2005 1 RAIS APSKATS - Makroekonomika · 6 MONETÂRAIS APSKATS · MONETARY REVIEW samazinâjâs, un marta beigâs Brent jçlnaftas cena bija sarukusi lîdz 49–51 ASV dolâram par

MONETÂRAIS APSKATS • MONETARY REVIEW 1•2005

© Latvijas Banka, 2005

Pârpublicçjot obligâta avota norâde.The source is to be indicated when reproduced.

SATURSSaîsinâjumi 4Ievads 5Ârçjâ ekonomiskâ vide 5Ârçjâ sektora attîstîba 8

Ârçjâ tirdzniecîba un konkurçtspçja 8Maksâjumu bilance 10

Iekðzemes ekonomiskâ aktivitâte 11Kopçjais pieprasîjums 11Kopçjais piedâvâjums 12Nodarbinâtîba un darba samaksa 13

Cenu dinamika 14Fiskâlais sektors 15Monetârâ un finanðu attîstîba 16

Banku likviditâte un Latvijas Bankas operâcijas 16Naudas râdîtâju dinamika 18

Procentu likmes 22Vçrtspapîru un valûtas tirgus attîstîba 23MFI darbîba 25Naudas râdîtâju sezonâlâ izlîdzinâðana 26Latvijas maksâjumu statistika 28

Norçíiniem izmantojamo klientu kontu skaits un to atlikumi 29Klientu bezskaidrâs naudas maksâðanas lîdzekïu lietoðana 29Skaidrâs naudas darîjumi 31Banku norçíinu kartes un mazumtirdzniecîbas kartes, bankomâti unnorçíinu karðu pieòemðanas vietas un tîkli 32

Latvijas Bankas pamatuzdevumu izpildes normatîvâs aktualitâtes 33Statistiskâ informâcija 65Papildinformâcija 130

CONTENTSAbbreviations 4Introduction 35External Economic Environment 35External Sector Developments 38

Foreign Trade and Competitiveness 38Balance of Payments 40

Domestic Economic Activity 41Aggregate Demand 41Aggregate Supply 42Employment, Wages and Salaries 43

Price Dynamics 44Fiscal Sector 45Monetary and Financial Developments 46

Bank Liquidity and the Bank of Latvia's Operations 46Dynamics of Monetary Aggregates 48

Interest Rates 52Securities and Foreign Exchange Market Developments 53MFI Developments 55Seasonal Adjustment of Monetary Aggregates 56Latvia's Payment Statistics 58

Number of Customer Accounts and Their Balances 59The Use of Customers' Cashless Payment Instruments 59Cash Transactions 61Bank Payment Cards and Retailer Cards, Automated Teller Machinesand Points of Sale and Their Networks 62

Highlights of Resolutions and Regulations Adopted in Pursuitof the Bank of Latvia's Main Tasks 64Statistics 65Additional Information 133

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MONETÂRAIS APSKATS · MONETARY REVIEW

SAÎSINÂJUMI

ASV Amerikas Savienotâs ValstisBALTIX vienotais Baltijas valstu birþu kapitalizâcijas indekssCAE Centrâlâ Eiropa un AustrumeiropaECB Eiropas Centrâlâ bankaEKS Elektroniskâ klîringa sistçmaEMS Ekonomikas un monetârâ savienîbaES Eiropas SavienîbaES10 valstis valstis, kuras pievienojâs ES 2004. gada 1. maijâES15 valstis valstis, kuras ietilpa ES pirms 2004. gada 1. maijaFRS Federâlo rezervju sistçmaIKP iekðzemes kopproduktsLCD Latvijas Centrâlais depozitârijsMFI monetârâ finanðu iestâdeOPEC Naftas eksportçtâju valstu organizâcija (Organization of the

Petroleum Exporting Countries)PCI patçriòa cenu indekssPVN pievienotâs vçrtîbas nodoklisREK lata reâlâ efektîvâ kursa indekssRFB Rîgas Fondu birþaRIGIBOR Riga Interbank Offered Rate; Latvijas starpbanku kredîtu procentu

likmju indekssRIGSE kapitalizâcijas indekss, kas tiek attiecinâts pret iepriekðçjo vçrtîbu

un raksturo kopçjo ieguldîjuma atdevi un kurâ ietvertas visas RFBOficiâlâ un Otrâ saraksta uzòçmumu akcijas

SAMS Starpbanku automatizçtâ maksâjumu sistçmaSDR Speciâlâs aizòçmuma tiesîbas (Special Drawing Rights)

ABBREVIATIONS

US United States of AmericaBALTIX Pan-Baltic capitalisation-weighted chain-linked total return indexCEE countries Central and East European countriesECB European Central BankEKS Electronic Clearing SystemEMU Economic and Monetary UnionEU European UnionEU10 countries which joined the EU on May 1, 2004EU15 EU countries before May 1, 2004FRS Federal Reserve SystemGDP Gross Domestic ProductLCD Latvian Central DepositoryMFI Monetary Financial InstitutionOPEC Organization of the Petroleum Exporting CountriesCPI Consumer Price IndexVAT Value Added TaxREER Real Effective Exchange Rate Index of the LatsRSE Riga Stock ExchangeRIGIBOR Riga Interbank Offered RateRIGSE Capitalisation-based total return index including all company

shares quoted on the RSE Official List and the RSE Second ListSAMS Interbank Automated Payment SystemSAXESS Common Trading PlatformSDR Special Drawing Rights

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1 · 2005

IEVADS

Latvijas tautsaimniecîbas attîstîbai 1. ceturksnî bija raksturîgs spçcîgs iekðzemespatçriòð un augsts ieguldîjumu lîmenis. Labi darbîbas râdîtâji bija transporta, gla-bâðanas un sakaru nozarei, strauji attîstîjâs bûvniecîba un mazumtirdzniecîba, betrûpniecîbas raþoðanas apjoms nepalielinâjâs. To ietekmçja sareþìîjumi atseviðíurûpniecîbas nozaru darbîbâ, piemçram, koksnes, koka un koría izstrâdâjumu ra-þoðanâ (izòemot mçbeles) un enerìçtikâ, ko ietekmçja vienreizçjs faktors – spçcîgâvçtra janvârî. Tâdçjâdi kopçjâ tautsaimniecîbas izaugsme palçninâjâs un LatvijasIKP salîdzinâjumâ ar 2004. gada 1. ceturksni palielinâjâs par 7.4%. Samazinâjâspatçriòa cenu gada inflâcija (no 7.3% decembrî lîdz 6.4% martâ), savukârt gadapamatinflâcija saruka lîdz 5.4%. Lai gan eksporta kâpuma temps bija ievçrojamilielâks nekâ importa pieauguma temps, tekoðâ konta deficîta lîmenis joprojâmbija augsts.

Tautsaimniecîbas izaugsme ïâva valdîbai nodroðinât budþeta pârpalikumu, bûtiskiaugot nodokïu ieòçmumiem. Budþeta ieòçmumus palielinâja arî saòemtâ ES finan-siâlâ palîdzîba. 1. ceturksnî valsts konsolidçtâ kopbudþeta finansiâlais pârpalikumsbija 43.0 milj. latu – par 25.0% lielâks nekâ 2004. gada atbilstoðajâ periodâ.

Augsto iekðzemes pieprasîjumu joprojâm veicinâja straujâ kreditçðanas attîstîba.Kreditçðanas gada pieauguma temps janvârî pârsniedza 50% un februârî un martâtikai nedaudz samazinâjâs (attiecîgi lîdz 48.2% un 49.5%). Rezidentu finanðu ie-stâdçm, nefinanðu sabiedrîbâm un mâjsaimniecîbâm izsniegto kredîtu atlikumapieaugumu nodroðinâja gan hipotçku kredîta, gan komerckredîta un industriâlâkredîta atlikuma strauja palielinâðanâs. Auga arî patçriòa kreditçðana. Izteiktâkakïuva tendence pakâpeniski atteikties no aizòemðanâs latos un ASV dolâros, gal-venokârt òemot kredîtu eiro. Kreditçðanu veicinâja gan iekðzemes noguldîjumuatlikuma palielinâðanâs, gan no ârvalstu bankâm (galvenokârt mâtesbankâm)piesaistîtie resursi.

ÂRÇJÂ EKONOMISKÂ VIDE

Pasaules tautsaimniecîba 1. ceturksnî turpinâja attîstîties, apsteidzot potenciâlalîmeni un IKP pieauguma tempam sasniedzot 3.6%, kaut gan ekonomiskâ aktivitâtepieaugoðo naftas cenu ietekmç nedaudz samazinâjâs. Tomçr atseviðíu valstu eko-nomiskâ aktivitâte turpinâja palielinâties. 1. ceturksnî bija vçrojama Íînas, Japânas,ASV un ES10 valstu tautsaimniecîbas strauja izaugsme. Savukârt eiro zonas valstîstâ joprojâm bija lçna. Pieaugot ASV tautsaimniecîbas izaugsmes tempam un uzla-bojoties nodarbinâtîbas râdîtâjiem, pieauga pârliecîba par FRS bâzes likmes tâ-lâku pakâpenisku paaugstinâðanu.

Naftas cenas 1. ceturksnî atkal sâka pieaugt, tâpçc tika pazeminâtas pasaules taut-saimniecîbas attîstîbas prognozes 2005. gadam. Marta otrajâ pusç ASV WTI jçl-naftas un Eiropas Brent jçlnaftas cenas pârsniedza 57 ASV dolârus par barelu (sk.1. att.). 1. ceturksnî Brent jçlnaftas cena pieauga par 25%, bet OPEC naftas cena –par 37%. Naftas cenu kâpumu galvenokârt veicinâja naftas produktu pieprasîjumapieaugums pasaulç, îpaði Âzijas reìiona valstîs, un baþas, ka pasaules naftaspieprasîjuma pieaugums bûs lielâks nekâ naftas ieguves palielinâjuma potenciâls,veicinot investoru spekulâcijas ar naftas nâkotnes lîgumiem. Naftas cenu kâpumuietekmçja arî OPEC naftas ieguves apjoma samazinâjums lîdz 27 milj. barelu dienâno 1. janvâra un aukstâks laiks par vidçjo ASV ziemeïos un Eiropâ, kâ arî naftasieguves traucçjumi Ziemeïjûrâ un Meksikas lîcî. Lai samazinâtu spriedzi naftastirgû, OPEC kârtçjâ sanâksmç 16. martâ nolçma palielinât naftas ieguves apjomupar 0.5 milj. barelu dienâ. Pçc naftas ieguves palielinâjuma tâs cenas nedaudz

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samazinâjâs, un marta beigâs Brent jçlnaftas cena bija sarukusi lîdz 49–51 ASVdolâram par barelu, bet OPEC naftas cena – lîdz 48–50 ASV dolâriem par barelu.

FRS, turpinot 2004. gada jûnijâ sâkto ierobeþojoðâkas monetârâs politikas îsteno-ðanu, 1. ceturksnî divas reizes – 2. februârî un 22. martâ – paaugstinâja bâzes likmi(abas reizes par 25 bâzes punktiem – lîdz 2.75%; sk. 2. att.). Pârçjâs pasaules lielâkâscentrâlâs bankas bâzes likmes nemainîja. Tâdçjâdi 1. ceturkðòa beigâs ECB bâzeslikme saglabâjâs vçsturiski zemâkajâ lîmenî (2.00%), savukârt Anglijas Bankas unJapânas Bankas bâzes likmes bija attiecîgi 4.75% un 0.10%. ECB, atstâjot pamat-likmi nemainîgu, norâdîja, ka cenu stabilitâtes iekðzemes riski joprojâm ir zemi,bet vidçjâ termiòâ nepiecieðams uzmanîgi sekot ârçjo risku (respektîvi, globâlonaftas cenu) attîstîbai un to iespçjamai ietekmei uz eiro zonas inflâciju.

Pasaules akciju tirgos 1. ceturksnî bija vçrojams attîstîbas tempu palçninâjums, kogalvenokârt veicinâja augstas naftas cenas un neviennozîmîgâ pasaules tautsaim-niecîbas attîstîbas tendence. ASV akciju tirgu attîstîbu negatîvi ietekmçja arî FRSbâzes likmes paaugstinâðana. Pârskata ceturksnis salîdzinâjumâ ar 2004. gada 4. ce-turksni ASV akciju tirgiem nebija veiksmîgs. ASV akciju tirgus indekss S&P 5001. ceturksnî samazinâjâs par 2.6%, bet tehnoloìisko uzòçmumu indekss NASDAQComposite – par 8.1%. Pretstatâ ASV akciju tirgiem Eiropas un Âzijas akciju tirgos1. ceturksnî turpinâjâs lçns kâpums. Eiropas akciju tirgus indekss Dow Jones EUROSTOXX 50 pieauga par 3.5%, bet Japânas akciju tirgus indekss Nikkei 225 – par1.6%. Savukârt Krievijas akciju tirgû bija vçrojams kâpums, ko galvenokârt noteicaenergoresursu cenu palielinâðanâs pasaules tirgos, kâ arî to komersantu pozitîviedarbîbas râdîtâji, kuru akcijas tiek kotçtas birþâ. Kopumâ 1. ceturksnî Krievijasakciju tirgus indekss RTS pieauga par 8.9%.

Valûtas tirgos 1. ceturksnî ASV dolâra kurss attiecîbâ pret citâm pasaules nozîmî-gâkajâm valûtâm svârstîjâs pretçjos virzienos, janvârî un martâ pieaugot, bet feb-ruârî samazinoties. ASV dolâra kursa svârstîbas galvenokârt izraisîja lielais ASVtekoðâ konta un budþeta deficîts un bâzes likmes paaugstinâðana, pârmaiòus tevienam, te otram faktoram spçcîgâk ietekmçjot ASV dolâra kursa attîstîbu. Lie-

1. attçls

BRENT UN OPEC NAFTAS CENAS(ASV dolâros par barelu)

60

55

25

30

35

45

50

40

60

55

25

30

35

45

50

40

OPECBrent

IV V VII VIIIVI IX

2004 2005

X XI XIIIII IIIIII

2. attçls

4 4

3 3

5 5

0 0

2 2

1 1

PASAULES CENTRÂLO BANKU NOTEIKTÂSBÂZES LIKMES(%)

FRS

JapECB

ânas BankaAnglijas Banka

IV V VII VIIIVI IX

2004 2005

X XI XIIIII IIIIII

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1 · 2005

lâkâs svârstîbas 1. ceturksnî bija vçrojamas eiro kursam attiecîbâ pret ASV dolâru(pieaugums – 4.9%). ASV dolâra kurss attiecîbâ pret Japânas jenu palielinâjâspar 4.0%, bet pret Lielbritânijas sterliòu mârciòu – par 1.8%.

Parâda vçrtspapîru tirgû valdîbas obligâciju peïòas likmes 1. ceturksnî galvenokârtpieauga. Piemçram, ASV valdîbas un Lielbritânijas valdîbas 10 gadu obligâcijupeïòas likmes palielinâjâs attiecîgi par 30 un 13 bâzes punktiem. Savukârt Vâcijasvaldîbas 10 gadu parâda vçrtspapîru peïòas likmes 1. ceturkðòa beigâs salîdzinâjumâar 2004. gada 4. ceturkðòa beigâm nemainîjâs.

ASV IKP 1. ceturksnî pieauga lçnâk, nekâ prognozçts (par 3.8%; prognoze – 4.0%),galvenokârt martâ notikuðâs ekonomiskâs aktivitâtes palçninâðanâs dçï. Lai ganenerìijas cenas strauji palielinâjâs, privâtais pieprasîjums 1. ceturksnî vçl saglabâjâssamçrâ spçcîgs (pieaugums – 3.6%). Uzòçmçjdarbîbas investîcijas palielinâjâs par6.6%, bet valdîbas patçriòð reâlajâ izteiksmç – tikai par 0.2%. Eksportam palieli-noties par 8.9%, importa kâpums bija straujâks (9.6%), tâpçc neto eksporta ietekmeuz IKP bija negatîva un turpinâja pasliktinâties arî ârçjâs tirdzniecîbas bilance.1. ceturksnî ASV pieauga inflâcija. Tas skaidrojams gan ar enerìijas cenu kâpumu,gan arî ar vienîbas darbaspçka izmaksu palielinâðanos gada sâkumâ. Martâ patçriòacenu indekss salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu pieauga par 3.1%.

Japânas tautsaimniecîba 1. ceturksnî attîstîjâs strauji – IKP salîdzinâjumâ ar ie-priekðçjo ceturksni pieauga par 4.9%, galvenokârt iekðzemes pieprasîjuma attîstî-bas dçï. Arî rûpnieciskâs raþoðanas apjoms pçc krituma iepriekðçjâ ceturksnî atkalsâka palielinâties, tomçr eksporta izaugsme vçl nebija bûtiska.

Eiro zonas IKP kâpums 1. ceturksnî nedaudz paâtrinâjâs, salîdzinâjumâ ar iepriek-ðçjo ceturksni pieaugot par 0.5% (2004. gada 4. ceturksnî – par 0.2%). Tomçr jauceturkðòa otrajâ pusç eiro zonas tautsaimniecîbas attîstîbâ atkal bija vçrojamapalçninâðanâs tendence. Pçc pieauguma decembrî un janvârî eiro zonas rûpniecîbassektorâ februârî un martâ aktivitâte mazinâjâs. Par to liecinâja raþoðanas apjomasarukums un raþotâju konfidences apsekojuma dati (gan IFO, BNB un INSEE,gan eiro zonas rûpniecîbas sektora PMI indekss). Aktivitâtes palçninâðanos ana-lîtiíi skaidroja gan ar pieprasîjuma kritumu, gan ar rûpniecîbas sektorâ notieko-ðajâm krâjumu korekcijâm. No lielajâm eiro zonas valstîm situâcija îpaði straujipasliktinâjâs Itâlijâ: pçdçjo 4 gadu laikâ Itâlijas rûpnieciskâs raþoðanas apjomskatru gadu saruka, bet Francijas un Vâcijas raþoðanas apjoms vidçji pieauga attiecîgipar 0.2% un 0.7%. 2004. gadâ Itâlijas raþoðanas apjoms saruka par 0.9%, bet Fran-cijas un Vâcijas raþoðanas apjoms palielinâjâs attiecîgi par 1.9% un 3.1%. Lîdzîgisâcies arî 2005. gads, Itâlijas rûpniecîbas sektoram kavçjot visas eiro zonas rûpnie-ciskâs raþoðanas izaugsmi. Arî privâtâ pieprasîjuma kâpums eiro zonâ vçl jopro-jâm bija lçns.

Inflâcija eiro zonâ februârî un martâ bija nedaudz virs ECB mçría inflâcijas lîmeòa(2.1%). Tâs pieaugumu galvenokârt noteica augoðâs enerìijas cenas, kâ arî svaigodârzeòu un augïu cenas, ko galvenokârt skaidro ar nelabvçlîgo laika apstâkïu ie-tekmi, kâ arî ar salîdzinoði agrâm Lieldienâm.

Lai gan CAE valstu makroekonomiskâ izaugsme 1. ceturksnî palçninâjâs, tomçrkopumâ tâ saglabâjâs spçcîga. Nedaudz samazinâjâs eksporta pieauguma tempsun rûpniecîbas sektora aktivitâte. Patçriòa preèu cenu kâpums un bezdarbs kavçjaiekðzemes privâto patçriòu, tâpçc arî mazumtirdzniecîbas pieauguma temps kritâs.Lai gan tautsaimniecîbas izaugsme bija bûtiska, bezdarba lîmenis CAE valstîs bijagandrîz 2 reizes augstâks nekâ eiro zonas valstîs. Rûpnieciskâs raþoðanas kâpumsnebija saistîts ar nodarbinâtîbas pieaugumu un augstâ bezdarba lîmeòa pazeminâ-ðanos, jo raþoðanas apjoma palielinâðanâs vairâkâs rûpniecîbas nozarçs galvenokârttika panâkta, ievçrojami kâpinot produktivitâti un samazinot darbaspçka izmaksas.

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Ievieðot stingrâkus monetârâs politikas nosacîjumus, vairâkumam CAE valstu veik-smîgi izdevâs ierobeþot inflâcijas spiedienu, ko bija izraisîjusi pievienoðanâs ES,tomçr Baltijas valstîs un Slovçnijâ (valstîs, kurâs ir fiksçta valûtas kursa reþîms)joprojâm aktuâla problçma bija augstâ inflâcija.

Igaunijas IKP 1. ceturksnî pieauga par 7.2%, un to bûtiski veicinâja straujð eksportakâpums. Arî rûpnieciskâs raþoðanas apjomi turpinâja pieaugt. Visstraujâk palieli-nâjâs radio, televîzijas un sakaru iekârtu un aparatûras un elektrisko maðînu unaparâtu raþoðana, kas arî bija Igaunijas nozîmîgâkâs eksporta preèu grupas. Bûv-niecîbas materiâlu raþoðanas apjoma palielinâðanos veicinâja bûvniecîbas sektorastraujâ attîstîba. Ievçrojami kritâs tekstilizstrâdâjumu raþoðanas apjoms un (jan-vâra vçtras ietekmç) arî koksnes raþoðana.

Lietuvas IKP 1. ceturksnî palielinâjâs par 5.7%. Naftas pârstrâdes sektors joprojâmpozitîvi ietekmçja eksporta un rûpnieciskâs raþoðanas râdîtâjus. Apstrâdes rûp-niecîbâ visstraujâk attîstîjâs eksporta preces raþojoðâs nozares (pârtikas produkturaþoðana un íîmisko vielu un to izstrâdâjumu raþoðana).

Krievijas IKP 1. ceturksnî salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu pie-auga par 4.9%. Krievijas tautsaimniecîbas attîstîbu joprojâm nodroðinâja eksportakâpums, augot naftas cenâm pasaules tirgû. 1. ceturksnî naftas eksports palielinâjâspar 12.8%, bet naftas un dabasgâzes kondensâta ieguve Krievijâ – tikai par 3.5%.Pçc 2003. gada straujâ kâpuma 2004. gadâ sâkâs ieguldîjumu pieauguma tempakritums, kas turpinâjâs arî 2005. gada pirmajos mçneðos. Naftas koncerna Jukosproblçmas radîja baþas par îpaðuma tiesîbu ievçroðanu Krievijâ, kas arî negatîviietekmçja ieguldîjumu politiku. Ieguldîjumi Krievijas naftas rûpniecîbâ lîdz ðimgalvenokârt veikti viegli apgûstamâs naftas atradnçs, bet no lieliem infrastruktûrasprojektiem ieguldîtâji ir vairîjuðies. Liela raþoðanas apjoma nodroðinâðana prasajaunu naftas atradòu apgûðanu Sibîrijâ. Joprojâm saglabâjâs augsta inflâcija – patçriòacenu gada pieaugums martâ sasniedza 13.3%. Augstâs inflâcijas dçï kritâs reâlâsalgas pieauguma temps. Bezdarba lîmenis turpinâja samazinâties. Gaidâms, kaKrievijas tautsaimniecîbas attîstîbas temps turpinâs palçninâties, un Krievijas valdîbaprognozç, ka IKP pieaugums 2005. gadâ bûs 6.0% (2004. gadâ – 7.1%).

ÂRÇJÂ SEKTORA ATTÎSTÎBA

Ârçjâ tirdzniecîba un konkurçtspçja

2005. gada sâkumâ turpinâjâs iepriekðçjâ gada otrajâ pusç sâkusies straujâ ârçjâstirdzniecîbas attîstîba, par ko îpaði liecinâja eksporta straujâ izaugsme. To noteicaaugstâ ekonomiskâ aktivitâte iekðzemç un augoðais pieprasîjums ârvalstîs, jo 1. ce-turksnî Eiropas valstîs bija vçrojama ekonomiskâs aktivitâtes paaugstinâðanâs. Sa-lîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu Latvijas preèu eksports palie-linâjâs par 37.4%, bet imports – par 25.8%. Importa pârsvars pâr eksportu saruka(eksporta un importa gada kâpuma tempu sk. 3. att.).

Latvijas preèu eksportâ 1. ceturksnî dominçja koks un koka izstrâdâjumi, parastiemetâli un parasto metâlu izstrâdâjumi, minerâlprodukti, tekstilmateriâli un tekstil-izstrâdâjumi, lauksaimniecîbas un pârtikas preces, bet ðajâs preèu grupâs salîdzi-nâjumâ ar iepriekðçjo gadu notika bûtiskas strukturâlas pârmaiòas. Koka un kokaizstrâdâjumu îpatsvars salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu kritâslîdz 25.8% (iepriekðçjâ gada 1. ceturksnî – 35.9%), ðîs preèu grupas izstrâdâjumueksportam janvâra vçtras postîjumu un siltâs ziemas ietekmç saglabâjoties iepriek-ðçjâ gada atbilstoðâ perioda lîmenî. Koka un koka izstrâdâjumu un tekstilmateriâluun tekstilizstrâdâjumu eksports reâlajâ izteiksmç saruka, lai gan eksporta fiziskâ

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apjoma kâpums 1. ceturksnî bija straujâks nekâ cenu pieaugums. Eksporta palie-linâðanos nodroðinâja minerâlprodukti, parastie metâli un parasto metâlu izstrâ-dâjumi, lauksaimniecîbas un pârtikas preces, mehânismi un mehâniskas ierîces,elektroiekârtas. Lai gan gandrîz visu nozîmîgâko eksporta preèu cenu kâpumsbija bûtisks, minerâlproduktu, parasto metâlu un parasto metâlu izstrâdâjumu,lauksaimniecîbas un pârtikas preèu, mehânismu un mehânisku ierîèu, elektroie-kârtu un satiksmes lîdzekïu izveduma reâlais apjoms palielinâjâs straujâk.

Eksports uz ES valstîm 1. ceturksnî pieauga (par 33.8%), bet ðo valstu îpatsvarseksporta kopapjomâ nedaudz saruka. Strauji auga eksports uz NVS (Krieviju) unpârçjâm valstîm (Ðveici). ES valstu grupâ visvairâk palielinâjâs eksports uz ES10valstîm (Igauniju, Lietuvu un Poliju), bet no ES15 valstîm – uz Lielbritâniju,Spâniju, Dâniju un Vâciju. Izveduma pieaugumâ uz Ðveici un Poliju dominçja mi-nerâlprodukti, uz ES15 valstîm – parastie metâli un parasto metâlu izstrâdâjumi,uz Igauniju un Lietuvu – visas nozîmîgâkâs eksporta preces, bet visvairâk – parastiemetâli un parasto metâlu izstrâdâjumi, uz Krieviju – visas nozîmîgâkâs eksportapreces. Piecas Latvijas nozîmîgâkâs eksporta partnervalstis (Lielbritânija, Vâcija,Igaunija, Lietuva un Zviedrija) saòçma pusi no Latvijas eksporta kopapjoma. Augato valstu skaits, ar kurâm Latvijai bija pozitîva ârçjâs tirdzniecîbas bilance.

Tâ kâ Latvijas eksporta pieaugums nozîmîgâkajâs ES15 tirdzniecîbas partnervalstîsbija neliels, 1. ceturksnî salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu, nepa-lielinoties koksnes eksportam, Latvijas eksportçtâju tirgus daïas ðajâs valstîs sa-ruka, bet tâs pieauga kaimiòvalstu – Igaunijas un Lietuvas – tirgos, kuros savukârteksporta kâpums bija nozîmîgs. Salîdzinâjumâ ar 2004. gada 4. ceturksni tirgusdaïas pieauga visâs nozîmîgâkajâs ES tirdzniecîbas partnervalstîs. Investîciju pa-lielinâðanâs eksporta nozarçs nodroðinâja produktivitâtes kâpumu tajâs. Turpinâjapieaugt arî to preèu îpatsvars, kam bija augstâka pievienotâ vçrtîba.

Ârçjâs tirdzniecîbas nosacîjumi 1. ceturksnî uzlabojâs par 3.7%. Tas veicinâja eks-porta ienâkumu kâpumu, jo eksporta vienîbas vçrtîbas pieaugums salîdzinâjumâar iepriekðçjâ gada atbilstoðo periodu (14.2%) bija straujâks nekâ importa vienîbasvçrtîbas pieaugums (10.1%). Lai gan eksporta cenas palielinâjâs vairâk, arî eksportafiziskais apjoms auga straujâk nekâ importa fiziskais apjoms. Salîdzinâjumâ ariepriekðçjo ceturksni eksporta un importa vienîbas vçrtîbas pieaugums bija mçrens(attiecîgi 4.5% un 3.4%).

1. ceturksnî saglabâjâs lata reâlâ efektîvâ kursa indeksa (REK) lejupejoðâ tendence,kas bija vçrojama kopð 2004. gada vidus. Tas salîdzinâjumâ ar iepriekðçjâ gada4. ceturksni samazinâjâs par 1.9% un salîdzinâjumâ ar iepriekðçjâ gada atbilstoðoperiodu – par 1.5%. Tâdçjâdi saglabâjâs ârçjai tirdzniecîbai labvçlîgi konkurçtspçjasnosacîjumi. 1. ceturksnî REK saruka attiecîbâ pret visu nozîmîgâko tirdzniecîbaspartnervalstu valûtâm, t.sk. pret attîstîto partnervalstu valûtâm – par 1.0% un prettriju ES10 valstu un Krievijas valûtâm – par 3.7%. Tomçr salîdzinâjumâ ar ie-priekðçjâ gada atbilstoðo periodu REK attiecîbâ pret nozîmîgâko attîstîto tirdz-

3. attçls

EKSPORTS UN RTIMPO S(salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu; %)

EksportsImports

140 140

150 150

100 100

110 110

120 120

130 130

I II IIIVII VIII IX XIXIV VIV XII

2004 2005

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niecîbas partnervalstu valûtâm nedaudz (par 0.8%) pieauga, bet situâcija triju ES10valstu un Krievijas tirgos bija pretçja: REK attiecîbâ pret ðo valstu valûtâm sama-zinâjâs par 5.9%. Lai gan pozitîvâs REK pârmaiòas noteica lata nominâlâ efektîvâkursa samazinâjums, tomçr pozitîvi vçrtçjama arî cenu lîmeòa pârmaiòu attiecîbaspret triju ES10 valstu un Krievijas valûtâm kriðanâs salîdzinâjumâ ar iepriekðçjoceturksni (par 0.2%). To noteica inflâcijas sarukums Latvijâ 2005. gada pirmajosmçneðos un vienlaikus tâs pieaugums Igaunijâ, Lietuvâ un Krievijâ.

Importa kâpumu 1. ceturksnî ietekmçja joprojâm augstais iekðzemes pieprasîjumsun strauji augoðais eksports. Visvairâk palielinâjâs minerâlproduktu, mehânismuun mehânisku ierîèu, elektroiekârtu, lauksaimniecîbas un pârtikas preèu un pa-rasto metâlu un parasto metâlu izstrâdâjumu imports. 1. ceturksnî turpinâjâs kokaun koka izstrâdâjumu un plastmasu un to izstrâdâjumu importa kâpums. Arî im-porta fiziskais apjoms auga straujâk nekâ tâ cenas. Mehânismu un mehâniskuierîèu, elektroiekârtu importa kâpumu noteica fiziskâ apjoma pieaugums, parastometâlu un parasto metâlu izstrâdâjumu importa pieaugumu – cenu kâpums, savu-kârt minerâlo produktu, lauksaimniecîbas un pârtikas preèu un plastmasu un toizstrâdâjumu ieveduma kâpumu ietekmçja abi faktori.

Latvijas nozîmîgâkâs partnervalstis importâ bija Vâcija, Lietuva, Krievija, Igaunija,Baltkrievija un Polija. No ðîm valstîm tika ievests nedaudz vairâk par pusi no im-porta kopapjoma. Lielâkais importa pieaugums bija no Lietuvas, Krievijas, Balt-krievijas, Polijas un Igaunijas. Ieveduma kâpumâ no Igaunijas un Polijas bija da-þâdas nozîmîgas importa preces, bet importa pieaugumâ no Krievijas, Lietuvasun Baltkrievijas noteicoðie bija minerâlprodukti.

Maksâjumu bilance

Maksâjumu bilances tekoðâ konta negatîvais saldo 1. ceturksnî bija 198.0 milj.latu jeb 10.7% no IKP (2004. gada atbilstoðajâ periodâ – 151.8 milj. latu jeb 9.5%).1. ceturksnî salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu samazinâjâs preèunegatîvâ saldo attiecîba pret IKP. Tekoðâ konta negatîvâ saldo pieaugumu noteicatas, ka pakalpojumu un kârtçjo pârvedumu pozitîvâ saldo attiecîba pret IKP sa-mazinâjâs un mazliet palielinâjâs ienâkumu negatîvâ saldo attiecîba pret IKP.

Pakalpojumu pozitîvais saldo 1. ceturksnî salîdzinâjumâ ar iepriekðçjâ gadaatbilstoðo periodu mazliet saruka, jo saòemto pakalpojumu pieauguma temps(45.8%) bija straujâks nekâ sniegto pakalpojumu kâpuma temps (24.6%). Pârva-dâjumu pakalpojumu pozitîvâ saldo palielinâðanâs (par 15.2 milj. latu; galvenokârtjûras transporta pârvadâjumos) nesedza braucienu negatîvâ saldo kâpumu(18.8 milj. latu) un citu pakalpojumu pozitîvâ saldo nelielo sarukumu. Saskaòâ arLatvijas Republikas Centrâlâs statistikas pârvaldes datiem braucienu negatîvaissaldo palielinâjâs, ievçrojami augot Latvijas ceïotâju izdevumiem ârvalstîs. No2.6 lîdz 3.3 diennaktîm palielinâjâs arî Latvijas ceïotâju vidçjais ceïojumu ilgums,bet ârvalstu ceïotâjiem Latvijâ tas nemainîjâs. Savukârt skaita ziòâ lielâks bijaârvalstu ceïotâju skaita pieaugums.

Ienâkumu negatîvais saldo 1. ceturksnî salîdzinâjumâ ar iepriekðçjâ gada atbilstoðoperiodu palielinâjâs par 8.2 milj. latu, jo nerezidentu Latvijâ gûto ienâkumu apjomspieauga vairâk nekâ rezidentu ârvalstîs gûto ienâkumu apjoms. Nerezidentu Latvijâgûto ienâkumu apjoma kâpumâ dominçja tieðo investîciju ienâkumi (28.1 milj.latu; reinvestçtâs peïòas veidâ), bet mazâkâ apjomâ palielinâjâs arî portfeïiegul-dîjumu un citu ieguldîjumu ienâkumi. Savukârt rezidentu ârvalstîs gûto ienâkumuapjoms pieauga gan ieguldîjumu ienâkumu, gan atlîdzîbas nodarbinâtajiem veidâ.Ieguldîjumu ienâkumu apjoma kâpumu noteica banku procentu ienâkumi.

Kârtçjo pârvedumu pozitîvais saldo salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo

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periodu saruka par 9.8 milj. latu, jo 1. ceturksnî valdîba veica iemaksas ES budþetâ(28.5 milj. latu). Arî saòemto kârtçjo pârvedumu pieaugumu noteica valdîbas sek-tors (saòemtie ES fondu lîdzekïi).

Kapitâla un finanðu konta pozitîvais saldo bija 172.3 milj. latu.

Bûtiski palielinoties ârvalstu tieðo investîciju apjomam, to pozitîvais saldo 1. ce-turksnî sedza 52.1% no tekoðâ konta negatîvâ saldo un sasniedza 5.6% no IKP.Ârvalstu tieðâs investîcijas Latvijâ (116.8 milj. latu) ieplûda galvenokârt elektro-enerìijas, gâzes un ûdens apgâdes nozarç, finanðu starpniecîbâ, vairumtirdznie-cîbâ un mazumtirdzniecîbâ, apstrâdes rûpniecîbâ un transporta, glabâðanas unsakaru nozarç reinvestçtâs peïòas un paðu kapitâla veidâ.

Portfeïieguldîjumu saldo bija negatîvs (37.8 milj. latu), un to noteica rezidentu(banku) ieguldîjumu palielinâjums parâda vçrtspapîros.

Tekoðâ konta negatîvâ saldo segumâ saglabâjâs lîdzðinçjâ tendence – finansçjumâdominçja ilgtermiòa kapitâls. Daïu tekoðâ konta negatîvâ saldo 1. ceturksnî sedzaarî citu ieguldîjumu pozitîvais saldo (149.0 milj. latu). Rezidentu citu ieguldîjumuapjoms ârvalstîs bija neliels. Banku pieprasîjuma noguldîjumu apjoms ârvalstîs pie-auga, vienlaikus sarûkot nerezidentiem izsniegto îstermiòa aizdevumu apjomamun pieaugot citu sektoru izsniegto îstermiòa tirdzniecîbas kredîtu apjomam. Saistîbaspret nerezidentiem palielinâjâs, galvenokârt bankâm piesaistot nerezidentuilgtermiòa aizòçmumus (no mâtesbankâm), kâ arî pieprasîjuma noguldîjumus.

Rezerves aktîvi 1. ceturksnî palielinâjâs par 75.2 milj. latu, un to noteica LatvijasBankas veiktie tagadnes darîjumi valûtas tirgû.

IEKÐZEMES EKONOMISKÂ AKTIVITÂTE

Kopçjais pieprasîjums

Iekðzemes pieprasîjuma kâpumu (9.7%) un IKP izaugsmi 2004. gada 4. ceturksnînoteica noturîgais privâtais patçriòð un straujais ieguldîjumu pieaugums. To veici-nâja ârvalstu ieguldîjumu palielinâðanâs un kreditçðanas attîstîba.

Privâtâ patçriòa reâlais gada pieaugums bija 8.4%. To nodroðinâja izmantojamoieòçmumu un nodarbinâto skaita palielinâðanâs un kreditçðanas attîstîba. Patçriòapieaugumu stimulçja arî privâto investîciju kâpums, kas veicinâja pieprasîjumupçc mâjokïa iekârtoðanai nepiecieðamâm precçm. Valdîbas patçriòð 4. ceturksnîpalielinâjâs nedaudz (par 2.0%).

Kopçjâ kapitâla veidoðana 4. ceturksnî pieauga par 2.4 procentu punktiem (lîdz32.0% no IKP), uzkrâjumiem palielinoties straujâk (par 4.0 procentu punktiem),bet tekoðâ konta negatîvais saldo samazinâjâs par 1.6 procentu punktiem.

Straujo ieguldîjumu pamatlîdzekïos kâpumu (16.1%) veicinâja kreditçðanas attîs-tîba un Latvijas ES valsts statuss, kas stimulçja ârvalstu ieguldîjumus Latvijâ. Ap-joma ziòâ lielâkie ieguldîjumi jau tradicionâli tika veikti pakalpojumu sektorâ (îpaðitransportâ, glabâðanâ un sakaros un tirdzniecîbâ), bet straujâk ieguldîjumi pieaugapreces raþojoðajâs nozarçs. Preèu sektorâ lielâkie ieguldîjumi tika veikti apstrâdesrûpniecîbâ un elektroenerìijâ, gâzes un ûdens apgâdç.

Palielinoties pieprasîjumam ârçjos tirgos, samazinâjâs neto eksporta negatîvâ ie-tekme uz IKP pieaugumu. Preèu un pakalpojumu eksports palielinâjâs par 12.2%,bet, straujâk attîstoties eksportam, bija vçrojams arî importa kâpums (par 13.3%)sakarâ ar nozîmîgo starppatçriòa preèu importu eksporta produkcijas raþoðanai.

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Kopçjais piedâvâjums

Latvijas tautsaimniecîbas izaugsme 2005. gada 1. ceturksnî bija nedaudz lçnâkanekâ 2004. gada ceturkðòos – IKP salîdzinâjumâ ar iepriekðçjâ gada atbilstoðoperiodu palielinâjâs par 7.4% un faktiskajâs cenâs sasniedza 1 843.3 milj. latu.Izaugsmi veicinâja galvenokârt pakalpojumu sektors, kurâ pievienotâs vçrtîbasreâlais pieaugums sasniedza 8.8%. Preèu sektora attîstîba bija lçnâka (3.4%), kautarî bûtiski palielinâjâs ieguves rûpniecîbas un karjeru izstrâdes (23.6%) un bûv-niecîbas (16.2%) izaugsme. Savukârt elektroenerìijâ, gâzes un ûdens apgâdç unapstrâdes rûpniecîbâ kopçjâ pievienotâ vçrtîba nedaudz (attiecîgi par 0.2% un0.1%) samazinâjâs.

1. ceturksnî, krîtoties raþoðanas apjomam vairâkâs nozîmîgâkajâs rûpniecîbas no-zarçs, apstrâdes rûpniecîbas reâlais produkcijas raþoðanas apjoma pieaugums sa-lîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu bija samçrâ neliels (0.9%).Daþâdu apstrâdes rûpniecîbas nozaru attîstîba bija ïoti atðíirîga. Vairâkâs nozarçsraþoðana turpinâja strauji paplaðinâties. Fiziskâ apjoma indekss salîdzinâjumâ ariepriekðçjâ gada atbilstoðo periodu palielinâjâs nemetâlisko minerâlu izstrâdâjumuraþoðanâ (par 19.7%), gumijas un plastmasas izstrâdâjumu raþoðanâ (par 12.4%),íîmisko vielu, to izstrâdâjumu un íîmisko ðíiedru raþoðanâ (par 11.5%) un citâsnozarçs. Savukârt bûtisku raþoðanas apjoma samazinâjumu koksnes, koka un koríaizstrâdâjumu raþoðanâ (izòemot mçbeles; 6.3%) noteica lielie vçtras postîjumijanvârî. Ievçrojot ïoti straujo metâlu raþoðanas apjoma pieaugumu 2004. gada 1. ce-turksnî, fiziskâ apjoma indekss metâlu raþoðanâ pârskata periodâ samazinâjâs par15.5%. Nozîmîgs raþoðanas apjoma kritums bija vçrojams arî elektrisko maðînuun aparâtu raþoðanâ (17.6%), kâ arî radio, televîzijas un sakaru iekârtu un apara-tûras raþoðanâ (10.1%).

Ïoti strauji (par 31.0%) palielinâjâs raþoðana ieguves rûpniecîbâ un karjeru iz-strâdç, bet salîdzinoði siltâs ziemas dçï gandrîz nemainîjâs elektroenerìijas, gâzesun ûdens apgâdes raþoðanas apjoms. Tâdçjâdi rûpniecîbas produkcijas kopçjaissezonâli izlîdzinâtais fiziskâ apjoma indekss 1. ceturksnî salîdzinâjumâ ar iepriek-ðçjâ gada atbilstoðo periodu pieauga par 1.1%.

Pakalpojumu sektorâ veiksmîgi turpinâja attîstîties tirdzniecîba un transports, gla-bâðana un sakari (pieaugums – attiecîgi 15.7% un 11.1%), kâ arî finanðu starpnie-cîba (6.4%) un operâcijas ar nekustamo îpaðumu, noma un cita komercdarbîba(5.1%).

Attîstoties tranzîtam, 1. ceturksnî pa dzelzceïu pârvadâto tranzîtkravu apjoms salî-dzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu pieauga par 7.5%, kas arî noteicakopçjâ pa dzelzceïu pârvadâto kravu apjoma izaugsmi par 6.6%. Galvenâs tranzît-kravas – naftas produktu – pârvadâjumu apjoms salîdzinâjumâ ar iepriekðçjâ gadaatbilstoðo periodu samazinâjâs par 4.2%. Kopçjo izaugsmi galvenokârt veidojatransportçto akmeòogïu un minerâlmçslu, kâ arî melno metâlu un kokmateriâluapjoma pieaugums.

Lai gan bâzes lîmenis bija augsts, pa cauruïvadu transportçtais naftas produktuapjoms 1. ceturksnî palielinâjâs par 2.9%.

Samçrâ neliels bija arî kravu apgrozîjuma kâpums lielâkajâs ostâs (Ventspils ostâ –2.0% un Rîgas ostâ – 2.8%). Savukârt Liepâjas ostâ un arî mazajâs ostâs pârstrâdâtokravu apjoms samazinâjâs, un visu Latvijas ostu kopçjais apgrozîjums salîdzinâjumâar iepriekðçjâ gada atbilstoðo periodu nemainîjâs.

Mazumtirdzniecîbas (t.sk. automobiïu tirdzniecîbas un autodegvielas mazumtirdz-niecîbas) apgrozîjums 1. ceturksnî palielinâjâs par 21.0%. Pârdoðanas apjoma kâ-

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pums bija vçrojams gandrîz visâs preèu grupâs (sk. 4. att.), arî tajâs, kuras bûtiskikâpinâja pieauguma tempu jau 2004. gadâ. Nozîmîgâko ieguldîjumu mazumtirdz-niecîbas apgrozîjuma pieaugumâ deva autodegvielas pârdoðanas apjoma kâpumsun iegâdâto automobiïu skaita strauja palielinâðanâs. Citâs preèu grupâs pârdoða-nas apjoma kâpumu noteica piedâvâjuma paplaðinâðanâs, ko veicinâja jaunu vei-kalu atvçrðana Latvijas tirgû un jau esoðâ tirdzniecîbas tîkla attîstîba, kâ arî pie-prasîjuma palielinâðanâs mâjokïa un komerctelpu iekârtoðanai nepiecieðamo preèunodroðinâðanai. Sabiedriskâs çdinâðanas apgrozîjums 1. ceturksnî salîdzinâjumâar 2004. gada atbilstoðo periodu pieauga îpaði strauji (par 44.6%).

