Non-financial investment in Latvia in the 1st half-year of 2008

15.09.2008

Non-financial investment (long-term investment in intangible fixed assets and investment in tangible fixed assets) in Latvia in the 1st half of 2008 was 1223.3 mln lats, a decrease of 3% on the 1st half of 2007, according to the Central Statistical Bureau. Non-financial investment in the public sector totalled 488.6 mln lats (40% of the total non-financial investment value), up by 18% on the 1st half of 2007. 734.7 mln lats (60% of the total value) were, in turn, invested in the private sector in the 1st half of 2008, a decrease of 14% compared to the 1st half of 2007.

Long-term investment in intangible fixed assets and investment in residential and other buildings accounted for 48% or 582.0 mln lats of the total non-financial investment, 32% or 392.9 mln lats – in technological machinery and equipment, 20% or 248.4 mln lats – in fixed assets and inventories.

In the 2nd quarter of 2008 non-financial investment in Latvia accounted for 686.3 mln lats, less by 7% on the 2nd quarter of 2007.

Non-financial investment by form of ownership in the 2nd quarter of 2008

Non-financial investment, at current prices, in mln lats

Changes in non-financial investment (at constant prices), % over 2nd quarter of 2007

Total

686.3

-7

of which:

agriculture, hunting and forestry

32.9

26

fishing

0.9

80

industry – total

186.9

-12

mining and quarrying

3.3

6

manufacturing

118.3

-17

electricity, gas and water supply

65.3

-3

construction

28.4

-23

wholesale and retail trade, repair of motor vehicles, motorcycles and personal and household goods

76.7

-18

hotels and restaurants

8.7

12

transport, storage and communication

97.5

-10

financial intermediation

24.7

-37

real estate, renting and business activities

62.7

-12

public administration and defence; compulsory social security

97.4

20

education

11.8

20

health and social work

20.9

51

other community, social and personal service activities

36.8

2

186.9 mln lats or 27% of the total non-financial investment value went to industry, which is less by 12% on the 2nd quarter of 2007. 43.4 mln lats or 23% of the total non-financial investment value in industry were invested in the manufacture of other non-metallic mineral products, 25.4 mln lats (14%) - in manufacture of food products and beverages, 14.6 mln lats (8%) - in the manufacture of wood and products of wood and cork, except furniture, 9.1 mln lats (5%) - in the manufacture of chemicals and chemical products and man made fibre.

76.7 mln lats or 11% were invested in wholesale and retail trade; repair of motor vehicles, motorcycles and personal and household goods, a decrease of 18% compared to the 2nd quarter of 2007.

97.5 mln lats or 14% were invested in the sector of transport, storage and communications, a decrease of 10% compared to the 2nd quarter of 2007.

Prepared by the Investment and Real Estate Statistics Section
tel. +371 67366857
Arvīds Uibo