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February 2009 Baltic Countries’ Overview In the end of 2008 more challenging times have reached all Baltic countries. In the 4th quarter of 2008 the GDP change compared to same period previous year was negative...   [More]

February 2009 Baltic Countries’ Overview In the end of 2008 more challenging times have reached all Baltic countries. In the 4th quarter of 2008 the GDP change compared to same period previous year was negative for all three countries (Lithuania -1. 5%, Estonia -9. 4% and Latvia -10. 5%) while it was the first quarter for Lithuania with negative growth since 1999. Unemployment level has increased reaching 7. 5% in Latvia (highest in the Baltic countries), 6. 2% in Estonia and 5. 9% in Lithuania. The condition of fast moving consumer goods (FMCG) market was in a better situation than total economy as the estimated volume change for Lithuania was -1. 4% in the last quarter of 2008, -6. 8% for Estonia and -7. 6% for Latvia. BALTIC COUNTRIES THROUGH CRISIS Source: National Statistics Department, Estonia, Latvia, Lithuania, February 2009 GDP growth +/- % last year (at constant prices) 7,0 5,2 2,9 -1,5 3,3 0,1 -4,6 -10,5 0,2 -1,1 -3,5 -9,4 -15 -10 -5 0 5 10 2008 Q1 2008 Q2 2008 Q3 2008 Q   [Less]