Tautsaimniecîbas izaugsmi Latvijâ lielâkoties nodroðinâja nefinanðu investîcijas,kuru apjoms 1. ceturksnî faktiskajâs cenâs sasniedza 270.6 milj. latu (par 39.1 milj.latu vairâk nekâ iepriekðçjâ gada atbilstoðajâ periodâ), t.sk. apstrâdes rûpniecîbâtika ieguldîti 59.5 milj. latu, transportâ, glabâðanâ un sakaros – 53.1 milj. latu untirdzniecîbâ – 33.7 milj. latu.

Nodarbinâtîba un darba samaksa

Pieaugot IKP, 1. ceturksnî uzlabojâs arî darba tirgus râdîtâji – nozîmîgi palielinâjâsnodarbinâtîba un samazinâjâs darba meklçtâju îpatsvars. Salîdzinâjumâ ar iepriek-ðçjâ gada 1. ceturksni nodarbinâto skaits palielinâjâs par 13.0 tûkst. jeb 1.3% unsasniedza 1 015.4 tûkst., bet darba meklçtâju îpatsvars saruka par 0.6 procentupunktiem (to skaitam samazinoties par 17.9 tûkst. cilvçku) un bija 9.9% no eko-nomiski aktîvo iedzîvotâju skaita. Darba meklçtâju îpatsvara samazinâjumu noteicapieaugoðâ nodarbinâtîba, tomçr to veicinâja arî iedzîvotâju ekonomiskâs aktivitâteslîmeòa pazeminâðanâs salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu (no62.4% lîdz 62.2%) un darbspçjas vecuma iedzîvotâju skaita sarukums.

Reìistrçtâ bezdarba lîmenis 1. ceturksnî salîdzinâjumâ ar iepriekðçjo ceturksninedaudz palielinâjâs. To noteica sezonâlo faktoru ietekme. 1. ceturksnî reìistrçtâbezdarba vidçjais lîmenis bija 8.6% no ekonomiski aktîvo iedzîvotâju skaita(2004. gada 4. ceturksnî – 8.5%), bet reìistrçto bezdarbnieku skaits – 92.3 tûkst.(4. ceturksnî – 90.9 tûkst.). Tomçr salîdzinâjumâ ar 2004. gada 1. ceturksni bezdarbalîmenis samazinâjâs par 0.4 procentu punktiem, jo pçc Latvijas pievienoðanâs ESradâs iespçja strâdât citâs ES valstîs. Bezdarba lîmenis saruka Jûrmalâ, Daugavpilîun Liepâjâ. Joprojâm augstâkais bezdarba lîmenis bija Latgalç. Ludzas rajonâ taspieauga par 0.6 procentu punktiem, sasniedzot 28.0%, un Rçzeknes rajonâ – par0.1 procentu punktu (lîdz 26.3%). Salîdzinâjumâ ar iepriekðçjâ gada atbilstoðoperiodu ievçrojami pieauga reìistrçto vakanèu skaits, kas noteica darba tirgus no-slodzes koeficienta kritumu no 27.9 lîdz 17.8.

1. ceturksnî strâdâjoðo darba samaksas pieauguma temps palielinâjâs. Salîdzinâ-jumâ ar iepriekðçjâ gada atbilstoðo periodu nominâlâ bruto darba samaksa taut-saimniecîbâ palielinâjâs par 16.2% (lîdz Ls 226.41), bet nominâlâs neto darba sa-

4. attçls

MAZUMTIRDZNIECÎBAS APGROZÎJUMS(gada ieguldîjums reâlâ mazumtirdzniecîbas apgrozîjumapieaugumâ; procentu punktos)

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Automobiïi, motocikli un to detaïasAutodegvielaPârtika, dzçrieni un tabakaTekstilizstrâdâjumi, apìçrbi un apaviMçbeles, mâjsaimniecîbas precesGrâmatas, laikraksti, rakstâmlietas un pârçjâs precesPârçjâ mazumtirdzniecîba

III IV V VI X XI XII IIIVII IXVIII III

2004 2005

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maksas kâpums sasniedza 16.8%. Neto darba samaksas pieaugums bija lielâksnekâ bruto algas pieaugums, jo no 2005. gada 1. janvâra tika palielinâts ar iedzîvo-tâju ienâkuma nodokli neapliekamais minimums un iedzîvotâju ienâkuma nodokïaatvieglojums par apgâdîbâ esoðu personu. Darba samaksas palielinâðanos noteicabruto algu kâpums sabiedriskajâ sektorâ (par 18.4%; lîdz Ls 255.34) un privâtajâsektorâ (par 14.7%; lîdz Ls 209.40). Òemot vçrâ patçriòa cenu palielinâðanos 1. ce-turksnî (6.7%), reâlâ bruto darba samaksa tautsaimniecîbâ salîdzinâjumâ ar iepriek-ðçjâ gada atbilstoðo periodu pieauga par 8.9% (t.sk. sabiedriskajâ sektorâ – par11.0% un privâtajâ sektorâ – par 7.5%), tomçr salîdzinâjumâ ar iepriekðçjo ce-turksni tâ samazinâjâs par 1.5%.

CENU DINAMIKA

Patçriòa cenas Latvijâ 1. ceturksnî vidçji bija par 6.7% augstâkas nekâ iepriekðçjâgada atbilstoðajâ periodâ (iepriekðçjâ ceturksnî ðis râdîtâjs sasniedza 7.3%; PCIatseviðíu komponentu pârmaiòas sk. 5. att.). Salîdzinâjumâ ar iepriekðçjo ceturksnipatçriòa cenas pieauga par 1.7% – straujâk nekâ iepriekðçjâ ceturksnî, taèu lçnâknekâ iepriekðçjâ gada atbilstoðajâ periodâ.

Salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu visstraujâk palielinâjâs deg-vielas (par 24.7%), daþu pârtikas preèu (zivju, gaïas, piena produktu), tûrisma,sabiedriskâs çdinâðanas un transporta pakalpojumu cenas. Turpinâja samazinâtiessakaru pakalpojumu cenas (salîdzinâjumâ ar iepriekðçjo ceturksni – par 0.4% unsalîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu – par 1.2%). Apìçrba un apavucenas salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu bûtiski nemainîjâs, betsalîdzinâjumâ ar iepriekðçjo ceturksni kritâs par 7.3%. Regulçjamo cenu ietekmesalîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu jûtami samazinâjâs, jo nozî-mîgâkajâs patçriòa grupâs 2005. gada pirmajos mçneðos netika veiktas bûtiskasregulçjamo cenu pârmaiòas. Tâdçjâdi regulçjamo cenu ietekme uz kopçjo inflâciju1. ceturksnî nepârsniedza 0.4 procentu punktus.

Pieprasîjuma puses faktoru ietekme uz inflâciju stabilizçjâs. Par to liecinâja pa-matinflâcijas samazinâjums no 7.2% 2004. gada 4. ceturksnî lîdz 5.9% 2005. gada1. ceturksnî (martâ gada pamatinflâcija bija 5.4%). Turklât ðâds pamatinfâcijasrâdîtâjs daïçji ietver arî daþus piedâvâjuma puses faktorus – izmaksu pieaugumanetieðo ietekmi, piemçram, no apstrâdâtâs pârtikas cenâm (to pieaugums salîdzi-nâjumâ ar iepriekðçjâ gada atbilstoðo periodu saglabâjâs augsts – vairâk nekâ 8%).

Raþotâju cenas 1. ceturksnî ieguves rûpniecîbâ un karjeru izstrâdç un apstrâdesrûpniecîbâ palielinâjâs (attiecîgi par 3.7% un 2.7%), bet elektroenerìijâ, gâzes unûdens apgâdç nemainîjâs. Tâdçjâdi kopçjais cenu lîmenis rûpniecîbâ palielinâjâspar 2.3%. Savukârt raþotâju cenas salîdzinâjumâ ar iepriekðçjâ gada atbilstoðoperiodu pieauga par 10.5%. To galvenokârt noteica straujð cenu kâpums apstrâdesrûpniecîbâ (12.1%). 1. ceturksnî visstraujâk (par 4.1%) palielinâjâs raþoðanas lî-

5. attçls

PATÇRIÒA CENU GADA INFLÂCIJASPÂRMAIÒAS( ;pa komponentiem procentu punktos)

Patçriòa cenu gada pamatinflâcijaDegvielas cenasAdministratîvi regulçjamâs cenasNeapstrâdâtâs pârtikas cenas

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dzekïu raþoðanas cenas, bet salîdzinâjumâ ar iepriekðçjâ gada 1. ceturksni – raþo-ðanas lîdzekïu (16.4%) un starppatçriòa preèu (15.1%) raþoðanas cenas.

Lîdzîga bija arî bûvniecîbas izmaksu kâpuma dinamika. Salîdzinâjumâ ar iepriek-ðçjo ceturksni tâs palielinâjâs par 2.6%, sadârdzinoties bûvmateriâliem un maðînuun mehânismu uzturçðanas izmaksâm un sarûkot strâdâjoðo darba samaksai. Salî-dzinâjumâ ar iepriekðçjâ gada 1. ceturksni bûvniecîbas izmaksas pieauga par 10.8%,t.sk. maðînu un mehânismu uzturçðanas izmaksas – par 15.6%, bûvmateriâlu iz-maksas – par 11.0% un strâdâjoðo darba samaksa – par 9.4%.

FISKÂLAIS SEKTORS

1. ceturksnî valsts konsolidçtâ kopbudþeta finansiâlais pârpalikums bija 43.0 milj.latu jeb 2.3% no IKP, nedaudz pârsniedzot iepriekðçjâ gada atbilstoðâ periodarâdîtâju (sk. 6. att.). Ieòçmumu pieaugums bija saistîts ar salîdzinoði lielu ârvalstufinanðu palîdzîbas apjomu, ko pamatâ noteica ES fondu lîdzekïu ieplûde, un straujunodokïu ieòçmumu pieaugumu. Izdevumu palielinâðanos galvenokârt noteica ESfondu apguve, pedagogu algu paaugstinâðana, kârtçjâ pensiju indeksâcija, bçrnukopðanas pabalstu palielinâðana un citi valdîbas îstenotie pasâkumi.

Valsts konsolidçtâ kopbudþeta ieòçmumi 1. ceturksnî salîdzinâjumâ ar iepriekðçjâgada atbilstoðo periodu palielinâjâs par 181.8 milj. latu jeb 33.2%. Budþeta ieòç-mumi sasniedza 39.6% no IKP (par 5.4 procentu punktiem vairâk nekâ iepriekðç-jâ gada atbilstoðajâ periodâ).

Nodokïu ieòçmumi 1. ceturksnî salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo peri-odu pieauga par 20.5%, un to attiecîba pret IKP palielinâjâs par 1.4 procentupunktiem. Strauji auga gan tieðo, gan netieðo nodokïu ieòçmumi. No tieðajiemnodokïiem gan procentos salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu,gan attiecîbâ pret IKP visstraujâk palielinâjâs uzòçmumu ienâkuma nodokïa ie-òçmumi. To veicinâja uzòçmumu peïòas straujð pieaugums. Lai gan ar 2005. gadajanvâri tika paaugstinâts ar iedzîvotâju ienâkuma nodokli neapliekamais minimums(no 21 lata lîdz 26 latiem) un nodokïa atvieglojums par apgâdîbâ esoðu personu(no 10.50 latiem lîdz 18 latiem), saglabâjâs augsts arî iedzîvotâju ienâkuma nodokïaieòçmumu pieauguma temps.

Netieðo nodokïu ieòçmumi pieauga straujâk nekâ tieðo nodokïu ieòçmumi. Pa-augstinoties naftas produktu un tabakas izstrâdâjumu akcîzes nodokïa likmçm,bûtiski palielinâjâs akcîzes nodokïa ieòçmumi. Strauji pieauga arî pievienotâs vçr-tîbas nodokïa ieòçmumi. Latvijâ kâ ES valstî kopð iepriekðçjâ gada maija nav jâ-maksâ muitas nodoklis par precçm, kas tiek pârvadâtas ES. Savukârt precçm, kastiek importçtas no valstîm, kuras nav ES valstis, tiek piemçroti ES noteiktie muitastarifi. Ðo abu faktoru ietekmç salîdzinâjumâ ar iepriekðçjâ gada 1. ceturksni sa-mazinâjâs muitas nodokïa ieòçmumi.

6. attçls

VALSTS KONSOLIDÇTÂ KOPBUDÞETABILANCEFINANSIĀLĀ

(perioda beig ; milj. latu)âs

2. cet. 3. cet. 4. cet.1. cet. 2. cet. 3. cet.

2005

1. cet. 4. cet. 1. cet.

2003 2004

Ceturkšòa bilanceN â uzkrâtâo gada s kuma bilance

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Valsts konsolidçtâ kopbudþeta izdevumi 1. ceturksnî salîdzinâjumâ ar iepriekðçjâgada atbilstoðo periodu pieauga par 173.2 milj. latu jeb 33.7% un to attiecîba pretIKP – par 5.2 procentu punktiem (lîdz 37.2%). Izdevumu straujo kâpumu galve-nokârt ietekmçja ES fondu apgûðana. Turklât ievçrojami pieauga atalgojums (viensno iemesliem bija pedagogu algu palielinâðana iepriekðçjâ gada septembrî) undotâcijas iedzîvotâjiem, ko galvenokârt noteica oktobrî veiktâ pensiju indeksâcijaun bçrnu kopðanas pabalsta palielinâðana, sâkot ar 2005. gada janvâri.

Valsts konsolidçtajâ budþetâ 1. ceturksnî bija finansiâlais pârpalikums (20.6 milj.latu). Salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu ieòçmumu kâpums(32.2%) bija nedaudz mazâks nekâ kopçjo izdevumu pieaugums (33.4%). Ieòç-mumu attiecîba pret IKP palielinâjâs par 4.1 procentu punktu, savukârt kopçjoizdevumu attiecîba pret IKP – par 4.2 procentu punktiem.

Valsts sociâlâs apdroðinâðanas budþetâ 1. ceturksnî izveidojâs finansiâlais pârpali-kums (11.6 milj. latu). Ieòçmumi salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo pe-riodu palielinâjâs par 14.0% (to attiecîba pret IKP samazinâjâs par 0.1 procentupunktu), savukârt izdevumi pieauga par 19.1%. Tomçr tâpçc, ka 1. ceturksnî nopamatbudþetâ 2005. gadâ plânotâs 21.9 milj. latu aizòçmuma atmaksas summasjau tika atmaksâti 20.0 milj. latu (iepriekðçjâ gada 1. ceturksnî no pamatbudþetâgadâ plânotajiem 23.7 milj. latu tika atmaksâti tikai 3.0 milj. latu), kopçjie so-ciâlâs apdroðinâðanas budþeta izdevumi pieauga par 31.2% (to attiecîba pret IKPpalielinâjâs par 1.2 procentu punktiem) un tajâ izveidojâs 8.4 milj. latu finansiâlaisdeficîts.

Paðvaldîbu konsolidçtajâ budþetâ 1. ceturksnî bija fiskâlais pârpalikums (26.4 milj.latu). Salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu ieòçmumi palielinâjâspar 33.9% un to attiecîba pret IKP – par 1.6 procentu punktiem, bet izdevumipieauga par 28.6%, to attiecîbai pret IKP palielinoties par 1.0 procentu punktu.

1. ceturkðòa beigâs valsts un paðvaldîbu kopçjais parâds bija 1 039.4 milj. latu(ceturkðòa laikâ tas samazinâjâs par 22.3 milj. latu). Valdîbas ârçjais parâds sarukapar 3.9 milj. latu, bet iekðçjais parâds – par 17.9 milj. latu. Ârçjo parâdu samazi-nâja martâ atmaksâtais Japânas Eksporta un importa bankas aizdevums, savukârtiekðçjo parâdu – martâ dzçstâs valsts iekðçjâ aizòçmuma vidçjâ termiòa obligâ-cijas.

MONETÂRÂ UN FINANÐU ATTÎSTÎBA

Banku likviditâte un Latvijas Bankas operâcijas

Lata piesaiste eiro nostiprinâja tirgus dalîbnieku pârliecîbu par to, ka Latvijâ tiksieviests eiro, un tâdçjâdi mazinâja latu riska prçmiju. Tomçr, ar 2005. gada 1. janvârimainot lata piesaisti no SDR valûtu groza uz eiro, samazinâjâs Latvijas Bankasmonetârâs politikas iespçjas noteikt latos veikto îstermiòa darîjumu procentu lik-mju atðíirîgu lîmeni no lata piesaistes valûtâ veikto îstermiòa darîjumu procentulikmçm, galvenokârt tâpçc, ka arbitrâþas darîjumi valûtu pârî "lati – piesaistesvalûta" kïuva vienkârðâki un samazinâjâs to izmaksas.

ECB bâzes likme 2004. gada beigâs un 2005. gada 1. ceturksnî bija zemâka nekâSDR valûtu groza bâzes likme, tâpçc, nemainoties Latvijas Bankas noteiktajairefinansçðanas likmei, lata piesaistes eiro rezultâtâ palielinâjâs lata procentu likmjupârsvars pâr piesaistes valûtas bâzes likmi. Gan ðîs starpîbas pieaugums, gan minçtielatos un piesaistes valûtâ veikto îstermiòa darîjumu procentu likmju starpîbu ma-zinoðie faktori noteica to, ka lata piesaistes eiro rezultâtâ naudas tirgû visu termiòulatos veikto darîjumu procentu likmes samazinâjâs, îstermiòa darîjumu procentu

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1 · 2005

likmçm saglabâjoties visai svârstîgâm (galvenâs naudas tirgus procentu likmes sk.7. att.).

1. ceturksnî pastiprinâjâs ârvalstu valûtas pârdoðana Latvijas Bankai, ko bankasveica jau iepriekðçjâ gada beigâs. To noteica gan ârvalstu tieðâs investîcijas, ganlatu procentu likmju un ECB bâzes likmes starpîbas pieaugums un latu un eironaudas tirgus procentu likmju starpîbu mazinoðie faktori, gan veicinâja bankuobligâto rezervju prasîbu bâzes paplaðinâðana ar 2005. gada 24. janvâri (sk. 8. att.).1. ceturksnî tagadnes darîjumos Latvijas Bankai tika pârdoti eiro 83.9 milj. latuapjomâ. Tas bija vairâk, nekâ nepiecieðams rezervju prasîbu izpildei, un latu naudastirgû izveidojâs likviditâtes pârpalikums. Tâpçc aktivitâte Latvijas Bankas atvçrtâtirgus operâcijâs (repo un valûtas mijmaiòas darîjumos) samazinâjâs (sk. 9. att.).Lielâ eiro apjoma pârdoðana Latvijas Bankai skaidrojama arî ar latos izsniegtokredîtu plaðu aizstâðanu ar eiro izsniegtiem kredîtiem, ko nefinanðu sabiedrîbasun mâjsaimniecîbas uzsâka jau 2004. gada pçdçjos mçneðos un kas pastiprinâjâs2005. gada sâkumâ.

7. attçls

NAUDAS TIRGUS PROCENTU LIKMES(%)

Latvijas Bankas refinansçðanas likmekredîtu vidçjâ svçrtâ procentu likme

6 mçneðu valdîbas parâdzîmju vidçjâ svçrtâ peïòas likmeLatos izsniegto rezidentu starpbanku kredîtu vidçjâsvçrtâ procentu likme

Repo

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LATVIJAS BANKAS NOZÎMÎGÂKÂSINTERVENCES NAUDAS TIRGÛ(milj. latu)

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Repo

Pieprasîjums Latvijas Bankas repo izsolçs salîdzinâjumâ ar iepriekðçjo ceturksnisamazinâjâs 12 reiþu (lîdz 60.7 milj. latu), bet vidçjais repo kredîtu atlikums – lîdz10.0 milj. latu. Uz 7 dienâm izsniegto repo kredîtu vidçjâ svçrtâ procentu likme2004. gada novembrî veiktâs Latvijas Bankas refinansçðanas likmes paaugstinâðanasietekmç pieauga no 3.75% lîdz 4.00%.

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Latvijas Banka, lai kompensçtu Latvijas Bankas îpaðumâ esoðo valdîbas vçrtspapîrudzçðanu, otrreizçjâ tirgû nopirka valdîbas vçrtspapîrus 23.6 milj. latu apjomâ.

Latu likviditâtes pârpalikuma dçï banku un citu finanðu institûciju termiònoguldî-jumu vidçjais atlikums Latvijas Bankâ palielinâjâs no 1.0 milj. latu 2004. gada4. ceturksnî lîdz 21.9 milj. latu 2005. gada 1. ceturksnî. Janvârî likviditâtes pârpa-likuma raðanos papildus ârvalstu valûtas pârdoðanai izraisîja arî valdîbas latos veiktonoguldîjumu atlikuma Latvijas Bankâ straujais samazinâjums 2004. gada decembrî.

Latu naudas tirgus îstermiòa procentu likmju svârstîgumu galvenokârt noteicakopçjâs banku likviditâtes pârmaiòas, ko veicinâja rezervju prasîbu pieaugums ar2005. gada 24. janvâri obligâto rezervju bâzes palielinâðanas dçï un tam sekojusîeiro pârdoðana Latvijas Bankâ lielâkâ apjomâ nekâ banku obligâto rezervju prasîbupieaugums. Tâdçjâdi latu naudas tirgus procentu likmju indekss RIGIBORdarîjumiem uz nakti februâra sâkumâ sasniedza 4.37%, bet marta otrajâ pusç jausaruka lîdz 2.27%. Kopumâ 1. ceturkðòa beigâs latu likviditâtes pârpalikuma ap-stâkïos latu naudas tirgus îstermiòa procentu likmes tikai par daþiem bâzes pun-ktiem atðíîrâs no Latvijas Bankas no bankâm uz 14 dienâm piesaistîto termiòno-guldîjumu procentu likmes (2.25%). Naudas tirgus procentu likmes, kurâm pa-rasti tiek piesaistîtas rezidentu nefinanðu sabiedrîbâm un mâjsaimniecîbâm latosizsniegto kredîtu procentu likmes (3 un 6 mçneðu RIGIBOR), samazinâjâs attiecîgino 4.39% un 4.33% 2004. gada decembrî lîdz 3.25% un 3.38% 2005. gada martâ.

Naudas râdîtâju dinamika

Naudas bâze M0 1. ceturksnî pieauga par 40.5 milj. latu jeb 4.2% (lîdz 997.7 milj.latu). Sezonâlu faktoru ietekmç janvârî bija vçrojams skaidrâs naudas pieprasîjumakritums un skaidrâ nauda apgrozîbâ samazinâjâs par 15.1 milj. latu. Lai gan februârîtâ nedaudz pieauga, 1. ceturksnî kopumâ tâ saruka par 9.6 milj. jeb 1.3%. Savukârtpiesaistîto noguldîjumu atlikuma kâpums un banku obligâto rezervju prasîbu palie-linâðana, paplaðinot banku rezervju bâzi, noteica MFI noguldîjumu centrâlajâ ban-kâ atlikuma kâpumu (50.1 milj. latu).

Naudas bâzes palielinâðanos galvenokârt nodroðinâja ârvalstu valûtas pirkðana.Tâdçjâdi Latvijas Bankas tîrie ârçjie aktîvi palielinâjâs par 81.3 milj. latu, bet emi-tçtâs nacionâlâs valûtas segums ar centrâlâs bankas tîrajiem ârçjiem aktîviem martabeigâs sasniedza 112.3% (sk. 10. att.). Savukârt centrâlâs bankas naudas piedâvâ-jumu samazinâja repo kredîtu atlikuma kritums (4.4 milj. latu), valdîbas noguldî-jumu Latvijas Bankâ atlikuma pieaugums (32.4 milj. latu) un banku termiònogul-dîjumu centrâlajâ bankâ kâpums (30.0 milj. latu).

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EMITÇTÂS NACIONÂLÂS VALÛTAS SEGUMS(milj. latu)

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Plaðâ nauda M3 1. ceturksnî pieauga par 154.8 milj. latu – mazâk nekâ iepriekðçjâceturksnî, tomçr ievçrojami vairâk nekâ iepriekðçjâ gada atbilstoðajâ periodâ. M3gada kâpuma temps ceturkðòa laikâ bûtiski (par 2.2 procentu punktiem) pieauga,martâ sasniedzot 29.0%.

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Naudas piedâvâjumu (naudas piedâvâjuma râdîtâjus sk. 11. att.) galvenokârt ietek-mçja noguldîjumu uz nakti apjoma palielinâjums par 91.5 milj. latu, kâ arî nozîmîgsnoguldîjumu ar noteikto termiòu lîdz 2 gadiem kâpums (55.8 milj. latu). Pârskataceturksnî bija mçrens noguldîjumu ar brîdinâjuma termiòu par izòemðanu un pa-râda vçrtspapîru atlikuma kâpums, bet skaidrâ nauda apgrozîbâ (bez atlikumiemMFI kasçs) nedaudz saruka. Straujâka M1 likvîdâko sastâvdaïu pieauguma dçï tâgada kâpuma temps 1. ceturksnî palielinâjâs vairâk nekâ plaðâko naudas râdîtâjupieauguma temps (par 4.1 procentu punktiem; lîdz 29.7%).

Ârvalstu valûtâ veikto noguldîjumu gada pieauguma temps martâ (40.7%) bijapar 4.5 procentu punktiem augstâks nekâ decembrî (sk. 12. att.). Savukârt latosveikto noguldîjumu gada pieauguma temps samazinâjâs no 32.8% lîdz 30.2%.2004. gada decembra beigâs un 2005. gada marta beigâs, noguldîjumu ASV dolârosîpatsvaram sasniedzot attiecîgi 42.0% un 41.4%, noguldîjumi eiro veidoja attiecîgi55.8% un 55.9% no rezidentu ne-MFI noguldîjumu atlikuma (sk. 13. att.). Savukârtnoguldîtâju dalîjumâ praktiski vienâdi auga gan mâjsaimniecîbu noguldîjumu (par76.9 milj. latu), gan finanðu iestâþu un nefinanðu sabiedrîbu noguldîjumu (par74.5 milj. latu) atlikums. Lîdzîgi palielinâjâs gan noguldîjumu uz nakti, gan îster-miòa noguldîjumu apjoms (sk. 14. att.). Kopumâ finanðu iestâþu, nefinanðu sabied-rîbu un mâjsaimniecîbu noguldîjumu gada pieauguma temps martâ saglabâjâs de-cembra lîmenî (34.1%). Veidojoties pârpalikumam valsts budþetâ, par 20.5 milj.latu palielinâjâs valdîbas noguldîjumu atlikums MFI.

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Finanðu iestâdçm un nefinanðu sabiedrîbâm izsniegto kredîtu atlikuma pieaugums1. ceturksnî bija straujâks nekâ mâjsaimniecîbâm izsniegto kredîtu atlikuma kâpums(attiecîgi 247.9 milj. latu un 165.7 milj. latu), tâdçjâdi finanðu iestâdçm un nefinanðusabiedrîbâm izsniegto kredîtu gada kâpuma temps pieauga lîdz 38.5%, bet mâj-saimniecîbâm izsniegto kredîtu – samazinâjâs lîdz 74.0%. Kopumâ rezidentu fi-nanðu iestâdçm, nefinanðu sabiedrîbâm un mâjsaimniecîbâm izsniegto kredîtu at-

1. ceturksnî turpinâjâs MFI kredîtportfeïa, galvenokârt ilgtermiòa kredîtu (sk.15. att.), atlikuma pieaugums. To veicinâja ienâkumu izaugsme, kâ arî zemâs kredîtuprocentu likmes. 1. ceturksnî strauji pieauga hipotçku kredîta un industriâlâ kredîtaatlikums (attiecîgi par 195.7 milj. latu jeb 14.1% un 101.5 milj. latu jeb 14.1%),turklât hipotçku kredîta atlikuma pieaugums veidoja 47.4% no kopçjâ kredîtuatlikuma pieauguma. Straujo hipotçku kredîta atlikuma pieaugumu veicinâja bankucentieni piesaistît jaunus klientus (bankas piedâvâja arvien izdevîgâkus nosacîjumuskredîtam mâjokïa iegâdei vai remontam), kâ arî bûvniecîbas un nekustamâ îpaðumatirgus attîstîba. Tomçr augstâs bâzes dçï hipotçku kredîta atlikuma gada pieaugumatemps martâ samazinâjâs lîdz 76.2% (2004. gada decembrî – 80.2%). Vçl straujâk(par 242.1 milj. latu) 1. ceturksnî palielinâjâs komerckredîta atlikums, tomçr ðokâpumu daïçji noteica pârmaiòas kredîtu atlikuma statistiskâs uzskaites metodolo-ìijâ (no 2005. gada 1. janvâra klientu norçíinu kontu debeta atlikums parâdîts kâkonkrçtu kredîtu veidu atlikumi; nozîmîgâko kredîtu veidu mçneða atlikumus sk.16. att.).

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likums 1. ceturksnî palielinâjâs par 413.6 milj. latu, turklât martâ kâpums bijaîpaði liels – 178.3 milj. latu. Kredîtu atlikuma gada pieauguma temps palielinâjâsno 47.0% 2004. gada decembrî lîdz 49.5% 2005. gada martâ (sk. 17. att.).

Visu kredîtu atlikuma pieaugumu noteica ârvalstu valûtâ izsniegto kredîtu atlikumapalielinâjums (kâpums – 436.5 milj. latu), latos izsniegto kredîtu atlikumam ne-daudz samazinoties. Tâdçjâdi ârvalstu valûtâ izsniegto kredîtu atlikuma gada pie-auguma temps martâ sasniedza 74.4%, bet latos izsniegto kredîtu – samazinâjâslîdz 18.1%. Eiro îpatsvars rezidentu ne-MFI ârvalstu valûtâ izsniegto kredîtu atli-kumâ pieauga no 52.4% 2004. gada decembra beigâs lîdz 64.4% 2005. gada martabeigâs (sk. 18. att.). Eiro izsniegto kredîtu atlikums palielinâjâs galvenokârt sakarâar lata piesaisti eiro, kas noteica ar ASV dolâros izsniegtiem kredîtiem saistîtâvalûtas riska pieaugumu, kâ arî sakarâ ar eiro izsniegto kredîtu zemâku procentulikmju lîmeni.

Finanðu iestâdçm un nefinanðu sabiedrîbâm izsniegto kredîtu atlikums visstraujâkauga operâcijâs ar nekustamo îpaðumu, nomâ un citâ komercdarbîbâ (par 28.0%),ieguves rûpniecîbâ un karjeru izstrâdç (par 18.7%), bûvniecîbâ (par 16.7%) unfinanðu starpniecîbâ (par 14.4%). Gandrîz divas treðdaïas no kopçjâ kredîtu atli-kuma veidoja kredîti èetrâm nozarçm: operâcijâm ar nekustamo îpaðumu, nomaiun citai komercdarbîbai (18.8%), tirdzniecîbai (16.8%), finanðu starpniecîbai(16.4%) un apstrâdes rûpniecîbai (14.2%).

Rezidentu finanðu iestâdçm, nefinanðu sabiedrîbâm un mâjsaimniecîbâm izsniegtokredîtu atlikums marta beigâs veidoja 56.3% no IKP jeb 49.2% no MFI aktîviem(vairâk nekâ 2004. gada decembra beigâs).

Samazinoties valdîbas sektora naudas pieprasîjumam, MFI neto kredîts valdîbai1. ceturksnî saruka par 64.9 milj. latu jeb 37.4%. Joprojâm palielinâjâs ârvalstufinansçjums. MFI tîro ârçjo aktîvu negatîvais râdîtâjs palielinâjâs par 166.6 milj.latu, t.sk. MFI (izòemot Latvijas Banku) tîro ârçjo aktîvu negatîvais râdîtâjs – par247.9 milj. latu, jo kredîtiestâdes ârvalstîs piesaistîja vairâk lîdzekïu, nekâ tur iz-vietoja. MFI (izòemot Latvijas Banku) ârçjo pasîvu kâpumu ietekmçja nozîmîga

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lîdzekïu piesaiste no ârvalstu bankâm (kâpums 1. ceturksnî – 193.8 milj. latu, t.sk.no mâtesbankâm – 165.7 milj. latu) un ne-MFI noguldîjumu uz nakti atlikumapieaugums (176.6 milj. latu). Banku sektora ârzemju aktîvu kâpums bija mçrens,pieaugot ârvalstu ne-MFI izsniegto kredîtu apjomam (par 77.6 milj. latu) un ðoinstitûciju emitçto parâda vçrtspapîru portfelim (par 44.4 milj. latu).

PROCENTU LIKMES

1. ceturksnî latos un eiro no jauna izsniegto kredîtu procentu likmes kopumâ tur-pinâja samazinâties, bet ASV dolâros izsniegto – pieaugt (latos un ârvalstu valûtâizsniegto kredîtu procentu likmes sk. 19. att.). Savukârt no jauna piesaistîto no-guldîjumu procentu likmes 1. ceturksnî samazinâjâs (latos un ârvalstu valûtâ pie-saistîto noguldîjumu procentu likmes sk. 20. att.). Procentu likmju attîstîba kopumâatspoguïoja naudas tirgus procentu likmju pârmaiòu tendences. Atseviðíu kredîtuveidu procentu likmju samazinâðanos veicinâja arî vairâku banku centieni palielinâtsavu tirgus daïu.

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PROCENTU LIKMESÂM

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Turpinâja palielinâties rezidentu nefinanðu sabiedrîbâm un mâjsaimniecîbâm iz-sniegto kredîtu ar fiksçto procentu likmi apjoms. Tomçr joprojâm lielâkâ daïamâjsaimniecîbâm (85.5%) un nefinanðu sabiedrîbâm (85.1%) no jauna izsniegtokredîtu bija kredîti ar mainîgu procentu likmi un procentu likmes darbîbas sâkot-nçjo periodu lîdz 1 gadam.

Procentu likmes mâjsaimniecîbâm mâjokïa iegâdei latos izsniegtajiem kredîtiemar mainîgu procentu likmi un ar procentu likmes sâkotnçjo darbîbas periodu lîdz1 gadam 1. ceturksnî turpinâja samazinâties (lîdz 7.1%), bet ASV dolâros izsnieg-tajiem kredîtiem – pieaugt (lîdz 6.0%), savukârt eiro izsniegto kredîtu procentulikmes vidçji palika iepriekðçjâ ceturkðòa lîmenî (5.0%). Vidçjâs procentu likmeslatos izsniegtajiem patçriòa kredîtiem ar mainîgu procentu likmi un ar procentulikmes sâkotnçjo darbîbas periodu lîdz 1 gadam 1. ceturksnî bija 12.9%, eiro iz-sniegtajiem kredîtiem – 5.4% un ASV dolâros izsniegtajiem kredîtiem – 8.3%,savukârt pârçjo mâjsaimniecîbâm izsniegto kredîtu – attiecîgi 4.8%, 4.3% un 6.0%.

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Procentu likmes nefinanðu sabiedrîbâm izsniegtajiem lielâka apjoma kredîtiem armainîgu procentu likmi un ar procentu likmes sâkotnçjo darbîbas periodu lîdz1 gadam bija zemâkas nekâ atbilstoðiem mazâka apjoma kredîtiem. Latos izsniegtokredîtu, kuru apjoms mazâks par 200 tûkst. eiro, procentu likme 1. ceturksnî vidçjibija 7.9% (samazinâjums salîdzinâjumâ ar iepriekðçjo ceturksni – 0.5 procentupunkti), bet lielâka apjoma kredîtu vidçjâ procentu likme – 6.8% (pieaugums –0.3 procentu punkti).

Vairâkums rezidentu nefinanðu sabiedrîbu un mâjsaimniecîbu noguldîjumu ar no-teiktu termiòu 1. ceturksnî tika piesaistîti uz termiòu lîdz 1 gadam. Nefinanðusabiedrîbas un mâjsaimniecîbas noguldîja savus lîdzekïus galvenokârt latos, konoteica latos un citâs valûtâs veikto noguldîjumu ienesîguma starpîba. Latos uneiro piesaistîto îstermiòa noguldîjumu vidçjâ svçrtâ procentu likme 1. ceturksnîsalîdzinâjumâ ar iepriekðçjo ceturksni samazinâjâs par 0.2–0.4 procentu punktiem(attiecîgi lîdz 3.2% un 2.0%), savukârt ASV dolâros piesaistîto îstermiòa noguldî-jumu vidçjâ svçrtâ procentu likme pieauga par 0.4 procentu punktiem (lîdz 2.4%).Uz ilgâku termiòu piesaistîto noguldîjumu procentu likmes vidçji bija par 0.5–1.5 procentu punktiem augstâkas, un to pârmaiòas bija lîdzîgas îstermiòa nogul-dîjumu procentu likmju pârmaiòâm.

VÇRTSPAPÎRU UN VALÛTAS TIRGUS ATTÎSTÎBA

Valsts kase 1. ceturksnî Latvijas Bankâ organizçja vienu valdîbas 6 mçneðu parâd-zîmju un divas valdîbas 5 gadu obligâciju sâkotnçjâ tirgus daudzcenu (konkurçjoðâs)izsoles ar kopçjo piedâvâjumu 36.0 milj. latu. Pieprasîjums bija 3.1 reizi lielâksnekâ piedâvâjums, un tika pârdots viss piedâvâtais apjoms. Arî fiksçtâs procentulikmes izsolçs, kuras organizçtas LCD, tika pârdots viss piedâvâtais apjoms (9 milj.latu).

Atbilstoði latu naudas tirgus procentu likmju kritumam samazinâjâs arî vidçjâsienesîguma likmes valdîbas vçrtspapîru sâkotnçjâ tirgus izsolçs – 6 mçneðu parâd-zîmju vidçjâ svçrtâ diskonta likme 2005. gada janvârî bija par 31 bâzes punktu(3.12%) zemâka nekâ iepriekðçjâ izsolç 2004. gada decembrî, savukârt 5 gaduobligâciju vidçjâ svçrtâ peïòas likme 2005. gada martâ bija par 134 bâzes punktiem(3.30%) zemâka nekâ 2003. gada janvâra izsolç un par 20 bâzes punktiem zemâkanekâ 2005. gada februâra izsolç.

Jaunu vçrtspapîru emisijas apjoms bija mazâks nekâ iepriekð emitçto vçrtspapîrudzçðanas apjoms, un valdîbas vçrtspapîru atlikums apgrozîbâ 1. ceturksnî samazi-nâjâs par 4.2% (lîdz 407.8 milj. latu).

1. ceturkðòa beigâs lielâkie valdîbas vçrtspapîru turçtâji bija Latvijas bankas(46.7%), Latvijas Banka (24.5%) un pârçjie rezidenti (23.2%). Salîdzinâjumâ ariepriekðçjâ ceturkðòa beigâm lielâkâs pârmaiòas notika Latvijas banku vçrtspapîruportfelî. Ðâ portfeïa vçrtspapîru atlikums sakarâ ar vçrtspapîru dzçðanu un LatvijasBankas intervencçm valdîbas vçrtspapîru otrreizçjâ tirgû samazinâjâs (no 50.5%lîdz 46.7%).

Valdîbas 10 gadu obligâciju (ar dzçðanas termiòu 2014. gadâ) kotçtâ pieprasîjuma(bid) peïòas likme RFB samazinâjâs no 4.45% 2004. gada 4. ceturkðòa beigâs lîdz3.89% 2005. gada 1. ceturkðòa beigâs. Savukârt valdîbas parâdzîmju ar dzçðanastermiòu 2005. gada oktobrî peïòas likme samazinâjâs attiecîgi no 3.38% lîdz 2.38%.

VAS "Latvijas Hipotçku un zemes banka" 10 gadu obligâciju (ar dzçðanas termiòu2013. gadâ) kotçtâ pieprasîjuma (bid) ienesîguma likme RFB samazinâjâs no 5.25%lîdz 5.20%. Ðo vçrtspapîru nelielais ienesîguma likmju samazinâjums salîdzinâjumâ

24


ar valdîbas vçrtspapîru diskonta un peïòas likmju kritumu saistîts ar zemâku likvi-ditâti korporatîvo parâda vçrtspapîru otrreizçjâ tirgû.

Kopçjais parâda vçrtspapîru apgrozîjums RFB 1. ceturksnî bija 2.0 milj. latu (par11.0% vairâk nekâ iepriekðçjâ ceturksnî), tomçr tas joprojâm bija mazs salîdzinâ-jumâ ar apgrozîjumu pirms jaunâs tirdzniecîbas sistçmas SAXESS ievieðanas2004. gada septembra beigâs.

LCD reìistrçto latos denominçto korporatîvo parâda vçrtspapîru atlikums 1. ce-turksnî samazinâjâs – dzçsto parâda vçrtspapîru apjoms pârsniedza no jauna emi-tçto parâda vçrtspapîru apjomu. Tika dzçsti divu banku emitçtie vçrtspapîri10.9 milj. latu apjomâ, bet no jauna divas bankas emitçja vçrtspapîrus 8.0 milj.latu apjomâ ar dzçðanas termiòu attiecîgi 2010. un 2008. gadâ.

RFB kapitalizâcijas indeksa RIGSE pieaugums 1. ceturksnî salîdzinâjumâ ariepriekðçjo ceturksni palçninâjâs (kâpums – 8.0%; 2004. gada 4. ceturksnî – 20.2%),tomçr izaugsmes temps joprojâm bija samçrâ straujð. Baltijas valstu akciju tirgusindeksa BALTIX pieauguma temps 1. ceturksnî nemainîjâs (15.1%). Latvijas akcijutirgû akciju cenu izaugsmi veicinâja akciju sabiedrîbu publicçtie finanðu pârskati,kas liecinâja, ka kopumâ RFB kotçtâs akciju sabiedrîbas 2004. gadâ strâdâja arpeïòu, kâ arî Zviedrijas Swedbank piedâvâjums atpirkt Igaunijas Hansapank ak-cijas.

Akciju tirdzniecîbas aktivitâte RFB 1. ceturksnî pieauga lîdz 11.3 milj. latu (izòemottriju Brîvajâ sarakstâ iekïauto akciju sabiedrîbu sâkotnçjo akciju piedâvâjumu).Nozîmîgâko daïu (30%) no kopçjâ akciju apgrozîjuma joprojâm veidoja darîjumiar AS "SAF Tehnika" akcijâm.

Lai veicinâtu tirdzniecîbu ar Brîvajâ sarakstâ iekïauto akciju sabiedrîbu akcijâm,RFB ar 2005. gada 1. janvâri atcçla ðajâ sarakstâ iekïauto akciju sabiedrîbu akciju15% cenu svârstîbu ierobeþojumu, un Brîvajâ sarakstâ iekïauto akciju sabiedrîbuakciju apgrozîjums salîdzinâjumâ ar iepriekðçjo ceturksni pieauga gandrîz divasreizes.

Lata piesaistes maiòa no SDR valûtu groza uz eiro notika raiti un bez sareþìîju-miem. Lata kurss attiecîbâ pret piesaistes valûtu, lîdzîgi kâ iepriekð, gan piesaistesmaiòas brîdî, gan pçc tâs bija tuvs Latvijas Bankas noteiktajam piesaistes valûtaspirkðanas kursam. Starpbanku tirgû kotçtais lata kurss attiecîbâ pret eiro 1. ce-turksnî bija vidçji par 0.0001 augstâks nekâ Latvijas Bankas noteiktais eiro pirkðanaskurss (0.6958).

Pçc lata piesaistes eiro lata kurss attiecîbâ pret citâm pasaules nozîmîgâkajâmvalûtâm mainîjâs atbilstoði eiro vçrtîbas pârmaiòâm attiecîbâ pret ðîm valûtâm(Latvijas Bankas noteikto ASV dolâra un eiro kursu sk. 21. att.). ASV dolâra kurssattiecîbâ pret latu 1. ceturksnî palielinâjâs par 5.2% (lîdz 0.543 latiem par 1 ASVdolâru), Japânas jena – par 1.4% un Lielbritânijas sterliòu mârciòa – par 2.4%.

0.50

0.55

0.75

0.60

0.65

0.50

0.55

0.75

0.60

0.65

LATVIJAS BANKAS NOTEIKTAISASV DOLÂRA UN EIRO KURSS(latos)

ASV dolâra kurssEiro kurss

21. attçls

0.70 0.70

IV V VII VIIIVI IX

2004 2005

X XI XIIIII IIIIII

25

1 · 2005

Latvijas kredîtiestâþu valûtas darîjumu apgrozîjums 1. ceturksnî samazinâjâs gansalîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu (par 15.0%), gan salîdzinâjumâar iepriekðçjo ceturksni (par 21.0%) sezonâlu faktoru un vairâku vienreizçju fak-toru ietekmç. Pirms lata piesaistes maiòas no SDR valûtu groza uz eiro palielinâjâsto valûtas darîjumu apjoms, kas tika veikti riska ierobeþoðanas nolûkâ, tâdçjâdibûtiski ietekmçjot valûtas darîjumu apgrozîjuma pieaugumu 2004. gada decembrîun samazinâjumu 2005. gada sâkumâ. Papildu faktors, kurð, iespçjams, negatîviietekmçja valûtas darîjumu kopçjo apgrozîjumu, bija Krievijâ oficiâli pasludinâtâsilgstoðâs janvâra brîvdienas, kâdu nebija iepriekðçjos gados. Tâdçjâdi, lai gan valû-tas darîjumu apjoms martâ atkal pieauga, 1. ceturksnî kopumâ tas samazinâjâs.Kopçjais darîjumu apjoms valûtu dalîjumâ liecinâja par bûtisku ASV dolâros veiktodarîjumu apjoma samazinâðanos gan salîdzinâjumâ ar 2004. gada atbilstoðo periodu(par 13.0%), gan salîdzinâjumâ ar iepriekðçjo ceturksni (par 24.0%). Vçl straujâksaruka Krievijas rubïos veikto darîjumu apjoms, bet eiro veikto darîjumu apjomssamazinâjâs tikai nedaudz (attiecîgi par 2.4% un 5.5%). Tâdu skaidrâ un bezskaidrânaudâ 1. ceturksnî veikto valûtas darîjumu apjoms, kuros iesaistîts lats, salîdzinâ-jumâ ar iepriekðçjâ gada atbilstoðo periodu palielinâjâs 1.6 reizes (lîdz 7.9 mljrd.latu), bet salîdzinâjumâ ar iepriekðçjo ceturksni samazinâjâs par 16.2%.

