•The GDP growth for Latvia during Q2 2018 reached 5.3% y/y. The rate of economic expansion was among the top 3 in the EU.
•In August 2018, the average level of consumer prices increased by 2.8% y/y. In August 2018 the prices of products sold on the domestic market went up by 1.3 % y/y and the prices of exported products rose by 0.5% y/y. In June, foreign trade turnover in goods was 9.1% higher year on year.
•In July 2018, industrial production output grew by 3.6%. The largest y/y increases were in the manufacture of motor vechicles (36.3%) and chemical products (26.2%). The largest y/y declines were recorded in the manufacture of paper and paper products (9.1%) and of non-metallic mineral products (5%).
•During the H1 2018 the volume of freight carried by land and pipelines increased by 3 million tonnes or 5.3%, but freight turnover reduced by 1.4 %. A drop in the amount of rail freight and an increase in road freight was observed.
•Current modern industrial and logistics stock in Latvia is ca. 922,000 sq m.
•During H1 2018, industrial and logistics stock in Latvia increased by ca. 4,400 sq m with Balt Cargo Solutions delivering their latest stage in Q2 2018. Around 175,000 sq m (19% of supply) of space is under construction or in the latter stages of planning. 77,600 sq m is set to be delivered in H2 2018.
•Q2 2018, the average gross salary in Riga was 1,128 EUR/mth (+7.4% y/y), employment at 64.4% (+1.8% y/y)
•During H1 2018 the total investment volume in the Latvia industrial and logistics sector was EUR 12.1 mln, showing an increase of EUR 5.3 mln when compared with H1 2017. The largest transaction in H1 2018 was an acquisition of Industrial Park «P5» by East Capital for a reported amount of EUR 10.6 mln.
•The leading Industrial investment position during H1 2018 was held by Estonia with EUR 25.6 mln (61.5%), followed by Latvia with EUR 12.1 mln (29.1%), leaving Lithuania in third place with EUR 3.9 mln (9.4%).