13.03.2009
Non-financial investment in Latvia in 2008
Non-financial investments (long-term investments in intangible fixed assets and investments in tangible fixed assets) in Latvia in 2008 comprised 2828.1 mln lats, a decrease of 9% if compared to 2007, according to the Central Statistical Bureau. In the public sector non-financial investments accounted for 1312.0 mln lats (46% of the total non-financial investment value), up by 6% on the previous year. In government ownerships non-financial investments have reduced by 13%. But in local government ownerships, in turn, they have grown by 30%, if compared to the previous year. In comparison with the previous year investments in real estate of local governments increased by 30%. 1516.1 mln lats (54% of the total value) were, in turn, invested in the private sector in 2008, a decrease of 19% compared to 2007.
Investment in residential and other buildings accounted for 47% or 1325.8 mln lats of the total non-financial investments, 32% or 913.2 mln lats – in technological machinery and equipment, 19% or 524.9 mln lats – in other fixed assets and inventories, 2% or 64.2 mln lats – in long-term investments.
Non-financial investments in the 4th quarter of 2008 by kind of economic activity
|
Non-financial investments, at current prices, in mln lats |
2008 at constant prices, % over 2007 |
X-XII 2008 (at constant prices), % over X-XII 2007 |
|
2008 |
X-XII 2008 |
|
Total |
2828.1 |
878.3 |
91 |
83 |
|
of which: |
|
|
|
|
|
agriculture, hunting and forestry |
123.0 |
46.3 |
133 |
222 |
|
fishing |
3.0 |
0.9 |
96 |
76 |
|
industry – total |
743.2 |
227.2 |
80 |
67 |
|
mining and quarrying |
10.7 |
2.1 |
87 |
78 |
|
manufacturing |
449.2 |
129.9 |
90 |
82 |
|
of which: |
|
|
|
|
|
manufacture of food products and beverages |
86.9 |
29.9 |
91 |
134 |
|
wood and of products of wood and cork excluding furniture |
88.3 |
26.5 |
78 |
55 |
|
manufacture of non-metallic minerals |
136.2 |
35.9 |
163 |
98 |
|
electricity, gas and water supply |
283.3 |
95.2 |
69 |
53 |
|
construction |
117.7 |
31.4 |
83 |
79 |
|
wholesale and retail trade, repair of motor vehicles, motorcycles and personal and household goods |
317.1 |
68.0 |
92 |
69 |
|
hotels and restaurants |
33.0 |
9.4 |
104 |
147 |
|
transport, storage and communication |
361.4 |
104.4 |
97 |
101 |
|
financial intermediation |
82.2 |
22.5 |
60 |
61 |
|
real estate, renting and business activities |
258.5 |
84.0 |
77 |
74 |
|
public administration and defence; compulsory social security |
481.8 |
192.0 |
107 |
98 |
|
education |
61.2 |
22.2 |
122 |
107 |
|
health and social work |
92.2 |
30.0 |
126 |
120 |
|
other community, social and personal service activities |
153.8 |
40.0 |
99 |
71 |
|
Changes of non-financial investments in the 4th quarter of 2008 by main economic activities of national economy (at constant prices, % of corresponding period of previous year) |
|
|
B – Fishing
C+D+E – Industry
F – Construction
G – Wholesale and retail trade, repair of motor vehicles, motorcycles and personal and household goods
I – Transport, storage and communication
K- Real estate, renting and business activities
L-Public administration and deference; compulsory social security
M – Education
In the 4th quarter of 2008 non-financial investments in Latvia accounted for 878.3 mln lats, 17% less than in the 4th quarter of 2007. In the fourth quarter of 2008 227.2 mln lats or 26% of the total non-financial value were invested in industry, of which 35.9 mln lats or 16% were invested in manufacturing of non-metallic mineral products, 29.9 mln lats (13%) – in manufacturing of food products and beverages, 26.5 mln lats (12%) - in the manufacture of wood and products of wood and cork, except furniture.
104.4 mln lats (12%) were invested in the sector of transport, storage and communications, a decrease of 1% if compared to the 4th quarter of 2007.
More information on non-financial investments in Latvia is available on the Web Page of the CSB.
Prepared by the Investment and Real Estate Statistics Section
tel. +371 67366857
Arvīds Uibo
March 2009