MFI DARBÎBA

1. ceturkðòa beigâs Latvijas Republikâ bija reìistrçtas 56 MFI (izòemot LatvijasBanku), t.sk. 22 bankas, Nordea Bank Finland Plc Latvijas filiâle, 32 krâjaizdevusabiedrîbas un viena elektroniskâ naudas institûcija.

Kopçjais apmaksâtais banku un krâjaizdevu sabiedrîbu pamatkapitâls 1. ceturkðòabeigâs bija 389.4 milj. latu (par 1.2% vairâk nekâ 2004. gada beigâs). Ârvalstukapitâla îpatsvars apmaksâtajâ pamatkapitâlâ pieauga par 0.6 procentu punktiem(lîdz 58.3%).

Salîdzinâjumâ ar 2004. gada beigâm turpinâja augt visi nozîmîgâkie MFI darbîbasrâdîtâji, t.sk. aktîvi (neieskaitot aktîvus pârvaldîðanâ) – par 7.5% (lîdz 8 443.2 milj.latu), izsniegto kredîtu atlikums (ieskaitot tranzîtkredîtus) – par 11.4% (lîdz4 883.7 milj. latu) un noguldîjumu atlikums – par 5.8% (lîdz 5 394.6 milj. latu).MFI neauditçtâ 1. ceturkðòa peïòa bija 51.1 milj. latu (2.1 reizi vairâk nekâ iepriek-ðçjâ gada atbilstoðajâ periodâ). Kapitâls un rezerves palielinâjâs par 34.9 milj. latuun 1. ceturkðòa beigâs sasniedza 665.3 milj. latu.

Pelnîtspçjas râdîtâji bûtiski uzlabojâs. Kapitâla atdeve (ROE) 1. ceturkðòa beigâsbija 31.7% un aktîvu atdeve (ROA) – 2.5% (2004. gada beigâs attiecîgi 21.4% un1.7%). Kapitâla pietiekamîbas râdîtâjs salîdzinâjumâ ar 2004. gada beigâm ne-mainîjâs (11.7%).

Galvenie banku ienâkumu avoti 1. ceturksnî nemainîjâs. Tie bija procentu ienâkumino ne-MFI izsniegtajiem kredîtiem (44.3% no kopçjiem banku ienâkumiem) unkomisijas naudas ienâkumi (20.5%). Nedaudz pieauga procentu ienâkumi par pra-sîbâm pret MFI, kas sasniedza 7.5% no ienâkumu kopapjoma. Sakarâ ar vienreizçjubankas meitassabiedrîbas dividenþu izmaksu bûtiski (lîdz 6.5%) pieauga dividenþuienâkumu îpatsvars.

Lai gan kreditçðana pieauga, kredîtu kvalitâte arî 1. ceturksnî bija augsta. Ienâku-mus nenesoðo kredîtu îpatsvars banku kopçjâ kredîtportfelî joprojâm bija 1.1%.

Speciâlo uzkrâjumu ne-MFI izsniegtajiem kredîtiem apjoms tâpat kâ 2004. gadabeigâs atbilda 1.1% no ne-MFI izsniegto kredîtu kopsummas. Speciâlie uzkrâjumine-MFI 1. ceturkðòa beigâs sedza 98.2% no ienâkumus nenesoðo kredîtu apjoma.

26


NAUDAS RÂDÎTÂJU SEZONÂLÂ IZLÎDZINÂÐANA

Latvijas Banka ar 2005. gada 1. ceturksni publicç ECB metodoloìijai aprçíinâtomonetâro râdîtâju M1, M2 un M3 sezonâli izlîdzinâtâs laikrindas.

Monetâro râdîtâju M1, M2 un M3 dinamikas analîze, kas veikta ar programmpro-duktu "DEMETRA Version 2.04", atspoguïota 22.–33. attçlâ. Ðo râdîtâju sezonâlajâizlîdzinâðanâ izmantoto metodiku sk. Latvijas Bankas izdevuma "Monetârais Ap-skats. Monetary Review" 2004. gada 1. numurâ (21.–24. lpp.).

1.0

1.2

0.6

0.8

2.2

1.8

22. attçls

M1 LAIKRINDAS(perioda beigâs; mljrd. latu)

Sezonâli nekoriìçti datiSezonâli koriìçti dati

1998 1999 2001 2002 20032000 20052004

2.0

1.4

1.6

1.0

1.2

0.6

0.8

2.2

1.8

2.0

1.4

1.6

23. attçls



1.0

2.0

1.4

1.6

1.8

2.2

0.8

2.6

3.0

2.4

1.2

2.8

1.0

2.0

1.4

1.6

1.8

2.2

0.8

2.6

3.0

2.4

1.2

2.8

1998 1999 2001 2002 20032000 20052004

24. attçls



1.0

2.0

1.4

1.6

1.8

2.2

0.8

2.6

3.0

2.4

1.2

2.8

1.0

2.0

1.4

1.6

1.8

2.2

0.8

2.6

3.0

2.4

1.2

2.8

1998 1999 2001 2002 20032000 20052004

25. attçls

M1 DINAMIKA(salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu; %)

Laikrindas attîstîbas tendenceSezonâli izlîdzinâta laikrinda

10

15

–5

20

0

5

30

25

10

15

–5

20

0

5

30

25

1999 2001 2002 20032000 20052004

27

1 · 2005

26. attçls

M1 DINAMIKA(salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu; %;detalizçjums)


26 26

20 20

28 28

22 22

14 14

16 16

18 18

30 30

24 24

2002 2004

IXXII VIIII

2003 2005

IXXII VIIII IXXII VIIII XII III

27. attçls

M2 DINAMIKA(salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu; %)


10

25

15

–5

30

20

0

5

1999 2001 2002 20032000 20052004

10

25

15

–5

30

20

0

5

28. attçls

M2 DINAMIKA(salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu; %;detalizçjums)


2002 2004

IXXII VIIII

2003 2005


23 23

17 17

25 25

19 19

29 29

15 15

27 27

21 21

29. attçls

M DINAMIKA3(salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu; %)


1999 2001 2002 20032000 20052004

10

25

15

–5

30

20

0

5

10

25

15

–5

30

20

0

5

14

30. attçls

M DINAMIKA3(salîdzinâjumâ ar iepriekðçjâ gada atbilstoðo periodu; %;detalizçjums)


30

26 26

16 16

14

20 20

18 18

22 22

24 24

30

28 28

2002 2004

IXXII VIIII

2003 2005


28


31. attçls

M1: SEZONÂLO FAKTORU IETEKMESLIELUMS UN STABILITÂTE(199 . gada janvâris–2005. gada marts; %)8

106 106

104 104

96 96

100 100

98 98

102 102

IV V VI X XI XIIIII VII IXVIIIIII

32. attçls



106 106

104 104

96 96

100 100

98 98

102 102

33. attçls



106

104

96

100

98

102

106

104

96

100

98

102

LATVIJAS MAKSÂJUMU STATISTIKA

2004. gadâ, tâpat kâ iepriekðçjos gados, maksâjumu pakalpojumus sniedza Latvijâreìistrçtâs bankas, viena ârvalstu bankas filiâle un Latvijas Banka (tâlâk tekstâ –banku sistçma), kâ arî VAS "Latvijas Pasts" (tâlâk tekstâ – Latvijas Pasts). Vairâkaskomercsabiedrîbas, galvenokârt degvielas tirdzniecîbas uzòçmumi, 2004. gadâ tur-pinâja izdot viennolûka mazumtirdzniecîbas kartes un apkalpot ðo karðu maksâ-jumus.

Joprojâm auga banku sistçmâ un Latvijas Pastâ atvçrto klientu norçíinu kontuskaits un tajos pieejamo noguldîjumu apjoms. Klientu bezskaidrâs naudas maksâ-ðanas lîdzekïu lietoðana pieauga visâs pozîcijâs, izòemot maksâjumus Latvijas Pastâ.Klientu bezskaidrâs naudas maksâðanas lîdzekïu skaita kâpumu noteica kredîtapârvedumu un ar norçíinu kartçm veikto maksâjumu skaits. 2004. gadâ norçíinukartes pirmo reizi bieþâk tika lietotas maksâjumu veikðanai, nevis skaidrâs naudasizòemðanai no bankomâta. Savukârt skaidrâs naudas darîjumos iedzîvotâji bieþâkizmantoja bankomâtus, nevis banku vai Latvijas Pasta kases. Visstraujâk attîstîjâstieðâ debeta maksâðanas lîdzekïi, kas salîdzinâjumâ ar citâm ES valstîm Latvijâvçl nav îpaði izplatîti.

29

1 · 2005

Norçíiniem izmantojamo klientu kontu skaits un to atlikumi

Klientu norçíinu kontus 2004. gadâ apkalpoja 22 bankas un viena ârvalstu bankasfiliâle (tâlâk tekstâ – bankas), kâ arî Latvijas Banka un Latvijas Pasts. 2004. gadâbankas atvçra 10 jaunas filiâles, bet Latvijas Banka slçdza vienu filiâli. LatvijasPasta filiâïu un nodaïu skaits nemainîjâs un arî 2004. gadâ veidoja vairâk nekâpusi (60.9%) no visa Latvijas banku sistçmas un Latvijas Pasta filiâïu skaita.

2004. gadâ banku sistçmâ atvçrto klientu norçíinu kontu skaits palielinâjâs par8.9% un sasniedza 2.4 milj. Straujâk auga noguldîjumu atlikums (kredîta atlikums)ðajos kontos. Noguldîjumu atlikums 2004. gada beigâs bija par 37.5% lielâks nekâ2003. gada beigâs un sasniedza 3.4 mljrd. latu. Augot banku daþâdu veidu kredîtupiedâvâjumu klâstam, klienti arvien vairâk izmantoja banku kredîtus arî norçíi-niem, piemçram, maksâjumiem ar norçíinu kartçm. Tâdçjâdi par 65.5% (lîdz201.2 milj. latu) palielinâjâs klientu norçíinu kontu pârsniegums (debeta atlikums).Tomçr tâ îpatsvars kopçjâ klientu norçíinu kontos pieejamo naudas lîdzekïu struk-tûrâ bija tikai 5.5%. Latvijas Pastâ atvçrto klientu norçíinu kontu skaits 2004. ga-dâ pieauga par 15.1% un sasniedza 109.2 tûkst., savukârt noguldîjumu atlikumstajos 2004. gada beigâs bija 6.2 milj. latu (par 55.0% vairâk nekâ 2003. gada beigâs).

Vidçjais noguldîjumu atlikums klienta norçíinu kontâ banku sistçmâ 2004. gadabeigâs bija 1 429.44 lati un norçíinu konta pârsniegums – 83.73 lati. Vidçjais no-guldîjumu atlikums klienta norçíinu kontâ Latvijas Pastâ 2004. gada beigâs bija56.78 lati.

Klientu bezskaidrâs naudas maksâðanas lîdzekïu lietoðana

2004. gadâ, klientiem izmantojot bezskaidrâs naudas maksâðanas lîdzekïus, darî-jumu skaits pieauga par 20.1% (lîdz 111.5 milj.; sk. 34. att.). Savukârt ðâdu darîjumuapjoms palielinâjâs par 23.7% (lîdz 273.9 mljrd. latu; sk. 35. un 36. att.). Latvijâgada laikâ uz vienu iedzîvotâju tika apstrâdâti vidçji 48.2 klientu bezskaidrâs naudasmaksâjumi. 92.7% (103.3 milj.) no visu veikto darîjumu skaita bija maksâjumi latos,bet lielâks ðâdu darîjumu kopapjoms (82.5%; 225.9 mljrd. latu) bija maksâjumiemârvalstu valûtâs.

34. attçls

KLIENTU BEZSKAIDRÂS NAUDASMAKSÂÐANAS LÎDZEKÏU SKAITS(milj.)

1 02

1 00

20

80

0

60

40

1 02

1 00

20

80

0

60

401. Latos2. Ârvalstu valûtâs

2000

2.1.

2001

2.1.

2002

2.1.

2003

2.1.

2004

2.1.

Klientu kredīta pārvedumiMaksājumi ar kartēm (banku un mazumtirdzniecības)Debeta darījumi (čeki, tiešais debets, pasta tiešais debets)Latvijas Pasta kredīta pārvedumi (pasta maksājumi)

35. attçls

KLIENTU KREDĪTA PĀRVEDUMI1

(mljrd. latu)

1. Latos2. Ârvalstu valûtâs

2000.–2004. gadâ vairâk nekâ 99% no kopapjoma veidoja kientu kredîta pârvedumi.1

250

2 00

50

150

0

100

250

2 00

50

150

0

100

2000

2.1.

2001

2.1.

2002

2.1.

2003

2.1.

2004

2.1.

30


Lielâko daïu klientu bezskaidrâs naudas maksâðanas lîdzekïu 2004. gadâ veidojabanku sistçmâ veiktie kredîta pârvedumi (50.1% no klientu bezskaidrâs naudasmaksâðanas lîdzekïu kopskaita un 99.6% no to kopapjoma). Kredîta pârvedumuskaits pieauga par 18.6% (lîdz 55.9 milj.), bet apjoms – par 23.7% (lîdz 272.7 mljrd.latu). Banku sistçmâ veikto kredîta pârvedumu skaita kâpumu noteica internetban-kâs veikto maksâjumu skaita pieaugums par 74.4% (lîdz 12.8 milj.). Internetban-kas maksâjumu skaits 2004. gadâ pirmo reizi pârsniedza elektronisko bankas pakal-pojumu skaitu. Internetbankâs veikto maksâjumu apjoms palielinâjâs par 67.9%(lîdz 105.0 mljrd. latu) un 1.8 reizes pârsniedza elektronisko bankas pakalpojumuapjomu.

21.3 milj. jeb 19.1% no visiem klientu bezskaidrâs naudas maksâjumiem tika veiktiar Latvijas Pasta starpniecîbu, un to kopçjais apjoms bija 559.6 milj. latu jeb 0.2%no klientu bezskaidrâs naudas maksâjumu apjoma. Maksâjumi ar Latvijas Pastastarpniecîbu tika veikti nacionâlajâ valûtâ. 2004. gadâ Latvijas Pastâ elektroniskâveidâ tika veikti 68.2% jeb 14.5 milj. maksâjumu (par 0.9% vairâk nekâ iepriekðçjâgadâ). Savukârt papîra dokumenta veidâ apstrâdâto maksâjumu skaits samazinâjâspar 7.4% (lîdz 6.8 milj.), tâpçc par 1.9% saruka kopçjais ar Latvijas Pasta starp-niecîbu veikto maksâjumu skaits. Papîra dokumenta veidâ Latvijas Pastâ galveno-kârt apstrâdâ ar Valsts sociâlâs apdroðinâðanas aìentûras pensiju un pabalstu iz-maksâm Latvijas reìionos saistîtos maksâjumus.

2004. gadâ bûtiski (par 41.8%) pieauga ar banku norçíinu kartçm un mazum-tirdzniecîbas kartçm veikto maksâjumu skaits, palielinot ðâdu maksâjumu îpatsvaruklientu bezskaidrâs naudas maksâðanas lîdzekïu struktûrâ. Ar norçíinu kartçmveikti 33.5 milj. maksâjumu jeb 30.0% no visiem klientu bezskaidrâs naudas mak-sâjumiem. Ar banku norçíinu kartçm veiktie maksâjumi veidoja 88.2% (29.5 milj.)no norçíinu karðu maksâjumu kopskaita un 84.0% (454.4 milj. latu) no norçíinukarðu maksâjumu kopapjoma, bet ar viennolûka mazumtirdzniecîbas kartçm veiktiemaksâjumi – attiecîgi 11.8% (4.0 milj.) un 16.0% (86.8 milj. latu). Vidçjais ar bankasnorçíinu karti veiktâs vienas transakcijas apjoms 2004. gadâ bija 15.39 lati (par2.0% mazâks nekâ 2003. gadâ). Tas liecina, ka iedzîvotâji par nelieliem ikdienaspirkumiem arvien bieþâk izvçlas maksât ar bankas norçíinu karti. Savukârt armazumtirdzniecîbas karti veiktâs transakcijas vidçjais apjoms pieauga par 14.2%,kas daïçji skaidrojams ar degvielas cenu kâpumu 2004. gadâ.

Salîdzinot Latvijâ izmantoto klientu bezskaidrâs naudas maksâðanas lîdzekïu struk-tûru ar eiro zonas valstu vidçjiem râdîtâjiem, var secinât, ka gan Latvijâ, gan eirozonas valstîs maksâjumi visvairâk tiek veikti, izmantojot kredîta pârvedumus. Lat-vijâ kredîta pârvedumu skaita îpatsvars 2003. gadâ bija 74.1% (sk. 37. att.) un eirozonas valstîs vidçji – 31.5%, jo ðajâs valstîs vairâk nekâ Latvijâ tiek izmantoti tieðâdebeta un èeku maksâjumi.

Latvijâ 2004. gadâ kredîta pârvedumu (banku sistçmas klientu kredîta pârvedumuun pasta maksâjumu) skaita îpatsvars samazinâjâs lîdz 69.2%, jo strauji auga ar

3 . attçls6

PÂRÇJO KLIENTU BEZSKAIDRÂS NAUDASMAKSÂÐANAS LÎDZEKÏU APJOMS(mljrd. latu)

1 0.

0.2

0.8

0

0.6

0.4

1 0.

0.2

0.8

0

0.6

0.41. Latos2. Ârvalstu valûtâs

Maksājumi ar norēķinu kartēm (banku unmazumtirdzniecības)Debeta darījumi (čeki, tiešais debets, pasta tiešais debets)Latvijas Pasta kredīta pārvedumi (pasta maksājumi)

2000

2.1.

2001

2.1.

2002

2.1.

2003

2.1.

2004

2.1.

31

1 · 2005

norçíinu kartçm veikto maksâjumu skaits. Ar norçíinu kartçm veikti 30.0% novisiem klientu bezskaidrâs naudas maksâjumiem, pârsniedzot eiro zonas valstu2003. gada vidçjo râdîtâju (28.2%). Kredîta pârvedumu apjoma îpatsvars klientubezskaidrâs naudas maksâðanas lîdzekïu struktûrâ Latvijâ 2004. gadâ saglabâjâs99.8% lîmenî (eiro zonas valstîs 2003. gadâ vidçji – 93.3%).

Lai gan Latvijas banku sistçmâ 2004. gadâ veikto tieðâ debeta maksâjumu skaitsun apjoms piedâvâto maksâðanas lîdzekïu klâstâ pieauga visstraujâk (attiecîgi2.2 reizes un 2.1 reizi jeb lîdz 814.2 tûkst. un 33.4 milj. latu), tomçr salîdzinâjumâar eiro zonas valstu vidçjo râdîtâju tieðâ debeta maksâjumu îpatsvars Latvijasmaksâjumu sistçmâ ir visai neliels. 2004. gadâ banku un Latvijas Pasta tieðâ debetamaksâjumi kopâ veidoja tikai 0.7% no klientu bezskaidrâs naudas maksâðanaslîdzekïu kopskaita Latvijâ, savukârt eiro zonas valstîs jau 2003. gadâ to skaitsvidçji bija 27.3%. Arî èeku maksâjumu îpatsvars Latvijâ ir viens no mazâkajiem.2004. gadâ Latvijâ èekos veikto maksâjumu skaita un apjoma îpatsvars klientubezskaidrâs naudas maksâðanas lîdzekïu kopskaitâ un kopapjomâ bija tikai attiecîgi0.05% un 0.006%. Eiro zonas valstîs samazinoties èekos veikto maksâjumu îpatsva-ram klientu bezskaidrâs naudas maksâjumu sistçmâ, 2003. gadâ tas vidçji bija11.9%, un to galvenokârt noteica lielais èekos veikto maksâjumu îpatsvars Francijasnacionâlajâ norçíinu sistçmâ.

Skaidrâs naudas darîjumi

Kopçjais skaidrâs naudas iemaksu un izmaksu skaits 2004. gadâ pieauga par 5.5%un apjoms – par 14.9%. Banku sistçmâ un Latvijas Pastâ veiktâs skaidrâs naudasiemaksas un izmaksas sasniedza 80.5 milj. darîjumu 17.7 mljrd. latu kopapjomâ(sk. 38. un 39. att.).

37. attçls

KLIENTU BEZSKAIDRÂS NAUDASMAKSÂÐANAS LÎDZEKÏI(îpatsvars; %)

1. Latvijā lietotie maksāšanas līdzekļi2. Eiro zonā lietotie maksāšanas līdzekļi1

Kredīta pārvedumiTiešais debetsE-naudas maksājumiČekiAr maksājumu kartēm veiktie maksājumi

1 00

20

80

0

60

40

1 00

20

80

0

60

40

2000

2.1.

2001

2.1.

2002

2.1.

2003

2.1.

2004

1.

1 Avots: Payment and securities settlement systems in the European Union Addendum incorporating 2003 figures (Blue Book).

3 . attçls8

SKAIDRÂS NAUDAS IEMAKSU UNIZMAKSU SKAITS(milj.)

Skaidrās naudas iemaksas un izmaksas banku kasēsIzmaksas no bankomātiemLatvijas Pasta skaidrās naudas iemaksas un izmaksas

90

30

15

75

0

60

45

90

30

15

75

0

60

45

2000 2001 2002 2003 2004

2004. gadâ skaidrâs naudas iemaksâm un izmaksâm banku un Latvijas Pasta kasçssamazinoties attiecîgi par 5.2% un 3.5% un strauji (par 24.5%) pieaugot skaidrâsnaudas izmaksâm no bankomâtiem, bankomâtos tika veikts jau 40.3% (32.4 milj.)no visa skaidrâs naudas iemaksu un izmaksu kopskaita un 9.1% no to kopapjoma.Tas norâda, ka iedzîvotâji, lai izòemtu skaidro naudu ikdienas vajadzîbâm, arvien

32


bieþâk izmanto bankomâtus, nevis dodas uz banku vai Latvijas Pasta kasçm. Vis-lielâko apjomu (87.9%; 15.6 mljrd.) veidoja skaidrâs naudas iemaksas un izmaksasno banku kasçm. Lai gan ir liels Latvijas Pasta filiâïu skaita îpatsvars, skaidrâs nau-das darîjumu skaits un apjoms tajâs bija vismazâkais – attiecîgi 28.2% (22.7 milj.)un 3.1% (547.5 milj.). Bankomâtus un Latvijas Pasta pakalpojumus vairâk izmantoiedzîvotâji maziem darîjumiem, bet bankâs lielu daïu skaidrâs naudas iemaksu unizmaksu apjoma veido tirdzniecîbas uzòçmumu inkasâcijas darîjumi un skaidrâsnaudas izmaksas komercsabiedrîbâm darbinieku algâm.

Banku norçíinu kartes un mazumtirdzniecîbas kartes, bankomâti unnorçíinu karðu pieòemðanas vietas un tîkli

Norçíinu kartes Latvijâ 2004. gadâ izdeva 22 bankas un 17 komercsabiedrîbas.Norçíinu karðu skaits palielinâjâs par 14.0%, sasniedzot 1.4 milj. Salîdzinâjumâar 2003. gadu banku izdoto norçíinu karðu skaits pieauga par 11.7%, bet mazum-tirdzniecîbas viennolûka karðu skaits – par 54.0%. Arî 2004. gadâ lielâkâ daïanorçíinu karðu (92.7%) bija banku izdotâs norçíinu kartes. 2004. gada beigâs uz1 000 iedzîvotâjiem bija 615 banku norçíinu kartes un 45 mazumtirdzniecîbaskartes. Vidçji gada laikâ ar vienu bankas norçíinu karti tika veikti 22.5 maksâjumi,24.7 izmaksas no bankomâta un 0.6 naudas lîdzekïu pârvedumi no bankomâta. Arviennolûka mazumtirdzniecîbas karti vidçji tika veikti 38.2 maksâjumi. Ar ðo kartinav iespçjams izòemt skaidro naudu vai veikt citas transakcijas.

No visâm apgrozîbâ esoðajâm norçíinu kartçm 93.2% bija debetkartes un debet-kartes ar pârsnieguma iespçjâm, bet kredîtkartes – tikai 3.8%. Banku norçíinukarðu kopskaitâ debetkartes un debetkartes ar pârsnieguma iespçjâm veidoja 95.9%(1.3 milj.). Savukârt mazumtirdzniecîbas debetkarðu un kredîtkarðu skaits 2004. ga-da beigâs bija attiecîgi 59.9% (61.9 tûkst.) un 40.1% (41.5 tûkst.). Kredîtkarðuîpatsvars mazumtirdzniecîbas karðu kopskaitâ ir lielâks nekâ banku norçíinu karðukopskaitâ, jo komercsabiedrîbas aktîvi piedâvâ viennolûka kredîtkartes, lai pie-saistîtu klientus.

Bankomâtu un norçíinu karðu pieòemðanas vietu skaits 2004. gadâ pieauga attiecîgipar 0.8% (lîdz 875) un 15.8% (lîdz 11.9 tûkst.). Bankomâtu tîklu darbîbu Latvijâ2004. gada beigâs nodroðinâja SIA "Banku servisa centrs" un èetras bankas. Norç-íinu karðu pieòemðanas vietu un to tîklu darbîbu nodroðinâja divas bankas, SIA"Banku servisa centrs", kâ arî SIA "Neste Latvija", kas, tâpat kâ bankas, apkalpojapaðu izdoto mazumtirdzniecîbas karðu un banku norçíinu karðu pieòemðanas vie-tas. Pârçjâs mazumtirdzniecîbas kartes tika apkalpotas, izmantojot banku norç-íinu karðu pieòemðanas vietas attiecîgajos degvielas tirdzniecîbas uzòçmumos.

3 . attçls9

SKAIDRÂS NAUDAS IEMAKSU UNIZMAKSU APJOMS(ml )jrd. latu

Skaidrās naudas iemaksas un izmaksas banku kasēsIzmaksas no bankomātiemLatvijas Pasta skaidrās naudas iemaksas un izmaksas

9

3

18

0

6

2000 20042001 2002 2003

15

12

9

3

18

0

6

15

12

33

1 · 2005

LATVIJAS BANKAS PAMATUZDEVUMU IZPILDES NORMATÎVÂSAKTUALITÂTES (2005. GADA 1. CETURKSNIS)

13. janvârisLatvijas Bankas padome pieòçma lçmumu "Par "Kredîtiestâþu ilgtermiòa ârçjoaizòçmumu pârskata un prognozes sagatavoðanas noteikumu" nosaukuma maiòuun grozîjumiem" (spçkâ ar 01.04.2005.).

Latvijas Bankas padome apstiprinâja "Latvijas Bankas naudas zîmju reproducç-ðanas noteikumus" (spçkâ ar 01.02.2005.).

Latvijas Bankas padome pieòçma lçmumu "Par ""Ârvalstu valûtu tîrâs atklâtâspozîcijas pârskata" sagatavoðanas noteikumu" grozîjumiem" (spçkâ ar 01.04.2005.).

Latvijas Bankas padome pieòçma lçmumu "Par ""Kredîtiestâþu procentu likmjupârskata sagatavoðanas noteikumu" nosaukuma maiòu un grozîjumiem" (spçkâ ar01.04.2005.).

Latvijas Bankas padome pieòçma lçmumu "Par ""Naudas tirgus darîjumu pârskata"sagatavoðanas noteikumu" grozîjumiem" (spçkâ ar 01.04.2005.).

Latvijas Bankas padome pieòçma lçmumu "Par ""Kredîtu norakstîðanas un vçrts-papîru pârvçrtçðanas korekciju pârskata" sagatavoðanas noteikumu" grozîjumiem"(spçkâ ar 01.04.2005.).

Latvijas Bankas padome atcçla lçmumu "Par "Skaidrâs naudas inkasâcijas licen-cçðanas noteikumu" apstiprinâðanu".

21. martsLatvijas Bankas padome apstiprinâja "Parâdnieku reìistra noteikumus" jaunâ re-dakcijâ (spçkâ ar 01.09.2005.).

Latvijas Bankas padome pieòçma lçmumu "Par "Elektroniskâs naudas izlaiðanasun apkalpoðanas noteikumu" grozîjumiem" (spçkâ ar 01.04.2005.).

34


35

1 · 2005

INTRODUCTION

In the first quarter, the Latvian economy developed against the background ofstrong domestic consumption and high level of investment. Transport, storageand communication performed robustly, construction and retail trade developedrapidly, but industrial output remained unchanged. It was affected by problemsencountered by some sectors of industry, e.g. the production of wood and prod-ucts of wood and cork (except furniture) and energy was influenced by one-offfactor – the violent storm in January. As a result the overall economic growthslowed down and Latvia's GDP grew by 7.4% year-on-year. The annual consumerprice inflation declined (from 7.3% in December to 6.4% in March), and the an-nual core inflation decreased to 5.4%. Although the growth rate of exports con-siderably exceeded that of imports, the current account deficit remained high.

The economic growth enabled the Government to ensure budgetary surplus, withthe tax revenue posting a substantial rise. Budgetary revenue increased also dueto the financial assistance received from the EU. In the first quarter, the financialsurplus of the general government consolidated budget stood at 43.0 million lats,25.0% higher year-on-year.

The strong domestic demand was facilitated by rapid lending growth. The annualgrowth rate of lending exceeded 50% in January, declining only slightly in Febru-ary and March to 48.2% and 49.5%, respectively. An increase in mortgage lend-ing, as well as an upsurge in commercial credit and industrial credit contributedto the annual growth of lending to resident financial institutions, non-financialcorporations and households. Consumer credit also posted an increase. The gradualdecline in borrowing in lats and US dollars and preference of loans in euros be-came more pronounced. Lending was financed both by increasing domestic de-posits and funds received from foreign banks (primarily parent banks).

EXTERNAL ECONOMIC ENVIRONMENT

In the first quarter, the global economy continued to expand above its potentialand the GDP growth rate reached 3.6% notwithstanding the slight drop in theeconomic activity stemming from the rising oil prices. Nevertheless, the economicactivity in several countries continued to grow. In the first quarter, strong eco-nomic growth was observed in China, Japan and EU10 countries. The economicgrowth in the euro area countries, however, remained sluggish. With the growthof US economy accelerating and payroll statistics improving, prospects of a fur-ther gradual rise in the FRS policy rates strengthened in the financial markets.

In the first quarter, oil prices started to rise again, prompting cuts in forecasts forthe global economic growth for 2005. In the second half of March, the US WTIcrude oil and European Brent crude oil prices exceeded 57 US dollars per barrel(see Chart 1). In the first quarter, the Brent crude oil and OPEC oil prices rose by25% and 37%, respectively. The rise in oil prices was primarily driven by the grow-ing global demand for oil products, particularly in Asian countries, and by theconcern that the increase in the global demand for oil would exceed the projectedoil extraction levels, thus encouraging investor speculations on oil futures market.A drop in OPEC oil extraction levels to 27 million barrels per day since January 1,colder than average weather in northern US and in Europe, as well as oil extrac-tion disturbances in the North Sea and the Gulf of Mexico also contributed to therise in oil prices. To reduce tension on the oil market, in its regular meeting onMarch 16 OPEC decided to expand the oil extraction levels by 0.5 million barrelsper day. After the increase in oil extraction, oil prices dropped slightly, and at the

36


end of March the Brent crude oil and OPEC oil prices had fallen to 49–51 USdollars and 48–50 US dollars per barrel, respectively.

In the first quarter, proceeding with the tightening of monetary policy introducedin June 2004, the FRS raised its policy rate both on February 2 and March 22 by25 basis points (to 2.75%; see Chart 2). Other major central banks did not changetheir key rates. Hence, at the end of the first quarter, the ECB key rate remainedat its historical low (2.00%), whereas the base rates of the Bank of England andthe Bank of Japan were 4.75% and 0.10%, respectively. Leaving its key rate un-changed, the ECB pointed out that domestic risks to price stability still remainedlow, but in the medium term careful monitoring of external risk (i.e. global oilprices) developments and their prospective impact on euro area inflation was re-quired.

Major stock markets declined in the first quarter, mostly due to high oil pricesand the uncertainty of the global economic development. The US stock marketdevelopment was also hampered by raising the FRS policy rate. In comparisonwith the fourth quarter of 2004, the reporting quarter was not very favourable forthe US stock markets. In the first quarter, the US stock market index S&P 500and the technology-dominated NASDAQ Composite decreased by 2.6% and 8.1%,respectively. In contrast to the US stock markets, those in Europe and Asia re-corded slow improvement. The European stock market index Dow Jones EUROSTOXX 50 and the Japanese stock market index Nikkei 225 increased by 3.5%and 1.6%, respectively. A rise was observed in the Russian stock market, prima-rily driven by higher energy prices in the global markets, as well as the positiveoperational results of those businesses whose shares are traded on the stock ex-change. Overall, the Russian stock market RTS index improved by 8.9% in thefirst quarter.

In the foreign exchange markets, reverse fluctuation trends were observed in theUS dollar exchange rate against the major currencies in the first quarter, with thedollar strengthening in January and March and weakening in February. Changesin the US dollar exchange rate were primarily caused by a notable deficit of the

Chart 1

BRENT AND OPEC OIL PRICES(USD per barrel)

BrentOPEC

60

55

25

30

35

45

50

40

60

55

25

30

35

45

50

40

IV V VII VIIIVI IX

2004 2005

X XI XIIIII IIIIII

Chart 2

BASE RATES OF WORLD CENTRAL BANKS(%)

FRSECBBank of JapanBank of England

4 4

3 3

5 5

0 0

2 2

1 1

IV V VII VIIIVI IX

2004 2005

X XI XIIIII IIIIII

37

1 · 2005

US current account and the budget as well as the raising of the policy rate, witheach of the factors alternately leaving a pronounced impact on the US dollar ex-change rate developments. In the first quarter, the most significant fluctuationswere observed in the exchange rate of the euro against the US dollar (a rise of4.9%). The US dollar appreciated against the Japanese yen and the British poundsterling by 4.0% and 1.8%, respectively.

In the debt securities market, the Treasury bond yields generally rose in the firstquarter, e.g. ten-year US government and the UK government bond yields in-creased by 30 basis points and 13 basis points, respectively. At the end of the firstquarter, ten-year German government debt securities yields remained unchangedquarter-on-quarter.

In the first quarter, the US GDP recorded slower-than-expected growth of 3.8%(instead of the projected 4.0%), mostly due to a slowdown in the economic activ-ity observed in March. Despite the rapid acceleration in energy prices, the privatedemand remained fairly strong (a rise of 3.6%) in the first quarter. Business in-vestment increased by 6.6% whereas government consumption in real terms edgedup by a mere 0.2%. With exports increasing by 8.9%, imports posted more rapidgrowth (9.6%), therefore the contribution of net exports to the GDP was negativeand the foreign trade balance also continued to deteriorate. In the first quarter,inflation in the US increased. A rise in energy prices as well as an increase in unitlabour costs at the beginning of the year accounted for that. In March, the con-sumer price index (CPI) rose by 3.1% year-on-year.

In Japan, robust economic growth was observed in the first quarter: GDP increasedby 4.9% quarter-on-quarter, mostly driven by the acceleration of domestic de-mand. Following a drop in the previous quarter, the industrial output also im-proved, although exports did not record substantial growth.

In the first quarter the euro area GDP growth slightly accelerated, increasing by0.5% quarter-on-quarter (in the fourth quarter of 2004 the quarterly growth ratestood at 0.2%). However, the slowing down was observed already in the secondhalf of the quarter. After a rise in December and January, the activity in the euroarea industrial sector subsided in February and March, as evidenced by a drop inoutput, as well as producer confidence survey data (IFO, BNB and INSEE, aswell as the PMI index of the euro area industrial sector). Analysts attributed theslowdown in the activity both to a decline in demand and adjustments in the in-dustrial sector inventories. Of the major euro area countries, the situation wasparticularly aggravating in Italy: over the last four years the industrial output inItaly has declined while that in France and Germany has grown on average by0.2% and 0.7%, respectively. In 2004, output in Italy shrank by 0.9% whereas thatin France and Germany increased by 1.9% and 3.1%, respectively. A similar trendhas also been observed at the beginning of 2005, with the Italian industrial sectorhindering the industrial production growth of the entire euro area. The strength-ening of the euro area private demand also remained subdued.

In February and March, inflation in the euro area was slightly above the ECBinflation target (2.1%). Its rise was predominantly driven by the increasing energyprices, as well as fresh vegetable and fruit prices, mostly attributed to the impactof the unfavourable weather conditions and relatively early Easter.

Although the macroeconomic growth of the CEE countries slowed down in thefirst quarter, it remained robust in general. Export growth and the activity of theindustrial sector subsided somewhat. A rise in consumer goods prices and unem-ployment hindered the domestic private consumption, resulting in a slower retailtrade growth. Despite the considerable economic growth, unemployment in the

38


CEE countries was almost twice as high as in the euro area countries. The in-crease in output in several industrial sectors was mostly achieved by increasingthe productivity considerably and reducing labour costs rather than by growth ofemployment and the drop in the high level of unemployment. By introducing tightermonetary policy, most of the CEE countries successfully managed to contain theinflationary pressure caused by the accession to the EU; nevertheless, in the Bal-tic States and Slovenia (countries with a fixed currency exchange rate) the highinflation still remained a topical issue.

In the first quarter, the increase in Estonia's GDP was 7.2%, mostly driven byrapid export growth. Industrial output also continued to grow. Manufacture ofradio, television and communication equipment and apparatus and electrical ma-chinery and apparatus n.e.c. showed the highest gains and were the principal groupsof export goods in Estonia. The increase in the output of building materials wasdriven by the rapid growth of the construction sector. The output of manufactureof textiles, as well as wood (due to the storm in January) recorded a considerabledrop.

GDP in Lithuania grew by 5.7% in the first quarter. The oil processing sector'spositive impact on the export and industrial output indicators persisted. In manu-facturing, the sectors producing export goods (manufacture of food products andchemicals and chemical products) posted the highest growth.

In the first quarter, Russia's GDP increased by 4.9% year-on-year. Russia's eco-nomic growth was driven by the expansion of exports, with oil prices rising on theglobal market. In the first quarter, oil exports grew by 12.8% while extraction ofoil and natural gas condensate in Russia edged higher by a mere 3.5%. After therapid upsurge in 2003, the growth rate of investment started to decline in 2004,continuing the downward trend also in the first months of 2005. The issues re-lated to the oil company Yukos caused concern with respect to the ownershiprights in Russia, leaving a negative impact on investment policy as well. Up tonow, investment in Russia's oil industry has been made mostly in oil fields witheasy extraction, with investors avoiding large infrastructure projects. In order toensure large levels of output, development of new oil fields in Siberia is required.Inflation remained high: in March the consumer price annual growth rate reached13.3%. As a result of the high inflation, the rate of increase in real wages de-clined. The level of unemployment continued to shrink. The moderation of thegrowth rate of the Russian national economy is expected to continue, and accord-ing to the Russian Government forecasts the GDP growth rate will be 6.0% in2005 (7.1% in 2004).

EXTERNAL SECTOR DEVELOPMENTS

Foreign Trade and Competitiveness

At the beginning of 2005, foreign trade continued the trend from the second halfof 2004 developing buoyantly, most notably manifested by the rapid export growth.It was determined by the high domestic economic activity and growing externaldemand as a result of an upturn in the economic activity in Europe in the firstquarter. Exports and imports of goods increased by 37.4% and 25.8% year-on-year, respectively. The excess of imports over exports shrank (see Chart 3 forannual growth rates of exports and imports).

In the first quarter, wood and articles of wood, base metals and articles of basemetals, mineral products, textiles and textile articles, agricultural and food prod-

39

1 · 2005

ucts were the most important Latvia's export goods; however, essential structuralchanges were observed in these groups of commodities in comparison with the

previous year. The share of wood and articles of wood decreased from 35.9% inthe first quarter of 2004 to 25.8% in the first quarter of 2005, as no year-on-yearincrease in exports for this group was experienced as a result of the damage causedby the January storm and due to the mild winter. In real terms, exports of woodand articles of wood, textiles and textile articles shrank; nevertheless, in the firstquarter, the overall growth of the export volume exceeded that of prices. Exportsexpanded on account of mineral products, base metals and articles of base metals,agricultural and food products, machinery and mechanical appliances, electricalequipment. Although prices of almost all major export goods rose significantly,exports of mineral products, base metals and articles of base metals, agriculturaland food products, machinery and mechanical appliances, electrical equipmentand transport vehicles in real terms expanded at a more rapid rate.

In the first quarter, Latvia's exports to EU countries increased by 33.8%, whereasthe share of these countries in total exports contracted slightly. Exports to theCIS countries (Russia) and other countries (Switzerland) expanded rapidly. Inthe EU countries group, exports grew predominantly on account of the EU10countries (Estonia, Lithuania and Poland), whereas the group of the EU15 coun-tries was dominated by the UK, Spain, Denmark and Germany. The growth ofexports to Switzerland and Poland was dominated by mineral products, to theEU15 countries by base metals and articles of base metals, to Estonia and Lithuaniaby all major export goods, particularly base metals and articles of base metals,and to Russia by all major export goods. Five major export partners of Latvia (theUK, Germany, Estonia, Lithuania and Sweden) received half of Latvia's total ex-ports. The number of countries with which Latvia maintains a foreign trade sur-plus increased.

Since the growth in Latvia's exports to the major EU15 trade partners was moder-ate, in the first quarter, with no increase in exports of wood, the market shares ofLatvia's exporters in these markets contracted year-on-year, expanding in Estoniaand Lithuania due to a significant rise in exports to those markets. The marketshares in all major EU trade partners increased quarter-on-quarter. Growing in-vestment in the export sectors ensured an upturn in their productivity. The shareof goods with a higher value added also continued to expand.

In the first quarter, the terms of trade improved by 3.7%, supporting revenuegrowth from exports, since the year-on-year increase in export unit value (14.2%)exceeded that of imports (10.1%). Although the export price rise was higher, theexport volume also grew more rapidly than the import volume. The quarter-on-quarter increase in the export and import unit value was moderate (4.5% and3.4%, respectively).

Chart 3

EXPORTS AND IMPORTS(year-on-year s; %)change

ExportsImports

140 140

150 150

100 100

110 110

120 120

130 130


2004 2005

40


In the first quarter, the REER continued its downward trend from the middle of2004. It declined by 1.9% quarter-on-quarter and 1.5% year-on-year, preservingcompetitiveness of exporters. In the first quarter, the REER posted a decreaseagainst all major trade partner currencies, including against the currencies of de-veloped partner countries by 1.0% and against the currencies of the three EU10countries and Russia by 3.7%. Nevertheless, the REER against the currencies ofthe major developed trade partner countries increased slightly year-on-year (by0.8%), whereas the markets of the three EU10 countries and Russia displayed anopposite trend, with the REER against the currencies of those countries declin-ing by 5.9%. Although the positive REER developments were driven by a declinein the nominal effective exchange rate of the lats, the quarter-on-quarter decreasein relative prices against the currencies of the three EU10 countries and Russia(by 0.2%) also contributed to depreciation. The decrease was determined by theshrinking of inflation in Latvia in the first months of 2005 and, at the same time,its increase in Estonia, Lithuania and Russia.

In the first quarter, the growth of imports was affected by the persistently highdomestic demand and rapidly growing exports. The highest rise was recorded forimports of mineral products, machinery and mechanical appliances, electricalequipment, agricultural and food products and base metals and articles of basemetals. Imports of wood and articles of wood, and plastics and articles thereofcontinued to expand in the first quarter. Imports volume grew more rapidly thanthe prices. The rise in imports of machinery and mechanical appliances, electricalequipment was underpinned by an increase in volume, imports of base metals andarticles of base metals expanded on account of higher prices, whereas the growthof imports of mineral products, agricultural and food products, and plastics andarticles thereof was affected by both factors.

Latvia's major trade partners in imports were Germany, Lithuania, Russia, Esto-nia, Belarus and Poland. These countries accounted for slightly more than a halfof total imports. The most notable increase was recorded in imports from Lithuania,Russia, Belarus, Poland and Estonia. Imports from Estonia and Poland grew onaccount of various major import goods, whereas mineral products dominated theimport growth from Russia, Lithuania and Belarus.

Balance of Payments

In the first quarter, the current account deficit of the balance of payments was198.0 million lats or 10.7% of GDP (151.8 million lats or 9.5% in the correspond-ing period of 2004). The goods deficit to GDP decreased year-on-year in the firstquarter. The growth of the current account deficit was caused by a decrease in thesurplus of services and current transfers to GDP and a slight increase in the in-come deficit to GDP.

In the first quarter, the services surplus decreased slightly year-on-year, as thegrowth rate of services received (45.8%) was higher than that of services rendered(24.6%). The increase of the transportation surplus (15.2 million lats; mainly dueto a rise in sea transport) did not offset the growth of the travel services deficit(18.8 million lats) and the slight decrease of other services surplus. According tothe data of the Central Statistical Bureau of Latvia, travel services deficit rose dueto a significant increase in spending of travellers from Latvia abroad. The averagelength of trip for travellers from Latvia increased from 2.6 to 3.3 visitor nights,whereas for foreign travellers in Latvia it remained unchanged. The increase inthe number of foreign travellers in Latvia was higher than that of travellers fromLatvia abroad.

