EconomyStatistics Lithuania informs that based on more comprehensive business, tax and price statistics, in III quarter 2017, gross domestic product (GDP) at current prices amounted to EUR 11.2 billion. Compared to II quarter 2017, seasonally and calendar adjusted, the real GDP change stood at 0.1% (unadjusted – 9.3%). Statistics Lithuania informs that in October 2017, compared to September, construction input prices decreased by 0.3%. The greatest influence on the overall price change was made by a 1.4% decrease in wages and salaries, as well as by a 0.2% increase in prices for construction materials and products. Among construction materials and products, an increase in prices was observed for pipes – 0.8%, insulation materials – 0.7%, while general building materials and wood products went down in price by 0.4 and 0.3% respectively. Ricor Systems 2011 – A.C.S. Ltd., an Israeli scientific research company working with defense and space projects, has filed an application under the EU Smart FDI instrument and said it aimed to establish a unique perimeter monitoring and security device Halo in Lithuania, Verslo Zinios business daily said. With Lithuania's natural gas consumption on the decline, the Klaipeda liquefied natural gas (LNG) terminal's maintenance costs for consumers will rise next year, which will likely lead to an increase in final gas prices. The parcel delivery services provider DPD is to install more than 250 new parcel terminals in the Baltic countries in the next two years and invest nearly 5 million euros. Lithuania's confectionery and pet food manufacturer Mars Lietuva, which is part of the international food industry giant Mars, will invest more than 30 million euros in expansion, hoping to boost production capacities by nearly a third. Statistics Lithuania informs that in III quarter 2017 average gross monthly earnings in the whole economy (individual enterprises excluded) totalled EUR 850.8: in the public sector2 – EUR 851.8, in the private sector – EUR 850.4. Against II quarter 2017, average gross monthly earnings in the whole economy increased by 1.4%: in the public sector – by 1.1%, in the private sector – by 1.6%. Online travel giant Booking.com plans to open a customer service center in Vilnius in April 2018 and to create up to 900 new jobs within five years. Maxima Grupe (Maxima Group), the leading Baltic retailer that owns the Aldik retail chain in Poland, has signed an investment agreement on the acquisition of Stokrotka, a chain of 410 convenience stores in the neighboring country. Rainbow Tours, Poland's second-largest tour operator, is entering the Lithuanian market in early December and should offer more directions for clients. |
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