Non-financial investment in Latvia in the nine months of 2008

15.12.2008

Non-financial investment (long-term investment in intangible fixed assets and investment in tangible fixed assets) in Latvia in 9 months of 2008 was 1949.8 mln lats, a decrease of 5% on 9 months of 2007, according to the Central Statistical Bureau. Non-financial investment in the public sector totalled 831.1 mln lats (43% of the total non-financial investment value), up by 12% on the same period of 2007. Investment in real estate of local governments increased by 45% compared to the same period of previous year. 1118.7 mln lats (57% of the total value) were, in turn, invested in the private sector in 9 months of 2008, a decrease of 14% compared to 9 months of 2007.

Investment in residential and other buildings accounted for 47% or 912.4 mln lats of the total non-financial investment, 31% or 614.9 mln lats – in technological machinery and equipment, 20% or 383.2 mln lats – in other fixed assets and inventories, 2% or 39.3 mln lats – in long-term investment.

Non-financial investment by form of ownership in 9 months of 2008 and in the 3rd quarter

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

I-IX 2008 (at constant prices), % over I-IX 2007

VII-IX 2008 (at constant prices), % over VII-IX 2007

2008 I-IX

2008 VII-IX

Total

1949.8

726.5

95

93

of which:

agriculture, hunting and forestry

76.7

21.8

107

72

fishing

2.1

1.1

110

381

industry – total

516.0

177.8

89

89

mining and quarrying

8.6

3.9

89

83

manufacturing

319.3

100.6

95

94

of which:

manufacture of food products and beverages

56.9

16.8

78

105

wood and of products of wood and cork excluding furniture

61.8

26.8

95

88

manufacture of other non-metallic minerals

100.3

37.3

217

248

electricity, gas and water supply

188.1

73.3

81

84

construction

86.3

34.4

85

82

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

249.1

92.5

101

104

hotels and restaurants

23.7

9.1

93

84

transport, storage and communication

257.0

83.7

95

86

financial intermediation

59.7

18.5

59

53

real estate, renting, computer and related activities, research and development and other business activities

174.6

66.0

79

80

public administration and defence; compulsory social security

289.7

137.2

115

108

education

39.0

16.9

134

174

health and social work

62.1

26.8

130

118

other community, social and personal service activities

113.8

40.7

115

102

 

Changes of non-financial investment by main sectors of national economy in the 3rd quarter of 2008 (at constant prices; % over the same period of previous year)

In the 3rd quarter of 2008 non-financial investment in Latvia was 726.5 mln lats which is more by 7% compared to the same period of 2007.

In the 3rd quarter of 2008 177.8 mln lats or 24% of the total non-financial value were invested in industry, of which 37.3 mln lats or 21% of non-financial investment in industry went to manufacture of other non-metallic mineral products, 26.8 mln lats (15%) – to manufacture of wood and of products of wood and cork excluding furniture, 16.8 mln lats (9%) – to manufacture of food products and beverages.

92.5 mln lats or 13% of total non-financial investment went to wholesale and retail trade; repair of motor vehicles, motorcycles and personal and household goods, an increase of 4% compared to the 3rd quarter of 2007.

83.7 mln lats or 12% of the total non-financial investment went to the sector of transport, storage and communications, a decrease of 14% compared to the 3rd quarter of 2007.

More information on non-financial investment in Latvia can be obtained on the home page of CSB.

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