41

1 · 2005

The income deficit grew by 8.2 million lats year-on-year in the first quarter, as theincrease of non-resident income in Latvia exceeded that of resident income abroad.The rise in non-resident income in Latvia was dominated by direct investmentincome (28.1 million lats; in the form of reinvested earnings), whereas the growthof portfolio investment and other investment income was more moderate. Resi-dent income abroad increased both in the form of investment income and com-pensation to employees. The growth of investment income was determined byinterest income of banks.

The current transfer surplus decreased by 9.8 million lats year-on-year, becauseof contributions to the EU budget made by Latvia's Government in the first quar-ter (28.5 million lats). The growth of received current transfers was also deter-mined by the Government sector (received EU funds).

The surplus of the capital and financial account amounted to 172.3 million lats.

With foreign direct investment inflows growing significantly, their net inflow cov-ered 52.1% of the current account deficit in the first quarter and reached 5.6% ofGDP. Foreign direct investment in Latvia (116.8 million lats) was made mainly inelectricity, water and gas supply, financial intermediation, trade, manufacturingand transport, storage and communication in the form of reinvested earnings andequity capital.

The higher net outflows in portfolio investment resulted from an increase in resi-dent bank investment in debt securities.

The trends in the current account deficit financing remained unchanged, and itwas dominated by long-term capital. In the first quarter, the current account defi-cit was partly covered also by the net inflow of other investment (149.0 millionlats). Other investment made by residents abroad was modest. Demand depositsof banks abroad increased, whereas short-term loans to non-residents shrank andshort-term trade credit to other sectors grew. Liabilities to non-residents expanded,mainly with banks granting long-term loans to non-residents (parent banks) andattracting demand deposits.

Reserve assets increased by 75.2 million lats in the first quarter as a result of theBank of Latvia's interventions in spot market.

DOMESTIC ECONOMIC ACTIVITY

Aggregate Demand

In the fourth quarter of 2004, the increase in domestic demand (9.7%) and GDPgrowth was driven by the robust private consumption and the rapidly expandinginvestment. It was supported by a rise in foreign investment, as well as the lendinggrowth.

The annual growth rate of private consumption was 8.4% in real terms. It wassupported by an increase in disposable income and employment, as well as thelending growth. The rise in private investment, driving the demand for housinggoods, also contributed to the strengthening of consumption. The Governmentconsumption increased slightly (by 2.0%) in the fourth quarter.

Gross capital formation expanded by 2.4 percentage points (to 32.0% of GDP) inthe fourth quarter, with savings accelerating more rapidly (by 4.0 percentagepoints), whereas the current account deficit shrank by 1.6 percentage points.

42


The steep rise in fixed investment (16.1%) was supported by the lending growthand Latvia's membership in the EU, promoting foreign investment in Latvia. Thelargest investment by volume traditionally has been made in the services sector(particularly in transport, storage and communication and trade), while the mostrapid increase in investment was recorded in the goods-producing sectors. Thelargest investment in the goods sector was made in manufacturing and electricity,gas and water supply.

With the demand in external markets strengthening, the negative impact of netexports on the GDP growth subsided. Exports of goods and services expanded by12.2%, and the growth of imports (13.3%) was also boosted by more vigorousincrease in exports owing to the substantial intermediate goods import compo-nent of exported goods.

Aggregate Supply

In the first quarter of 2005, the growth of the Latvian economy was somewhatslower in comparison with the quarterly indicators of 2004: GDP grew by 7.4%year-on-year, reaching 1 843.3 million lats at current prices. The growth was mostlydriven by the services sector, with the real increase in its value added standing at8.8%. The goods sector developed at a slower pace (3.4%), despite the substan-tial growth of mining and quarrying (23.6%) and construction (16.2%). The totalvalue added of electricity, gas and water supply and manufacturing declined slightly(by 0.2% and 0.1%, respectively).

With output contracting in several major sectors of industry in the first quarter,the manufacturing output in real terms posted a relatively moderate year-on-yearrise (0.9%). The growth in different sectors of manufacturing varied greatly. Pro-duction of several sectors continued to expand rapidly. The volume index increasedin the manufacture of other non-metallic mineral products (by 19.7%), rubberand plastics products (by 12.4%), chemicals, chemical products and man-madefibres (by 11.5%) and other sectors year-on-year. A substantial drop in the outputof manufacture of wood and products of wood and cork (except furniture; 6.3%)resulted from the damage caused by the January storm. In view of the particularlyhigh increase in the output of basic metals in the first quarter of 2004, the volumeindex in the manufacture of basic metals fell by 15.5% in the reporting period. Asubstantial decrease in output was also observed in the manufacture of electricalmachinery and apparatus n.e.c. (17.6%) and that of radio, television and commu-nication equipment and apparatus (10.1%).

Output in mining and quarrying increased at a vigorous pace (by 31.0%) whilethat in electricity, gas and water supply remained almost unchanged due to therelatively warm winter. As a result in the first quarter the seasonally adjustedaggregate volume index of industrial output increased by 1.1% year-on-year.

In the service sector, robust development was observed in trade and transport,storage and communication (an increase of 15.7% and 11.1%, respectively), aswell as financial intermediation (6.4%) and real estate, renting and business ac-tivities (5.1%).

With transit growing, in the first quarter the volumes of transit cargo by rail in-creased by 7.5% year-on-year, pushing the total volume of rail freight up 6.6%.The volume of oil products, the principal transit cargo, shrank by 4.2% year-on-year. The pickup in coal and fertiliser, as well as ferrous metal and timber trans-portation was the major contributing factor to the overall increase.

43

1 · 2005

Despite the high base level, the volume of oil products transported by pipelinegrew by 2.9% in the first quarter.

Cargo turnover at the major ports also posted a moderate increase (2.0% and2.8% at the ports of Ventspils and Riga, respectively). Cargoes handled at theport of Liepâja and the small ports decreased, and the total turnover of Latvianports remained unchanged year-on-year.

In the first quarter, retail trade turnover (including sale of motor vehicles andretail trade in automotive fuel) expanded by 21.0%. Sales volume moved higherin almost all commodity groups (see Chart 4), including those with a substantialacceleration in their growth rate already in 2004. The most notable contributionto the rise in retail trade turnover was on account of a higher sales volume ofautomotive fuel and a rapid increase in the number of motor vehicles purchased.In other commodity groups, the pickup in the sales volume was driven by theexpanding supply, supported by the opening of new shops on the domestic marketand further development of the existing trade network, as well as by the strength-ening of the demand for goods necessary for furnishing homes and business pre-mises. In the first quarter, the turnover of catering services posted a particularlyhigh surge of 44.6% year-on-year.

Chart 4

RETAIL TRADE TURNOVER(annual contribution to real retail trade turnover growth,in percentage points)

Motor vehicles, motorcycles and partsAutomotive fuelFood, beverages and tobacco productsTextiles, clothing and footwearFurniture, household goodsBooks, newspapers, stationery etc.Other retail sales

0

30

25

–5

5

10

15

0

30

25

–5

5

10

15

20 20

III IV V VI X XI XII IIIVII IXVIII III

2004 2005

The economic growth in Latvia was mostly driven by non-financial investment: inthe first quarter its amount in current prices reached 270.6 million lats (a year-on-year increase of 39.1 million lats), including investment in manufacturing (59.5million lats), transport, storage and communication (53.1 million lats) and thetrade sector (33.7 million lats).

Employment, Wages and Salaries

In the first quarter, with GDP increasing, the labour market indicators also im-proved: employment recorded a significant upturn and the rate of jobseekers de-clined. The number of persons employed increased by 13.0 thousand or 1.3%year-on-year, reaching 1 015.4 thousand, and the rate of jobseekers (with theirnumber decreasing by 17.9 thousand persons) shrank by 0.6 percentage points,standing at 9.9% of the economically active population. The rate of jobseekersdecreased as a result of the improving employment, along with the declining eco-nomic activity of the population year-on-year (from 62.4% to 62.2%) and a dropin the number of working age population.

In the first quarter, the registered unemployment rate moved slightly higher quar-ter-on-quarter due to seasonal factors. In the first quarter, the average registeredunemployment rate was 8.6% of the economically active population (8.5% in thefourth quarter of 2004), and the number of the registered unemployed was 92.3thousand (90.9 thousand in the fourth quarter). Nevertheless, unemployment fellby 0.4 percentage point year-on-year as an opportunity to work in other EU coun-

44


tries opened up after Latvia's accession to the EU. Unemployment decreased inJûrmala, Daugavpils and Liepâja. The highest level of unemployment was recordedin Latgale again. In the districts of Ludza and Rçzekne it increased by 0.6 per-centage point (to 28.0%) and 0.1 percentage point (to 26.3%), respectively. Thenumber of registered vacancies posted a considerable increase year-on-year, push-ing down the unemployment/vacancy ratio from 27.9 to 17.8.

In the first quarter, the growth rate of wages and salaries rose. In the nationaleconomy, the nominal gross wage grew by 16.2% (to 226.41 lats) and the nominalnet wage was up 16.8% year-on-year. The rise in the net wage and salary outpacedthat of the gross wage and salary, since the monthly untaxed minimum of personalincome and the personal income tax relief for a dependent person was increasedas of January 1, 2005. The rise in wages and salaries was determined by the pickupof gross wages and salaries in the public sector (18.4%; to 255.34 lats) and theprivate sector (14.7%; to 209.40 lats). In view of the rise in consumer prices in thefirst quarter (6.7%), the real gross wage in the national economy moved up 8.9%year-on-year (including an increase of 11.0% and 7.5% in the public and the pri-vate sectors, respectively) but shrank quarter-on-quarter (by 1.5%).

PRICE DYNAMICS

In the first quarter, the average rate of increase in consumer prices in Latvia was6.7% year-on-year (the same indicator in the previous quarter stood at 7.3%; forchanges in the components of the CPI see Chart 5). Consumer prices increased by1.7% quarter-on-quarter: the rate of increase was higher than in the previousquarter but slower year-on-year.

Chart 5

CHANGES IN ANNUAL CONSUMER PRICE

INFLATION(by component; in percentage points)

Consumer price core inflationFuel pricesAdministratively regulated pricesUnprocessed food prices

2

3

0

8

6

1

4

5

7

2

3

0

8

6

1

4

5

7


20052004

IX III

The most pronounced price rise was observed for fuel (24.7%), some food prod-ucts (fish, meat, dairy products), travel, catering and transportation services. Pricesof communication services continued their downward trend (a decrease of 0.4%and 1.2% quarter-on-quarter and year-on-year, respectively). Clothing and foot-wear prices did not record considerable changes year-on-year, but fell by 7.3%quarter-on-quarter. The impact of administered prices softened considerably asno essential changes were made in administered prices in the major consumptiongroups in the first months of 2005. Hence, the contribution of administered pricesto total inflation in the first quarter did not exceed 0.4 percentage point.

The impact of the supply-side factors on inflation stabilised: a decrease in thecore inflation from 7.2% in the fourth quarter of 2004 to 5.9% in the first quarterof 2005 indicated that (in March, the annual core inflation was 5.4%). Moreover,such a core inflation indicator also comprises some supply-side factors: an indi-rect impact of a rise in costs, e.g. from prices of processed foodstuffs (they main-tained a high pickup of over 8% year-on-year).

45

1 · 2005

In the first quarter, producer prices in mining and quarrying and manufacturingrose (by 3.7% and 2.7%, respectively), remaining unchanged in electricity, gasand water supply. Thus the overall price level in industry increased by 2.3%. Theannual rise in producer prices was 10.5%. It was mostly driven by a rapid pickupin manufacturing prices (12.1%). In the first quarter, the most pronounced pricerise was recorded for the manufacturing of means of production (4.1%), while theyear-on-year increase in the producer prices of means of production and interme-diate goods was 16.4% and 15.1%, respectively.

Construction costs also developed a similar trend. They rose by 2.6% quarter-on-quarter, with building materials and maintenance of machinery and mechanicalappliances becoming more expensive and wages and salaries declining. Construc-tion costs rose by 10.8% year-on-year, including an increase in maintenance costsof machinery and mechanical appliances (15.6%), building material costs (11.0%)and wages and salaries (9.4%).

FISCAL SECTOR

In the first quarter, the financial surplus of the general government consolidatedbudget stood at 43.0 million lats or 2.3% of GDP, slightly higher year-on-year (seeChart 6). The rise in revenue was related to a comparatively large amount offoreign financial assistance, mostly due to EU funds inflows, as well as a notableincrease in tax revenue. Higher expenditure mostly resulted from EU-funds re-lated projects, an increase in the teaching staff salaries, a regular pension index-ation, higher child care allowances and other measures implemented by the Gov-ernment.

Chart 6

FINANCIAL SURPLUS/DEFICIT OF THEGENERAL GOVERNMENT CONSOLIDATEDBUDGET( )at end of period; in millions of lats

Quarterly surplus/deficitSurplus/deficit (from the beginning of the year)

Q2 Q3 Q4Q1 Q2 Q3Q1 Q4 Q1

2003 2004 2005

60

40

20

0

–40

–60

–80

–180

–100

–120

80

–20

–140

–160

60

40

20

0

–40

–60

–80

–180

–100

–120

80

–20

–140

–160

In the first quarter, the general government consolidated budget revenue grew by181.8 million lats or 33.2% year-on-year. Budget revenue stood at 39.6% of GDP,which is 5.4 percentage points higher year-on-year.

In the first quarter, tax revenue grew by 20.5% year-on-year, and its ratio to GDPincreased by 1.4 percentage points. Both direct and indirect tax revenue posted arapid growth. Of direct taxes (both their year-on-year percentage increase andthe ratio to GDP), corporate income tax revenue posted the highest pickup. Itwas driven by the accelerated boost in corporate profit. Despite the increase inthe monthly untaxed minimum of personal income tax payers (from 21 lats to 26lats) and the tax relief for a dependent person (from 10.50 lats to 18 lats) as ofJanuary 2005, the growth rate of personal income tax revenue also remained high.

The increase of indirect tax revenue outpaced that of direct tax revenue. With theexcise tax rates on oil products and tobacco products rising, the excise tax revenuerecorded notable gains. Value added tax revenue also grew rapidly. In Latvia asan EU Member State, customs duty is no longer levied on goods transported within

46


the borders of the EU as of May 2004. Customs tariffs established by the EU areapplied to goods imported from countries outside the EU. Under the impact ofboth these factors, the customs duty revenue shrank year-on-year.

In the first quarter, the general government consolidated budget expenditure in-creased by 173.2 million lats or 33.7% year-on-year, representing a 5.2 percentagepoint increase in its ratio to GDP (to 37.2%). EU funds-related projects was themajor factor accounting for the rapid rise in expenditure. Moreover, a consider-able increase was observed in wages and salaries (the rise in the teaching staffsalaries last September being one of the factors) and in grants to population, mostlyresulting from the pension indexation in October and the rise in child care allow-ances as of January 2005.

In the first quarter, the central government consolidated budget recorded a fi-nancial surplus in the amount of 20.6 million lats. The year-on-year revenue in-crease (32.2%) was slightly lower than that of the total expenditure (33.4%). Rev-enue and total expenditure to GDP grew by 4.1 percentage points and 4.2 per-centage points, respectively.

The financial surplus of the central government social security budget was 11.6million lats in the first quarter. Revenue grew by 14.0% year-on-year, represent-ing a 0.1 percentage point decline in its ratio to GDP, and expenditure increasedby 19.1%. However, 20.0 million lats were repaid to central government in thefirst quarter from 21.9 million lats budgeted for the whole year (of the 23.7 mil-lion lats, repaid into the basic budget of 2004, only 3 million lats had been repaidin the first quarter), the total expenditure of the social security budget increasedby 31.2% (its ratio to GDP improved by 1.2 percentage points), resulting in afinancial deficit of 8.4 million lats.

In the first quarter, the local government consolidated budget recorded a fiscalsurplus of 26.4 million lats. Revenue increased by 33.9% year-on-year, represent-ing a 1.6 percentage point rise in its ratio to GDP, and expenditure increased by28.6%, with the ratio to GDP moving up 1.0 percentage point.

At the end of the first quarter, the debt of the central and local governmentsstood at 1 039.4 million lats, with a quarterly decline of 22.3 million lats. TheGovernment external debt shrank by 3.9 million lats, whereas the domestic debtposted a fall of 17.9 million lats. The external debt decreased on account of theloan of the Export-Import Bank of Japan repaid in March, and the domestic debtcontracted due to the redemption of the government medium term bonds in March.

MONETARY AND FINANCIAL DEVELOPMENTS

Bank Liquidity and the Bank of Latvia's Operations

The lats' peg to the euro strengthened market participants' confidence that theeuro would be introduced in Latvia, and thus reduced the lats risk premium. Withthe repegging of the lats from the SDR currency basket to the euro as of Janu-ary 1, 2005, the potential to conduct monetary policy diminished further mainlywith the arbitrage transactions in the currency pair "lats – peg currency" becomingsimpler and their costs decreasing.

At the end of 2004 and in the first quarter of 2005, the ECB's base rate was belowthe SDR currency basket's base rate, hence with the Bank of Latvia's refinancingrate remaining unchanged, the lats' interest rate and the peg currency's base ratespread increased as a result of the lats' repeg to the euro. Both rise in this spread

47

1 · 2005

and factors reducing interest rate spread on short-term transactions in lats andpeg currency determined that money market rates on transactions of all maturitygroups in lats declined as a result of the lats' repeg to the euro, while interest rateson short-term transactions remained fairly volatile (for key money market inter-est rates see Chart 7).

In the first quarter, the selling of foreign currency to the Bank of Latvia, per-formed by banks already at the end of the previous year, posted a rise. That wasdetermined both by FDI inflows and an increase in lats' interest rate and the ECBbase rate spread and the factors reducing the lats and the euro money marketinterest rate spread, and fostered by an expansion of banks' minimum reserverequirement base as of January 24, 2005 (see Chart 8). In the first quarter, theeuros in the amount of 83.9 million lats were sold to the Bank of Latvia in spottransactions. That was more than needed for meeting minimum reserve require-ments, and the lats money market experienced excess liquidity. Hence the de-mand for the Bank of Latvia's open market operations (repo and currency swapauctions) weakened (see Chart 9). Selling large amounts of euros to the Bank ofLatvia can be explained also by the fact that non-financial corporations and house-holds widely refinanced their loans in lats by those in euro. This process startedalready in the last months of 2004 and picked up at the beginning of 2005.

INTEREST RATES IN THE MONEY MARKET(%)

Chart 7

The Bank of Latvia refinancing rateWeighted average repo rateWeighted average yield on 6-month Treasury billsWeighted average interest rate on resident interbankloans in lats

4.5 4.5

2.0 2.0

2.5 2.5

3.0 3.0

3.5 3.5

4.0 4.0


2004 2005

BANK RESERVES WITH THE BANK OFLATVIA(in millions of lats)

Minimum reserves held in bank accounts with the Bankof LatviaExcess reserves

200

250

100

50

150

0

200

250

100

50

150

0III IV V VI X XI XII IIIVII IXVIII III

2004 2005

Chart 8

Chart 9

BANK OF LATVIA'S MAJOR

INTERVENTIONS IN THE MONEY MARKET(in millions of lats)

Currency purchases (net)Repo loansAutomatic Lombard loansCurrency swaps (net)Time deposits

Demand Lombard loansPurchase of government securities

I II IIIX XIIXI

2004 2005

250

400

50

100

150

200

–150

–100

–50

0

350

300

250

400

50

100

150

200

–150

–100

–50

0

350

300

48


The demand at the Bank of Latvia's repo auctions diminished 12 times quarter-on-quarter (to 60.7 million lats) and the average repo loan balance declined to10.0 million lats. The weighted average interest rate on repo loans with 7-daymaturity increased from 3.75% to 4.00% after the increase in the Bank of Latvia'srefinancing rate in November 2004.

In order to offset the redemption of government securities held by the Bank ofLatvia, the Bank of Latvia purchased government securities in the amount of 23.6million lats on the secondary market.

Due to the excess liquidity of lats, the average balance of time deposits of banksand other financial institutions with the Bank of Latvia increased from 1.0 millionlats in the fourth quarter of 2004, to 21.9 million lats in the first quarter of 2005. InJanuary, the excess liquidity in addition to the foreign currency selling was causedby a substantial decrease in the Government deposits in lats with the Bank ofLatvia in December 2004.

Volatility of short-term interest rates on the lats money market was mainly drivenby overall changes in bank liquidity fostered by minimum reserve requirementgrowth due to the rise in minimum reserve base and the following sale of euro atthe Bank of Latvia in the amount exceeding the increase in banks' minimum re-serve requirements. Hence RIGIBOR reached 4.37% for overnight transactionsat the beginning of February, whereas in the second half of March it declined to2.27%. As a result of the excess liquidity of the lats at the end of the first quarter,the overall money market short-term interest rates differed from the interest rate(2.25%) on banks' 14-day time deposits with the Bank of Latvia only by somebasis points. Money market interest rates, to which interest rates on loans grantedin lats to resident non-financial corporations and households are generally linked(RIGIBOR on 3-month and 6-month loans), recorded a decline (from 4.39% and4.33% in December 2004, to 3.25% and 3.38% in March 2005, respectively).

Dynamics of Monetary Aggregates

In the first quarter, the monetary base M0 increased by 40.5 million lats or 4.2%(to 997.7 million lats). A seasonal decline in demand for cash was observed inJanuary, and currency in circulation diminished by 15.1 million lats. Although amoderate increase was observed in February, it shrank overall by 9.6 million latsor 1.3% in the first quarter. A growth in deposits and the increased minimumreserve requirements following the expansion of bank reserve base determinedthe rise in MFI deposits with the central bank (50.1 million lats).

The expansion of the monetary base was mainly driven by the purchase of foreigncurrency. Thus the Bank of Latvia's net foreign assets increased by 81.3 millionlats, while the backing of the national currency with the central bank's net foreignassets reached 112.3% by the end of March (see Chart 10). The central bank'smoney supply decreased due to a downslide in repo loans (4.4 million lats), anincrease in the Government deposits with the Bank of Latvia (32.4 million lats)and a rise in banks' time deposits with the central bank (30.0 million lats).

In the first quarter, broad money M3 increased by 154.8 million lats: less than inthe previous quarter and substantially more year-on-year. During the quarter, theannual growth rate of M3 picked up substantially (by 2.2 percentage points), reach-ing 29.0% in March.

Money supply (for money supply aggregates see Chart 11) was mainly determinedby an increase in overnight deposits (91.5 million lats) as well as a substantial risein deposits with an agreed maturity of up to two years (55.8 million lats). In the

49

1 · 2005

BACKING OF THE NATIONAL CURRENCY(in millions of lats)

Chart 10

Net foreign assets of the Bank of LatviaMonetary base

400

500

600

700

800

1 000

900

1 200

1 100

300

0

100

200

400

500

600

700

800

1 000

900

1 200

1 100

300

0

100

200


20052004

IX III

Chart 11

MONEY SUPPLY INDICATORS IN LATVIA( )in billions of lats

M2XM2DM1 (Bank of Latvia)M3M2M1 (ECB)

2.5

3.5

3.0

1.0

1.5

2.0

2.5

3.5

3.0

1.0

1.5

2.0

IV V VI X XI XII III IIIVII VIII

2004 2005

IX

reporting quarter moderate growth of deposits redeemable at notice and debtsecurities was observed, while currency outside MFIs shrank slightly. As a resultof a more buoyant rise in the most liquid aggregates of M1, its annual growth rateposted a higher increase than the growth rate of broad money aggregates (4.1percentage points; to 29.7%) in the first quarter.

In March, the annual growth rate of deposits in foreign currencies (40.7%) was by4.5 percentage points higher than in December (see Chart 12). The annual growthrate of deposits in lats, by contrast, decelerated from 32.8% to 30.2%. At the endof December 2004 and March 2005, with the share of deposits in US dollars reach-ing 42.0% and 41.4%, respectively, deposits in euro accounted for 55.8% and 55.9%of resident non-MFI deposits, respectively (see Chart 13). Regarding the break-down by depositor, deposits of households, financial institutions and non-finan-cial corporations posted a fairly similar rise (76.9 million lats and 74.5 million lats,respectively). Both overnight deposits and short-term deposits reported a similarincrease (see Chart 14). Overall, in March the annual growth rate of depositsreceived from financial institutions, non-financial corporations and householdsremained at the level recorded in December (34.1%). As a result of a surplus inthe central government budget, the general government deposit with MFIs roseby 20.5 million lats.

Chart 12

CHANGES IN DEPOSITS OF RESIDENT

FINANCIAL INSTITUTIONS, NON-FINANCIAL

CORPORATIONS AND HOUSEHOLDS(year-on-year changes; %)

Total depositsDeposits in latsDeposits in foreign currency

50

10

20

30

40


20052004

50

10

20

30

40

50


In the first quarter, the MFI loan portfolio, mainly long-term loans, posted a fur-ther increase (see Chart 15). It was facilitated by the income growth as well as lowlending rates. In the first quarter, mortgage lending and industrial credit expandedbuoyantly (by 195.7 million lats or 14.1% and 101.5 million lats or 14.1%, respec-tively). Moreover, the rise in mortgage lending accounted for 47.4% of the overalllending expansion. The rapid rise in mortgage loans was fostered by banks strivingto attract new customers (banks offered more favourable conditions for loans forhouse purchase or renovation) as well as construction and real estate market de-velopments. However, given the high base, the annual growth rate of mortgageloans declined to 76.2% in March (80.2% in December 2004). In the first quarter,commercial credit marked a more buoyant increase (242.1 million lats), but thispickup was partly determined by reclassification of loans (as of January 1, 2005,bank overdrafts are recorded according to the type of loan taken; for monthlybalances of major loans see Chart 16).

Chart 14

1 100

1 005

1 003

100

300

500

700

900

1 100

1 005

1 003

100

300

500

700

900

DEPOSITS OF RESIDENT

FINANCIAL INSTITUTIONS, NON-FINANCIAL

CORPORATIONS AND HOUSEHOLDS WITH

BANKS(at end of period; in millions of lats)

Demand depositsShort-term depositsLong-term deposits


20052004

Chart 15

LOANS TO RESIDENT FINANCIAL

INSTITUTIONS, NON-FINANCIAL

CORPORATIONS AND HOUSEHOLDS( )at end of period; in millions of lats

Long-termShort-term

500

2 500

3 000

4 000

3 500

0

1 500

2 000

1 000

500

2 500

3 000

4 000

3 500

0

1 500

2 000

1 000


20052004


1 000

2 500

2 000

500

1 500

3 000

0

1 000

2 500

2 000

500

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3 000

0

20052004

Chart 13

DEPOSITS OF RESIDENT NON-MFIs BY

CURRENCY(at end of period; in illions of lats)m

Deposits in latsDeposits in US dollarsDeposits in euroDeposits in other currencies

In the first quarter, rise in the loans granted to financial institutions and non-financial corporations was higher than that of the loans granted to households(247.9 million lats and 165.7 million lats, respectively), hence the annual growthrate of lending to financial institutions and non-financial corporations increasedto 38.5%, whereas that of lending to households declined to 74.0%. Overall in thefirst quarter, loans granted to resident financial institutions, non-financial corpo-

51

1 · 2005

rations and households rose by 413.6 million lats, moreover, the pickup was par-ticularly notable in March (178.3 million lats). The annual growth rate of lendingaccelerated from 47.0% in December 2004 to 49.5% in March 2005 (see Chart 17).

Chart 16

LOANS TO RESIDENT FINANCIAL

INSTITUTIONS, NON-FINANCIAL

CORPORATIONS AND HOUSEHOLDS(at end of period; excluding transit credit; in millions of lats)

Commercial creditIndustrial creditConsumer creditMortgage loansOther credit


1 000

2 500

2 000

500

1 500

4 005

4 000

3 000

0

3 500

1 000

2 500

2 000

500

1 500

4 005

4 000

3 000

0

3 500

20052004

Chart 17

CHANGES IN LOANS GRANTED TO

RESIDENT FINANCIAL INSTITUTIONS,

NON-FINANCIAL CORPORATIONS AND

HOUSEHOLDS(year-on-year changes; %)

Total loansGranted to financial institutions and non-financialcorporationsGranted to households 20

60

80

90

40

70

50

30

20

60

80

90

40

70

50

30


20052004

Growth in loans granted in foreign currencies (an increase of 436.5 million lats)accounted for almost the entire rise in lending, with loans in lats slightly declin-ing. Thus, the annual growth rate of foreign currency loans climbed to 74.4% inMarch, while that of the lats loans shrank to 18.1%. The share of the euro inforeign currency loans granted to resident non-MFIs expanded from 52.4% at theend of December 2004, to 64.4% at the end of March 2005 (see Chart 18). Loansgranted in euro recorded a rise mainly due to the lats repegging to the euro, de-termining an increase in foreign exchange risk for borrowing in US dollars, aswell as due to lower lending rates on loans granted in euro.

Growth was most pronounced in loans to financial institutions and non-financialcorporations in real estate, renting and business activities (28.0%); mining andquarrying (18.7%), construction (16.7%) and financial intermediation (14.4%).Lending to four sectors accounted for almost two thirds of the total loans: realestate, renting and other business activities (18.8%), trade (16.8%), financial in-termediation (16.4%) and manufacturing (14.2%).

Chart 18

BREAKDOWN OF LOANS GRANTED TO

RESIDENT NON-MFIs BY CURRENCY(at end of period; in millions of lats)

In latsIn US dollarsIn euroIn other currencies


1 000

2 500

2 000

500

1 500

4 005

4 000

3 000

0

3 500

1 000

2 500

2 000

500

1 500

4 005

4 000

3 000

0

3 500

20052004

52


Chart 20

INTEREST RATES ON DEPOSITS

ATTRACTED FROM RESIDENT

NON-FINANCIAL CORPORATIONS AND

HOUSEHOLDS(%) 3.0 3.0

4.0 4.0

4.5 4.5

3.5 3.5

1.0 1.0

1.5 1.5

2.0 2.0

2.5 2.5

Non-financial corporation time deposits (in lats)Household time deposits (in lats)Non-financial corporation time deposits (in foreigncurrency)Household time deposits (in foreign currency)


20052004

Chart 19

INTEREST RATES ON LOANS GRANTED TORESIDENT NON-FINANCIALCORPORATIONS AND HOUSEHOLDS(%)

Loans to non-financial corporations (in lats)Loans to households (in lats)Loans to non-financial corporations (in foreigncurrency)Loans to households (in foreign currency)

8

10

9

4

5

6

7

8

10

9

4

5

6

7


20052004

At the end of March, loans granted to resident financial institutions, non-finan-cial corporations and households amounted to 56.3% of GDP or 49.2% of theMFI assets (an increase over the end of December 2004).

In the first quarter, with a decreasing demand for funds from the general govern-ment sector, net credit of MFIs to the general government shrank by 64.9 millionlats or 37.4%. Foreign funding still posted expansion. Net foreign assets of MFIsdeclined further by 166.6 million lats, including the decline of net foreign assets ofMFIs (excluding the Bank of Latvia) by 247.9 million lats, as credit institutionsattracted more funds abroad than placed there. An increase in MFI (excluding theBank of Latvia) foreign liabilities was affected by significant borrowing from for-eign banks (in the first quarter, a pickup of 193.8 million lats, including 165.7 mil-lion lats from parent banks) and a rise in non-MFI overnight deposits (176.6 mil-lion lats). The banking sector's foreign assets posted moderate growth, with loansgranted to foreign non-MFIs and the portfolio of debt securities issued by theseinstitutions expanding (by 77.6 million lats and 44.4 million lats, respectively).

INTEREST RATES

In the first quarter, interest rates on new loans in lats and euro continued to fol-low a downward trend, whereas those granted in US dollars posted a rise (forinterest rates on loans in lats and foreign currencies see Chart 19). Interest rateson new deposits posted a decline in the first quarter (for interest rates on depositsin lats and foreign currencies see Chart 20). Overall, interest rate developmentsreflected changes in money market interest rates. The downward trend of interestrates in some segments was fostered by several banks striving to increase theirmarket share.

Loans with a fixed interest rate granted to resident non-financial corporations andhouseholds continued to expand. Nevertheless, the majority of new loans to house-holds (85.5%) and non-financial corporations (85.1%) were with a floating inter-est rate and initial interest rate fixation period of up to one year.

53

1 · 2005

In the first quarter, interest rates on loans with a floating interest rate and initialinterest rate fixation period of up to one year, granted to households for housepurchases in lats, continued to decelerate (to 7.1%), whereas those granted in USdollars posted a rise (to 6.0%) and loans granted in euro on average remained inthe level of the previous quarter (5.0%). In the first quarter, the average interestrates on consumer loans with a floating rate and initial interest rate fixation pe-riod of up to one year granted in lats amounted to 12.9%, those granted in euro –5.4% and in US dollars – 8.3%, whereas those on other loans granted to house-holds accounted for 4.8%, 4.3% and 6.0%, respectively.

Interest rates on larger loans to non-financial corporations with floating interestrates and with initial interest rate fixation period of up to one year were lowerthan those on the respective smaller loans. In the first quarter, the average inter-est rate on loans granted in lats (in the amount below 200 thousand euros) was7.9% (a 0.5 percentage point decline quarter-on-quarter), while the average in-terest rate on larger loans amounted to 6.8% (a 0.3 percentage point rise).

In the first quarter, most resident non-financial corporation and household de-posits with an agreed maturity were attracted with a maturity of up to one year.Non-financial corporations and households deposited their funds primarily in latsdue to an interest rate spread on deposits in lats and other currencies. In the firstquarter, the weighted average interest rate on short-term deposits attracted inlats and euro declined by 0.2–0.4 percentage point quarter-on-quarter (to 3.2%and 2.0%, respectively), whereas that on short-term deposits attracted in US dol-lars grew by 0.4 percentage point (to 2.4%). On average, interest rates on depositsattracted for a longer term were 0.5–1.5 percentage points higher, and their changeswere similar to those of short-term deposit interest rates.

SECURITIES AND FOREIGN EXCHANGE MARKET DEVELOPMENTS

In the first quarter, the Treasury organised one 6-month Treasury bill and two 5-year Treasury bond multi-price (competitive) auctions in the primary market, andthe total supply amounted to 36.0 million lats. Demand exceeded supply 3.1 timesand the entire supply was sold. The amount supplied (9 million lats) was sold atfixed rate auctions organised at the LCD.

In line with a decline in interest rates of the lats money market, the average yielddiminished at the auctions in the primary market of government securities: inJanuary 2005, the weighted average discount rate of 6-month Treasury bills was by31 basis points (3.12%) lower than at the previous auction held in December 2004,and the weighted average yield rate of 5-year Treasury bonds was by 134 basispoints (3.30%) lower than at the auction held in January 2003 and by 20 basispoints lower than at the auction held in February 2005.

The amount of new securities issue was lower than the amount of previously is-sued securities redemption, and the amount of Latvian government securitiesoutstanding decelerated by 4.2% (to 407.8 million lats) in the first quarter.

At the end of the first quarter, Latvian banks (with 46.7%), the Bank of Latvia(with 24.5%) and the rest of the residents (with 23.2%) were the major holders ofthe government securities. Major changes were observed in Latvian banks' securi-ties portfolio quarter-on-quarter. The stock of this security portfolio dropped dueto the redemption of securities and the Bank of Latvia's interventions in the gov-ernment securities secondary market (from 50.5% to 46.7%).

The bid rate quoted for 10-year Treasury bonds (redemption in 2014) on the RSE

54


shrank from 4.45% at the end of the fourth quarter of 2004 to 3.89% at the end ofthe first quarter of 2005. The yield rate of the Treasury bills (redemption in Octo-ber 2005) declined from 3.38% to 2.38%, respectively.

The bid rate on 10-year bonds of the state JSC Latvijas Hipotçku un zemes banka(redemption in 2013) diminished from 5.22% to 5.20% on the RSE. A moderatedecline in securities yields, compared with the fall in government securities dis-count rate and yield rate, is due to a lower liquidity of corporate debt securities onthe secondary market.

In the first quarter, the total turnover of debt securities on the RSE was 2.0 mil-lion lats (an 11.0% quarter-on-quarter increase), remaining low compared to theturnover before the implementation of the new trading system SAXESS at theend of September 2004.

In the first quarter, the stock of outstanding corporate debt securities denomi-nated in lats and registered with the LCD decreased: the amount of redeemedsecurities exceeded that of a new debt securities issue. Securities issued by twobanks were redeemed in the amount of 10.9 million lats, whereas two banks is-sued new securities in the amount of 8.0 million lats with redemption in 2010 and2008, respectively.

In the first quarter, a rise in the RSE capitalisation index RIGSE slowed downquarter-on-quarter (an 8.0% increase; 20.2% in the forth quarter of 2004), whilethe growth rate was still relatively buoyant. The growth rate of the Baltic coun-tries' stock market index BALTIX remained unchanged in the first quarter (15.1%).A rise in share prices on the Latvian stock market was fostered by joint stockcompanies publishing their financial statements, indicating that overall the jointstock companies quoted on the RSE had earned profit in 2004, and by an offerfrom Sweden's Swedbank to repurchase the Estonian Hansapank shares.

In the first quarter, the stock trading activity on the RSE increased to 11.3 millionlats (except an initial offering of three joint stock companies listed on the freelist). Transactions with JSC SAF Tehnika stock accounted for the most substantialshare (30%) of the total turnover of stock.

In order to facilitate trading with the joint stock companies' shares listed on thefree list, the RSE cancelled 15% price fluctuation restriction for the joint stockcompanies' shares listed on this list as of January 1, 2005, and the turnover of thejoint stock companies' shares listed on the free list grew almost twofold quarter-on-quarter.

The repegging of the lats from the SDR currency basket to the euro proceededsmoothly and without disturbances. As previously, the lats exchange rate againstthe peg currency both at the moment of pegging and thereafter was close to thepeg currency purchase rate set by the Bank of Latvia. In the first quarter, theexchange rate of the lats against the euro, quoted on the interbank market, was by0.0001 higher on average than the Bank of Latvia's purchase rate for the euro(0.6958).

Following the lats pegging to the euro, the lats exchange rate against other majorcurrencies fluctuated in line with changes in the euro exchange rate against thesecurrencies (for the Bank of Latvia's exchange rate set for the US dollar and theeuro see Chart 21). In the first quarter, the US dollar appreciated against the latsby 5.2% (to 0.543 lats per one US dollar), the Japanese yen by 1.4% and theBritish pound sterling by 2.4%.

In the first quarter, Latvian credit institutions' currency exchange transactions

55

1 · 2005

diminished both year-on-year (by 15.0%) and quarter-on-quarter (by 21.0%) dueto seasonal and several one-off factors. Prior to the lats repegging from the SDRcurrency basket to the euro, the volume of currency transactions in order to con-tain risk increased, thereby substantially affecting a rise in currency transactionturnover in December 2004, and a slowdown at the beginning of 2005. Additionalfactor, having a possible adverse effect on the total turnover of foreign exchangetransactions, was the Russian public holidays extended in January, unlike previ-ous years. Thus, although the amount of foreign exchange transactions rose againin March, overall it declined in the first quarter. The total amount of foreignexchange transactions by currency indicated that the amount of transactions inUS dollars posted a substantial decline both year-on-year (13.0%) and quarter-on-quarter (24.0%). The amount of transactions in Russian rubles shrank morenotably, while that of transactions in the euro reported a moderate decline (by2.4% and 5.5%, respectively). In the first quarter, the amount of cash and cashlessforeign exchange transactions in lats grew 1.6 times (to 7.9 billion lats) year-on-year, declining by 16.2% quarter-on-quarter.

MFI DEVELOPMENTS

At the end of the first quarter, 56 MFIs (excluding the Bank of Latvia), including22 banks, the Latvian Branch of Nordea Bank Finland Plc, 32 credit unions andone electronic money institution, were registered in the Republic of Latvia.

At the end of the first quarter, the total paid-up share capital of banks and creditunions was 389.4 million lats (1.2% more than at the end of 2004). The share offoreign investment in the paid-up share capital increased by 0.6 percentage point(to 58.3%).

In comparison with the end of 2004, all major MFI indicators continued to im-prove: assets (excluding trust assets) increased by 7.5% (to 8 443.2 million lats),loans (including transit credit) grew by 11.4% (to 4 883.7 million lats) and depos-its rose by 5.8% (to 5 394.6 million lats).

The unaudited profit of MFIs for the first quarter was 51.1 million lats (a 2.1times increase year-on-year). Capital and reserves increased by 34.9 million latsand reached 665.3 million lats at the end of the first quarter.

Profitability indicators posted a substantial improvement. At the end of the firstquarter, the ROE was 31.7% and the ROA was 2.5% (21.4% and 1.7% at the endof 2004, respectively). The capital adequacy ratio remained unchanged, as com-pared with the end of 2004 (11.7%).

In the first quarter, major sources of bank income remained unchanged. Thesesources were interest income on loans to non-MFIs (44.3% of banks' total in-

Chart 21

EXCHANGE RATES OF THE US DOLLAR AND

THE EURO SET BY THE BANK OF LATVIA(in lats)

Exchange rate of the US dollarExchange rate of the euro 0.50

0.55

0.75

0.60

0.65

0.50

0.55

0.75

0.60

0.65

0.70 0.70

IV V VII VIIIVI IX

2004 2005

X XI XIIIII IIIIII

56


Chart 23

M2 TIME SERIES(at end of period; in billions of lats)

Seasonally non-adjusted dataSeasonally adjusted data

1.0

2.0

1.4

1.6

1.8

2.2

0.8

2.6

3.0

2.4

1.2

2.8

1.0

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1.6

1.8

2.2

0.8

2.6

3.0

2.4

1.2

2.8

1998 1999 2001 2002 20032000 20052004

Chart 24

M3 TIME SERIES( )at end of period; in billions of lats


1.0

2.0

1.4

1.6

1.8

2.2

0.8

2.6

3.0

2.4

1.2

2.8

1.0

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1.6

1.8

2.2

0.8

2.6

3.0

2.4

1.2

2.8

1998 1999 2001 2002 20032000 20052004

come) and commissions (20.5%). The income from interest on claims on MFIsposted a slight rise, reaching 7.5% of total income. Due to a lump-sum paymentof bank subsidiary's dividends, the share of income from dividends rose substan-tially (to 6.5%).

Although lending increased, the quality of loans remained high in the first quar-ter. The share of non-performing loans in the total loan portfolio remained 1.1%.

As at the end of 2004, the amount of specific provisions for loans to non-MFIsformed 1.1% of the total loans to non-MFIs. Specific provisions for loans to non-MFIs covered 98.2% of the non-performing loans at the end of the first quarter.

SEASONAL ADJUSTMENT OF MONETARY AGGREGATES

As of the first quarter of 2005, the Bank of Latvia publishes seasonally adjustedtime series of the monetary aggregates M1, M2 and M3, calculated on the basis ofthe ECB methodology.

The analysis of the dynamics of the monetary aggregates M1, M2 and M3, madewith the software "DEMETRA Version 2.04", is shown in Charts 22–33. See theBank of Latvia's Monetary Review for the methodology applied to the seasonaladjustment of such aggregates (Issue No. 1, 2004, p. 53–57).

Chart 22

M1 TIME SERIES( )at end of period; in billions of lats


1.0

1.2

0.6

0.8

2.2

1.8

1998 1999 2001 2002 20032000 20052004

2.0

1.4

1.6

1.0

1.2

0.6

0.8

2.2

1.8

2.0

1.4

1.6

57

1 · 2005

Chart 25

M1 DYNAMICS(year-on-year changes; %)

Time series trendSeasonally adjusted time series

10

15

–5

20

0

5

30

25

10

15

–5

20

0

5

30

25

1999 2001 2002 20032000 20052004

Chart 26

M1 DYNAMICS( )year-on-year changes; %; detailed overview


26 26

20 20

28 28

22 22

14 14

16 16

18 18

30 30

24 24

2002 2004

IXXII VIIII

2003 2005


Chart 27



10

25

15

–5

30

20

0

5

1999 2001 2002 20032000 20052004

10

25

15

–5

30

20

0

5

Chart 28

M2 DYNAMICS(year-on-year changes; %; detailed overview)


2002 2004

IXXII VIIII

2003 2005


23 23

17 17

25 25

19 19

29 29

15 15

27 27

21 21

Chart 29



1999 2001 2002 20032000 20052004

10

25

15

–5

30

20

0

5

10

25

15

–5

30

20

0

5

58


LATVIA'S PAYMENT STATISTICS

As in previous years, payment services in 2004 were rendered by banks registeredin Latvia, one branch of a foreign bank and the Bank of Latvia (hereinafter – thebanking system) as well as the non-profit organisation state JSC Latvijas Pasts(hereinafter Latvijas Pasts). Several companies, mainly fuel companies, contin-ued to issue single purpose retailer cards and service payments made with thesecards in 2004.

The number of customer accounts opened within the banking system and Latvijas

M : SCOPE AND STABILITY OF THE

SEASONAL FACTORS' IMPACT

3

(January 1998–March 2005; %)

Chart 33


106

104

96

100

98

102

106

104

96

100

98

102

Chart 30

M3 DYNAMICS(year-on-year changes; %; detailed overview)

Time series trendSeasonally adjusted time series 14

30

26 26

16 16

14

20 20

18 18

22 22

24 24

30

28 28

2002 2004

IXXII VIIII

2003 2005


Chart 31

M1: SCOPE AND STABILITY OF THE

SEASONAL FACTORS' IMPACT(January 1998–March 2005; %)

106 106

104 104

96 96

100 100

98 98

102 102


M2: SCOPE AND STABILITY OF THE

SEASONAL FACTORS' IMPACT(January 1998–March 2005; %)

Chart 32


106 106

104 104

96 96

100 100

98 98

102 102

59

1 · 2005

Pasts and deposits accessible therein continued to expand. The use of customercashless payment instruments posted a rise in all positions, except payments viaLatvijas Pasts. An increase in the number of customer cashless payment instru-ments was determined by the volume of credit transfers and payments executedby payment cards. In 2004, payment cards were for the first time more frequentlyused for executing payments rather than for cash withdrawals from ATM. Indi-viduals increasingly used ATMs for cash transactions rather than bank or LatvijasPasts cash desks. Direct debit payment instruments, still not very popular in Latviaas compared with other EU countries, posted the highest growth.

