the Baltic states is Lithuania, which exceeds both Estonia and Latvia in production and processing volume, SEB’s analysis shows. Lithuania produces almost as much raw milk per year as the other Baltic countries combined, and produces 60 percent of the Baltic dairy products. Annual production of Baltic raw milk has remained at 3 million tonnes in recent years, nearly half of which is…

Is Online Gambling Legal in the Baltics?

Thursday, July 25, 2019

The Baltic sisters have been open towards all things related to progress, with a special focus on technology. Some of them even managed to become leaders in the region when it comes to the IT sector. Can you guess which ones? One of the sectors that has always been closely related to the progress achieved in technology is gambling. In fact, some of the technological trends have been actively reshaping…

Open arms for Lidl – Estonian competition watchdog predicts lower prices

Thursday, July 18, 2019

Expecting the entry of the German supermarket chain Lidl on the Estonian market, the country’s Competition Authority expects healthier competition and lower prices. Estonian public broadcaster ERR reports on Thursday, July 18, that Katrin Tasa, deputy director of the Supervisory Department of the Estonian Competition Authority said in an interview with Vikkerraadio that currently, 70 percent of Estonia’s retail market is controlled by four retail chains. «The retail market is…

Unity and prosperity of the EU is in the United States’ interest – Karins

Monday, July 15, 2019

The European Union is not a competitor to the United States, and the prosperity and unity of the EU helps the United States, Prime Minister Krisjanis Karins (New Unity) said at an Atlantic Council event in Washington, according to the Atlantic Council’s website. Karins said he was in Washington specifically to attract interest in the Latvian economy. “I want stronger Latvian-U.S. relationships through increased trade,” he said. “I am looking…