Economy

During IKEA shop opening in Vilnius
Economy

Household consumption is becoming increasing factor of economic growth

March 31, 2015 ELTA EN 0

With declining export and weakening economic growth, household consumption is becoming an ever increasing factor of economic growth. Having reached its peak ever since late 2007, consumer confidence provides hope that the negative influence of declining export to the Commonwealth of Independent States (CIS) may be at least partially counterbalanced by growing consumption. On the other hand, it seems that Lithuanians will tend to save more this year, says Chief Economist of Swedbank, Vaiva Šečkutė. […]

Fitch Ratings
Economy

Fitch gives Lithuania A-, outlook stable

March 31, 2015 ELTA EN 0

Fitch Ratings has affirmed Lithuania’s Long-term foreign and local currency Issuer Default Ratings (IDRs) at ‘A-‘. The outlooks are stable. The issue ratings on Lithuania’s senior unsecured foreign and local currency bonds have also been affirmed at ‘A-‘. The Country Ceiling has been affirmed at ‘AAA’ and the Short-term foreign currency IDR at ‘F1’, Reuters quotes the rating agency’s statement. […]

Euros
Economy

In 2014, hourly labour cost in Lithuania stands at EUR 6.5

March 31, 2015 ELTA EN 0

In 2014, average hourly labour costs in the whole economy (excluding agriculture and public administration) were estimated to be EUR 24.6 in the European Union and EUR 29.2 in the euro area. However, this average masks significant gaps between EU Member States, with the lowest hourly labour costs recorded in Bulgaria (EUR 3.8), Romania (EUR 4.6), Lithuania (EUR 6.5 or LTL 22.3) and Latvia (EUR 6.6) and the highest in Denmark (EUR 40.3), Belgium (EUR 39.1), Sweden (EUR 37.4) and Luxembourg (EUR 35.9), Eurostat, the statistical office of the European Union reports. […]

Investment
Economy

World’s largest climate data provider to set up R&D unit in Lithuania

March 29, 2015 ELTA EN 0

StormGeo, the biggest global provider of decision support solutions and services for weather-sensitive operations for the oil and gas, wind energy and shipping industries, is establishing a product development office in Vilnius, the agency Invest Lithuania reports. […]

Trucks at the Lithuanian-Belorussian border
Economy

Russia calls off tightened border checks of Lithuanian trucks

March 26, 2015 BNS EN 0

Russia has called off tightened border checks of Lithuanian trucks, which were introduced about four months ago, president of the Lithuanian Association of Small and Medium-Sized Haulers, has said. […]

Production at the Šiauliai „ROL/Statga“
Economy

Industrial production in Lithuania up by 5.2% in Feb

March 24, 2015 ELTA EN 0

In February 2015, industrial production totalled EUR 1.49 billion at current prices and, compared to January, grew by 5.2 percent at constant prices, seasonally and working day adjusted – by 6.2 percent, Statistics Lithuania announced. […]

Klaipėdos konteinerių terminalas
Economy

More goods and passengers transported in Lithuania in 2014

March 21, 2015 ELTA EN 0

According to preliminary data of Statistics Lithuania, in the fourth quarter of 2014, all types of transport carried 26.6 million tonnes of goods, or by 0.8 percent more than in the fourth quarter of 2013. […]