Number of Customer Accounts and Their Balances

In 2004, customer accounts were serviced by 22 banks and one branch of a foreignbank (hereinafter – banks) as well as the Bank of Latvia and Latvijas Pasts. Banksopened 10 new branches, whereas the Bank of Latvia closed one branch in 2004.The number of Latvijas Pasts branches and offices remained unchanged and com-prised more than a half (60.9%) of the entire number of branches within the Latvianbanking system and Latvijas Pasts in 2004.

In 2004, the number of customer accounts opened within the banking system in-creased by 8.9% and reached 2.4 million. Deposit balance (credit balance) onthese accounts posted a higher rise. At the end of 2004, deposit balance was 37.5%higher year-on-year and reached 3.4 billion lats. As the bank diverse lending sup-ply continued to expand, customers increasingly used bank loans for settlements,e.g., payments by payment cards. Hence customers' account overdraft (debit bal-ance) rose by 65.5% (to 201.2 million lats). However, its share in total funds avail-able on the customers' accounts was only 5.5%. In 2004, the number of customeraccounts opened with Latvijas Pasts rose by 15.1% and reached 109.2 thousand,while the account balance therein accounted for 6.2 million lats at the end of 2004(a year-on-year increase of 55.0%).

At the end of 2004, the average deposits on customers' accounts within the bank-ing system was 1 429.44 lats and the used overdraft – 83.73 lats. The average de-posits on the customer's account with Latvijas Pasts accounted for 56.78 lats at theend of 2004.

The Use of Customers' Cashless Payment Instruments

In 2004, with customers using cashless payment instruments, the volume of trans-actions expanded by 20.1% (to 111.5 million; see Chart 34). The value of suchpayments rose by 23.7% (to 273.9 billion lats; see Charts 35 and 36). During theyear, on average 48.2 customer cashless payments per capita were processed inLatvia. Payments in lats accounted for 92.7% (103.3 million) of the entire transac-tion volume, while payments in foreign currencies reported a higher total transac-tion value (82.5%; 225.9 billion lats).

Chart 34

VOLUME OF CUSTOMER CASHLESS

PAYMENT INSTRUMENTS( )in millions

1. In lats2. In foreign currencies

Customer credit transfersPayments by payment cards (bank and retail )Debit transactions (cheques, direct debit, postal directdebit)Credit transfers via (postal payments)

er

Latvijas Pasts

1 02

1 00

20

80

0

60

40

1 02

1 00

20

80

0

60

40

2000

21

2001

21

2002

21

2003

21

2004

21

60


In 2004, credit transfers executed by the banking system accounted for the major-ity of customer cashless payment instruments (50.1% and 99.6% of the total vol-ume and value). The volume of credit transfers increased by 18.6% (to 55.9 mil-lion), and their value rose by 23.7% (to 272.7 billion lats). An expansion in thevolume of credit transfers executed by the banking system resulted from an in-crease in the volume of payments executed via Internet banking (74.4%; to 12.8million). In 2004, the volume of payments via Internet banking for the first timeexceeded that of electronic banking transactions. The value of payments made viaInternet banking rose by 67.9% (to 105.0 billion lats), and 1.8 times exceeded thatof electronic banking transactions.

Of all customer cashless payments, 21.3 million or 19.1% were executed throughLatvijas Pasts, and their total value accounted for 559.6 million lats or 0.2% ofcustomer cashless payment value. Payments made via Latvijas Pasts were executedin the national currency. In 2004, 68.2% or 14.5 million electronic payments (ayear-on-year increase of 0.9%) were made via Latvijas Pasts. The volume of pro-cessed paper-based payments declined by 7.4% (to 6.8 million), hence the totalvolume of payments executed via Latvijas Pasts shrank by 1.9%. Of paper-basedpayments, Latvijas Pasts mainly processes those related to the State Social Insur-ance Agency's state pension and social benefit payments in the regions of Latvia.

In 2004, the volume of payments made by bank payment cards and retailer cardsposted a substantial rise (41.8%), thus increasing the share of such payments inthe structure of customer cashless payment instruments. Of all customer cashlesspayments, 33.5 million payments or 30.0% were executed by payment cards. Pay-ments made by bank payment cards accounted for 88.2% (29.5 million) of thetotal volume of payments by payment cards and 84.0% (454.4 million lats) of thetotal value of payments by payment cards, while payments made by single-pur-pose retailer cards accounted for 11.8% (4.0 million) and 16.0% (86.8 millionlats), respectively. In 2004, the average value of one transaction executed by bankpayment card was 15.39 lats (a 2.0% decrease year-on-year). This confirms thatindividuals increasingly pay for minor daily purchases by bank's payment card.

Chart 35

CUSTOMER CREDIT TRANSFERS1

(in billions of lats)


Customer credit transfers accounted for more than 99% of total value in 2000 2004.–1

250

2 00

50

150

0

100

250

2 00

50

150

0

100

2000

21

2001

21

2002

21

2003

21

2004

21

Chart 36

VALUE OF CASHLESS PAYMENT

INSTRUMENTS OF OTHER CUSTOMERS(in billions of lats)

1 0.

0.2

0.8

0

0.6

0.4

1 0.

0.2

0.8

0

0.6

0.4

Payments by payment cards (bank and retailer)Debit transactions (cheques, direct debit, postal directdebit)Credit transfers via (postal payments)Latvijas Pasts

2000

21

2001

21

2002

21

2003

21

2004

21


61

1 · 2005

The average value of a transaction conducted by retailer card rose by 14.2%, partlydetermined by an increase in fuel prices in 2004.

Comparison of the structure of customer cashless payment instruments used inLatvia with the average ratios of the euro area countries confirms that most pay-ments are executed via credit transfers both in Latvia and euro area countries. In2003, the share of credit transfers in Latvia accounted for 74.1% (see Chart 37)and that of the euro area countries was 31.5% on average, as direct debits andpayments by cheques are more frequently used in the euro area countries than inLatvia.

Chart 37

CUSTOMER CASHLESS PAYMENT

INSTRUMENTS(percentage)

Credit transfersDirect debitE-money paymentsChequesPayments by payment cards

1. Payment instruments used in Latvia2. Payment instruments used in the euro area1

Source: Payment and securities settlement systems in the European Union Addendum incorporating 2003 figures (Blue Book).1

1 00

20

80

0

60

40

1 00

20

80

0

60

40

2000

2.1.

2001

2.1.

2002

2.1.

2003

2.1.

2004

1.

In 2004, the share of credit transfer volume (the banking system's customer credittransfers and payments via Latvijas Pasts) declined to 69.2% in Latvia, as the vol-ume of payments made by payment cards posted a buoyant growth. Of all cus-tomer cashless payments, 30.0% were made by payment cards, exceeding the av-erage ratio (28.2%) of the euro area countries for 2003. In 2004, the share ofcredit transfer value in the structure of customer cashless payment instrumentsremained at 99.8% in Latvia (93.3% in the euro area countries in 2003 on aver-age).

Although the volume and value of direct debits executed in the Latvian bankingsystem in 2004 reported the steepest rise in the range of payment instrumentsoffered (2.2 times and 2.1 times or 814.2 thousand and 33.4 million lats, respec-tively), the share of direct debits in Latvia's payment system is quite insignificantin comparison with the average ratio of the euro area countries. In 2004, directdebits executed by banks and Latvijas Pasts accounted for only 0.7% of total vol-ume of customer cashless payment instruments in Latvia, while their average vol-ume accounted for 27.3% in the euro area countries already in 2003. The share ofpayments by cheques rates among the lowest in Latvia. In 2004, of total volumeand value of customer cashless payment instruments, the share of volume andvalue of payments by cheques was only 0.05% and 0.006%, respectively, in Latvia.With the share of payments by cheques declining in customer cashless paymentsystem in the euro area countries, in 2003 it accounted for 11.9% on average,mainly due to a large share of payments by cheques in the national payment sys-tem of France.

Cash Transactions

In 2004, the total volume and value of cash deposits and withdrawals grew by5.5% and 14.9%, respectively. Cash deposits and withdrawals within the bankingsystem and Latvijas Pasts reached 80.5 million transactions in the total value of17.7 billion lats (see Charts 38 and 39).

62


In 2004, with cash deposits and withdrawals declining in cash desks of banks andLatvijas Pasts by 5.2% and 3.5%, respectively, and cash withdrawals from ATMsposting a buoyant rise, 40.3% (32.4 million) of the total volume of cash depositsand withdrawals and 9.1% of their total value were already performed via ATMs.This indicates that individuals are increasingly using ATMs rather than bank orLatvijas Pasts cash desks to withdraw cash for daily needs. Cash deposits and with-drawals from banks' cash desks accounted for the highest value (87.9%; 15.6 bil-lion). Although the share of Latvijas Pasts branches is significant, the volume andvalue of cash transactions has been the lowest there: 28.2% (22.7 million) and3.1% (547.5 million), respectively. Services by ATMs and Latvijas Pasts are mostlyused by individuals for minor transactions, while trade companies' cash collectiontransactions and cash payments to companies for employees' wages and salariescomprise the majority of cash deposit and withdrawal value in banks.

Bank Payment Cards and Retailer Cards, Automated Teller Machines andPoints of Sale and Their Networks

In 2004, payment cards were issued by 22 banks and 17 companies in Latvia. Thenumber of payment cards increased by 14.0%, reaching 1.4 million. As comparedwith 2003, the number of payment cards issued by banks grew by 11.7% and thatof single-purpose retailer cards rose by 54.0%. In 2004, most payment cards (92.7%)were payment cards issued by banks. At the end of 2004, 615 bank payment cardsand 45 retailer cards were issued per 1 000 inhabitants. During the year, 22.5payments, 24.7 withdrawals from ATMs and 0.6 funds transfers from ATMs weremade by a bank's payment card on average. On average, 38.2 payments were ex-ecuted by a single-purpose retailer card. Cash withdrawals or other transactionscannot be performed with this card.

Of all payment cards in circulation, debit cards and debit cards with overdraftfacility accounted for 93.2%, while credit cards were only 3.8%. Debit cards anddebit cards with overdraft facility accounted for 95.9% (1.3 million) in the totalnumber of bank payment cards. At the end of 2004, the number of retailer debitcards and credit cards was 59.9% (61.9 thousand) and 40.1% (41.5 thousand),respectively. The share of credit cards in the total number of retailer cards is

Chart 38

VOLUME OF CASH DEPOSITS AND

WITHDRAWALS(in millions)

Cash ts to and withdrawals from

cash deposits and withdrawals

deposi bank cash desksWithdrawals from ATMLatvijas Pasts'

90

30

15

75

0

60

45

90

30

15

75

0

60

45

2000 2001 2002 2003 2004

Chart 39

Cash

cash deposits and withdrawalsWithdrawals from ATMLatvijas Pasts'

deposits to and withdrawals from bank cash desks

VALUE OF CASH DEPOSITS AND

WITHDRAWALS( )in billions of lats

9

3

18

0

6

2000 20042001 2002 2003

15

12

9

3

18

0

6

15

12

63

1 · 2005

higher than in the total number of bank payment cards, as companies are activelyoffering single-purpose credit cards in order to attract customers.

In 2004, the number of ATMs and POSs grew by 0.8% (to 875) and 15.8% (to 11.9thousand), respectively. At the end of 2004, ATM networks were operated by thelimited liability company Banku servisa centrs and four banks. POSs and theirnetworks were operated by two banks, the limited liability company Banku servisacentrs as well as the limited liability company Neste Latvija, servicing, like banks,its retailer card and bank payment card POSs. Other retailer cards were serviced,using banks' POSs at the respective fuel companies.

64


HIGHLIGHTS OF RESOLUTIONS AND REGULATIONS ADOPTED INPURSUIT OF THE BANK OF LATVIA'S MAIN TASKS (FIRST QUARTEROF 2005)

January 13The Council of the Bank of Latvia passed the Resolution "On Changing the Titleof and Making Amendments to the "Regulation for Compiling the 'Report andProjections on Long-Term Foreign Loans by Credit Institutions' "" (in effect as ofApril 1, 2005).

The Council of the Bank of Latvia approved the "Regulation for Reproducing theBank of Latvia Banknotes" (in effect as of February 1, 2005).

The Council of the Bank of Latvia passed the Resolution "On Amendments to the"Regulation for Compiling the 'Report on Net Open Foreign Exchange Position' ""(in effect as of April 1, 2005).

The Council of the Bank of Latvia passed the Resolution "On Changing the Titleof and Making Amendments to the "Regulation for Compiling 'Interest RateReports of Credit Institutions' "" (in effect as of April 1, 2005).

The Council of the Bank of Latvia passed the Resolution "On Amendments to the"Regulation for Compiling the 'Report on Money Market Transactions' "" (in effectas of April 1, 2005).

The Council of the Bank of Latvia passed the Resolution "On Amendments to the"Regulation for Compiling the 'Report on Adjustments in Respect of Write-Offs/Write-Downs of Loans and Price Revaluations of Securities' "" (in effect as ofApril 1, 2005).

The Council of the Bank of Latvia revoked the Resolution "On Approval of the'Regulation for Receiving a Cash Collection Licence'".

March 21The Council of the Bank of Latvia approved a revised "Regulation for the Registerof Debtors" (in effect as of September 1, 2005).

The Council of the Bank of Latvia passed the Resolution "On Amendments to the'Regulation for Issuance and Maintenance of Electronic Money'" (in effect as ofApril 1, 2005).

65

1 · 2005

STATISTISKÂ INFORMÂCIJASTATISTICS

66

TABULU SARAKSTS LIST OF TABLES 1. Monetārie rādītāji un procentu likmes

Monetary Indicators and Interest Rates 69

2.ab Reālā sektora rādītāji un cenas Real Sector Indicators and Prices 70

3. Latvijas Bankas naudas pārskats Monetary Base 72

4. Monetārie rādītāji un to sastāvdaļas Monetary Aggregates and Counterparts 73

5. Sezonāli izlīdzinātie naudas rādītāji Seasonally Adjusted Monetary Aggregates 74

6. Latvijas Bankas aktīvi un pasīvi The Bank of Latvia's Assets and Liabilities 75

7. MFI (izņemot Latvijas Banku) kopsavilkuma bilance Aggregated Balance Sheet of MFIs (excluding the Bank of Latvia) 76

8. MFI konsolidētā bilance Consolidated Balance Sheet of MFIs 77

9.ab MFI (izņemot Latvijas Banku) kopsavilkuma bilance Aggregated Balance Sheet of MFIs (excluding the Bank of Latvia) 78

10. Latvijas banku sistēmas naudas pārskats Monetary Survey 82

11.ab MFI (izņemot Latvijas Banku) ārzemju aktīvi un ārzemju pasīvi Foreign Assets and Liabilities of MFIs (excluding the Bank of Latvia) 83

12. MFI (izņemot Latvijas Banku) atsevišķu bilances ārzemju aktīvu un ārzemju pasīvu posteņu valstu dalījums Country Breakdown of MFI (excluding the Bank of Latvia) Selected Foreign Assets and Foreign Liabilities 84

13. Rezidentu finanšu iestāžu, nefinanšu sabiedrību un mājsaimniecību noguldījumi uz nakti un termiņnoguldījumi (latos un ārvalstu valūtā) Overnight and Time Deposits of Resident Financial Institutions, Non-Financial Corporations and Households (in lats and foreign currencies) 85

14.a Finanšu iestāžu noguldījumi (latos un ārvalstu valūtā) Deposits by Financial Institutions (in lats and foreign currencies) 86

14.b Nefinanšu sabiedrību noguldījumi (latos un ārvalstu valūtā) Deposits by Non-Financial Corporations (in lats and foreign currencies) 87

14.c Mājsaimniecību noguldījumi (latos un ārvalstu valūtā) Deposits by Households (in lats and foreign currencies) 88

14.d Valdības un nerezidentu noguldījumi (latos un ārvalstu valūtā) Deposits by Government and Non-Residents (in lats and foreign currencies) 88

15. Rezidentu finanšu iestādēm, nefinanšu sabiedrībām un mājsaimniecībām izsniegto kredītu termiņstruktūra (latos un ārvalstu valūtā) Maturity Profile of Loans to Resident Financial Institutions, Non-Financial Corporations and Households (in lats and foreign currencies) 89

16.a Finanšu iestādēm un nefinanšu sabiedrībām izsniegtie kredīti Loans to Financial Institutions and Non-Financial Corporations 89

16.b Mājsaimniecībām izsniegtie kredīti Loans to Households 90

16.c Valdībai un nerezidentiem izsniegtie kredīti Loans to Government and Non-Residents 91

17. Finanšu iestādēm un nefinanšu sabiedrībām izsniegto kredītu atlikumi tautsaimniecībā Loans to Financial Institutions and Non-Financial Corporations in the National Economy 92

67

18. Rezidentu finanšu iestādēm, nefinanšu sabiedrībām un mājsaimniecībām izsniegto kredītu veidi Lending to Resident Financial Institutions, Non-Financial Corporations and Households 93

19.a Neakciju vērtspapīru turējumi Holdings of Securities Other than Shares 94

19.b Akciju un citu kapitāla vērtspapīru turējumi Holdings of Shares and Other Equity 94

20.a Rezidentu noguldījumu valūtu dalījums Currency Breakdown of Resident Deposits 95

20.b Nerezidentu noguldījumu valūtu dalījums Currency Breakdown of Non-Resident Deposits 96

20.c Rezidentiem izsniegto kredītu valūtu dalījums Currency Breakdown of Loans to Residents 97

20.d Nerezidentiem izsniegto kredītu valūtu dalījums Currency Breakdown of Loans to Non-Residents 98

20.e Rezidentu neakciju vērtspapīru turējumu valūtu dalījums Currency Breakdown of Resident Holdings of Securities Other than Shares 99

20.f Nerezidentu neakciju vērtspapīru turējumu valūtu dalījums Currency Breakdown of Non-Resident Holdings of Securities Other than Shares 100

20.g MFI emitēto parāda vērtspapīru valūtu dalījums Currency Breakdown of Debt Securities Issued by MFIs 100

21.a Vidējās svērtās procentu likmes MFI darījumos ar rezidentu nefinanšu sabiedrībām un mājsaimniecībām latos Weighted Average Interest Rates Charged by MFIs in Transactions with Resident Non-Financial Corporations and Households in Lats 101

21.b Vidējās svērtās procentu likmes MFI darījumos ar rezidentu nefinanšu sabiedrībām un mājsaimniecībām eiro Weighted Average Interest Rates Charged by MFIs in Transactions with Resident Non-Financial Corporations and Households in Euros 106

21.c Vidējās svērtās procentu likmes MFI darījumos ar rezidentu nefinanšu sabiedrībām un mājsaimniecībām ASV dolāros Weighted Average Interest Rates Charged by MFIs in Transactions with Resident Non-Financial Corporations and Households in US Dollars 111

22. Starpbanku tirgos izsniegtie kredīti Lending in the Interbank Markets 116

23.a Kredītu procentu likmes iekšzemes starpbanku tirgū Interest Rates in the Domestic Interbank Market 117

23.b Latvijas Bankas noteiktās procentu likmes Interest Rates Set by the Bank of Latvia 117

23.c Latvijas Bankas organizētajās repo un īstermiņa valūtas mijmaiņas darījumu izsolēs noteiktās procentu likmes Interest Rates in Bank of Latvia Tenders of Repurchase Agreements and Short-Term Currency Swap Contracts 117

24. Galvenie ārvalstu valūtas pirkšanas un pārdošanas darījumi (veidu un dalībnieku dalījumā) Principal Foreign Exchange Transactions in the Banking Sector (by type and counterparty) 118

25. Ārvalstu valūtu pirkšana un pārdošana Foreign Exchange Transactions 118

26. Latvijas Bankas noteiktie ārvalstu valūtu kursi (vidēji mēnesī) Monthly Averages of the Exchange Rates Set by the Bank of Latvia 119

27. Vidējie svērtie ārvalstu valūtu (izņemot bezskaidrās naudas norēķinus) maiņas kursi Weighted Average Exchange Rates (excluding non-cash items) 119

28. Lata reālā efektīvā kursa indekss Index of the Real Effective Exchange Rate of the Lats 119

68

29. Valsts iekšējā aizņēmuma vērtspapīru struktūra Structure of Government Securities 120

30. Valsts iekšējā aizņēmuma vērtspapīru emisija Issue of Government Securities 121

31. Valsts iekšējā aizņēmuma vērtspapīru izsoļu rezultāti Auctions of Government Securities 121

32. Latvijas Bankas veiktie darījumi valsts iekšējā aizņēmuma vērtspapīru otrreizējā tirgū The Bank of Latvia's Transactions in the Secondary Market for Government Securities 122

33. Iekšzemes kopprodukta dinamika Dynamics of Gross Domestic Product 122

34. Strādājošo mēneša vidējās bruto darba samaksas un bezdarba līmeņa pārmaiņas Changes in the Average Monthly Gross Wages and Salaries and Unemployment 122

35. Latvijas ārējās tirdzniecības bilance Latvian Foreign Trade Balance 123

36. Svarīgākās preces Latvijas eksportā Main Export Goods of Latvia 123

37. Svarīgākās preces Latvijas importā Main Import Goods of Latvia 124

38. Partnervalstis Latvijas ārējā tirdzniecībā Latvian Foreign Trade Partners 125

39. Norēķiniem izmantojamo klientu kontu skaits un to atlikumi (institūciju dalījumā) Customer Accounts (institutional framework) 126

40. Latvijā lietotie maksāšanas līdzekļi (skaits) Payment Instruments in Latvia (volume) 127

41. Latvijā lietotie maksāšanas līdzekļi (apjoms) Payment Instruments in Latvia (value) 128

42. Banku norēķinu karšu un mazumtirdzniecības karšu, bankomātu un norēķinu karšu pieņemšanas vietu un tīklu skaits Number of Bank Payment Cards and Retailer Cards, ATMs and POSs, ATM and POS Networks 129

69

2005

I II III IV V VI VII VIII IX X XI XII I II III

M11 21.0 22.0 19.5 20.9 24.2 26.4 22.4 24.3 25.3 25.0 24.1 25.6 27.5 27.2 29.7

M21 23.6 23.8 22.5 24.1 25.6 26.4 25.4 28.4 28.5 27.5 27.0 26.9 25.4 26.0 28.7

M31 23.6 24.0 22.7 24.5 25.8 26.6 25.7 28.6 28.6 27.5 27.0 26.8 25.3 26.0 29.0

M2X1 23.7 24.1 22.7 24.5 25.5 26.4 25.2 27.6 27.7 26.5 25.9 27.0 25.3 25.4 28.3

Kredīti rezidentu finanšu iestādēm, nefinanšu sabiedrībām un mājsaimniecībām1 Loans to resident financial institutions, non-financial corporations and households1

38.9 39.1 40.1 42.7 42.8 42.8 41.8 43.0 45.1 47.3 46.8 47.0 50.4 48.2 49.5

Rezidentu finanšu iestāžu, nefinanšu sabiedrību un mājsaimniecību noguldījumi1 Deposits of resident financial institutions, non-financial corporations and households1

28.7 29.6 28.0 30.0 32.5 33.2 31.2 35.3 34.4 32.4 32.5 34.1 31.4 31.0 34.1

Ilgtermiņa procentu likme konverģences novērtēšanai5

Long-term interest rate for convergence assessment purposes5

5.06 5.05 4.98 4.89 4.95 4.93 4.89 4.88 4.87 4.63 4.58 4.58 4.29 4.03 3.94

RIGIBOR kredītiem ar 3 mēnešu termiņu2 RIGIBOR (3-month loans)2

4.2 4.2 4.3 4.5 4.3 3.9 4.0 4.1 4.1 4.2 4.5 4.4 4.0 4.0 3.3

Valdības obligāciju vidējā peļņas likme Average yield on government bonds

– – 4.93 – 4.93 – – – 4.93 – – – – 3.54 3.34

DJRSE2, 6 236.6 247.8 260.6 272.8 262.2 257.6 258.2 257.7 261.7 346.6 372.3 389.7 423.1 425.7 433.7

1 Pārmaiņas salīdzinājumā ar iepriekšējā gada atbilstošo periodu (%). 1 Year-on-year changes (%). 2 Vidēji periodā. 2 Average of the period. 3 10 gadu obligācijas. 3 10-year bonds. 4 5 gadu obligācijas. 4 5-year bonds. 5 Valdības 10 gadu obligāciju mēneša vidējās vērtspapīru otrreizējā tirgus peļņas likmes. 5 Monthly average secondary market yields of 10-year government bonds. 6 Kopš 2004. gada oktobra – RIGSE. 6 RIGSE since October 2004.

2004

MONETĀRIE RĀDĪTĀJI UN PROCENTU LIKMES MONETARY INDICATORS AND INTEREST RATES

2003 2004 2005

1. cet. Q1

2. cet. Q2

3. cet. Q3

4. cet. Q4

1. cet. Q1

M11 18.4 25.6 19.5 26.4 25.3 25.6 29.7

M21 21.3 26.9 22.5 26.4 28.5 26.9 28.7

M31 21.2 26.8 22.7 26.6 28.6 26.8 29.0

M2X1 21.1 27.0 22.7 26.4 27.7 27.0 28.3

Kredīti rezidentu finanšu iestādēm, nefinanšu sabiedrībām un mājsaimniecībām1 Loans to resident financial institutions, non-financial corporations and households1

37.5 47.0 40.1 42.8 45.1 47.0 49.5

Rezidentu finanšu iestāžu, nefinanšu sabiedrību un mājsaimniecību noguldījumi1 Deposits of resident financial institutions, non-financial corporations and households1

25.4 34.1 28.0 33.2 34.4 34.1 34.1

RIGIBOR kredītiem ar 3 mēnešu termiņu2 RIGIBOR (3-month loans)2

3.8 4.2 4.2 4.2 4.1 4.4 3.7

Valdības obligāciju vidējā peļņas likme Average yield on government bonds

5.13 4.93 4.93 4.93 4.93 – 3.44

DJRSE2, 6 200.8 x 248.6 264.1 259.0 369.8 427.5

1.

70

REĀLĀ SEKTORA RĀDĪTĀJI UN CENAS REAL SECTOR INDICATORS AND PRICES

2003 2004 2005

1. cet. Q1

2. cet. Q2

3. cet. Q3

4. cet. Q4

1. cet. Q1

Rūpniecības produkcija Industrial output

Apjoms (faktiskajās cenās; milj. latu) Volume (at current prices; in millions of lats) 2 235.6 2 710.8 641.3 658.0 666.8 744.7 723.7

Apjoma pārmaiņas1 (salīdzināmajās cenās; %) Increase/decrease1 (at constant prices; %) 6.5 6.0 9.2 6.4 3.9 4.8 0.1

Ostās saņemtās un no tām nosūtītās kravas Cargoes loaded and unloaded at ports

Apgrozījums (tūkst. t) Turnover (in thousands of tons)

54 755 57 400 14 640 14 943 14 537 13 280 14 637

Apjoma pārmaiņas1 (%) Increase/decrease1 (%)

5.0 4.8 8.4 –3.0 6.7 8.7 0

Mazumtirdzniecības apgrozījums (bez tirgus apgrozījuma) Retail trade turnover (excluding retail trade at market-places)

Apgrozījums (faktiskajās cenās; milj. latu) Turnover (at current prices; in millions of lats) 2 353.9 2 861.4 590.3 689.8 743.7 837.6 778.6

Apjoma pārmaiņas1 (salīdzināmajās cenās; %) Increase/decrease1 (at constant prices; %)

12.1 14.1 13.8 14.5 11.9 16.1 21.0

Bezdarba līmenis (%) Unemployment rate (%)

8.6 8.5 9.2 8.7 8.7 8.5 8.6

Ražotāju cenu pārmaiņas (salīdzinājumā ar iepriekšējo periodu; %) Producer prices (increase/decrease compared with the previous period; %)

3.2 8.6 2.8 3.2 2.7 1.9 2.3

Valsts konsolidētā kopbudžeta fiskālā bilance Fiscal surplus/deficit in the general government consolidated budget

Pārpalikums vai deficīts (milj. latu) Fiscal surplus/deficit (in millions of lats) –103.2 –79.0 38.7 –26.7 81.8 –172.8 61.0

Attiecība pret iekšzemes kopproduktu (%) Ratio to GDP (%)

1.6 1.1 2.4 1.5 4.3 8.3 3.3

1 Pārmaiņas salīdzinājumā ar iepriekšējā gada atbilstošo periodu. 1 Year-on-year basis.

Patēriņa cenu indekss Consumer price index

Salīdzinājumā ar iepriekšējā gada atbilstošo periodu (%) Year-on-year basis (%)

5.8 7.4 7.3 6.7

Salīdzinājumā ar iepriekšējo periodu (%) Quarter-on-quarter basis (%)

2.6 1.1 1.1 1.7

2.9 6.2 4.3

x x 2.3

2.a

71

REĀLĀ SEKTORA RĀDĪTĀJI UN CENAS REAL SECTOR INDICATORS AND PRICES

2004 2005


Rūpniecības produkcija Industrial output

Apjoms (faktiskajās cenās; milj. latu) Volume (at current prices; in millions of lats)

203.1 206.1 232.0 223.5 218.2 216.3 216.7 217.9 232.2 241.7 249.9 253.1 227.7 235.3 260.7


4.2 8.5 14.8 9.3 2.7 7.3 2.2 6.5 3.3 –0.8 8.7 5.6 –2.0 1.5 0.8

Ostās saņemtās un no tām nosūtītās kravas Cargoes loaded and unloaded at ports

Apgrozījums (tūkst. t) Turnover (in thousands of tons)

4 678 4 511 5 450 5 211 5 084 4 648 5 157 4 562 4 818 4 543 4 164 4 572 4 374 5 050 5 214

Apjoma pārmaiņas1 (%) Increase/decrease1 (%)

8.5 –0.2 16.7 5.4 –8.6 –5.2 2.1 5.8 13.0 20.2 2.3 4.8 –6.5 11.9 –4.3

Mazumtirdzniecības apgrozījums (bez tirgus apgrozījuma) Retail trade turnover (excluding retail trade at market-places)

Apgrozījums (faktiskajās cenās; milj. latu) Turnover (at current prices; in millions of lats)

185.0 186.6 218.7 233.3 228.6 228.0 243.4 251.2 249.1 267.1 249.9 320.5 255.3 245.6 277.6


11.3 11.9 17.9 24.9 9.1 10.4 8.1 13.9 13.8 12.0 16.6 19.4 27.3 20.7 15.9

Bezdarba līmenis (%) Unemployment rate (%)

8.8 9.0 9.2 9.0 8.7 8.7 8.7 8.7 8.7 8.5 8.5 8.5 8.6 8.7 8.6

Ražotāju cenu pārmaiņas (salīdzinājumā ar iepriekšējo periodu; %) Producer prices (increase/decrease compared with the previous period; %)

1.7 1.1 0.7 1.2 0.7 1.9 0.5 0.8 0.4 0.6 1.1 0.1 1.3 0.6 0.5

Patēriņa cenu indekss Consumer price index

Salīdzinājumā ar iepriekšējā gada atbilstošo periodu (%) Year-on-year basis (%)

103.9 104.3 104.8 105.0 106.2 106.1 106.7 107.8 107.7 107.2 107.2 107.3 106.6 106.9 106.4

Salīdzinājumā ar iepriekšējo mēnesi (%) Month-on-month basis (%)

101.2 100.7 101.0 100.6 101.3 100.6 100.2 99.9 100.4 100.4 100.5 100.3 100.5 100.9 100.6

Patēriņa cenu gada pamatinflācijas indekss (neieskaitot neapstrādātās pārtikas cenas; %) Annual core inflation index (unprocessed food prices excluded; %)

103.0 104.0 104.8 105.1 106.0 105.8 106.3 106.6 107.3 107.2 107.4 107.0 106.4 105.9 105.4

Valsts konsolidētā kopbudžeta fiskālais pārpalikums vai deficīts (milj. latu) Fiscal surplus/deficit in the general government consolidated budget (in millions of lats)

30.6 –4.6 12.7 11.3 –14.1 –23.9 34.7 22.9 24.2 25.6 –43.4 –155.0 27.8 3.1 30.2

1 Pārmaiņas salīdzinājumā ar iepriekšējā gada atbilstošo periodu. 1 Year-on-year basis.

2.b

72

LATVIJAS BANKAS NAUDAS PĀRSKATS MONETARY BASE (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004

I II III IV V VI VII VIII IX X XI XII

Skaidrā nauda apgrozībā

Currency in circulation 659.0 659.7 649.6 666.3 657.9 667.9 685.8 683.4 686.2 697.9 694.4 727.4

Skaidrās naudas īpatsvars naudas bāzē (%) Currency as percent of the monetary base

83.4 86.3 85.9 81.1 82.0 79.9 80.3 76.6 78.1 76.7 75.9 76.0

Noguldījumi Latvijas Bankā latos Deposits with the Bank of Latvia in lats

131.0 104.4 106.5 155.4 144.7 168.3 168.2 208.4 192.5 211.5 220.2 229.9

Noguldījumu īpatsvars naudas bāzē (%) Deposits as percent of the monetary base

16.6 13.7 14.1 18.9 18.0 20.1 19.7 23.4 21.9 23.3 24.1 24.0

M0 789.9 764.1 756.1 821.8 802.7 836.2 853.9 891.8 878.7 909.4 914.7 957.2

Tīrie ārējie aktīvi Net foreign assets

822.9 806.7 812.5 1 010.8 869.7 871.4 916.7 954.1 964.2 1 032.6 1 023.5 1 039.3

Kredīti MFI Loans to MFIs

77.2 48.9 49.4 63.5 5.9 28.7 52.3 92.0 102.0 88.8 37.3 12.9

Kredīts centrālajai valdībai (neto) Credit to central government (net)

–47.8 –26.7 –43.5 –198.4 –8.0 –8.9 –59.3 –94.2 –123.3 –140.6 –69.6 –13.9

Pārējie aktīvi (neto) Other items (net) –62.3 –64.7 –62.3 –54.1 –64.9 –55.0 –55.7 –60.1 –64.1 –71.5 –76.6 –81.0

Kopā Total

789.9 764.1 756.1 821.8 802.7 836.2 853.9 891.8 878.7 909.4 914.7 957.2

2005

I II III

712.3 718.7 717.8

77.5 73.7 71.9

206.4 256.6 279.9

22.5 26.3 28.1

918.7 975.3 997.7

1 015.9 1 097.2 1 120.6

10.9 8.3 8.5

–44.8 –67.6 –40.8

–63.3 –62.6 –90.6

918.7 975.3 997.7

3.

73

MONETĀRIE RĀDĪTĀJI UN TO SASTĀVDAĻAS MONETARY AGGREGATES AND COUNTERPARTS (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004


Monetārie rādītāji Monetary aggregates

M3 2 244.5 2 287.8 2 305.3 2 375.8 2 436.3 2 494.0 2 542.9 2 604.1 2 611.6 2 673.0 2 692.9 2 818.9

Repo darījumi Repurchase agreements 0 0 0 0 0 0 0 0 0 0 0 0

Parāda vērtspapīri ar termiņu līdz 2 gadiem Debt securities issued with maturity of up to 2 years

2.7 2.7 2.7 2.8 2.8 2.8 2.8 2.8 0 0 1.7 2.4

M2 2 241.8 2 285.1 2 302.6 2 373.0 2 433.6 2 491.3 2 540.1 2 601.3 2 611.6 2 673.0 2 691.2 2 816.5

Noguldījumi ar noteikto termiņu līdz 2 gadiem Deposits with agreed maturity of up to 2 years

616.9 626.1 632.8 662.7 662.1 629.0 663.1 701.2 689.0 702.0 705.6 744.6

Noguldījumi ar brīdinājuma termiņu par izņemšanu līdz 3 mēnešiem Deposits redeemable at notice of up to 3 months

50.5 59.1 61.9 67.8 66.0 59.2 59.4 61.2 61.7 63.6 68.1 71.8

M1 1 574.4 1 599.9 1 607.9 1 642.4 1 705.5 1 803.1 1 817.6 1 838.9 1 860.8 1 907.4 1 917.5 2 000.1

Skaidrā nauda apgrozībā1 Currency outside MFIs 587.5 587.1 578.4 587.6 585.4 596.5 614.0 611.5 614.2 624.6 620.0 645.4

Noguldījumi uz nakti Overnight deposits

986.9 1 012.8 1 029.6 1 054.9 1 120.1 1 206.5 1 203.6 1 227.4 1 246.6 1 282.8 1 297.5 1 354.7

Monetāro rādītāju sastāvdaļas un ilgāka termiņa finanšu saistības Counterparts of monetary aggregates and longer-term financial liabilities

Centrālās valdības noguldījumi Deposits of central government

130.5 130.0 145.0 366.6 210.3 192.8 234.6 256.3 290.6 322.4 291.5 171.8

Ilgāka termiņa finanšu saistības Longer-term financial liabilities

719.8 729.1 740.2 753.6 777.5 788.1 804.7 826.5 841.4 877.7 900.1 927.1

Noguldījumi ar noteikto termiņu ilgāku par 2 gadiem Deposits with agreed maturity of over 2 years

95.7 97.8 99.0 101.4 102.2 104.4 105.2 105.0 106.7 107.7 112.2 114.4

Noguldījumi ar brīdinājuma termiņu par izņemšanu ilgāku par 3 mēnešiem Deposits redeemable at notice of over 3 months

0 0 0 0 0 0 0 0 0 0 0 0

Parāda vērtspapīri ar termiņu ilgāku par 2 gadiem Debt securities issued with maturity of over 2 years

49.3 49.3 49.4 49.5 69.5 69.4 74.6 76.1 76.4 76.6 84.6 87.6

Kapitāls un rezerves Capital and reserves

574.8 581.9 591.8 602.7 605.7 614.3 624.8 645.4 658.3 693.5 703.3 725.1

Kredīti rezidentiem Credit to residents

3 024.9 3 125.6 3 216.5 3 311.9 3 380.4 3 477.6 3 578.1 3 707.5 3 841.7 3 987.8 4 084.2 4 181.7

Kredīts valdībai Credit to general government

403.2 414.8 409.6 386.0 372.1 380.8 397.0 409.6 413.5 427.4 422.8 407.0

Kredīts pārējiem rezidentiem Credit to other residents

2 621.8 2 710.8 2 806.9 2 925.9 3 008.3 3 096.8 3 181.0 3 297.9 3 428.2 3 560.5 3 661.4 3 774.7

Aizdevumi Loans

2 591.5 2 680.2 2 776.8 2 894.6 2 976.2 3 061.4 3 145.4 3 262.1 3 392.1 3 523.0 3 623.9 3 737.0

Tīrie ārējie aktīvi Net external assets

60.0 23.3 –35.7 174.5 49.4 13.0 7.7 –19.6 –76.7 –90.2 –158.5 –231.0

Pārējie posteņi (neto) Other items (net) –9.8 2.1 –9.8 –9.6 5.7 15.7 3.6 1.0 21.4 24.5 41.2 32.9

Kopā Total

2 244.5 2 287.8 2 305.3 2 375.8 2 436.3 2 494.0 2 542.9 2 604.1 2 611.6 2 673.0 2 692.9 2 818.9

1 Bez atlikumiem MFI kasēs.

2005

I II III

2 812.5 2 882.9 2 973.8

0 0 0

2.0 4.6 9.6

2 810.5 2 878.3 2 964.1

730.8 768.8 800.4

73.1 75.0 77.6

2 006.6 2 034.5 2 086.1

632.3 639.8 640.0

1 374.3 1 394.7 1 446.2

219.2 230.1 212.0

929.2 944.5 966.0

118.2 119.9 125.4

0.7 0 0

78.6 80.3 80.7

731.8 744.3 759.9

4 341.7 4 425.2 4 571.4

415.5 423.4 394.9

3 926.2 4 001.8 4 176.5

3 897.4 3 972.3 4 150.7

–358.5 –350.4 –397.6

22.4 17.2 22.0

2 812.5 2 882.9 2 973.8

4.

74

SEZONĀLI IZLĪDZINĀTIE NAUDAS RĀDĪTĀJI SEASONALLY ADJUSTED MONETARY AGGREGATES (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004 2005


M1 1 590.6 1 621.2 1 631.9 1 666.7 1 718.7 1 769.4 1 788.8 1 825.7 1 863.7 1 898.7 1 923.6 1 979.3 2 021.1 2 055.8 2 103.8

M2 2 252.5 2 291.9 2 306.7 2 368.9 2 428.4 2 479.8 2 524.2 2 590.8 2 629.7 2 682.1 2 727.2 2 787.3 2 827.2 2 886.0 2 952.8

M3 2 259.9 2 294.5 2 304.4 2 367.6 2 429.3 2 475.9 2 524.6 2 593.1 2 632.0 2 684.6 2 724.1 2 796.5 2 831.2 2 892.0 2 971.5

5.

75

LATVIJAS BANKAS AKTĪVI UN PASĪVI THE BANK OF LATVIA'S ASSETS AND LIABILITIES (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004


AKTĪVI ASSETS

Aizdevumi rezidentiem Loans to residents

78.7 50.4 50.9 65.1 7.4 30.2 52.3 92.0 102.0 88.8 37.3 12.9

Valdībai General government

1.5 1.5 1.5 1.5 1.5 1.5 0 0 0 0 0 0

Citiem rezidentiem Other residents

0 0 0 0 0 0 0 0 0 0 0 0

MFI MFIs

77.2 48.9 49.4 63.5 5.9 28.7 52.3 92.0 102.0 88.8 37.3 12.9

Rezidentu emitēto neakciju vērtspapīru turējumi Holdings of securities other than shares issued by residents

61.5 81.6 81.0 81.2 81.0 81.3 80.8 81.0 75.8 92.9 92.6 93.2

Valdības General government

61.5 81.6 81.0 81.2 81.0 81.3 80.8 81.0 75.8 92.9 92.6 93.2

Citu rezidentu Other residents

0 0 0 0 0 0 0 0 0 0 0 0

MFI MFIs

0 0 0 0 0 0 0 0 0 0 0 0

Rezidentu emitēto akciju un citu kapitāla vērtspapīru turējumi Holdings of shares and other equity issued by residents

x x x x x x x x x x x x

Ārējie aktīvi External assets

930.3 912.5 919.0 1 123.1 981.0 985.7 1 036.4 1 064.0 1 077.0 1 151.5 1 144.4 1 170.6

Pamatlīdzekļi Fixed assets

34.0 33.9 33.8 33.6 33.7 33.8 33.9 34.0 35.2 35.3 35.3 35.9

Pārējie aktīvi Remaining assets

3.8 3.5 3.5 8.1 3.8 4.2 5.8 5.6 3.0 3.2 3.1 3.3

Kopā Total

1 108.4 1 081.9 1 088.2 1 311.0 1 106.8 1 135.3 1 209.1 1 276.6 1 293.0 1 371.8 1 312.8 1 315.9

PASĪVI LIABILITIES

Skaidrā nauda apgrozībā Currency in circulation

659.0 659.7 649.6 666.3 657.9 667.9 685.8 683.4 686.2 697.9 694.4 727.4

Rezidentu noguldījumi Deposits of residents

242.7 214.6 232.8 436.9 242.6 260.4 308.6 383.9 392.0 445.4 382.7 337.3

Centrālās valdības Central government

110.9 109.8 126.0 281.2 90.5 91.8 140.1 175.2 199.2 233.6 162.2 107.2


3.6 1.2 1.1 1.4 4.5 1.2 3.5 3.6 4.5 1.8 2.6 1.3

MFI MFIs

128.2 103.5 105.7 154.3 147.6 167.4 165.0 205.2 188.3 210.1 217.9 228.9

Emitētie parāda vērtspapīri Debt securities issued

0 0 0 0 0 0 0 0 0 0 0 0


82.7 84.5 93.0 87.7 85.5 83.4 84.5 89.7 89.5 91.2 89.8 94.7

Ārējās saistības External liabilities

107.4 105.8 106.5 112.3 111.2 114.3 119.7 109.9 112.8 118.9 120.9 131.3

Pārējās saistības Remaining liabilities

16.7 17.4 6.4 7.9 9.6 9.2 10.6 9.7 12.5 18.5 24.9 25.2

Kopā Total

1 108.4 1 081.9 1 088.2 1 311.0 1 106.8 1 135.3 1 209.1 1 276.6 1 293.0 1 371.8 1 312.8 1 315.9

2005

I II III

10.9 8.3 8.5

0 0 0

0 0 0

10.9 8.3 8.5

93.4 93.0 98.7

93.4 93.0 98.7

0 0 0

0 0 0

x x x

1 157.2 1 216.0 1 241.5

35.7 35.5 35.4

3.2 3.2 3.2

1 300.3 1 356.0 1 387.3

712.3 718.7 717.8

344.9 417.5 449.8

138.2 160.6 139.5

3.8 5.3 1.3

202.9 251.6 309.0

0 0 0

93.8 92.4 94.6

141.3 118.8 120.9

8.0 8.6 4.3

1 300.3 1 356.0 1 387.3

6.

