Events, data and analysis from the Baltic economies
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In late April, Latvia and Lithuania received almost simultaneous sovereign rating decisions from Fitch Ratings. Latvia was affirmed at A- with a stable outlook, while Lithuania was upgraded to A+. Estonia, whose A+ rating had been affirmed earlier,…
PhotoEstonia’s Ministry of Finance has published 2025 public-sector salary data. According to figures reported by ERR, President Alar Karis and Supreme Court Chief Justice Villu Kõve were the highest-paid officials in Estonia’s public sector, each receiving gross pay…
PhotoComparison vs March 2026.Method: non-promotional prices only.Sources: Rimi + Barbora online retail checks.Focus: lowest visible baseline price, not average price. In April, the low-cost staple segment across the Baltic states remained broadly stable. The cheapest visible baseline products…
PhotoA Bloomberg report that a group of airBaltic bondholders has hired legal advisers adds a creditor-risk layer to Latvia’s aviation debate. The issue is not only fuel prices. airBaltic’s own investor materials show a broader pressure mix: low…
PhotoLatvia’s tourism export reached €1.39bn in 2025, up 9.9% from 2024 and 53.6% above the pre-pandemic level of 2019. The figure is based on the balance-of-payments item “travel”, which measures foreign travellers’ spending in Latvia, excluding international transport…
PhotoRetail turnover increased across the Baltics in March 2026, but the recovery is not moving at the same speed. The regional picture shows three different consumption stories: Lithuania combined the highest inflation with solid real retail growth, Estonia’s…
PhotoLatvia’s bread producers say the domestic market is slowly shrinking as demographics, changing food habits, retail bake-off formats and rising costs reshape one of the country’s most traditional food sectors. Latvia’s bread market is becoming smaller, but not…
PhotoChina has lifted countermeasures against two Lithuanian banks, Urbo Bankas and Mano Bankas, after the European Union removed restrictions on two Chinese financial institutions. The decision took effect on 24 April 2026 and was framed by Beijing as…
PhotoEstonia’s state-owned transmission system operator Elering has presented a plan for a network of gas-fired power plants with a total capacity of up to around 900 MW. The plants are intended to strengthen Estonia’s electricity-system restart capability, replace…
PhotoBaltic Horizon is replacing its long-time manager Tarmo Karotam, who will step down at the end of April after around two decades with the platform. The change follows a prolonged downturn: over the past three years, cumulative losses…
PhotoLatvia’s AS Delfi, the company behind one of the country’s largest digital media platforms, has published its 2025 results. At first glance, the figures look strong: profit rose sharply, and digital subscriptions exceeded 40,000 by year-end. A closer…
PhotoLatvia’s tax revenue continued to grow in the first quarter of 2026, but again fell short of the official plan. The result points less to an immediate fiscal shock than to a recurring gap between budget assumptions and…
PhotoThe Baltic picture no longer moves in one direction. Estonia reported the strongest result in the region in 2025, with its gender pay gap falling to a record low. Latvia moved the other way, posting a clear year-on-year…
Photo🇱🇻 Latvia Budget balance:– deficit: –2.5% of GDP– €1.09 bn Gross debt:– 46.9% of GDP– €20.2 bn Revenue / Expenditure:– revenue: €18.7 bn– expenditure: €19.8 bn 🇪🇪 Estonia Budget balance:– deficit: ~–3.0% of GDP Gross debt:– ~19–20% of…
PhotoLatvia’s state-managed real estate portfolio totals just over 1 million m², according to data from the state asset manager. State-owned company Valsts nekustamie īpašumi (VNĪ), which manages part of Latvia’s public real estate, reports: Total managed area: ~1.01…
PhotoEEX and Baltpool plan to develop an organised biomass trading model for Germany, with weekly waste wood auctions run by Baltpool and a related market index published by EEX. The first auctions are expected by the end of…
PhotoAll three Baltic states started 2026 with smaller populations than a year earlier. Latvia saw the steepest drop, Lithuania the mildest, while Estonia stood in between but with a sharper structural shift: after more than a decade, net…
PhotoQ1 2026 revealed a clear divergence across Baltic ports. Latvia recorded broad-based contraction, Klaipėda posted strong growth, while Tallinn showed a winter-affected but structurally more stable pattern. The gap is visible in both total volumes and container performance,…
PhotoInflation in the Baltic states remained far below the crisis peaks of 2022-2023 in the first quarter of 2026, but the regional picture no longer moved in one simple pattern. Latvia started the quarter with the softest price…
PhotoFebruary 2026 trade data from Lithuania, Latvia and Estonia point to a broader regional shift rather than a one-month fluctuation. Goods trade remained in deficit across all three economies, while pressure was concentrated in mineral products, wood, agricultural…
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