According to Statistics Estonia, in January 2023, exports and imports of goods at current prices decreased by 9% and 1% respectively, compared with the same month in 2022. Estonia’s exports of goods amounted to 1.5 billion and imports to 1.8 billion euros at current prices. The trade deficit was 272 million euros, up by 127 million euros from a year earlier, Statistics Estonia reported.

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In February 2023, EU-harmonised average annual inflation in Lithuania stood at 19.6%, the State Data Agency said on Thursday.

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The Lithuanian Business Confederation (LVK) says it is concerned about possible tax hikes as the business community has no information to date of a planned tax reform to be tabled in the parliamentary spring session starting Friday.

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2022 was a profitable year for Šiauliai Airport, which has the longest runway in the Baltic States.

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Last year, according to preliminary data, cargo transportation in the Lithuanian transport sector decreased by about 17%, however, 48% more passengers were transported by various modes of transport, whereas, the number of passenger flow at airports has more than doubled, the Ministry of Transport and Communications said presenting its Transport Sector Overview 2022.

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President Gitanas Nausėda says solidarity with the state is natural in non-typical situations when exceptionally high profits are gained in certain sectors due to external circumstances.

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With electricity prices recently falling below the level of EUR 0.28 per kilowatt-hour compensated by the state, more than half of Lithuanians are still paying the higher tariff, a representative survey conducted by Spinter Tyrimai shows.

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The Ministry of Finance finds that sustainable state finances in the long term require taking the Estonian state budget from red to black in the coming years. The ministry suggests that a deficit of EUR 750 million needs to be covered though cuts and tax hikes, reports Estonia’s public broadcaster ERR.

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The European Public Prosecutor’s Office suspects one of the oldest travel agencies in Estonia, Baltic Tours, and its owner, Andreas Metsamaa, of major fraud in connection with the provision of nearly EUR 5 million in accommodation services to the European Border and Coast Guard Agency (Frontex), Estonia’s public broadcaster ERR reports citing the daily Eesti Ekspress.

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The Office of the President has acquired a remote solar power plant. It is estimated that the investment will pay off in less than two years and help save around EUR 200,000 a year.

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LOT Polish Airlines will add four weekly scheduled flights between Vilnius and Warsaw from 28 March, following the current 28 weekly flights between the two capitals, Lithuanian Airports said in a press release.

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The alignment of the non-taxable income rate (NPD) with minimum monthly wage (MMA) is only possible by reducing the MMA down to the NPD, Prime Minister Ingrida Šimonytė says in her response to a presidential adviser’s recent comment. The MMA and NPD would only be raised to the extent depending on the economic growth, Šimonytė noted.

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On 28 February-5 March, compared with the previous week, the wholesale price of electricity in Lithuania increased by 13% to 118.37 EUR/MWh. In Latvia and Estonia, the price increased by 11% to 116.57 EUR/MWh and 116.42 EUR/MWh respectively.

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Latvia’s national airline airBaltic announces that during the summer season of 2023 it will wet-lease four additional aircraft short-term – to meet the increasing passenger demand and ensure a successful performance of planned flights.

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In January 2023, the seasonally adjusted volume of retail trade increased by 0.3% in both the euro area and the EU, compared with December 2022, Eurostat, the statistical office of the European Union, reports.

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In Q4 2022, Estonia’s Inbank AS earned a consolidated net profit of EUR 2.1 million, down by 27% year-on-year, while its net profit for the full year of 2022 was EUR 21.1 million, a jump of 92% year-on-year. The return on equity in Q4 was 8.4% and for the full year 23.3%, the bank said in a press release.

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In 2022, the Citadele bank earned operating income of EUR 168.2 million, 12% growth year-on-year. In the last quarter of 2022, the bank’s operating income was EUR 46.4 million or 10% more if compared to the Q4 of 2021, Citadele said in a press release.

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In February 2023, compared to January, the economic sentiment indicator, i.e. confidence of economic actors – producers, consumers and investors – in Lithuania’s economy, decreased from minus 4.6 to minus 6.5%, the State Data Agency said Tuesday.

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According to Statistics Estonia, in January, the turnover of retail trade enterprises was EUR 800 million. Compared with January 2022, turnover decreased by 7% at constant prices.

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European Union statistics on income and living conditions (EU-SILC) compiled by the Central Statistical Bureau of Latvia (CSB) show that in 2022, 6% of households due to financial difficulties had been in arrears on utility bills at least once during the past twelve months (6.1% in 2021) while 6.3% have been in arrears on rent or mortgage repayment for the main dwelling (6.4% in 2021).

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