76

MFI (IZŅEMOT LATVIJAS BANKU) KOPSAVILKUMA BILANCE AGGREGATED BALANCE SHEET OF MFIs (EXCLUDING THE BANK OF LATVIA) (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004


AKTĪVI ASSETS


2 992.1 3 058.6 3 161.2 3 254.3 3 346.1 3 479.0 3 549.7 3 712.4 3 806.4 4 002.3 4 107.2 4 275.4


110.6 112.8 108.2 65.3 65.4 65.2 73.5 73.5 75.4 73.0 73.0 67.7


2 591.5 2 680.2 2 776.8 2 894.6 2 976.2 3 061.4 3 145.4 3 262.1 3 392.1 3 523.0 3 623.9 3 737.0

MFI MFIs

290.1 265.6 276.2 294.4 304.5 352.5 330.9 376.9 338.9 406.3 410.4 470.7

Rezidentu emitēto neakciju vērtspapīru turējumi Holdings of securities other than shares issued by residents

244.1 232.6 231.7 253.4 239.7 247.7 261.8 273.6 279.2 275.8 276.2 263.1


229.6 219.0 218.9 237.9 224.2 232.7 242.8 255.1 262.2 261.4 257.3 246.1


1.3 1.3 0 0 0 0 0 0 0 0 0 0.5

MFI MFIs

13.3 12.3 12.9 15.5 15.5 15.0 19.0 18.4 17.0 14.4 19.0 16.6

Rezidentu emitēto akciju un citu kapitāla vērtspapīru turējumi Holdings of shares and other equity issued by residents

29.0 29.2 30.0 31.3 32.1 35.5 35.6 35.8 36.1 37.5 37.6 37.1


2 267.0 2 255.1 2 369.7 2 406.5 2 518.7 2 487.8 2 675.7 2 743.3 2 971.4 2 896.6 2 956.6 3 001.1


115.7 123.9 124.1 124.2 122.6 123.1 124.0 123.7 124.0 124.5 124.5 129.1


133.3 135.4 133.8 143.8 138.7 137.9 143.8 139.5 138.7 145.9 154.1 149.1

Kopā Total

5 781.3 5 834.8 6 050.6 6 213.5 6 398.0 6 511.0 6 790.7 7 028.3 7 355.7 7 482.6 7 656.3 7 855.0

PASĪVI LIABILITIES

Rezidentu noguldījumi Deposits of residents

2 005.4 2 026.2 2 053.2 2 174.1 2 229.8 2 313.3 2 341.3 2 436.6 2 444.6 2 529.5 2 540.3 2 610.9

Centrālās valdības Central government

19.6 20.2 19.1 85.5 119.7 101.0 94.5 81.1 91.5 88.8 129.3 64.6


1 746.3 1 794.6 1 822.2 1 885.4 1 946.0 1 998.0 2 027.9 2 091.3 2 099.5 2 154.4 2 180.7 2 284.3

MFI MFIs

239.5 211.4 212.0 203.2 164.1 214.4 218.9 264.2 253.5 286.3 230.2 262.0


52.0 52.0 52.1 52.2 72.3 72.2 77.4 78.8 76.4 76.6 86.4 90.0


492.2 497.4 498.9 515.0 520.3 530.9 540.3 555.7 568.8 602.3 613.5 630.4


3 029.9 3 038.4 3 217.9 3 242.8 3 339.0 3 346.1 3 584.7 3 716.9 4 012.2 4 019.5 4 138.7 4 271.4


201.9 220.7 228.5 229.3 236.7 248.5 247.0 240.2 253.7 254.8 277.5 252.3

Kopā Total

5 781.3 5 834.8 6 050.6 6 213.5 6 398.0 6 511.0 6 790.7 7 028.3 7 355.7 7 482.6 7 656.3 7 855.0

2005

I II III

4 399.3 4 511.7 4 790.2

68.3 67.5 75.5

3 897.4 3 972.3 4 150.7

433.6 471.9 564.0

263.9 277.2 234.7

253.8 263.0 220.7

0.5 0 0

9.6 14.2 14.1

28.3 29.4 25.8

3 192.8 3 063.9 3 108.2

127.4 129.9 129.4

155.5 149.0 155.0

8 167.2 8 161.1 8 443.2

2 616.0 2 652.4 2 786.2

81.0 69.5 72.5

2 293.3 2 353.1 2 448.2

241.7 229.8 265.4

80.6 84.9 90.3

638.0 651.9 665.3

4 567.2 4 511.5 4 626.4

265.5 260.4 275.0

8 167.2 8 161.1 8 443.2

7.

77

MFI KONSOLIDĒTĀ BILANCE CONSOLIDATED BALANCE SHEET OF MFIs (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004


AKTĪVI ASSETS


2 703.5 2 794.5 2 886.6 2 961.5 3 043.1 3 128.1 3 218.9 3 335.6 3 467.5 3 596.0 3 696.9 3 804.8


112.1 114.3 109.7 66.9 66.9 66.7 73.5 73.5 75.4 73.0 73.0 67.7


2 591.5 2 680.2 2 776.8 2 894.6 2 976.2 3 061.4 3 145.4 3 262.1 3 392.1 3 523.0 3 623.9 3 737.0

Citu rezidentu emitēto neakciju vērtspapīru turējumi Holdings of securities other than shares issued by other residents

292.4 301.9 299.8 319.1 305.2 314.1 323.6 336.1 338.1 354.3 349.8 339.8


291.1 300.6 299.8 319.1 305.2 314.1 323.6 336.1 338.1 354.3 349.8 339.3


1.3 1.3 0 0 0 0 0 0 0 0 0 0.5

Citu rezidentu emitēto akciju un citu kapitāla vērtspapīru turējumi Holdings of shares and other equity issued by other residents

29.0 29.2 30.0 31.3 32.1 35.5 35.6 35.8 36.1 37.5 37.6 37.1


3 197.3 3 167.6 3 288.7 3 529.6 3 499.7 3 473.5 3 712.1 3 807.3 4 048.4 4 048.2 4 101.1 4 171.7


149.8 157.8 157.9 157.8 156.4 156.9 157.9 157.7 159.1 159.9 159.8 165.0


65.7 66.4 66.1 73.1 70.0 70.7 77.9 73.3 69.7 75.8 82.8 70.4

Kopā Total

6 437.6 6 517.4 6 729.2 7 072.4 7 106.4 7 178.7 7 525.9 7 745.7 8 118.9 8 271.7 8 428.0 8 588.9

PASĪVI LIABILITIES

Skaidrā nauda apgrozībā1 Currency outside MFIs

587.5 587.1 578.4 587.6 585.4 596.5 614.0 611.5 614.2 624.6 620.0 645.4

Centrālās valdības noguldījumi Deposits of central government

130.5 130.0 145.0 366.6 210.3 192.8 234.6 256.3 290.6 322.4 291.5 171.8

Citas valdības un citu rezidentu noguldījumi Deposits of other general government and other residents

1 750.0 1 795.8 1 823.3 1 886.8 1 950.4 1 999.2 2 031.4 2 094.8 2 104.0 2 156.2 2 183.4 2 285.6


38.7 39.7 39.2 36.7 56.8 57.2 58.4 60.4 59.4 62.2 67.4 73.4


574.8 581.9 591.8 602.7 605.7 614.3 624.8 645.4 658.3 693.5 703.3 725.1


3 137.3 3 144.3 3 324.5 3 355.1 3 450.2 3 460.5 3 704.4 3 826.8 4 125.1 4 138.4 4 259.6 4 402.7


218.6 238.1 234.9 237.2 246.3 257.7 257.6 250.0 266.3 273.3 302.4 277.6

MFI savstarpējo saistību pārsniegums Excess of inter-MFI liabilities

0.3 0.4 –7.8 –0.4 1.3 0.6 0.7 0.5 1.0 1.2 0.4 7.3

Kopā Total

6 437.6 6 517.4 6 729.2 7 072.4 7 106.4 7 178.7 7 525.9 7 745.7 8 118.9 8 271.7 8 428.0 8 588.9


2005

I II III

3 965.7 4 039.8 4 226.2

68.3 67.5 75.5

3 897.4 3 972.3 4 150.7

347.7 356.0 319.4

347.1 356.0 319.4

0.5 0 0

28.3 29.4 25.8

4 350.0 4 279.9 4 349.7

163.1 165.4 164.8

78.6 73.3 80.4

8 933.4 8 943.9 9 166.2

632.3 639.8 640.0

219.2 230.1 212.0

2 297.0 2 358.4 2 449.5

71.0 70.7 76.3

731.8 744.3 759.9

4 708.4 4 630.3 4 747.3

273.5 269.0 279.3

0.1 1.1 1.9

8 933.4 8 943.9 9 166.2

8.

78


2004


MFI rezerves MFI reserves

199.6 176.1 176.9 233.0 220.1 238.8 236.8 277.0 260.3 283.4 292.3 310.8

Nacionālā valūta kasēs Vault cash in national currency 71.5 72.6 71.2 78.7 72.5 71.4 71.8 71.8 72.0 73.3 74.4 81.9

Noguldījumi Latvijas Bankā Deposits with the Bank of Latvia 128.2 103.5 105.7 154.3 147.6 167.4 165.0 205.2 188.3 210.1 217.9 228.9

Ārzemju aktīvi Foreign assets 2 267.0 2 255.1 2 369.7 2 406.5 2 518.7 2 487.8 2 675.7 2 743.3 2 971.4 2 896.6 2 956.6 3 001.1

Prasības pret centrālo valdību Claims on the central govermment 272.3 262.1 260.3 237.9 224.2 232.7 242.8 255.2 262.3 261.4 257.3 246.1

Kredīti Loans 42.8 43.1 41.5 0 0 0 0 0 0 0 0 0

Neakciju vērtspapīru turējumi Holdings of securities other than shares

229.6 219.0 218.9 237.9 224.2 232.7 242.8 255.1 262.2 261.4 257.3 246.1

Prasības pret vietējo valdību Claims on the local govermment 67.8 69.6 66.7 65.3 65.4 65.2 73.4 73.5 75.4 73.0 73.0 67.7

Kredīti Loans 67.8 69.6 66.7 65.3 65.4 65.2 73.4 73.5 75.4 73.0 73.0 67.7


0 0 0 0 0 0 0 0 0 0 0 0

Prasības pret finanšu iestādēm Claims on the financial institutions 303.0 300.6 304.7 325.3 328.8 336.8 345.6 353.4 360.1 364.5 380.6 403.2

Kredīti Loans 278.4 275.7 279.8 300.2 303.4 308.1 316.5 324.2 330.6 333.9 349.8 373.8


0 0 0 0 0 0 0 0 0 0 0 0.5

Akciju un citu kapitāla vērtspapīru turējumi Holdings of shares and other equity

24.5 24.9 24.9 25.1 25.3 28.8 29.1 29.2 29.5 30.6 30.8 28.9

Prasības pret valsts nefinanšu sabiedrībām Claims on public non-financial corporations

84.2 85.0 85.3 82.2 83.3 84.3 78.5 79.5 82.0 85.1 90.3 87.7

Kredīti Loans 84.2 85.0 85.3 82.2 83.3 84.3 78.5 79.5 82.0 85.1 90.3 87.7


0 0 0 0 0 0 0 0 0 0 0 0


0 0 0 0 0 0 0 0 0 0 0 0

Prasības pret privātajām nefinanšu sabiedrībām Claims on private non-financial corporations

1 448.3 1 506.5 1 556.7 1 602.7 1 642.4 1 677.5 1 702.3 1 751.4 1 812.6 1 881.7 1 912.0 1 952.7

Kredīti Loans 1 442.5 1 500.8 1 551.6 1 596.5 1 635.6 1 670.8 1 695.7 1 744.8 1 806.0 1 874.8 1 905.2 1 944.5


1.3 1.3 0 0 0 0 0 0 0 0 0 0


4.5 4.4 5.1 6.2 6.7 6.7 6.6 6.6 6.6 6.9 6.8 8.3

Prasības pret mājsaimniecībām Claims on households 786.3 818.7 860.2 915.7 953.8 998.2 1 054.7 1 113.6 1 173.5 1 229.2 1 278.5 1 331.1

Kredīti Loans 786.3 818.7 860.2 915.7 953.8 998.2 1 054.7 1 113.6 1 173.5 1 229.2 1 278.5 1 331.1


0 0 0 0 0 0 0 0 0 0 0 0

I II III

282.9 330.5 386.8

80.0 78.9 77.8

202.9 251.6 309.0

3 192.8 3 063.9 3 108.2

253.8 263.0 220.8

0 0 0.1

253.8 263.0 220.7

68.3 67.4 75.4

68.3 67.4 75.4

0 0 0

398.8 420.5 451.2

378.0 400.2 434.6

0.5 0 0

20.3 20.3 16.6

87.6 117.8 109.1

87.6 117.8 109.1

0 0 0

0 0 0

2 051.4 2 036.9 2 119.4

2 043.3 2 027.8 2 110.2

0 0 0

8.1 9.1 9.2

1 388.4 1 426.5 1 496.8

1 388.4 1 426.5 1 496.8

0 0 0

2005

9.a

79

MFI (IZŅEMOT LATVIJAS BANKU) KOPSAVILKUMA BILANCE (TURPINĀJUMS) AGGREGATED BALANCE SHEET OF MFIs (EXCLUDING THE BANK OF LATVIA) (CONT.) (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004



115.7 123.9 124.1 124.2 122.6 123.1 124.0 123.7 124.0 124.5 124.5 129.1

Pārējie aktīvi Other assets

61.8 62.9 62.6 65.0 66.2 66.5 72.1 67.6 66.7 72.7 79.7 67.1

Prasības pret rezidentu MFI Claims on resident MFIs

162.0 162.1 170.4 140.1 157.0 185.0 165.9 171.7 150.6 196.2 192.5 241.8

MFI neakciju vērtspapīru turējumi Holdings of MFI securities other than shares

13.3 12.3 12.9 15.5 15.5 15.0 19.0 18.4 17.0 14.4 19.0 16.6

MFI akciju un citu kapitāla vērtspapīru turējumi Holdings of MFI shares and other equity

0 0 0 0 0 0 0 0 0 0 0 0

AKTĪVI PAVISAM TOTAL ASSETS

5 781.3 5 834.8 6 050.6 6 213.5 6 398.0 6 511.0 6 790.7 7 028.3 7 355.7 7 482.6 7 656.3 7 855.0

2005

I II III

127.4 129.9 129.4

75.5 70.1 77.2

230.7 220.3 255.0

9.6 14.2 14.1

0 0 0

8 167.2 8 161.1 8 443.2

9.a

80


2004


Noguldījumi uz nakti latos Overnight deposits in lats

574.5 571.6 602.7 621.2 665.2 728.6 708.0 718.8 718.1 730.4 731.4 804.9

Finanšu iestāžu Financial institutions 10.1 9.5 9.2 8.1 9.7 10.4 10.6 10.8 12.8 9.7 13.1 17.8

Valsts nefinanšu sabiedrību Public non-financial corporations 35.1 30.4 30.8 31.0 29.8 59.7 56.2 52.5 57.3 58.0 45.0 37.6

Privāto nefinanšu sabiedrību Private non-financial corporations

245.4 243.0 260.4 263.8 292.1 307.0 293.6 311.1 304.6 309.7 318.3 372.8

Mājsaimniecību Households 283.9 288.8 302.2 318.4 333.6 351.4 347.6 344.4 343.4 353.0 355.0 376.8

Termiņnoguldījumi latos Time deposits in lats 447.2 467.6 483.5 514.5 513.8 488.8 495.0 515.9 504.1 508.6 515.8 532.6




114.3 125.0 126.6 146.2 135.3 124.2 125.2 134.6 129.6 134.6 132.5 137.3


Noguldījumi latos ar brīdinājuma termiņu par izņemšanu Deposits redeemable at notice in lats

30.7 36.6 38.7 40.6 38.5 29.5 30.8 32.3 33.3 33.1 33.9 34.9

Finanšu iestāžu Financial institutions 0 0.1 0 0 0 0 0 0 0 0 0 0



10.4 13.6 15.1 16.8 14.0 3.4 3.8 3.6 3.5 3.3 3.6 4.1


Repo darījumi latos Repos in lats 0 0 0 0 0 0 0 0 0 0 0 0

Rezidentu noguldījumi ārvalstu valūtā Foreign currency deposits of residents

645.3 669.5 645.8 656.9 672.4 691.4 732.9 752.0 770.8 803.2 818.1 850.0




215.3 228.6 203.4 210.1 210.5 224.8 241.5 251.2 247.4 262.8 262.4 251.8


Centrālās valdības noguldījumi Deposits of central government 19.6 20.2 19.1 85.5 119.7 101.0 94.5 81.1 91.5 88.8 129.3 64.6

Noguldījumi uz nakti latos Overnight deposits in lats 1.3 0.7 1.3 2.5 2.9 1.3 0.5 1.4 1.3 0.6 1.4 1.8


Noguldījumi ar brīdinājuma termiņu par izņemšanu un repo darījumi latos Deposits redeemable at notice and repos in lats

0 0 0 0 11.2 2.0 0 0 2.0 2.0 10.0 0

Noguldījumi ārvalstu valūtā Foreign currency deposits 4.5 4.8 3.0 60.7 49.4 46.3 64.4 59.3 51.7 50.5 40.3 48.4

2005

I II III

803.0 797.4 826.6

16.0 13.5 18.4

45.5 42.8 46.7

367.0 357.2 363.6

374.6 383.9 397.8

526.7 562.1 597.7

44.2 46.2 51.4

48.8 64.0 70.4

123.5 137.5 152.1

310.2 314.3 323.8

36.4 38.6 40.6

0 0 0

0.3 0.3 0.3

4.4 4.3 3.6

31.7 34.0 36.7

0 0 0

864.9 887.8 908.9

13.4 10.7 12.7

13.5 14.3 14.6

256.4 273.3 275.8

581.6 589.5 605.7

81.0 69.5 72.5

1.1 0.4 2.4

22.9 24.0 19.3

0 0 0

57.0 45.1 50.8

9.b

81

MFI (IZŅEMOT LATVIJAS BANKU) KOPSAVILKUMA BILANCE (TURPINĀJUMS) AGGREGATED BALANCE SHEET OF MFIs (EXCLUDING THE BANK OF LATVIA) (CONT.) (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004


Vietējās valdības noguldījumi Deposits of local government

48.7 49.2 51.5 52.1 56.0 59.7 61.1 72.4 73.2 79.1 81.5 61.8

Noguldījumi uz nakti latos Overnight deposits in lats 36.9 37.9 41.4 40.1 44.4 48.7 49.2 54.8 55.9 61.4 67.6 56.1


Noguldījumi ar brīdinājuma termiņu par izņemšanu un repo darījumi latos Deposits redeemable at notice and repos in lats

0.7 0.8 0.8 0.8 0.8 0.8 0.9 0.9 0.9 0.9 1.6 0.9

Noguldījumi ārvalstu valūtā Foreign currency deposits 4.7 3.3 3.4 3.7 3.7 3.7 3.8 3.4 3.0 2.2 1.6 2.0

Tranzītfondi Transit funds

6.8 6.3 5.7 5.6 5.6 5.5 5.5 5.5 5.4 5.5 5.3 5.4

Ārzemju pasīvi Foreign liabilities

3 029.9 3 038.4 3 217.9 3 242.8 3 339.0 3 346.1 3 584.7 3 716.9 4 012.2 4 019.5 4 138.7 4 271.4

Saistības pret Latvijas Banku Liabilities to the Bank of Latvia

77.2 48.9 49.4 63.5 5.9 28.7 52.3 92.0 102.0 88.8 37.3 12.9


52.0 52.0 52.1 52.2 72.3 72.2 77.4 78.8 76.4 76.6 86.4 90.0


492.2 497.4 498.9 515.0 520.3 530.9 540.3 555.7 568.8 602.3 613.5 630.4

Rezidentu Rezidents 294.6 299.9 300.0 270.5 275.8 286.4 297.6 313.0 328.6 341.1 351.5 360.4

Pārskata gada nesadalītā peļņa Retained earnings of the reporting year

9.5 15.9 24.7 31.7 39.0 49.6 59.6 71.3 82.6 93.5 104.6 116.1

Nerezidentu Non-residents 197.5 197.6 198.9 244.5 244.5 244.5 242.7 242.7 240.2 261.1 262.0 270.0

Uzkrājumi parādiem un saistībām Provisions

68.8 73.4 76.6 76.7 76.7 77.2 78.3 80.3 81.0 82.1 85.0 88.5

Pārējie pasīvi (t.sk. pakārtotās saistības) Other liabilities (incl. subordinated liabilities)

126.3 141.1 146.2 147.0 154.4 165.8 163.2 154.4 167.4 167.2 187.1 158.4

Saistības pret rezidentu MFI Liabilities to resident MFIs

162.3 162.5 162.6 139.7 158.2 185.6 166.6 172.2 151.5 197.4 192.9 249.1

PASĪVI PAVISAM TOTAL LIABILITIES

5 781.3 5 834.8 6 050.6 6 213.5 6 398.0 6 511.0 6 790.7 7 028.3 7 355.7 7 482.6 7 656.3 7 855.0

Papildposteņi Memo items

Aktīvi pārvaldīšanā Trust assets

448.0 442.5 771.6 537.1 566.8 568.2 526.8 587.5 490.4 567.5 545.6 616.4

Ārzemju / Foreign 352.9 349.0 675.0 447.0 484.7 490.0 459.8 517.8 423.4 503.1 479.6 540.6

Iekšzemes / Domestic 95.1 93.4 96.6 90.1 82.1 78.2 67.0 69.8 66.9 64.3 66.0 75.7

Pasīvi pārvaldīšanā Trust liabilities

448.0 442.5 771.6 537.1 566.8 568.2 526.8 587.5 490.4 567.5 545.6 616.4

Ārzemju / Foreign 391.3 385.2 713.5 473.2 509.0 513.6 481.8 540.5 444.7 522.8 500.3 570.1

Iekšzemes / Domestic 56.7 57.3 58.1 63.9 57.8 54.6 45.0 47.1 45.6 44.7 45.2 46.3

2005

I II III

62.2 67.2 74.4

50.3 55.4 61.2

5.5 5.3 5.7

0.8 0.8 0.9

5.6 5.6 6.6

5.4 5.4 5.4

4 567.2 4 511.5 4 626.4

10.9 8.3 8.5

80.6 84.9 90.3

638.0 651.9 665.3

368.0 376.8 390.2

13.7 25.7 51.1

270.0 275.1 275.1

90.3 90.5 93.1

169.8 164.6 176.5

230.8 221.5 256.9

8 167.2 8 161.1 8 443.2

674.6 738.6 764.2

589.3 648.9 672.0

85.4 89.7 92.2

674.6 738.6 764.2

623.7 684.3 711.5

50.9 54.3 52.7

9.b

82

Tīrie ārējie aktīvi Net foreign assets

Tīrie iekšējie aktīvi Net domestic assets

Kopā Total

Kredīti rezidentiem Credit to residents

Pārējie aktīvi (neto) Other items (net)

Valdībai (neto) General government (net)

Mājsaimnie-cībām Households

Finanšu iestādēm un privātajām nefinanšu sabiedrībām Financial institutions and private non-financial corporations

Valsts nefinanšu sabiedrībām Public non-financial corporations

2004

I 60.0 2 845.8 224.0 786.3 1 751.3 84.2 –620.7 2 225.1 2 285.1

II 23.3 2 946.3 235.6 818.7 1 807.0 85.0 –637.2 2 309.1 2 332.4

III –35.7 3 019.9 213.0 860.2 1 861.4 85.3 –635.2 2 384.7 2 349.0

IV 174.5 2 893.0 –32.8 915.7 1 927.9 82.2 –646.7 2 246.3 2 420.9

V 49.4 3 114.0 105.8 953.8 1 971.1 83.3 –688.2 2 425.8 2 475.3

VI 13.0 3 225.2 128.3 998.2 2 014.4 84.3 –703.4 2 521.8 2 534.8

VII 7.7 3 282.4 101.3 1 054.7 2 047.9 78.5 –709.3 2 573.1 2 580.8

VIII –19.6 3 378.7 80.9 1 113.5 2 104.8 79.5 –728.8 2 649.9 2 630.4

IX –76.7 3 477.9 49.7 1 173.5 2 172.7 82.0 –760.7 2 717.2 2 640.5

X –90.2 3 586.3 25.9 1 229.2 2 246.1 85.1 –796.2 2 790.1 2 699.9

XI –158.5 3 711.2 49.8 1 278.5 2 292.6 90.3 –833.5 2 877.7 2 719.2

XII –231.0 3 948.1 173.4 1 331.1 2 355.9 87.7 –849.3 3 098.8 2 867.9

2005

I –358.5 4 060.3 134.1 1 388.4 2 450.2 87.6 –838.5 3 221.8 2 863.3

II –350.4 4 127.8 126.1 1 426.5 2 457.4 117.8 –851.6 3 276.2 2 925.8

III –397.6 4 285.0 108.5 1 496.8 2 570.6 109.1 –873.6 3 411.4 3 013.8


LATVIJAS BANKU SISTĒMAS NAUDAS PĀRSKATS MONETARY SURVEY (perioda beigās; milj. latu) (at end of period; in millions of lats)

Skaidrā nauda apgrozībā1

Currency outside MFIs

Noguldījumi uz nakti (rezidentu) Overnight deposits (resident)

Termiņnoguldījumi (rezidentu) Time deposits (resident)

Kopā (M2X) Total (M2X)

Mājsaimniecību Households

Finanšu iestāžu un privāto nefinanšu sabiedrību Financial institutions and private non-financial corporations

Valsts nefinanšu sabiedrību Public non-financial corporations


Finanšu iestāžu un privāto nefinanšu sabiedrību Financial institutions and private non-financial corporations

Valsts nefinanšu sabiedrību Public non-financial corporations

2004

I 587.5 942.6 483.7 411.5 47.4 755.0 468.6 226.6 59.8 2 285.1

II 587.1 970.7 495.8 430.0 44.9 774.6 476.5 234.1 64.0 2 332.4

III 578.4 984.0 513.4 427.5 43.1 786.7 478.9 235.2 72.6 2 349.0

IV 587.6 1 010.0 530.1 437.8 42.1 823.3 489.9 254.0 79.4 2 420.9

V 585.4 1 068.0 552.1 473.1 42.8 821.9 495.7 250.4 75.8 2 475.3

VI 596.5 1 153.4 578.9 502.4 72.1 784.9 506.5 213.4 65.0 2 534.8

VII 614.0 1 147.4 590.5 488.5 68.4 819.4 523.0 231.9 64.5 2 580.8

VIII 611.5 1 165.8 587.6 514.8 63.4 853.1 534.1 244.8 74.2 2 630.4

IX 614.2 1 183.5 594.8 518.1 70.6 842.8 553.1 230.8 58.9 2 640.5

X 624.6 1 217.7 620.0 529.8 67.9 857.6 551.9 243.2 62.5 2 699.9

XI 620.0 1 226.0 630.3 540.7 55.0 873.2 576.0 239.5 57.7 2 719.2

XII 645.4 1 295.6 657.8 593.8 44.0 926.8 629.3 244.0 53.5 2 867.9

2005

I 632.3 1 315.0 659.7 601.8 53.5 916.1 638.4 223.0 54.7 2 863.3

II 639.8 1 328.7 676.7 600.4 51.6 957.2 645.0 242.4 69.8 2 925.8

III 640.0 1 377.5 703.6 619.8 54.1 996.4 660.5 257.9 78.0 3 013.8

10.

83

MFI (IZŅEMOT LATVIJAS BANKU) ĀRZEMJU AKTĪVI UN ĀRZEMJU PASĪVI FOREIGN ASSETS AND LIABILITIES OF MFIs (EXCLUDING THE BANK OF LATVIA) (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004


Prasības pret MFI Claims on MFIs

1 513.7 1 485.7 1 582.2 1 582.9 1 665.0 1 613.2 1 761.4 1 788.9 1 961.5 1 895.3 1 949.7 2 036.2

Aizdevumi Loans

Uz nakti / Overnight 924.5 847.2 1 041.0 857.0 1 001.9 1 070.9 1 060.3 1 061.5 1 246.3 1 141.9 1 205.0 1 155.2

Īstermiņa / Short-term 261.9 304.1 191.3 365.0 306.8 198.3 338.7 342.7 303.7 355.1 332.2 517.7

Ilgtermiņa / Long-term 12.7 12.9 12.6 14.3 13.8 13.5 13.6 20.3 22.1 23.6 23.6 23.7


309.0 306.8 321.6 330.7 326.8 314.1 333.7 349.4 374.3 359.6 373.2 323.3


0.6 0.6 0.7 0.8 0.5 0.5 0.4 0.4 0.5 0.4 1.0 1.5

Citas prasības Other claims 5.0 14.0 15.0 15.0 15.2 15.9 14.7 14.7 14.7 14.7 14.7 14.7

Prasības pret ne-MFI Claims on non-MFIs

677.1 690.9 707.4 746.0 771.6 797.8 845.3 877.1 928.0 929.7 926.1 892.8

Aizdevumi Loans




Valdības sektors / Government 118.0 112.5 102.0 96.6 138.4 139.1 154.2 168.3 158.7 159.7 134.4 114.2

Privātais sektors / Private sector 185.7 178.9 170.5 170.7 156.8 160.1 168.9 183.4 186.3 197.0 200.5 176.8


16.2 16.9 15.3 14.0 12.6 12.9 13.1 13.6 13.5 13.4 13.0 14.2

Citas prasības Other claims 6.1 6.3 6.5 6.8 7.1 7.2 7.4 7.6 7.6 7.7 7.7 7.7

Ārvalstu valūta kasēs Vault cash in foreign currencies

53.0 51.8 50.8 48.0 49.8 48.6 47.2 52.3 52.4 47.3 49.5 51.8

Pārējie aktīvi Other assets 23.2 26.7 29.3 29.6 32.4 28.2 21.9 25.0 29.5 24.3 31.4 20.4

Ārzemju aktīvi kopā Total foreign assets

2 267.0 2 255.1 2 369.7 2 406.5 2 518.7 2 487.8 2 675.7 2 743.3 2 971.4 2 896.6 2 956.6 3 001.1

2005

I II III

2 157.3 2 014.0 1 996.4

1 322.5 1 241.7 1 307.5

460.3 373.0 308.7

21.8 21.2 21.6

336.5 361.8 341.6

1.6 1.7 1.7

14.7 14.7 15.3

955.1 969.3 1 019.4

189.4 192.5 208.4

427.2 437.7 449.1

113.9 114.5 135.0

199.9 198.0 200.4

16.5 18.4 17.4

8.1 8.2 9.2

51.5 51.6 57.6

29.0 29.0 34.8

3 192.8 3 063.9 3 108.2

11.a

84

MFI (IZŅEMOT LATVIJAS BANKU) ĀRZEMJU AKTĪVI UN ĀRZEMJU PASĪVI FOREIGN ASSETS AND LIABILITIES OF MFIs (EXCLUDING THE BANK OF LATVIA) (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004


Saistības pret MFI Liabilities to MFIs

Uz nakti / Overnight 121.8 146.8 208.6 95.9 133.5 152.1 130.5 149.4 158.9 100.0 210.6 78.9



Ne-MFI noguldījumi Non-MFI deposits

Uz nakti / Overnight 1 817.7 1 814.9 1 816.8 1 856.1 1 974.4 1 942.7 2 061.8 2 113.7 2 283.8 2 308.9 2 261.3 2 314.6



Citi pasīvi¹ Other liabilities¹ 117.3 135.7 155.8 140.7 140.5 166.8 153.0 138.7 145.1 154.4 169.3 112.1

Ārzemju pasīvi kopā Total foreign liabilities

3 029.9 3 038.4 3 217.9 3 242.8 3 339.0 3 346.1 3 584.7 3 716.9 4 012.2 4 019.5 4 138.7 4 271.4

Papildposteņi Memo items

Aktīvi pārvaldīšanā Trust assets 352.9 349.0 675.0 447.0 484.7 490.0 459.8 517.8 423.4 503.1 479.6 540.6

Pasīvi pārvaldīšanā Trust liabilities 391.3 385.2 713.5 473.2 509.0 513.6 481.8 540.5 444.7 522.8 500.3 570.1

¹ T.sk. pakārtotās saistības. ¹ Including subordinated liabilities.

2005

I II III

94.9 97.5 127.9

367.1 314.6 332.1

965.0 1 087.5 1 144.5

2 603.6 2 502.8 2 491.3

279.5 303.5 331.7

51.4 50.3 50.9

205.7 155.2 148.0

4 567.2 4 511.5 4 626.4

589.3 648.9 672.0

623.7 684.3 711.5

11.b

MFI (IZŅEMOT LATVIJAS BANKU) ATSEVIŠĶU BILANCES ĀRZEMJU AKTĪVU UN ĀRZEMJU PASĪVU POSTEŅU VALSTU DALĪJUMS COUNTRY BREAKDOWN OF MFI (EXCLUDING THE BANK OF LATVIA) SELECTED FOREIGN ASSETS AND FOREIGN LIABILITIES (perioda beigās; milj. latu) (at end of period; in millions of lats)

2003 2004

1. cet. Q1

2. cet. Q2

3. cet. Q3

4. cet. Q4

1. cet. Q1

2. cet. Q2

3. cet. Q3

4. cet. Q4

Ārzemju aktīvi1

Foreign assets1 1 776.4 1 862.8 2 060.8 2 149.9 2 319.0 2 439.1 2 919.0 2 949.3

Eiropas Savienība European Union 842.9 806.6 864.8 853.4 927.2 1 292.0 1 614.7 1 459.4

t.sk. Ekonomikas un monetārā savienība incl. Economic and Monetary Union

474.1 472.4 524.1 546.5 606.9 663.6 702.7 657.7

Pārējās valstis un starptautiskās institūcijas Other countries and international institutions

933.5 1 056.1 1 196.0 1 296.5 1 391.7 1 147.2 1 304.3 1 489.9

Ārzemju pasīvi2

Foreign liabilities2 2 205.6 2 384.9 2 741.1 2 951.0 3 217.9 3 346.1 4 012.2 4 271.4

Eiropas Savienība European Union 493.2 561.1 732.2 879.9 938.1 1 217.2 1 517.1 1 712.8

t.sk. Ekonomikas un monetārā savienība incl. Economic and Monetary Union

205.6 262.1 305.5 380.4 413.6 418.5 515.0 568.7

Pārējās valstis un starptautiskās institūcijas Other countries and international institutions

1 712.4 1 823.8 2 008.9 2 071.1 2 279.8 2 128.9 2 495.1 2 558.5

1 Izņemot ārvalstu valūtu kasē. 1 Excluding vault cash in foreign currencies. 2 Izņemot kapitālu un rezerves. 2 Excluding capital and reserves.

2005

1. cet. Q1

3 050.6

1 597.2

721.2

1 453.4

4 626.4

2 038.1

670.5

2 588.2

12.

85

REZIDENTU FINANŠU IESTĀŽU, NEFINANŠU SABIEDRĪBU UN MĀJSAIMNIECĪBU NOGULDĪJUMI UZ NAKTI UN TERMIŅNOGULDĪJUMI (LATOS UN ĀRVALSTU VALŪTĀ) OVERNIGHT AND TIME DEPOSITS OF RESIDENT FINANCIAL INSTITUTIONS, NON-FINANCIAL CORPORATIONS AND HOUSEHOLDS (IN LATS AND FOREIGN CURRENCIES) (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004


Noguldījumi uz nakti Overnight deposits

Summa / Amount 942.6 970.7 984.0 1 010.0 1 068.0 1 153.4 1 147.4 1 165.8 1 183.5 1 217.7 1 226.0 1 295.6

%¹ 55.5 55.6 55.6 55.1 56.5 59.5 58.4 57.7 58.4 58.7 58.4 58.3

Termiņnoguldījumi Time deposits

Ar termiņu 1–6 mēn. Maturity of 1–6 months

Summa / Amount 337.1 350.0 354.1 386.2 369.9 311.7 328.4 350.4 332.1 344.4 352.8 396.2

%¹ 19.9 20.1 20.0 21.1 19.6 16.1 16.7 17.4 16.4 16.6 16.8 17.8

Ar termiņu 6–12 mēn. Maturity of 6–12 months

Summa / Amount 220.1 223.2 231.2 235.3 254.9 276.3 293.8 312.7 319.8 317.6 322.7 327.5

%¹ 13.0 12.8 13.0 12.8 13.5 14.3 14.9 15.5 15.8 15.3 15.4 14.7

Ilgtermiņa Long-term

Summa / Amount 197.8 201.4 201.3 201.8 197.1 197.0 197.2 189.9 190.9 195.6 197.7 203.2

%¹ 11.6 11.5 11.4 11.0 10.4 10.1 10.0 9.4 9.4 9.4 9.4 9.2

Noguldījumi kopā Total deposits 1 697.6 1 745.3 1 770.6 1 833.3 1 889.9 1 938.3 1 966.8 2 018.9 2 026.3 2 075.3 2 099.2 2 222.5

¹ Attiecīgo noguldījumu īpatsvars rezidentu finanšu iestāžu, nefinanšu sabiedrību un mājsaimniecību veikto noguldījumu atlikumā. ¹ As percent of total deposits of resident financial institutions, non-financial corporations and households.

2005

I II III

1 315.0 1 328.7 1 377.5

59.0 58.1 58.0

373.3 406.4 429.6

16.7 17.8 18.1

333.1 339.5 348.7

14.9 14.9 14.7

209.8 211.3 218.0

9.4 9.2 9.2

2 231.1 2 285.9 2 373.8

13.

86

FINANŠU IESTĀŽU NOGULDĪJUMI (LATOS UN ĀRVALSTU VALŪTĀ) DEPOSITS BY FINANCIAL INSTITUTIONS (IN LATS AND FOREIGN CURRENCIES) (perioda beigās; milj. latu) (at end of period; in millions of lats)

Apdrošināšanas sabiedrības un pensiju fondi / Insurance corporations and pension funds

Uz nakti Overnight

Ar noteikto termiņu With agreed maturity

Ar brīdinājuma termiņu par izņemšanu Redeemable at notice

Repo darījumi Repos

Latos In lats

Līdz 1 gadam Up to 1 year

1–2 gadi 1–2 years

Ilgāk par 2 gadiem Over 2 years

Līdz 3 mēnešiem Up to 3 months

Ilgāk par 3 mēnešiem Over 3 months

2004

X 6.0 12.6 5.1 19.6 0 0 0 43.4 39.1

XI 7.8 11.3 5.2 20.1 0 0 0 44.3 40.3

XII 8.0 12.5 5.5 21.3 0 0 0 47.4 42.5

2005

I 14.6 11.8 6.2 22.6 0 0 0 55.1 49.8

II 12.7 12.5 7.6 23.8 0 0 0 56.7 50.2

III 12.2 14.7 8.0 24.5 0 0 0 59.5 53.0

VII 7.9 11.6 4.2 16.9 0.1 0 0 40.7 36.1

VIII 7.5 11.2 4.6 17.9 0.1 0 0 41.3 36.3

IX 8.3 13.2 4.5 18.6 0 0 0 44.6 39.5

IV 7.3 10.4 4.8 15.1 0.1 0 0 37.6 30.8

V 7.4 11.3 4.9 15.7 0.1 0 0 39.3 32.8

VI 6.2 12.1 5.3 16.6 0.1 0 0 40.3 34.2

I 8.6 8.1 3.6 12.2 0.1 0 0 32.6 26.0

II 6.1 12.0 3.2 14.2 0.1 0 0 35.6 28.9

III 7.0 12.2 4.6 15.0 0.1 0 0 38.9 31.5

14.a

CFS un finanšu palīgsabiedrības / OFIs and financial auxiliaries

Uz nakti Overnight




Latos In lats






2004

X 12.1 4.2 1.8 1.1 0 0 0 19.2 10.7

XI 11.8 4.3 1.7 1.1 0 0 0 19.0 12.5

XII 17.1 4.3 1.9 1.1 0 0 0 24.5 17.7

2005

I 10.5 5.1 1.9 0.9 0 0 0 18.4 10.4

II 7.4 4.6 0.8 0.9 0 0 0 13.8 9.6

III 14.5 6.2 1.1 1.2 0 0 0 23.1 16.8

VII 9.5 3.2 1.8 1.0 0 0 0 15.5 8.8

VIII 11.0 3.8 1.8 1.1 0 0 0 17.7 10.5

IX 12.3 4.0 1.8 1.1 0 0 0 19.2 12.4

IV 11.5 3.9 0.4 1.4 0 0 0 17.2 8.8

V 9.6 20.9 0.4 1.4 0 0 0 32.3 24.4

VI 11.3 3.2 0.4 1.0 0 0 0 15.9 10.8

I 11.1 6.1 1.6 1.3 0 0 0 20.2 11.7

II 8.2 7.2 1.7 1.3 0 0 0 18.4 11.4

III 10.1 6.5 0.4 1.4 0 0 0 18.3 10.7

87

NEFINANŠU SABIEDRĪBU NOGULDĪJUMI (LATOS UN ĀRVALSTU VALŪTĀ) DEPOSITS BY NON-FINANCIAL CORPORATIONS (IN LATS AND FOREIGN CURRENCIES) (perioda beigās; milj. latu) (at end of period; in millions of lats)

Valsts nefinanšu sabiedrības / Public non-financial corporations

Uz nakti Overnight




Latos In lats






2004

X 67.9 57.2 0.2 4.7 0.4 0 0 130.4 105.9

XI 55.0 52.3 0.3 4.7 0.4 0 0 112.7 93.6

XII 44.0 48.2 0.3 4.7 0.4 0 0 97.5 85.7

2005

I 53.5 49.3 0.2 4.7 0.4 0 0 108.2 94.6

II 51.6 64.5 0.2 4.7 0.4 0 0 121.5 107.1

III 54.1 72.7 0.2 4.7 0.4 0 0 132.1 117.4

VII 68.4 56.9 2.5 4.7 0.4 0 0 132.9 107.3

VIII 63.4 66.8 2.3 4.7 0.4 0 0 137.6 109.9

IX 70.6 51.5 2.4 4.7 0.4 0 0 129.5 101.3

IV 42.1 71.7 2.6 4.7 0.3 0 0 121.5 105.6

V 42.8 68.3 2.5 4.7 0.3 0 0 118.6 96.1

VI 72.1 57.4 2.5 4.7 0.4 0 0 137.1 116.0

I 47.4 52.5 2.6 4.3 0.4 0 0 107.2 87.7

II 44.9 56.5 2.6 4.6 0.4 0 0 109.0 86.8

III 43.1 64.9 2.6 4.7 0.4 0 0 115.7 98.3

14.b

Privātās nefinanšu sabiedrības / Private non-financial corporations

Uz nakti Overnight




Latos In lats






2004

X 511.6 174.2 10.7 8.5 5.4 0 0 710.4 447.6

XI 521.1 170.1 12.7 7.4 5.6 0 0 716.9 454.5

XII 568.7 172.4 10.8 7.4 6.6 0 0 765.9 514.1

2005

I 576.7 149.5 11.5 7.5 6.0 0 0 751.3 494.9

II 580.2 167.8 10.9 7.5 5.9 0 0 772.3 499.0

III 593.0 178.7 10.9 7.5 5.0 0 0 795.2 519.4

VII 471.1 173.3 4.8 9.0 5.9 0 0 664.1 422.6

VIII 496.3 184.8 4.2 9.1 6.1 0 0 700.6 449.3

IX 497.5 169.2 4.3 9.2 5.0 0 0 685.2 437.8

I 391.8 164.8 7.8 8.8 12.2 0 0 585.4 370.1

II 415.7 161.7 8.3 9.0 15.3 0 0 610.0 381.5

III 410.4 161.3 7.5 9.2 17.2 0 0 605.5 402.1

IV 419.1 182.4 7.5 9.0 19.1 0 0 637.0 426.8

V 456.2 165.4 4.4 9.1 16.8 0 0 651.9 441.4

VI 484.8 153.4 4.3 9.0 7.9 0 0 659.5 434.7

88

MĀJSAIMNIECĪBU NOGULDĪJUMI (LATOS UN ĀRVALSTU VALŪTĀ) DEPOSITS BY HOUSEHOLDS (IN LATS AND FOREIGN CURRENCIES) (perioda beigās; milj. latu) (at end of period; in millions of lats)

Mājsaimniecības / Households

Uz nakti Overnight




Latos In lats






2004

X 620.0 351.0 72.4 71.4 57.0 0 0 1 171.9 668.8

XI 630.3 371.0 67.4 77.2 60.5 0 0 1 206.3 680.1

XII 657.8 415.4 70.8 79.3 63.9 0 0 1 287.1 712.5

2005

I 659.7 417.6 72.4 81.9 66.6 0 0 1 298.1 716.5

II 676.7 422.3 72.4 82.4 67.9 0 0 1 321.7 732.2

III 703.6 429.4 73.3 86.4 71.3 0 0 1 364.0 758.4

VII 590.5 318.6 80.5 71.7 52.2 0 0 1 113.5 659.0

VIII 587.6 336.2 73.3 70.7 53.9 0 0 1 121.7 660.8

IX 594.8 353.2 73.1 71.3 55.5 0 0 1 148.0 664.6

I 483.7 275.9 88.2 67.4 37.1 0 0 952.3 556.8

II 495.8 277.5 89.7 66.8 42.5 0 0 972.3 567.3

III 513.4 279.3 89.2 66.8 43.5 0 0 992.3 582.3

IV 530.1 286.0 87.1 69.2 47.6 0 0 1 020.0 604.3

V 552.1 293.8 84.6 69.3 48.0 0 0 1 047.8 622.8

VI 578.9 303.4 82.0 71.1 49.9 0 0 1 085.4 651.1

14.c

VALDĪBAS UN NEREZIDENTU NOGULDĪJUMI (LATOS UN ĀRVALSTU VALŪTĀ) DEPOSITS BY GOVERNMENT AND NON-RESIDENTS (IN LATS AND FOREIGN CURRENCIES) (perioda beigās; milj. latu) (at end of period; in millions of lats)

Valdības / General government Nerezidenti / Non-residents

Centrālā valdība Central government

Vietējā valdība Local government

Latos In lats

MFI MFIs

Ne-MFI Non-MFIs

Latos In lats

Valdība General government

Pārējās Other

2004

X 88.8 79.1 167.9 115.2 1 250.2 2 614.9 2.3 2 612.6 3 865.1 60.0

XI 129.3 81.5 210.8 169.0 1 393.3 2 576.1 2.5 2 573.6 3 969.5 71.6

XII 64.6 61.8 126.4 76.0 1 410.7 2 748.6 1.8 2 746.8 4 159.2 73.8

2005

I 81.0 62.2 143.2 80.6 1 427.0 2 934.5 2.0 2 932.5 4 361.5 56.0

II 69.5 67.2 136.7 85.9 1 499.6 2 856.6 2.0 2 854.7 4 356.3 56.0

III 72.5 74.4 146.9 89.5 1 604.5 2 873.9 1.6 2 872.3 4 478.4 59.1

VII 94.5 61.1 155.6 87.4 1 047.5 2 384.1 2.9 2 381.2 3 431.7 64.4

VIII 81.1 72.4 153.5 90.8 1 114.8 2 463.5 2.7 2 460.7 3 578.2 55.4

IX 91.5 73.2 164.7 110.0 1 236.1 2 631.0 2.6 2 628.4 3 867.1 52.0

I 19.6 48.7 68.3 59.1 860.6 2 052.0 1.5 2 050.6 2 912.6 50.8

II 20.2 49.2 69.4 61.3 864.1 2 038.6 1.8 2 036.8 2 902.7 54.1

III 19.1 51.5 70.6 64.2 925.2 2 136.9 1.6 2 135.3 3 062.1 52.0

IV 85.5 52.1 137.6 73.1 903.2 2 198.9 1.9 2 197.0 3 102.1 46.1

V 119.7 56.0 175.8 122.7 934.8 2 263.8 1.9 2 261.9 3 198.6 58.6

VI 101.0 59.7 160.7 110.8 933.8 2 245.6 2.1 2 243.5 3 179.4 52.2

14.d

89

REZIDENTU FINANŠU IESTĀDĒM, NEFINANŠU SABIEDRĪBĀM UN MĀJSAIMNIECĪBĀM IZSNIEGTO KREDĪTU TERMIŅSTRUKTŪRA (LATOS UN ĀRVALSTU VALŪTĀ) MATURITY PROFILE OF LOANS TO RESIDENT FINANCIAL INSTITUTIONS, NON-FINANCIAL CORPORATIONS AND HOUSEHOLDS (IN LATS AND FOREIGN CURRENCIES) (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004


Īstermiņa Short-term

Summa / Amount 419.9 435.8 444.1 449.2 457.0 455.4 458.3 467.1 497.3 527.4 540.9 548.7

%1 16.2 16.2 16.0 15.5 15.3 14.9 14.6 14.3 14.7 15.0 14.9 14.7

Ar termiņu 1–5 gadi Maturity of 1–5 years

Summa / Amount 1 056.6 1 084.5 1 130.6 1 189.7 1 240.1 1 293.5 1 327.6 1 385.6 1 428.8 1 395.8 1 325.9 1 344.2

%1 40.8 40.5 40.7 41.1 41.7 42.2 42.2 42.5 42.1 39.6 36.6 36.0

Ar termiņu ilgāku par 5 gadiem Maturity of over 5 years

Summa / Amount 1 115.0 1 159.9 1 202.1 1 255.7 1 279.1 1 312.5 1 359.5 1 409.4 1 466.0 1 599.8 1 757.1 1 844.1

%1 43.0 43.3 43.3 43.4 43.0 42.9 43.2 43.2 43.2 45.4 48.5 49.3

Kredīti kopā Total loans

2 591.5 2 680.2 2 776.8 2 894.6 2 976.2 3 061.4 3 145.4 3 262.1 3 392.1 3 523.0 3 623.9 3 737.0

1 Attiecīgo kredītu īpatsvars rezidentu finanšu iestādēm, nefinanšu sabiedrībām un mājsaimniecībām izsniegto kredītu atlikumā. 1 As percent of total loans to resident financial institutions, non-financial corporations and households.

