It's a good sign. Latvian imports are nearly twice the exports and Latvia pays for a lot of that by borrowing money from Scandinavian banks. That is something that cannot last forever and it's good that adjustment has started. It's still a long way to go, though: Latvia has only gone from importing 2.01 times its exports (October 2006) to 1.83 times its exports (October 2007). I hope the trade balances out before Latvia runs up too much of debt, but I'm far from sure about that.In other news from the statistics office, the inflation is up from 13.2% to 13.7%.
6 comments:
I feel so worried because I read the statistics and my family(my father, my mother, two uncles and a cousin) line in latvia, so I think that this country has a lot of problems.
There aren't doubts this country is livving a terrible situation, but the president said this was gonna change in the next couple of years. All we can do is to keep the hope.
It is quite impressive how it has been droped and recover in the last year. I expect that it can improve in the follwing years.
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