2005

I II III

578.4 568.9 598.3

14.9 14.3 14.4

1 481.8 1 522.6 1 584.9

38.0 38.3 38.2

1 837.2 1 880.8 1 967.5

47.1 47.4 47.4

3 897.4 3 972.3 4 150.7

15.

FINANŠU IESTĀDĒM UN NEFINANŠU SABIEDRĪBĀM IZSNIEGTIE KREDĪTI LOANS TO FINANCIAL INSTITUTIONS AND NON-FINANCIAL CORPORATIONS (perioda beigās; milj. latu) (at end of period; in millions of lats)

Apdrošināšanas sabiedrības un pensiju fondi Insurance corporations and pension funds

CFS un finanšu palīgsabiedrības OFIs and financial auxiliaries

Valsts nefinanšu sabiedrības Public non-financial corporations

Privātās nefinanšu sabiedrības Private non-financial corporations


Latos In lats


Latos In lats




Latos In lats




Latos In lats

2004

X 2.5 2.5 0.7 48.3 331.4 107.2 11.5 13.3 60.3 85.1 33.0 366.7 847.9 660.2 1 874.8 839.1

XI 2.2 2.2 0.6 39.1 347.6 108.1 18.1 12.8 59.4 90.3 32.9 377.4 844.9 682.9 1 905.2 840.4

XII 3.2 3.2 1.0 54.2 370.6 118.2 12.8 12.7 62.2 87.7 38.1 375.9 856.0 712.6 1 944.5 849.6

2005

I 3.2 5.3 0.8 55.8 372.7 117.8 12.4 12.3 62.9 87.6 38.4 399.6 895.7 748.0 2 043.3 838.7

II 3.9 3.9 0.7 41.5 396.3 122.4 12.6 26.0 79.2 117.8 59.5 401.2 891.3 735.3 2 027.8 800.5

III 4.2 4.2 0.8 54.9 430.4 138.3 7.7 26.0 75.4 109.1 54.7 418.5 929.7 762.0 2 110.2 781.3

VII 5.7 5.8 2.2 35.2 310.8 112.3 7.3 16.0 55.2 78.5 33.2 321.9 774.8 599.0 1 695.7 767.9

VIII 6.3 6.3 2.5 33.2 317.9 118.1 7.7 15.3 56.5 79.5 32.8 325.4 807.1 612.4 1 744.8 781.2

IX 5.2 5.2 1.8 38.6 325.3 122.5 11.1 14.6 56.3 82.0 32.2 343.9 832.3 629.9 1 806.0 811.1

I 5.9 6.2 2.6 29.2 272.2 103.6 11.7 16.6 55.8 84.2 42.6 302.4 614.1 526.1 1 442.5 696.1

II 5.7 6.0 2.4 24.1 269.7 102.0 11.1 14.9 59.0 85.0 40.7 322.2 637.4 541.2 1 500.8 715.2

III 5.7 5.7 2.0 23.4 274.1 103.6 11.8 14.6 58.8 85.3 41.5 326.4 666.2 559.0 1 551.6 734.9

IV 5.8 5.8 2.1 28.5 294.4 104.9 9.2 15.1 57.9 82.2 40.2 327.6 693.0 575.9 1 596.5 748.2

V 5.8 5.8 1.8 30.5 297.6 107.8 10.9 14.9 57.5 83.3 39.9 327.9 731.1 576.6 1 635.6 748.6

VI 6.3 6.3 2.2 30.5 301.8 110.3 10.8 15.5 57.9 84.3 41.0 323.0 764.3 583.5 1 670.8 761.4

16.a

90

MĀJSAIMNIECĪBĀM IZSNIEGTIE KREDĪTI LOANS TO HOUSEHOLDS (perioda beigās; milj. latu) (at end of period; in millions of lats)

Mājsaimniecības / Households

Patēriņa kredīti Consumer credit

Kredīti mājokļa iegādei Lending for house purchase

Pārējie kredīti Other lending

Latos In lats










2004

I 145.0 35.8 80.0 29.2 502.3 13.4 153.6 335.2 139.0 21.4 42.2 75.4 786.3 323.7

II 152.0 37.6 84.0 30.5 528.5 13.7 159.5 355.3 138.2 21.3 41.5 75.3 818.7 330.5

III 162.4 42.1 88.3 32.1 555.7 15.0 166.6 374.1 142.0 19.8 41.0 81.2 860.2 345.2

IV 171.7 43.4 94.2 34.1 596.0 16.7 175.6 403.7 148.0 18.0 42.5 87.5 915.7 354.0

V 190.1 46.7 97.3 46.1 622.2 16.9 181.6 423.7 141.6 18.3 43.7 79.5 953.8 364.5

VI 198.2 48.5 102.3 47.4 656.5 17.7 189.6 449.1 143.6 18.5 43.8 81.2 998.2 375.3

VII 210.6 53.6 108.2 48.8 692.2 17.6 197.4 477.1 151.8 16.9 48.6 86.4 1 054.7 386.0

VIII 225.8 58.8 116.6 50.4 737.6 19.6 207.9 510.1 150.1 16.2 46.6 87.3 1 113.6 402.2

IX 232.8 57.5 123.4 51.9 780.7 20.9 216.4 543.3 160.0 20.1 47.9 92.0 1 173.5 417.1

X 254.4 57.1 123.5 73.7 814.1 21.4 173.4 619.3 160.7 19.8 47.4 93.5 1 229.2 440.8

XI 263.9 58.6 121.5 83.8 848.6 22.6 165.4 660.6 166.0 22.9 47.5 95.6 1 278.5 454.0

XII 271.1 55.7 124.5 90.9 889.0 24.1 168.4 696.5 171.0 22.9 46.7 101.4 1 331.1 464.9

2005

I 279.0 58.6 152.2 68.1 933.0 25.8 236.0 671.1 176.4 23.0 49.2 104.3 1 388.4 467.2

II 285.9 59.8 154.6 71.5 964.1 27.5 236.9 699.7 176.6 22.4 49.6 104.6 1 426.5 466.7

III 296.7 62.8 155.2 78.6 1 013.6 27.9 240.4 745.3 186.6 22.3 55.9 108.4 1 496.8 474.0

16.b

91

VALDĪBAI UN NEREZIDENTIEM IZSNIEGTIE KREDĪTI LOANS TO GOVERNMENT AND NON-RESIDENTS (perioda beigās; milj. latu) (at end of period; in millions of lats)


Nerezidentiem Non-residents

Centrālā valdība Central government

Vietējā valdība Local government

Latos In lats

MFI MFIs

Ne-MFI Non-MFIs

Latos In lats


Pārējās Other

2004

I 42.8 67.8 110.6 21.2 1 199.0 351.1 0 351.1 1 550.1 30.9

II 43.1 69.6 112.8 23.4 1 164.2 376.2 0 376.2 1 540.4 29.1

III 41.5 66.7 108.2 22.0 1 244.9 413.1 0 413.1 1 658.0 28.7

IV 0 65.3 65.3 20.8 1 236.4 458.0 0 458.0 1 694.3 15.1

V 0 65.4 65.4 20.9 1 322.4 456.8 0 456.8 1 779.2 30.5

VI 0 65.2 65.2 21.2 1 282.7 478.4 0 478.4 1 761.1 25.3

VII 0 73.4 73.5 21.5 1 412.6 501.7 0 501.7 1 914.2 19.8

VIII 0 73.5 73.5 21.7 1 424.5 504.3 0 504.3 1 928.7 21.3

IX 0 75.4 75.4 22.5 1 572.0 561.9 0 561.9 2 133.9 10.5

X 0 73.0 73.0 23.2 1 520.6 551.8 0 551.8 2 072.4 24.5

XI 0 73.0 73.0 22.7 1 560.9 570.4 0 570.4 2 131.3 38.6

XII 0 67.7 67.7 17.6 1 696.7 579.9 0 579.9 2 276.6 33.0

2005

I 0 68.3 68.3 18.2 1 804.6 616.6 0 616.6 2 421.1 23.9

II 0 67.4 67.5 17.6 1 635.9 630.2 0 630.2 2 266.1 23.1

III 0.1 75.4 75.5 17.5 1 637.8 657.5 0 657.5 2 295.4 32.5

16.c

92

FINANŠU IESTĀDĒM UN NEFINANŠU SABIEDRĪBĀM IZSNIEGTO KREDĪTU ATLIKUMI TAUTSAIMNIECĪBĀ LOANS TO FINANCIAL INSTITUTIONS AND NON-FINANCIAL CORPORATIONS IN THE NATIONAL ECONOMY (2005. gada 1. cet. beigās, milj. latu; struktūra, %) (at end of Q1 2005, in millions of lats; structure, %)

Ar atlikušo atmaksas termiņu līdz 1 gadam With residual maturity of up to 1 year

Ar atlikušo atmaksas termiņu no 1 līdz 5 gadiem With residual maturity of over 1 and up to 5 years

Ar atlikušo atmaksas termiņu ilgāku par 5 gadiem With residual maturity of over 5 years

Kopā Amount

% T.sk. latos Incl. LVL

% Kopā Amount


% Kopā Amount


% Kopā Amount


%

Kopā Total

821.9 100.0 374.7 100.0 1 120.0 100.0 395.4 100.0 800.2 100.0 223.9 100.0 2 742.1 100.0 993.9 100.0

Lauksaimniecība, medniecība un mežsaimniecība Agriculture, hunting and forestry

44.7 5.4 32.4 8.7 81.6 7.3 54.9 13.9 34.0 4.3 21.6 9.6 160.3 5.8 108.9 11.0

Zvejniecība Fishing

1.8 0.2 1.0 0.3 5.2 0.5 1.5 0.4 2.5 0.3 0 0 9.6 0.4 2.6 0.3

Ieguves rūpniecība un karjeru izstrāde Mining and quarrying

0.4 0.1 0.2 0 1.3 0.1 0.5 0.1 1.7 0.2 0.6 0.3 3.4 0.1 1.3 0.1

Apstrādes rūpniecība Manufacturing

163.8 19.9 74.1 19.8 161.4 14.4 40.8 10.3 65.2 8.2 26.7 11.9 390.5 14.2 141.5 14.2

Elektroenerģija, gāzes un ūdens apgāde Electricity, gas and water supply

7.7 0.9 7.1 1.9 35.2 3.1 26.0 6.6 46.3 5.8 27.7 12.4 89.2 3.3 60.8 6.1

Būvniecība Construction

37.8 4.6 24.7 6.6 94.0 8.4 25.1 6.3 81.7 10.2 31.2 13.9 213.5 7.8 80.9 8.1

Tirdzniecība Trade

259.8 31.6 129.5 34.6 126.3 11.3 53.7 13.6 75.0 9.4 23.3 10.4 461.0 16.8 206.5 20.8

Viesnīcas un restorāni Hotels and restaurants

14.2 1.7 10.5 2.8 15.2 1.3 7.7 1.9 48.0 6.0 12.2 5.5 77.3 2.8 30.5 3.1

Transports, glabāšana un sakari Transport, storage and communication

46.1 5.6 14.0 3.7 70.0 6.2 13.7 3.5 78.0 9.7 7.1 3.1 194.0 7.1 34.8 3.5

Finanšu starpniecība Financial intermediation

119.4 14.5 32.2 8.6 278.5 24.9 98.0 24.8 53.1 6.6 8.3 3.7 451.1 16.5 138.4 13.9

Operācijas ar nekustamo īpašumu, noma un cita komercdarbība Real estate, renting and business activities

100.9 12.3 36.1 9.6 195.5 17.5 54.2 13.7 220.4 27.5 44.3 19.8 516.8 18.8 134.6 13.5

Sabiedriskie, sociālie un individuālie pakalpojumi Other community, social and personal service activities

11.0 1.4 7.6 2.0 23.7 2.1 8.6 2.2 21.0 2.6 6.2 2.8 55.7 2.0 22.4 2.3

Pārējie pakalpojumi Other services

14.3 1.8 5.3 1.4 32.1 2.9 10.7 2.7 73.3 9.2 14.7 6.6 119.7 4.4 30.7 3.1


17.

93

REZIDENTU FINANŠU IESTĀDĒM, NEFINANŠU SABIEDRĪBĀM UN MĀJSAIMNIECĪBĀM IZSNIEGTO KREDĪTU VEIDI LENDING TO RESIDENT FINANCIAL INSTITUTIONS, NON-FINANCIAL CORPORATIONS AND HOUSEHOLDS (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004


Norēķinu konta debeta atlikums1 Overdraft1 87.2 101.7 116.6 120.4 125.6 130.4 125.9 127.8 130.2 142.7 157.1 152.3

Komerckredīts Commercial credit 777.6 794.6 809.8 847.3 855.2 850.6 861.0 882.7 905.7 947.1 967.0 1 001.1

Industriālais kredīts Industrial credit 543.0 560.2 572.2 576.6 599.9 622.3 635.0 663.9 675.6 691.0 700.5 719.1

Vērtspapīru pirkšana ar atpārdošanu Reverse repo

28.2 29.2 29.1 29.8 29.7 29.9 26.3 26.3 26.6 25.0 26.6 24.4

Finanšu noma Financial leasing 52.0 52.5 52.8 53.9 53.0 51.4 51.1 49.2 49.7 48.4 46.9 45.7

Kredīts patēriņa preču iegādei Consumer credit 153.8 162.4 157.2 167.7 184.2 190.2 203.3 168.0 175.0 181.0 188.5 193.5

Hipotēku kredīts Mortgage loans 807.5 844.7 901.1 960.7 997.3 1 046.1 1 096.2 1 158.7 1 235.2 1 290.3 1 332.9 1 392.2

Kredīts pret norēķina dokumentiem Factoring

17.8 20.8 21.2 21.0 21.4 22.4 23.0 22.1 22.4 21.8 25.0 24.8

Tranzītkredīts Transit credit 4.7 4.6 3.9 3.7 3.6 3.6 3.5 3.3 3.2 3.1 3.0 2.9

Pārējie kredīti Other credit 119.7 109.5 112.9 113.5 106.3 114.5 120.1 160.1 168.5 172.6 176.4 181.0

Kredīti kopā Total loans 2 591.5 2 680.2 2 776.8 2 894.6 2 976.2 3 061.4 3 145.4 3 262.1 3 392.1 3 523.0 3 623.9 3 737.0

1 Saskaņā ar MFI mēneša bilances pārskata izmaiņām ar 2005. gada janvāri veikta overdraft kredītu pārklasifikācija, norēķina konta debeta atlikuma summas parādot konkrētu kredītu veidu ietvaros. 1 As of January 1, 2005, ovedraft is reported under specific types of lending in accordance with reclassification resulting from changes in the monthly financial position report of MFIs.

2005

I II III

x x x

1 164.3 1 184.7 1 243.2

792.2 800.3 820.6

22.3 21.6 22.9

45.2 42.7 41.4

170.9 177.1 185.3

1 489.4 1 513.7 1 587.9

25.0 25.1 28.7

2.9 2.8 2.7

185.2 204.4 218.1

3 897.4 3 972.3 4 150.7

18.

94

AKCIJU UN CITU KAPITĀLA VĒRTSPAPĪRU TURĒJUMI HOLDINGS OF SHARES AND OTHER EQUITY (perioda beigās; milj. latu) (at end of period; in millions of lats)

Akcijas un citi kapitāla vērtspapīri Shares and other equity

MFI MFIs

Pārējo rezidentu Other residents

Nerezidentu Non-residents

Latos In lats

2004

I 0 29.0 27.9 56.9 33.9

II 0 29.2 37.9 67.2 43.1

III 0 30.0 37.6 67.6 45.8

IV 0 31.3 36.6 67.9 47.1

V 0 32.1 35.4 67.5 48.1

VI 0 35.5 36.5 72.0 52.2

VII 0 35.6 35.6 71.2 51.1

VIII 0 35.8 36.3 72.1 51.2

IX 0 36.1 36.2 72.3 51.5

X 0 37.5 36.3 73.7 52.0

XI 0 37.6 36.4 74.0 52.2

XII 0 37.1 38.0 75.2 51.7

2005

I 0 28.3 40.9 69.2 42.2

II 0 29.5 42.9 72.5 43.3

III 0.2 26.0 43.5 69.8 40.2

19.b

NEAKCIJU VĒRTSPAPĪRU TURĒJUMI HOLDINGS OF SECURITIES OTHER THAN SHARES (perioda beigās; milj. latu) (at end of period; in millions of lats)

Neakciju vērtspapīri Securities other than shares

MFI MFIs


Pārējo rezidentu Other residents

Nerezidentu Non-residents

Latos In lats

t.sk. ilgtermiņa incl. long-term




2004

I 13.3 13.3 229.6 194.4 1.3 1.3 612.8 611.9 856.9 269.2

II 12.3 12.3 219.0 183.2 1.3 1.3 598.2 597.4 830.7 259.5

III 12.9 12.9 218.9 183.0 0 0 594.0 593.0 825.8 259.0

IV 15.5 15.5 237.9 201.7 0 0 598.0 594.8 851.4 265.6

V 15.5 15.5 224.2 193.6 0 0 621.9 588.6 861.6 263.2

VI 15.0 15.0 232.7 190.5 0 0 613.3 576.4 861.1 269.8

VII 19.0 19.0 242.8 191.5 0 0 656.8 621.5 918.6 279.1

VIII 18.4 18.4 255.1 204.1 0 0 701.0 665.6 974.6 278.8

IX 17.0 17.0 262.2 217.4 0 0 719.4 684.3 998.6 285.3

X 14.4 14.4 261.4 206.3 0 0 716.4 681.9 992.1 284.8

XI 19.0 19.0 257.3 202.1 0 0 708.1 700.9 984.3 284.8

XII 16.6 16.6 246.1 200.0 0.5 0.5 614.3 605.2 877.5 272.9

2005

I 9.6 9.6 253.8 201.7 0.5 0.5 650.4 641.6 914.2 270.0

II 14.2 14.2 263.0 215.7 0 0 674.3 667.2 951.5 282.1

III 14.1 14.1 220.7 174.2 0 0 676.9 672.2 911.7 236.7

19.a

95

REZIDENTU NOGULDĪJUMU VALŪTU DALĪJUMS CURRENCY BREAKDOWN OF RESIDENT DEPOSITS (perioda beigās) (at end of period)

MFI MFIs

Ne-MFI Non-MFIs

Atlikums (visās valūtās; milj. latu) Outstanding amount (all currencies; in millions of lats)

Struktūra (%) Structure (%)



Latos In lats

Ārvalstu valūtā In foreign currencies

Latos In lats


t.sk. EUR incl. EUR

t.sk. USD incl. USD

t.sk. EUR incl. EUR

t.sk. USD incl. USD

2004

I 239.5 64.5 35.5 7.7 26.9 1 765.9 62.9 37.1 11.9 23.9

II 211.4 59.8 40.2 8.5 30.2 1 814.8 62.7 37.3 12.6 23.8

III 212.0 52.2 47.8 14.1 32.9 1 841.2 64.6 35.4 12.3 22.4

IV 203.2 66.7 33.3 5.4 26.9 1 970.8 63.4 36.6 14.5 21.4

V 164.1 53.0 47.0 11.6 34.0 2 065.7 64.9 35.1 13.9 20.5

VI 214.4 54.7 45.3 15.8 28.7 2 099.0 64.7 35.3 14.4 20.3

VII 218.9 52.0 48.0 14.7 32.2 2 122.4 62.3 37.7 15.9 21.0

VIII 264.2 58.3 41.7 12.7 28.0 2 172.4 62.5 37.5 16.3 20.3

IX 253.5 62.7 37.3 7.4 28.3 2 191.0 62.3 37.7 16.6 20.2

X 286.3 62.3 37.7 8.9 27.9 2 243.2 61.8 38.2 18.0 19.3

XI 230.2 52.0 48.0 12.7 34.0 2 310.0 62.8 37.2 18.8 17.5

XII 262.0 43.8 56.2 19.9 35.0 2 348.9 61.7 38.3 21.4 16.1

2005

I 241.7 50.1 49.9 11.3 34.9 2 374.3 60.9 39.1 21.8 16.4

II 229.8 44.2 55.8 16.1 38.5 2 422.7 61.3 38.7 21.7 16.0

III 265.4 51.0 49.0 15.1 33.1 2 520.7 61.7 38.3 21.5 15.9

20.a

96

NEREZIDENTU NOGULDĪJUMU VALŪTU DALĪJUMS CURRENCY BREAKDOWN OF NON-RESIDENT DEPOSITS (perioda beigās) (at end of period)

MFI MFIs

Ne-MFI Non-MFIs





Latos In lats


Latos In lats


t.sk. EUR incl. EUR

t.sk. USD incl. USD

t.sk. EUR incl. EUR

t.sk. USD incl. USD

2004

I 860.6 2.0 98.0 49.5 41.8 2 052.0 1.6 98.4 16.9 77.4

II 864.1 2.5 97.5 46.7 44.3 2 038.6 1.6 98.4 17.9 76.5

III 925.2 2.1 97.9 44.1 46.2 2 136.9 1.5 98.5 15.9 79.2

IV 903.2 1.2 98.8 49.7 43.5 2 198.9 1.6 98.4 14.8 80.6

V 934.8 2.3 97.7 52.2 39.2 2 263.8 1.6 98.4 14.0 79.9

VI 933.8 2.0 98.0 49.0 41.9 2 245.6 1.5 98.5 15.2 80.5

VII 1 047.5 2.7 97.3 54.3 36.8 2 384.1 1.5 98.5 15.9 80.0

VIII 1 114.8 1.8 98.2 56.9 38.0 2 463.5 1.4 98.6 16.3 79.4

IX 1 236.1 1.2 98.8 60.3 35.4 2 631.0 1.4 98.6 13.1 81.1

X 1 250.2 1.7 98.3 59.7 35.4 2 614.9 1.5 98.5 13.4 81.2

XI 1 393.3 2.5 97.5 62.1 32.5 2 576.1 1.5 98.5 16.1 77.4

XII 1 410.7 2.6 97.4 64.6 30.1 2 748.6 1.4 98.6 17.1 77.6

2005

I 1 427.0 1.4 98.6 66.8 29.5 2 934.5 1.2 98.8 17.6 77.5

II 1 499.6 1.4 98.6 71.9 23.6 2 856.6 1.2 98.8 17.4 78.1

III 1 604.5 1.7 98.3 72.8 22.1 2 873.9 1.1 98.9 18.2 76.7

20.b

97

REZIDENTIEM IZSNIEGTO KREDĪTU VALŪTU DALĪJUMS CURRENCY BREAKDOWN OF LOANS TO RESIDENTS (perioda beigās) (at end of period)

Ne-MFI Non-MFIs



Latos In lats


t.sk. EUR incl. EUR

t.sk. USD incl. USD

2004

I 2 702.0 44.0 56.0 18.9 35.2

II 2 793.0 43.5 56.5 19.5 35.6

III 2 885.1 43.3 56.7 19.6 35.6

IV 2 959.9 42.9 57.1 20.4 35.6

V 3 041.6 42.2 57.8 21.9 34.9

VI 3 126.6 41.9 58.1 22.8 34.3

VII 3 218.9 41.1 58.9 23.8 34.1

VIII 3 335.6 40.7 59.3 24.9 33.8

IX 3 467.5 40.6 59.4 26.3 32.5

X 3 596.0 40.2 59.8 27.9 31.3

XI 3 696.9 39.5 60.5 30.0 30.0

XII 3 804.8 39.1 60.9 31.9 28.5

2005

I 3 965.7 37.3 62.7 34.2 28.1

II 4 039.8 36.3 63.7 37.1 26.3

III 4 226.2 34.7 65.3 40.0 25.0

20.c

98

NEREZIDENTIEM IZSNIEGTO KREDĪTU VALŪTU DALĪJUMS CURRENCY BREAKDOWN OF LOANS TO NON-RESIDENTS (perioda beigās) (at end of period)

MFI MFIs

Ne-MFI Non-MFIs





Latos In lats


Latos In lats


t.sk. EUR incl. EUR

t.sk. USD incl. USD

t.sk. EUR incl. EUR

t.sk. USD incl. USD

2004

I 1 199.0 1.3 98.7 15.4 72.8 351.1 4.4 95.6 27.9 65.8

II 1 164.2 1.2 98.8 17.5 68.9 376.2 4.0 96.0 27.0 67.6

III 1 244.9 1.2 98.8 14.2 75.5 413.1 3.4 96.6 26.2 68.9

IV 1 236.4 0.3 99.7 13.4 79.0 458.0 2.6 97.4 25.1 71.0

V 1 322.4 1.5 98.5 12.7 75.9 456.8 2.3 97.7 26.7 70.2

VI 1 282.7 1.3 98.7 11.4 78.6 478.4 1.9 98.1 28.5 68.8

VII 1 412.6 0.8 99.2 20.0 71.4 501.7 1.6 98.4 27.7 70.0

VIII 1 424.5 0.9 99.1 18.2 72.8 504.3 1.8 98.2 27.0 70.0

IX 1 572.0 0.1 99.9 15.4 73.2 561.9 1.7 98.3 28.7 68.4

X 1 520.6 1.1 98.9 9.9 75.8 551.8 1.5 98.5 29.2 67.7

XI 1 560.9 2.0 98.0 15.6 66.5 570.4 1.4 98.6 29.3 67.7

XII 1 696.7 1.4 98.6 17.0 71.2 579.9 1.5 98.5 28.9 67.7

2005

I 1 804.6 0.8 99.2 17.0 72.4 616.6 1.5 98.5 28.3 68.2

II 1 635.9 0.7 99.3 11.7 77.6 630.2 1.9 98.1 30.3 65.9

III 1 637.8 1.3 98.7 16.2 68.7 657.5 1.8 98.2 29.8 66.6

20.d

99

REZIDENTU NEAKCIJU VĒRTSPAPĪRU TURĒJUMU VALŪTU DALĪJUMS CURRENCY BREAKDOWN OF RESIDENT HOLDINGS OF SECURITIES OTHER THAN SHARES (perioda beigās) (at end of period)

MFI MFIs

Ne-MFI Non-MFIs





Latos In lats


Latos In lats


t.sk. EUR incl. EUR

t.sk. USD incl. USD

t.sk. EUR incl. EUR

t.sk. USD incl. USD

2004

I 13.3 100.0 0 0 0 230.9 95.1 4.9 4.9 0

II 12.3 100.0 0 0 0 220.3 95.5 4.5 4.5 0

III 12.9 100.0 0 0 0 218.9 95.5 4.5 4.5 0

IV 15.5 100.0 0 0 0 237.9 89.6 10.4 10.4 0

V 15.5 100.0 0 0 0 224.2 94.0 6.0 6.0 0

VI 15.0 100.0 0 0 0 232.7 94.3 5.7 5.7 0

VII 19.0 74.9 25.1 0 25.1 242.8 94.5 5.5 5.5 0

VIII 18.4 74.8 25.2 0 25.2 255.1 89.9 10.1 10.1 0

IX 17.0 80.8 19.2 0 19.2 262.2 90.0 10.0 10.0 0

X 14.4 97.0 3.0 0 3.0 261.4 90.1 9.9 9.9 0

XI 19.0 83.9 16.1 0 16.1 257.3 90.8 9.2 9.2 0

XII 16.6 93.5 6.5 3.2 3.3 246.6 90.9 9.1 8.9 0.2

2005

I 9.6 89.8 10.2 3.7 6.6 254.3 91.1 8.9 8.7 0.2

II 14.2 79.4 20.6 3.5 17.1 263.0 91.6 8.4 8.4 0

III 14.1 78.9 21.1 3.5 17.6 220.7 88.7 11.3 11.3 0

20.e

100

MFI EMITĒTO PARĀDA VĒRTSPAPĪRU VALŪTU DALĪJUMS CURRENCY BREAKDOWN OF DEBT SECURITIES ISSUED BY MFIs (perioda beigās) (at end of period)



Latos In lats


2004

I 52.0 70.3 29.7

II 52.0 70.3 29.7

III 52.1 71.7 28.3

IV 52.2 71.6 28.4

V 72.3 51.8 48.2

VI 72.2 52.0 48.0

VII 77.4 55.2 44.8

VIII 78.8 56.0 44.0

IX 76.4 54.2 45.8

X 76.6 54.0 46.0

XI 86.4 58.9 41.1

XII 90.0 56.4 43.6

2005

I 80.6 34.5 65.5

II 84.9 36.6 63.4

III 90.3 39.9 60.1

20.g

NEREZIDENTU NEAKCIJU VĒRTSPAPĪRU TURĒJUMU VALŪTU DALĪJUMS CURRENCY BREAKDOWN OF NON-RESIDENT HOLDINGS OF SECURITIES OTHER THAN SHARES (perioda beigās) (at end of period)

MFI MFIs

Ne-MFI Non-MFIs





Latos In lats


Latos In lats


t.sk. EUR incl. EUR

t.sk. USD incl. USD

t.sk. EUR incl. EUR

t.sk. USD incl. USD

2004

I 309.0 11.7 88.3 28.0 58.9 303.7 0 100.0 25.0 69.1

II 306.8 12.0 88.0 29.6 57.9 291.4 0 100.0 25.8 68.3

III 321.6 11.5 88.5 29.0 59.1 272.4 0 100.0 21.8 72.8

IV 330.7 11.2 88.8 28.8 58.8 267.3 0 100.0 21.7 73.0

V 326.8 11.3 88.7 30.8 56.7 295.1 0 100.0 21.9 73.1

VI 314.1 11.3 88.7 25.0 62.5 299.3 0 100.0 20.6 74.6

VII 333.7 10.6 89.4 24.9 63.9 323.1 0 100.0 20.1 75.3

VIII 349.4 10.2 89.8 25.7 63.6 351.6 0 100.0 22.1 73.8

IX 374.4 9.5 90.5 28.6 61.4 345.0 0 100.0 23.3 72.4

X 359.6 9.8 90.2 32.0 57.6 356.7 0 100.0 26.4 72.6

XI 373.2 9.5 90.5 28.8 61.2 334.9 0 100.0 24.5 74.3

XII 323.3 10.3 89.7 31.6 56.6 291.0 0 100.0 27.0 71.3

2005

I 336.5 8.9 91.1 28.6 60.7 313.9 0 100.0 23.0 74.4

II 361.8 8.2 91.8 31.6 58.4 312.4 0 100.0 24.1 72.5

III 341.6 8.8 91.2 24.0 63.9 335.3 0 100.0 22.4 73.8

20.f

101

VIDĒJĀS SVĒRTĀS PROCENTU LIKMES MFI DARĪJUMOS AR REZIDENTU NEFINANŠU SABIEDRĪBĀM UN MĀJSAIMNIECĪBĀM LATOS WEIGHTED AVERAGE INTEREST RATES CHARGED BY MFIs IN TRANSACTIONS WITH RESIDENT NON-FINANCIAL CORPORATIONS AND HOUSEHOLDS IN LATS (%)

1. Noguldījumu procentu likmes (jaunajiem darījumiem) / Interest rates on deposits (new business)

Mājsaimniecību noguldījumi Deposits from households

Repo darījumi

Repos

Uz nakti1 Overnight1


Ar brīdinājuma termiņu par izņemšanu1, 2 Redeemable at notice1, 2




1–2 gadi Over 1 and up to 2 years







I 0.50 3.19 4.53 4.05 2.53 x 0.75 2.64 4.19 4.95 –

II 0.89 2.75 4.87 4.92 2.91 x 0.80 2.45 4.58 3.07 –

III 0.93 2.98 4.64 5.30 2.92 x 0.96 3.35 3.04 4.65 –

Nefinanšu sabiedrību noguldījumi Deposits from non-financial corporations

2004

IV 1.02 3.49 4.75 5.17 2.93 x 0.83 3.50 3.80 x –

V 1.01 3.45 4.57 5.99 2.92 x 0.69 2.92 4.42 4.51 –

VI 0.87 3.85 4.62 5.19 2.87 x 0.97 3.17 3.78 5.01 –

VII 0.72 3.55 4.44 4.89 2.90 – 1.07 3.36 4.28 5.17 –

VIII 0.58 3.39 4.48 5.45 2.93 – 1.22 3.44 4.20 5.15 –

IX 0.59 3.42 4.71 4.93 2.93 – 1.17 3.40 3.79 x –

X 0.60 3.45 4.44 4.75 2.92 – 1.07 3.38 3.18 5.70 –

XI 0.59 3.73 4.52 5.83 2.92 x 1.13 3.56 4.11 3.98 –

XII 0.58 3.92 5.29 5.32 2.93 – 0.89 3.33 4.13 3.10 –

2005

I 0.55 3.75 4.04 4.58 2.93 – 1.20 3.34 x 4.88 –

II 0.55 3.36 4.32 4.36 2.97 – 0.94 3.30 3.83 3.41 –

III 0.53 3.42 4.29 4.79 2.75 – 0.71 2.66 4.18 x –

21.a

¹ Šajā instrumentu kategorijā jauno darījumu apjoms un atlikums sakrīt. Perioda beigu dati. ¹ For this instrument category, new business and outstanding amounts coincide. End-of-period. ² Šajā instrumentu kategorijā mājsaimniecību un nefinanšu sabiedrību dati summēti un iekļauti mājsaimniecību sektorā. ² For this instrument category, households and non-financial corporations are merged and allocated to the household sector.

102

2. Mājsaimniecībām izsniegto kredītu procentu likmes (jaunajiem darījumiem) / Interest rates on loans to households (new business)

Norēķinu konta debeta atlikums1 Bank overdraft1



Citi kredīti procentu likmes darbības sākotnējā perioda dalījumā Other lending by initial rate fixation

Procentu likmes darbības sākotnējā perioda dalījumā By initial rate fixation

Efektīvā gada izmaksu procentu likme2 Annual percentage rate of charge2



Mainīgā procentu likme, līdz 1 gadam Floating rate and up to 1 year

Ilgāk par 1 gadu Over 1 year







2004

I 18.88 8.19 10.14 8.39 8.72 8.53 11.15 14.66 13.59 4.47 4.36

II 19.02 8.15 9.36 8.37 7.43 8.57 12.69 15.36 15.09 3.83 9.53

III 20.08 8.23 8.68 8.04 7.98 8.62 11.10 17.43 14.03 4.98 8.27

IV 12.11 8.44 8.13 8.20 7.94 8.57 13.00 16.06 15.30 4.96 8.09

V 19.89 8.16 8.36 8.19 7.83 8.43 13.95 15.43 15.63 4.57 8.55

VI 19.28 8.09 8.29 8.14 7.34 8.33 13.91 15.31 15.97 4.06 9.55

VII 19.64 7.81 8.51 7.82 7.10 8.25 13.52 15.99 15.67 3.83 8.50

VIII 19.73 7.81 8.72 8.14 7.07 8.21 12.31 16.00 14.41 5.26 8.75

IX 19.70 7.83 7.96 8.55 6.94 8.04 12.70 15.74 15.04 4.94 6.61

X 19.78 7.62 7.73 8.39 7.30 7.87 12.49 16.36 14.95 5.60 8.83

XI 19.70 7.70 8.28 8.52 7.86 8.20 13.35 14.95 15.14 6.15 9.47

XII 19.76 7.51 7.70 7.91 6.69 7.77 13.39 15.38 15.73 5.80 9.29

2005

I 19.96 7.58 7.92 7.92 6.44 7.75 12.97 18.58 16.44 4.38 9.17

II 20.05 7.00 8.18 7.90 7.10 7.46 12.82 17.06 16.21 4.93 9.52

III 20.13 6.81 7.67 7.65 7.06 7.31 12.78 17.94 16.58 5.29 8.49

VIDĒJĀS SVĒRTĀS PROCENTU LIKMES MFI DARĪJUMOS AR REZIDENTU NEFINANŠU SABIEDRĪBĀM UN MĀJSAIMNIECĪBĀM LATOS (TURPINĀJUMS) WEIGHTED AVERAGE INTEREST RATES CHARGED BY MFIs IN TRANSACTIONS WITH RESIDENT NON-FINANCIAL CORPORATIONS AND HOUSEHOLDS IN LATS (CONT.) (%)

21.a

¹ Šajā instrumentu kategorijā jauno darījumu apjoms un atlikums sakrīt. Perioda beigu dati. ¹ For this instrument category, new business and outstanding amounts coincide. End-of-period. 2 Efektīvā gada izmaksu procentu likme nosedz kredīta kopējās izmaksas. Kopējās izmaksas sastāv no procentu izmaksu daļas un citu (saistīto) izmaksu daļas, piemēram, maksa par izziņām, administrācijas, dokumentu sagatavošanas, garantiju utt. izmaksas. 2 The annual percentage rate of charge covers the total cost of a loan. The total cost comprises an interest rate component and a component of other (related) charges, such as the cost of inquiries, administration, preparation of documents, guarantees, etc.

103

1 Šajā instrumentu kategorijā jauno darījumu apjoms un atlikums sakrīt. Perioda beigu dati. 1 For this instrument category, new business and outstanding amounts coincide. End-of-period.

3. Nefinanšu sabiedrībām izsniegto kredītu procentu likmes (jaunajiem darījumiem) / Interest rates on loans to non-financial corporations (new business)


Citi kredīti, kuru apjoms nepārsniedz 0.2 milj. eiro, procentu likmes darbības sākotnējā perioda dalījumā Other loans up to 0.2 million euros by initial rate fixation

Citi kredīti ar apjomu no 0.2 milj. eiro līdz 1 milj. eiro procentu likmes darbības sākotnējā perioda dalījumā Other loans over 0.2 million euros and up to 1 million euros by initial rate fixation

Citi kredīti, kuru apjoms pārsniedz 1 milj. eiro, procentu likmes darbības sākotnējā perioda dalījumā Other loans over 1 million euros by initial rate fixation







2004

I 6.32 8.47 9.39 6.09 – 5.96 –

II 7.11 8.35 8.45 7.51 7.69 6.85 x

III 7.22 8.51 8.57 6.76 7.82 7.75 –

IV 7.21 8.46 8.24 6.71 x 6.73 –

V 6.95 8.16 8.74 6.70 9.91 x x

VI 7.58 8.07 6.13 6.20 x 7.18 x

VII 8.22 7.82 8.13 6.42 x x 7.05

VIII 7.78 8.03 8.28 6.12 x 6.55 –

IX 7.41 8.39 9.82 6.79 9.11 x x

X 7.38 8.50 9.45 7.09 7.45 6.30 4.22

XI 7.28 8.48 8.35 7.01 8.78 5.72 7.53

XII 6.90 8.17 8.29 6.57 8.87 6.75 x

2005

I 6.83 8.12 8.37 6.81 7.80 6.75 –

II 6.77 8.38 8.47 6.99 7.79 6.69 –

III 5.96 7.46 7.90 6.78 7.97 5.43 x


21.a

104

4. Noguldījumu procentu likmes (atlikumiem) / Interest rates on deposits (outstanding amounts)


Nefinanšu sabiedrību Non-financial corporations







Līdz 2 gadiem Up to 2 years






2004

I 0.50 4.41 6.05 2.53 x 0.75 3.63 5.63 –

II 0.89 4.42 6.16 2.91 x 0.80 3.60 5.56 –

III 0.93 4.45 6.14 2.92 x 0.96 3.71 5.54 –

IV 1.02 4.42 5.78 2.93 x 0.83 3.74 5.52 –

V 1.01 4.41 6.12 2.92 x 0.69 3.43 5.52 –

VI 0.87 4.41 6.04 2.87 x 0.97 3.67 5.51 –

VII 0.72 4.39 6.05 2.90 – 1.07 3.80 5.52 –

VIII 0.58 4.39 6.05 2.93 – 1.22 3.81 5.52 –

IX 0.59 4.37 6.04 2.93 – 1.17 3.80 5.53 –

X 0.60 4.38 6.00 2.92 – 1.07 3.83 5.65 –

XI 0.59 4.38 5.98 2.92 x 1.13 3.89 5.43 –

XII 0.58 4.37 5.81 2.93 – 0.89 3.78 5.40 –

2005

I 0.55 4.36 5.68 2.93 – 1.20 3.74 5.38 –

II 0.55 4.33 5.65 2.97 – 0.94 3.76 5.39 –

III 0.53 4.29 5.58 2.75 – 0.71 3.51 5.38 –

1 Šajā instrumentu kategorijā jauno darījumu apjoms un atlikums sakrīt. Perioda beigu dati. 1 For this instrument category, new business and outstanding amounts coincide. End-of-period. 2 Šajā instrumentu kategorijā mājsaimniecību un nefinanšu sabiedrību dati summēti un iekļauti mājsaimniecību sektorā. 2 For this instrument category, households and non-financial corporations are merged and allocated to the household sector.


21.a

105


5. Kredītu procentu likmes (atlikumiem) / Interest rates on loans (outstanding amounts)

Kredīti mājsaimniecībām Loans to households

Kredīti nefinanšu sabiedrībām Loans to non-financial corporations

Kredīti mājokļa iegādei ar termiņu Lending for house purchase, with maturity

Patēriņa un pārējie kredīti ar termiņu Consumer credit and other loans, with maturity

Ar termiņu With maturity




Līdz 1 gadam1 Up to 1 year1






2004

I 9.36 8.25 8.33 11.34 10.74 7.37 7.54 7.71 7.47

II 9.70 8.21 8.29 13.15 10.70 7.35 7.69 7.66 7.46

III 9.55 8.12 8.28 13.50 10.65 6.43 7.73 7.67 7.52

IV 9.77 8.15 8.32 11.00 10.80 5.97 7.88 7.77 7.36

V 9.58 8.10 8.29 12.11 10.92 6.44 7.91 7.70 7.41

VI 9.41 7.98 8.13 14.24 10.75 6.13 8.11 7.49 7.38

VII 9.29 7.74 7.99 14.92 10.70 6.10 8.21 7.37 7.31

VIII 10.37 7.71 7.88 14.95 10.62 6.24 7.97 7.33 7.23

IX 9.75 7.66 7.80 15.33 10.68 6.28 7.78 7.35 7.22

X 9.81 7.79 7.78 15.812 13.24 6.23 7.782 7.27 7.30

XI 10.28 7.80 7.79 16.042 13.27 6.21 7.782 7.42 7.15

XII 9.40 7.83 7.79 16.582 13.42 6.22 7.542 7.45 7.10

2005

I 11.16 7.83 7.66 16.96 13.54 6.26 7.48 7.41 6.87

II 9.96 7.69 7.53 17.68 13.51 5.64 7.36 7.29 6.77

III 9.19 7.40 7.21 17.60 13.47 5.41 6.92 7.02 6.56

21.a

1 Ietverot norēķinu konta debeta atlikumu. 1 Including bank overdraft. 2 Dati precizēti. 2 Data have been revised.

106


VIDĒJĀS SVĒRTĀS PROCENTU LIKMES MFI DARĪJUMOS AR REZIDENTU NEFINANŠU SABIEDRĪBĀM UN MĀJSAIMNIECĪBĀM EIRO WEIGHTED AVERAGE INTEREST RATES CHARGED BY MFIs IN TRANSACTIONS WITH RESIDENT NON-FINANCIAL CORPORATIONS AND HOUSEHOLDS IN EUROS (%)

21.b


















2004

I 1.65 2.42 3.54 3.98 2.25 – 0.64 1.83 x x –

II 1.66 2.05 3.03 3.03 2.35 – 0.53 1.63 x x –

III 1.54 2.05 2.94 3.61 2.31 – 0.35 1.94 x x –

IV 1.36 2.24 3.32 3.72 2.31 – 0.44 1.90 x – –

V 1.34 2.31 2.84 3.24 2.31 – 0.41 1.85 x x –

VI 0.98 2.41 3.10 3.74 2.31 – 0.44 1.66 – – –

VII 0.78 2.18 2.80 3.34 2.39 – 0.61 2.07 x – –

VIII 0.73 2.19 3.27 3.13 2.30 – 0.47 1.91 x – –

IX 0.82 2.27 3.19 2.77 2.30 – 0.57 1.97 x – –

X 0.94 2.12 3.03 4.17 2.31 – 0.66 1.86 x 2.62 –

XI 1.00 2.25 3.15 3.25 2.32 – 0.48 1.90 x 2.54 –

XII 1.01 2.31 3.09 3.57 2.33 – 0.56 2.04 x x –

2005

I 1.36 2.24 3.06 3.60 2.31 – 0.65 1.72 x x –

II 1.06 2.20 3.17 3.55 2.23 – 0.66 1.83 – x –

III 1.23 2.24 3.05 4.45 2.00 – 0.72 1.90 x x –

107


















2004

I 7.77 6.14 5.45 7.77 – 6.49 7.58 7.70 7.80 4.38 6.16

II 7.68 5.23 6.56 7.87 7.42 5.70 6.57 7.97 6.78 3.28 7.00

III 7.99 5.75 5.97 5.73 6.07 6.03 6.49 8.33 6.91 4.52 7.07

IV 6.78 5.66 6.06 6.22 x 6.17 6.66 7.81 6.95 4.57 4.91

V 7.48 5.61 6.07 6.45 x 5.96 6.90 6.94 6.94 4.79 7.42

VI 9.36 5.15 7.08 5.90 x 5.27 6.82 6.97 6.93 3.59 5.56

VII 9.03 5.26 6.37 7.45 x 5.60 6.22 7.29 6.40 4.25 4.75

VIII 8.12 5.06 5.55 6.07 5.48 5.42 5.39 7.19 5.56 3.54 6.41

IX 8.09 5.32 6.21 5.64 6.52 5.48 6.23 7.30 6.44 4.07 6.39

X 7.87 4.84 5.60 5.70 5.70 4.96 5.71 6.30 5.88 3.84 6.64

XI 7.27 4.93 5.85 6.44 5.41 5.06 4.80 6.84 6.95 4.09 5.83

XII 6.87 4.95 5.08 4.79 4.25 5.01 6.06 6.98 6.33 3.94 5.973

2005

I 7.15 5.83 6.03 4.38 4.20 5.64 5.55 5.52 5.62 4.37 6.10

II 6.90 4.87 5.43 5.63 5.41 4.99 5.61 6.28 5.80 4.13 5.63

III 7.11 4.78 5.81 5.35 4.92 4.90 5.28 6.41 5.42 4.45 6.11

1 Šajā instrumentu kategorijā jauno darījumu apjoms un atlikums sakrīt. Perioda beigu dati. 1 For this instrument category, new business and outstanding amounts coincide. End-of-period. 2 Efektīvā gada izmaksu procentu likme nosedz kredīta kopējās izmaksas. Kopējās izmaksas sastāv no procentu izmaksu daļas un citu (saistīto) izmaksu daļas, piemēram, maksa par izziņām, administrācijas, dokumentu sagatavošanas, garantiju utt. izmaksas. 2 The annual percentage rate of charge covers the total cost of a loan. The total cost comprises an interest rate component and a component of other (related) charges, such as the cost of inquiries, administration, preparation of documents, guarantees, etc. 3 Dati precizēti. 3 Data have been revised.

VIDĒJĀS SVĒRTĀS PROCENTU LIKMES MFI DARĪJUMOS AR REZIDENTU NEFINANŠU SABIEDRĪBĀM UN MĀJSAIMNIECĪBĀM EIRO (TURPINĀJUMS) WEIGHTED AVERAGE INTEREST RATES CHARGED BY MFIs IN TRANSACTIONS WITH RESIDENT NON-FINANCIAL CORPORATIONS AND HOUSEHOLDS IN EUROS (CONT.) (%)

21.b

108












2004

I 4.68 7.72 7.96 5.42 x 3.24 –

II 4.87 6.14 7.47 5.19 x 5.01 x

III 4.48 6.41 7.50 5.36 x 4.55 –

IV 4.34 6.86 7.35 5.88 3.69 5.99 x

V 3.91 6.58 6.17 5.90 – 6.83 –

VI 4.10 6.09 3.44 5.39 5.18 4.79 x

VII 4.27 6.28 7.24 5.16 x 5.41 –

VIII 4.24 6.01 7.28 5.10 6.22 3.86 x

IX 4.34 6.13 6.44 4.92 x 5.04 x

X 4.10 5.71 6.89 4.99 5.08 4.88 –

XI 7.59 6.00 6.90 5.03 6.38 3.56 2.01

XII 4.36 5.77 6.84 5.24 6.19 5.03 x

2005

I 4.38 5.81 5.98 5.17 x 4.23 x

II 4.24 5.73 6.12 5.14 6.27 4.69 x

III 4.74 5.80 6.96 4.62 4.95 4.48 x


21.b


109
















2004

I 1.65 3.28 4.09 2.25 – 0.64 2.21 3.03 –

II 1.66 3.26 4.11 2.35 – 0.53 2.18 2.91 –

III 1.54 3.16 4.09 2.31 – 0.35 2.11 2.89 –

IV 1.36 3.08 3.97 2.31 – 0.44 2.08 2.89 –

V 1.34 3.07 4.03 2.31 – 0.41 2.24 2.89 –

VI 0.98 3.07 4.01 2.31 – 0.44 2.25 2.89 –

VII 0.78 3.01 4.00 2.39 – 0.61 2.18 2.87 –

VIII 0.73 2.92 3.98 2.30 – 0.47 2.21 2.89 –

IX 0.82 2.86 3.94 2.30 – 0.57 2.23 2.89 –

X 0.94 2.84 3.92 2.31 – 0.66 2.09 2.84 –

XI 1.00 2.81 3.89 2.32 – 0.48 2.13 2.84 –

XII 1.01 2.70 3.88 2.33 – 0.56 2.24 2.74 –

2005

I 1.36 2.74 3.84 2.31 – 0.65 2.18 2.71 –

II 1.06 2.76 3.84 2.23 – 0.66 2.14 2.66 –

III 1.23 2.75 3.83 2.00 – 0.72 2.16 2.71 –


21.b


110
















2004

I 5.81 5.40 4.65 5.18 7.86 4.33 5.88 6.03 5.76

II 5.97 5.20 4.71 5.29 7.06 4.34 5.77 6.53 5.66

III 5.74 5.15 4.65 5.13 7.24 4.41 5.80 6.28 5.55

IV 4.82 4.86 4.78 4.92 6.92 4.48 5.75 5.89 5.33

V 5.06 4.77 4.83 4.96 6.62 4.56 5.50 5.78 5.33

VI 4.90 4.84 4.97 5.52 6.54 4.56 5.37 5.39 5.22

VII 4.47 4.91 4.96 5.43 6.07 4.68 5.49 5.41 5.21

VIII 4.52 4.99 4.97 5.31 5.80 4.71 5.34 5.30 5.17

IX 4.96 4.90 4.93 5.36 5.89 4.76 5.39 5.27 5.20

X 6.40 4.98 4.92 5.512 5.91 4.84 5.192 5.27 5.20

XI 5.42 4.92 4.89 5.282 5.86 4.68 6.162 5.24 5.09

XII 5.50 4.98 4.85 5.062 5.84 4.82 5.292 5.21 5.10

2005

I 5.55 5.09 4.78 5.09 5.82 4.82 5.23 5.14 4.77

II 5.16 5.03 4.75 5.10 5.66 4.81 5.15 5.10 4.70

III 5.17 4.90 4.70 5.38 5.48 4.78 5.20 5.06 4.72


21.b


111

VIDĒJĀS SVĒRTĀS PROCENTU LIKMES MFI DARĪJUMOS AR REZIDENTU NEFINANŠU SABIEDRĪBĀM UN MĀJSAIMNIECĪBĀM ASV DOLĀROS WEIGHTED AVERAGE INTEREST RATES CHARGED BY MFIs IN TRANSACTIONS WITH RESIDENT NON-FINANCIAL CORPORATIONS AND HOUSEHOLDS IN US DOLLARS (%)

21.c



















2004

I 2.30 1.30 2.14 4.55 1.17 – 0.52 0.86 x – –

II 2.16 1.22 2.65 3.61 1.36 – 0.40 0.91 x x –

III 2.07 1.17 2.15 3.45 1.37 – 0.42 1.18 x – –

IV 1.75 1.63 2.17 3.38 1.36 – 0.45 1.06 2.28 2.84 –

V 1.91 1.40 1.93 3.61 1.37 – 0.45 1.28 x – –

VI 1.38 1.46 2.39 4.25 1.38 – 0.44 1.19 x – –

VII 0.89 1.58 2.62 4.29 1.48 – 0.57 1.34 x – –

VIII 0.99 1.79 2.86 3.56 1.40 – 0.66 1.49 x x –

IX 0.82 1.78 2.99 3.97 1.40 – 0.80 1.71 2.45 3.19 –

X 0.77 1.74 3.07 3.54 1.42 – 0.79 1.72 2.52 x –

XI 0.83 2.13 3.19 3.98 1.41 – 0.92 1.88 2.53 – –

XII 0.99 2.23 3.33 4.20 1.40 – 1.06 2.15 x – –

2005

I 1.27 2.28 3.15 4.17 1.46 – 1.20 2.24 x x –

II 1.52 2.37 3.31 3.79 1.66 – 1.16 2.10 – x –

III 1.54 2.54 3.60 4.12 1.53 – 1.10 2.52 x – –

112


















2004

I 7.07 5.70 8.67 5.58 4.51 6.48 5.96 6.51 6.22 4.66 6.85

II 7.03 4.89 5.44 4.74 6.32 5.27 6.12 8.27 6.44 4.03 7.58

III 6.80 5.68 5.75 5.39 4.98 6.18 6.75 8.24 7.01 4.88 6.70

IV 6.68 5.54 5.75 5.62 5.27 5.86 6.38 5.70 6.44 4.75 7.17

V 6.58 5.73 6.65 5.81 4.52 5.88 7.01 4.20 6.85 5.89 5.90

VI 8.75 4.93 5.26 5.12 5.71 5.11 6.37 5.66 6.35 4.93 7.45

VII 9.74 5.22 6.38 6.06 5.74 5.74 6.78 5.63 6.89 5.18 7.29

VIII 8.90 5.07 5.99 5.78 5.04 5.26 6.84 6.49 6.95 5.21 6.97

IX 8.65 5.32 5.96 5.29 4.85 5.45 7.20 5.96 7.30 5.44 6.78

X 8.63 5.29 6.40 6.12 6.02 5.49 7.22 6.99 7.29 5.96 5.63

XI 9.06 5.53 6.90 5.39 5.40 5.67 7.57 6.61 7.73 5.46 6.63

XII 9.17 5.61 6.21 6.37 5.19 5.76 8.40 5.38 8.20 5.22 6.48

2005

I 10.21 6.04 6.42 5.94 5.07 6.14 8.54 6.22 8.50 5.93 x

II 10.07 5.61 6.76 5.76 5.94 5.80 10.74 6.30 9.69 6.20 8.08

III 9.98 6.29 7.71 5.86 6.10 6.37 7.04 6.65 7.12 5.77 6.56

VIDĒJĀS SVĒRTĀS PROCENTU LIKMES MFI DARĪJUMOS AR REZIDENTU NEFINANŠU SABIEDRĪBĀM UN MĀJSAIMNIECĪBĀM ASV DOLĀROS (TURPINĀJUMS) WEIGHTED AVERAGE INTEREST RATES CHARGED BY MFIs IN TRANSACTIONS WITH RESIDENT NON-FINANCIAL CORPORATIONS AND HOUSEHOLDS IN US DOLLARS (CONT.) (%)

21.c

1 Šajā instrumentu kategorijā jauno darījumu apjoms un atlikums sakrīt. Perioda beigu dati. 1 For this instrument category, new business and outstanding amounts coincide. End-of-period. 2 Efektīvā gada izmaksu procentu likme nosedz kredīta kopējās izmaksas. Kopējās izmaksas sastāv no procentu izmaksu daļas un citu (saistīto) izmaksu daļas, piemēram, maksa par izziņām, administrācijas, dokumentu sagatavošanas, garantiju utt. izmaksas. 2 The annual percentage rate of charge covers the total cost of a loan. The total cost comprises an interest rate component and a component of other (related) charges, such as the cost of inquiries, administration, preparation of documents, guarantees, etc.

113












2004

I 2.72 5.05 5.80 4.59 x 4.07 –

II 2.85 4.66 5.85 4.59 6.80 3.67 –

III 3.11 6.26 6.25 5.27 6.58 4.33 x

IV 3.10 4.72 9.28 4.97 x 4.10 x

V 3.08 4.67 5.76 5.21 x 4.71 –

VI 3.44 4.39 3.85 3.73 6.29 4.32 –

VII 3.37 4.32 7.68 4.06 5.44 3.99 –

VIII 3.53 4.90 7.78 4.71 x 3.93 –

IX 3.75 4.58 5.75 4.55 x 5.04 –

X 3.86 5.25 6.19 4.67 x 4.65 –

XI 4.03 5.31 7.46 4.69 x 5.72 –

XII 3.97 5.40 7.85 5.04 x 5.08 x

2005

I 4.27 5.92 8.03 5.88 x 5.44 –

II 4.34 6.12 9.06 5.32 x 5.81 –

III 4.46 5.64 5.77 5.39 5.80 6.65 –



21.c

114
















2004

I 2.30 2.24 4.58 1.17 – 0.52 1.43 2.78 –

II 2.16 2.23 4.63 1.36 – 0.40 1.62 2.64 –

III 2.07 2.21 4.59 1.37 – 0.42 1.56 2.64 –

IV 1.75 2.21 5.02 1.36 – 0.45 1.52 2.64 –

V 1.91 2.15 4.51 1.37 – 0.45 1.51 2.63 –

VI 1.38 2.14 4.51 1.38 – 0.44 1.48 2.63 –

VII 0.89 2.21 4.66 1.48 – 0.57 1.55 2.65 –

VIII 0.99 2.26 4.64 1.40 – 0.66 1.63 2.65 –

IX 0.82 2.27 4.63 1.40 – 0.80 1.87 2.66 –

X 0.77 2.28 4.59 1.42 – 0.79 1.86 2.66 –

XI 0.83 2.35 4.58 1.41 – 0.92 2.04 2.66 –

XII 0.99 2.38 4.54 1.40 – 1.06 2.06 2.56 –

2005

I 1.27 2.47 4.44 1.46 – 1.20 2.28 2.57 –

II 1.52 2.54 4.42 1.66 – 1.16 2.11 2.58 –

III 1.53 2.62 4.41 1.53 – 1.10 2.62 2.58 –



21.c

115
















2004

I 5.86 5.90 5.23 6.61 6.28 5.66 4.10 5.42 5.14

II 6.33 5.74 5.17 6.63 6.18 5.24 4.10 5.35 5.08

III 5.46 5.69 5.10 6.44 6.16 5.28 4.24 5.22 5.03

IV 5.54 5.61 4.97 6.14 5.87 5.14 4.28 5.08 5.04

V 5.66 5.51 5.00 6.26 5.84 5.14 4.22 4.99 5.12

VI 6.14 5.51 5.17 7.20 5.80 5.26 4.47 5.10 5.08

VII 6.27 5.53 5.29 7.43 5.83 5.24 4.54 5.15 5.17

VIII 6.16 5.64 5.28 7.24 5.80 5.24 4.64 5.17 5.17

IX 6.47 5.64 5.33 7.27 5.92 5.32 4.68 5.31 5.26

X 7.78 5.74 5.35 7.572 5.94 5.35 4.682 5.43 5.28

XI 6.17 5.86 5.57 7.592 6.07 5.46 4.722 5.53 5.34

XII 6.24 5.99 5.62 8.042 6.18 5.42 4.782 5.66 5.38

2005

I 7.02 6.08 5.71 8.54 6.27 5.51 4.96 5.77 5.57

II 7.10 6.17 5.80 8.42 6.41 5.64 5.15 5.88 5.58

III 8.62 6.29 5.91 7.99 6.51 5.72 5.20 6.08 5.76



21.c

116

Kredīti nerezidentu MFI Loans to non-resident MFIs


Uz nakti Overnight

Līdz 1 mēn. Up to 1 month

1–3 mēn. 1–3 months

Ilgāk par 3 mēn. Over 3 months

2004

I 8 346.1 499.7 25.9 2.3 8 874.0 9 769.3

II 7 942.7 443.9 22.6 1.4 8 410.6 9 309.2

III 10 327.5 639.0 24.8 4.6 10 995.9 11 955.8

IV 11 222.0 979.7 30.2 13.1 12 245.0 13 172.6

V 9 659.9 1 291.0 40.0 2.9 10 993.8 11 906.3

VI 10 262.4 948.7 60.3 6.1 11 277.5 12 237.7

VII 12 029.7 320.2 55.9 14.3 12 420.1 13 469.5

VIII 12 237.2 531.8 18.5 2.2 12 789.7 13 837.5

IX 13 346.0 361.4 35.0 6.8 13 749.2 14 861.8

X 12 915.8 480.9 57.3 2.5 13 456.5 14 578.9

XI 10 228.2 1 069.1 7.5 26.2 11 331.0 12 412.0

XII 13 007.3 1 131.1 16.0 34.9 14 189.3 15 683.4

2005

I 13 863.4 1 222.5 13.8 6.4 15 106.1 16 503.9

II 11 133.7 1 055.8 37.9 15.1 12 242.5 13 692.0

III 13 616.7 836.4 31.7 5.6 14 490.4 16 317.3

STARPBANKU TIRGOS IZSNIEGTIE KREDĪTI LENDING IN THE INTERBANK MARKETS (milj. latu) (in millions of lats)

Kredīti rezidentu MFI Loans to resident MFIs

Latos In lats


Uz nakti Overnight




Uz nakti Overnight




2004

I 347.7 93.0 1.7 – 442.4 380.5 70.4 2.0 – 452.9 895.3

II 395.1 106.0 3.6 0.9 505.6 353.1 37.2 1.9 0.8 393.0 898.6

III 407.2 68.7 1.5 – 477.4 444.4 38.1 – – 482.5 959.9

IV 415.3 101.1 0.2 3.7 520.3 346.8 56.2 0.8 3.5 407.3 927.6

V 426.7 93.4 10.1 1.3 531.5 309.7 65.9 4.6 0.8 381.0 912.5

VI 435.9 171.2 2.5 – 609.6 282.3 66.3 2.0 – 350.6 960.2

VII 590.5 76.2 0.1 – 666.8 334.3 47.6 0.7 – 382.6 1 049.4

VIII 507.1 39.7 7.9 1.1 555.8 401.6 85.0 4.3 1.1 492.0 1 047.8

IX 562.1 61.3 – – 623.4 402.5 85.3 1.4 – 489.2 1 112.6

X 565.6 75.1 – 2.8 643.5 418.4 54.0 3.1 3.4 478.9 1 122.4

XI 381.9 158.0 4.8 1.1 545.8 423.4 108.0 2.8 1.0 535.2 1 081.0

XII 508.9 173.0 3.7 2.6 688.2 678.7 123.6 1.9 1.7 805.9 1 494.1

2005

I 534.4 120.3 5.4 0.8 660.9 599.3 136.6 0.8 0.2 736.9 1 397.8

II 711.1 80.3 8.2 2.4 802.0 510.1 128.2 9.2 – 647.5 1 449.5

III 840.2 208.3 4.9 3.9 1 057.3 587.1 175.9 5.0 1.6 769.6 1 826.9

22.

117

KREDĪTU PROCENTU LIKMES IEKŠZEMES STARPBANKU TIRGŪ INTEREST RATES IN THE DOMESTIC INTERBANK MARKET (% gadā) (% per annum)

2004


Latos izsniegto kredītu vidējās svērtās procentu likmes Weighted average interest rates on loans in lats

Uz nakti Overnight 3.5 2.8 3.4 3.5 2.5 2.8 2.8 3.6 3.4 3.8 3.4 3.5

Līdz 1 mēn. Up to 1 month 3.5 3.0 3.5 3.6 2.9 2.9 3.1 3.7 3.6 3.7 3.4 3.5

1–3 mēn. 1–3 months 3.5 3.7 3.3 4.0 3.4 3.5 2.9 3.5 – – 3.9 3.5

Ilgāk par 3 mēn. Over 3 months – 3.1 – 3.5 3.2 – – 3.4 – 3.5 3.7 3.6

Ārvalstu valūtā izsniegto kredītu vidējās svērtās procentu likmes Weighted average interest rates on loans in foreign currencies

Uz nakti Overnight 1.4 1.5 1.6 1.7 1.8 1.8 1.9 1.9 2.0 2.1 2.3 2.3

Līdz 1 mēn. Up to 1 month 1.4 1.9 1.9 2.0 1.9 2.1 2.2 2.0 2.2 2.4 2.5 2.6

1–3 mēn. 1–3 months 1.6 3.0 – 1.9 1.7 2.2 2.0 2.0 2.1 2.1 2.6 2.4

Ilgāk par 3 mēn. Over 3 months 2.1 1.5 – 1.6 1.8 – – 2.3 – 3.3 2.6 2.8

2005

I II III

2.6 3.5 2.2

2.8 3.7 2.3

3.2 3.4 2.4

3.1 3.1 2.5

2.4 2.4 2.6

2.3 2.4 2.6

2.1 2.9 2.9

2.5 – 3.5

23.a

LATVIJAS BANKAS NOTEIKTĀS PROCENTU LIKMES INTEREST RATES SET BY THE BANK OF LATVIA (% gadā) (% per annum)

Spēkā stāšanās datums Effective date (dd.mm.yyyy.)

Lombarda kredītu procentu likmes Lombard rates

Termiņnoguldījumu procentu likmes Interest rates on time deposits

Līdz 10. dienai Up to the 10th day

11.–20. dienā 11th–20th day

Ilgāk par 20 dienām Over 20 days

7 dienu 7-day deposits

14 dienu 14-day deposits

17.03.2000. 3.5 5.5 6.5 7.5 1.5 1.75

19.11.2001. x x x x 3.0 3.25

17.05.2002. x x x x 2.5 2.75

16.09.2002. 3.0 5.0 6.0 7.0 2.0 2.25

11.03.2004. 3.5 x x x x x

Latvijas Bankas refinansēšanas likme Bank of Latvia refinancing rate

12.11.2004. 4.0 x x x x x

23.b

LATVIJAS BANKAS ORGANIZĒTAJĀS REPO UN ĪSTERMIŅA VALŪTAS MIJMAIŅAS DARĪJUMU IZSOLĒS NOTEIKTĀS PROCENTU LIKMES INTEREST RATES IN BANK OF LATVIA TENDERS OF REPURCHASE AGREEMENTS AND SHORT-TERM CURRENCY SWAP CONTRACTS (% gadā) (% per annum)

2004


Repo darījumu vidējā svērtā procentu likme Weighted average repo rate

3.3 3.1 3.4 3.6 3.6 3.6 3.6 3.6 3.6 3.7 3.7 4.1

Īstermiņa valūtas mijmaiņas izsoļu vidējā svērtā procentu likme Weighted average interest rate on short-term currency swaps

3.2 3.3 3.5 3.7 3.8 3.8 3.7 3.5 3.6 3.8 3.7 4.0

2005

I II III

4.2 4.1 4.2

– – –

23.c

118

GALVENIE ĀRVALSTU VALŪTAS PIRKŠANAS UN PĀRDOŠANAS DARĪJUMI (VEIDU UN DALĪBNIEKU DALĪJUMĀ)1 PRINCIPAL FOREIGN EXCHANGE TRANSACTIONS IN THE BANKING SECTOR (BY TYPE AND COUNTERPARTY)1 (milj. latu) (in millions of lats)

2004


Darījumu veidi Type of transaction

Valūtas tagadnes darījumi Spot exchange contracts 57 389.0 61 702.2 59 839.5 50 666.9 36 170.5 45 151.7 51 104.4 54 652.3 51 095.4 49 523.6 57 463.5 64 633.7

Biržā netirgotie valūtas nākotnes darījumi Forward exchange contracts

508.1 549.9 395.3 732.3 358.9 358.0 389.1 535.8 393.0 196.9 457.9 395.3

Valūtas mijmaiņas darījumi Currency swap arrangements 20 795.9 26 062.0 28 775.9 17 930.7 15 735.8 17 619.7 22 685.0 23 709.6 26 469.1 29 776.7 35 194.7 36 387.0

Darījumu dalībnieki Counterparties

Rezidentu MFI Resident MFIs 4 979.3 5 733.9 4 982.1 3 040.2 4 180.3 4 944.7 5 501.2 5 010.9 4 115.2 4 756.2 4 938.5 7 029.7

Rezidentu ne-MFI (izņemot mājsaimniecības) Resident non-MFIs (except households)

856.2 1 069.7 846.0 834.7 838.5 758.7 699.5 727.6 763.6 826.1 913.8 2 097.3

Nerezidentu MFI Non-resident MFIs 38 532.2 42 751.4 44 769.1 40 498.6 29 593.8 36 900.0 42 534.6 45 503.6 45 847.5 47 004.3 51 600.4 56 024.3

Nerezidentu ne-MFI (izņemot mājsaimniecības) Non-resident non-MFIs (except households)

34 325.3 38 759.0 38 413.5 24 956.5 17 652.6 20 526.0 25 443.2 27 655.6 27 231.1 26 910.5 35 663.4 36 264.7

Mājsaimniecības Households 333.5 434.5 344.5 620.4 495.1 397.2 408.6 536.1 468.2 609.8 566.5 592.9

1 Darījumu apjomi pārrēķināti latos, izmantojot Latvijas Bankas noteikto attiecīgās ārvalstu valūtas attiecīgā mēneša pēdējās dienas kursu. 1 Amounts are translated in lats by applying Bank of Latvia exchange rates as set on the last day of the month.

2005

I II III

34 433.4 36 057.1 51 598.0

291.1 116.8 282.0

23 611.8 25 097.3 46 372.9

5 734.1 4 613.2 8 437.7

830.5 2 428.9 3 786.3

31 451.5 34 774.5 54 579.7

20 320.3 19 454.7 31 449.2

472.9 583.1 612.6

24.

ĀRVALSTU VALŪTU PIRKŠANA UN PĀRDOŠANA1 FOREIGN EXCHANGE TRANSACTIONS1 (milj. latu) (in millions of lats)

2004


USD

Apjoms / Amount 36 377.7 38 625.4 41 091.7 33 253.3 25 968.9 31 221.3 36 310.4 37 760.5 35 168.6 37 914.2 44 690.7 50 052.3

%2 46.5 44.0 46.3 48.1 49.2 49.4 49.3 48.0 45.1 47.5 47.9 49.4

EUR

Apjoms / Amount 16 114.3 20 806.3 19 197.4 14 281.2 11 624.0 14 692.0 16 173.7 16 538.3 18 957.0 18 228.9 19 219.0 20 533.7

%2 20.6 23.7 21.7 20.7 22.0 23.3 21.9 21.0 24.3 22.9 20.6 20.2

RUB

Apjoms / Amount 17 125.8 16 442.7 15 543.5 13 239.7 10 956.9 10 256.6 10 231.6 13 924.2 12 088.5 14 543.6 20 171.9 24 836.6

%2 21.9 18.7 17.5 19.2 20.8 16.2 13.9 17.7 15.5 18.2 21.6 24.5

Pārējās valūtas Other currencies

Apjoms / Amount 8 553.6 11 892.0 12 888.7 8 331.1 4 231.0 6 987.5 11 006.8 10 410.6 11 744.4 9 097.2 9 294.7 5 978.6

%2 11.0 13.6 14.5 12.0 8.0 11.1 14.9 13.3 15.1 11.4 9.9 5.9

Kopā Total 78 171.4 87 766.4 88 721.3 69 105.2 52 780.8 63 157.3 73 722.6 78 633.7 77 958.5 79 784.0 93 376.4 101 401.3

1 Darījumu apjomi pārrēķināti latos, izmantojot ārvalstu valūtas pirkšanas un pārdošanas kursa vidējo svērto rādītāju. 1 Amounts are translated in lats by applying the weighted average rate calculated from the respective buying and selling rates. 2 Attiecīgajā ārvalstu valūtā veikto darījumu īpatsvars ārvalstu valūtas darījumu kopapjomā. 2 As percent of the total.

2005

I II III

25 291.5 29 587.7 45 990.6

43.7 47.8 47.4

14 818.6 16 055.8 23 915.3

25.6 26.0 24.7

9 402.1 10 085.6 17 610.7

16.2 16.3 18.2

8 396.8 6 126.7 9 394.8

14.5 9.9 9.7

57 909.0 61 855.8 96 911.4

25.

119

VIDĒJIE SVĒRTIE ĀRVALSTU VALŪTU (IZŅEMOT BEZSKAIDRĀS NAUDAS NORĒĶINUS) MAIŅAS KURSI WEIGHTED AVERAGE EXCHANGE RATES (EXCLUDING NON-CASH ITEMS) (Ls pret ārvalstu valūtu) (LVL vs foreign currency)

2004


EUR

Pērk / Buy 0.669 0.668 0.658 0.649 0.654 0.654 0.657 0.656 0.659 0.667 0.679 0.688

Pārdod / Sell 0.673 0.676 0.662 0.652 0.658 0.658 0.662 0.660 0.663 0.671 0.683 0.692

USD

Pērk / Buy 0.530 0.528 0.537 0.540 0.544 0.539 0.536 0.539 0.540 0.534 0.522 0.514

Pārdod / Sell 0.532 0.531 0.538 0.542 0.546 0.541 0.538 0.541 0.542 0.536 0.525 0.516

GBP

Pērk / Buy 0.961 0.981 0.976 0.969 0.967 0.981 0.982 0.974 0.962 0.960 0.964 0.982

Pārdod / Sell 0.965 0.986 0.984 0.975 0.976 0.989 0.989 0.981 0.969 0.966 0.974 0.987

100 JPY

Pērk / Buy 0.490 0.484 0.483 0.495 0.475 0.482 0.482 0.479 0.481 0.488 0.494 0.488

Pārdod / Sell 0.495 0.488 0.496 0.506 0.482 0.487 0.489 0.480 0.489 0.491 0.501 0.499

2005

I II III

0.695 0.694 0.694

0.698 0.697 0.698

0.528 0.533 0.526

0.530 0.536 0.533

0.987 1.000 0.996

0.994 1.007 1.003

0.503 0.496 0.499

0.511 0.523 0.500

LATA REĀLĀ EFEKTĪVĀ KURSA INDEKSS INDEX OF THE REAL EFFECTIVE EXCHANGE RATE OF THE LATS

2004


Pret galveno tirdzniecības partnervalstu valūtām Against a basket of foreign currencies

120.6 121.1 123.0 124.5 124.7 125.0 124.6 124.5 124.4 123.3 122.3 120.5

Pret attīstīto valstu valūtām Against currencies of developed countries

129.5 129.9 132.3 134.3 134.9 135.4 135.1 135.1 135.1 134.0 133.1 131.3

Pret triju ES10 valstu (Igaunijas, Lietuvas un Polijas) un Krievijas valūtām Against currencies of three EU10 countries (Estonia, Lithuania and Poland) and Russia

104.5 105.0 106.0 106.7 106.3 106.2 105.6 105.5 105.1 104.2 102.9 101.2

2005

I II III

119.6 119.7 119.9

131.2 131.5 131.9

99.2 98.9 98.8

28.

LATVIJAS BANKAS NOTEIKTIE ĀRVALSTU VALŪTU KURSI (VIDĒJI MĒNESĪ) MONTHLY AVERAGES OF THE EXCHANGE RATES SET BY THE BANK OF LATVIA (Ls pret ārvalstu valūtu) (LVL vs foreign currency)

2004


EUR 0.6763 0.6753 0.6662 0.6569 0.6608 0.6620 0.6661 0.6646 0.6665 0.6745 0.6855 0.6954

USD 0.5370 0.5347 0.5431 0.5465 0.5511 0.5455 0.5427 0.5459 0.5461 0.5411 0.5293 0.5196

GBP 0.9750 0.9968 0.9927 0.9893 0.9833 0.9991 0.9985 0.9938 0.9787 0.9767 0.9816 1.0010

100 JPY 0.5042 0.5024 0.4997 0.5105 0.4926 0.4979 0.4972 0.4942 0.4967 0.4956 0.5032 0.5007

2005

I II III

0.7028 0.7028 0.7028

0.5332 0.5403 0.5313

1.0042 1.0186 1.0139

0.5163 0.5150 0.5063

26.

27.

120

VALSTS IEKŠĒJĀ AIZŅĒMUMA VĒRTSPAPĪRU STRUKTŪRA STRUCTURE OF GOVERNMENT SECURITIES (perioda beigās; milj. latu) (at end of period; in millions of lats)

2004


Apgrozībā esošo valdības vērtspapīru kopapjoms Stock of government securities outstanding

375.4 382.4 382.4 392.8 385.7 402.0 412.0 412.5 413.9 433.0 433.1 425.7

Rezidenti Residents 366.0 378.6 379.0 384.7 375.3 391.7 401.6 402.1 403.5 421.6 421.7 407.9

Latvijas Banka Bank of Latvia 130.6 123.1 124.1 138.6 82.4 104.7 128.6 164.1 168.5 171.4 123.8 99.9

Pārējās MFI Other MFIs 159.3 178.0 176.2 162.8 205.8 200.1 185.9 150.4 145.3 152.0 192.3 214.9

Valsts nefinanšu sabiedrības Public non-financial corporations

0.2 0 0 0 0 0 0 0 0 0 0 0

Privātās nefinanšu sabiedrības Private non-financial corporations

34.6 35.1 35.4 38.1 37.0 41.3 42.6 43.5 45.0 51.9 51.8 50.4

Pārējie Other 41.3 42.4 43.3 45.2 50.1 45.6 44.5 44.1 44.7 46.3 53.8 42.7

Nerezidenti Non-residents 9.4 3.8 3.4 8.1 10.4 10.3 10.4 10.4 10.4 11.4 11.4 17.8

OECD valstu MFI MFIs in the OECD countries

1.7 1.7 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3

Pārējo valstu MFI MFIs in the other countries 0 0 0 0 0 0 0 0 0 7.9 7.9 12.5

Nefinanšu sabiedrības Non-financial corporations 2.1 2.1 2.1 2.1 2.4 2.3 2.4 2.4 2.4 2.2 2.2 4.0

Pārējie Other 5.6 0 0 4.7 6.7 6.7 6.7 6.7 6.7 0 0 0

2005

I II III

430.8 445.0 407.8

413.1 426.0 385.1

98.0 95.6 100.0

221.4 237.4 190.6

0 0 0

50.9 50.6 48.7

42.8 42.4 45.8

17.7 19.0 22.7

1.3 1.3 1.3

11.0 11.6 11.4

5.4 6.1 10.0

0 0 0

29.

121

VALSTS IEKŠĒJĀ AIZŅĒMUMA VĒRTSPAPĪRU EMISIJA ISSUE OF GOVERNMENT SECURITIES

Termiņš (mēneši) Maturity (months)

Izsoļu skaits Number of auctions

Dalībnieku skaits Number of participants

Piedāvājums (tūkst. latu) Supply (in thousands of lats)

Pieprasījums (tūkst. latu) Demand (in thousands of lats)

Emisijas apjoms (tūkst. latu) Issue (in thousands of lats)

Vidējā svērtā diskonta likme (%) Weighted average discount rate (%)

6 2004

II 1 6 4 000 9 950 4 000 3.19

VI 1 2 4 000 4 700 2 200 3.42

VIII 1 3 4 000 5 420 3 420 3.53

X 1 5 4 000 10 500 4 000 3.70

XII 1 4 4 000 5 120 3 120 3.43

2005

I 1 3 4 000 6 200 4 000 3.12

12 2004

IV 1 5 8 000 18 080 4 300 3.73

VI 1 4 8 000 15 400 8 000 3.48

VII 1 6 8 000 12 630 8 000 3.46

VIII 1 3 8 000 13 330 8 000 3.64

X 1 6 8 000 22 500 6 650 3.59

60 2005

II 1 13 16 000 50 104 16 000 3.375¹

III 1 8 16 000 54 920 16 000 3.375¹

120 2004

III 1 11 12 000 28 100 5 500 4.750¹

V 1 8 12 000 18 965 3 925 4.750¹

IX 1 6 12 000 27 273 12 000 4.750¹

1 Fiksētā ienākuma likme. 1 Coupon rate.

30.

VALSTS IEKŠĒJĀ AIZŅĒMUMA VĒRTSPAPĪRU IZSOĻU REZULTĀTI AUCTIONS OF GOVERNMENT SECURITIES

Termiņš (mēneši) Maturity (months)

Izsoles datums Date (dd.mm.yyyy.)

Dalībnieku skaits Number of participants

Pieprasījums (tūkst. latu) Demand (in thousands of lats)

Pirkuma apjoms (tūkst. latu) Purchase (in thousands of lats)

Vidējā svērtā diskonta likme (%) Weighted average discount rate (%)

6 05.01.2005. 3 6 200 4 000 3.12

Kopā / Amount – 6 200 4 000 3.12¹

60 02.02.2005. 13 50 104 16 000 3.502

Kopā / Amount – 105 024 32 000 3.403

Pavisam / Total – 111 224 36 000 –

1 Attiecīgā termiņa parādzīmju 2005. gada 1. ceturkšņa izsoļu vidējo svērto diskonta likmju vidējais lielums. 1 The average of the weighted average discount rates on Treasury bills of the respective maturity at auctions held during the first quarter of 2005. 2 Vidējā svērtā peļņas likme. 2 Weighted average yield. 3 Attiecīgā termiņa obligāciju 2005. gada 1. ceturkšņa izsoļu vidējo svērto peļņas likmju vidējais lielums. 3 The average of the weighted average yields on bonds of the respective maturity at auctions held during the first quarter of 2005.

22.03.2005. 8 54 920 16 000 3.302

31.

122

LATVIJAS BANKAS VEIKTIE DARĪJUMI VALSTS IEKŠĒJĀ AIZŅĒMUMA VĒRTSPAPĪRU OTRREIZĒJĀ TIRGŪ THE BANK OF LATVIA'S TRANSACTIONS IN THE SECONDARY MARKET FOR GOVERNMENT SECURITIES (milj. latu) (in millions of lats)

2004


Nopirktie vērtspapīri Securities purchased

0 20.4 0 0 0 0 0 0 0 16.8 0 0

2005

I II III

0 0 23.6

IEKŠZEMES KOPPRODUKTA DINAMIKA DYNAMICS OF GROSS DOMESTIC PRODUCT

2004 2005

1. cet. Q1

2. cet. Q2

3. cet. Q3

4. cet. Q4

1. cet. Q1

Faktiskajās cenās; milj. latu At current prices; in millions of lats 7 359.4 1 603.5 1 769.7 1 902.4 2 083.8 1 843.3

Salīdzināmajās cenās1; milj. latu

At constant prices1; in millions of lats 6 282.8 1 519.4 1 548.4 1 580.8 1 634.2 1 631.3

Pārmaiņas salīdzinājumā ar iepriekšējā gada atbilstošo periodu (%) Annual growth rate (%)

8.5 8.7 7.7 9.1 8.6 7.4

Kopējā pievienotā vērtība Gross value added 8.5 8.8 7.7 9.1 8.6 7.4

Preču sektors Goods-producing sector 7.9 9.8 7.4 6.3 7.5 3.4

Pakalpojumu sektors Services sector 8.7 8.4 7.8 10.2 9.1 8.8

1 2000. gada vidējās cenas. 1 Average prices in 2000.

2003

6 322.5

5 788.9

7.5

7.2

8.1

6.8

33.

32.

STRĀDĀJOŠO MĒNEŠA VIDĒJĀS BRUTO DARBA SAMAKSAS UN BEZDARBA LĪMEŅA PĀRMAIŅAS CHANGES IN THE AVERAGE MONTHLY GROSS WAGES AND SALARIES AND UNEMPLOYMENT

2004 2005


Vidējā darba samaksa Average wages and salaries

Ls mēnesī LVL per month 190.40 194.32 199.93 206.30 204.01 212.38 217.23 207.44 208.88 213.46 221.83 254.66 219.85 221.98 237.35

Salīdzinājumā ar iepriekšējā gada atbilstošo periodu (%) Year-on-year changes (%)

109.4 112.3 108.3 108.9 108.9 107.5 107.1 109.0 108.3 109.9 112.7 112.7 115.5 114.2 118.7

Reālās darba samaksas indekss (salīdzinājumā ar iepriekšējā gada atbilstošo periodu; %)

Real wage index (year-on-year basis; %)

105.3 107.7 103.4 103.7 102.5 101.3 100.4 101.1 100.6 102.5 105.1 105.1 108.3 106.9 111.8

Reģistrēto bezdarbnieku skaits Number of registered unemployed persons

Mēneša beigās At end of month 92 874 94 862 96 669 95 964 93 366 93 042 92 628 92 880 92 478 91 252 90 637 90 800 92 329 92 862 91 590

Salīdzinājumā ar iepriekšējā gada atbilstošo periodu (%) Year-on-year changes (%)

101.4 101.3 102.7 102.8 101.9 102.7 102.8 103.0 102.9 102.1 100.5 100.3 99.4 97.9 94.7

34.

123

LATVIJAS ĀRĒJĀS TIRDZNIECĪBAS BILANCE LATVIAN FOREIGN TRADE BALANCE (milj. latu; eksports – FOB cenās, imports – CIF cenās) (in millions of lats; exports – in FOB prices, imports – in CIF prices)

20041 2005

1. cet. Q1

2. cet. Q2

3. cet. Q3

4. cet.1 Q41

1. cet. Q1

Eksports / Exports 2 150.0 457.2 525.5 558.5 608.8 628.3

Imports / Imports 3 805.3 792.1 949.8 983.6 1 079.7 996.4

Bilance / Balance –1 655.2 –334.8 –424.4 –425.1 –471.0 –368.1

SVARĪGĀKĀS PRECES LATVIJAS EKSPORTĀ MAIN EXPORT GOODS OF LATVIA (FOB cenās) (in FOB prices)

2003 20041 2005

1. cet. Q1

Milj. latu Millions of lats

% Milj. latu Millions of lats


%

Kopā Total 1 650.6 100.0 2 150.0 100.0 628.3 100.0

Dzīvi dzīvnieki, dzīvnieku izcelsmes produkti Live animals and animal products 28.0 1.7 46.8 2.2 12.4 2.0

Pārtikas rūpniecības ražojumi (ieskaitot alkoholiskos un bezalkoholiskos dzērienus un tabaku) Prepared foodstuffs (incl. alcoholic and non-alcoholic beverages and tobacco products)

94.1 5.7 132.4 6.2 37.2 5.9

Minerālprodukti Mineral products 26.4 1.6 114.1 5.3 66.8 10.6

Ķīmiskās rūpniecības un tās saskarnozaru ražojumi Products of the chemical and allied industries 96.7 5.9 123.5 5.7 36.0 5.7

Koks un koka izstrādājumi Wood and articles of wood 581.8 35.2 655.3 30.5 161.8 25.8

Papīra masa no koksnes, papīrs un kartons Pulp of wood; paper and paperboard 28.5 1.7 44.1 2.0 14.0 2.2

Tekstilmateriāli un tekstilizstrādājumi Textiles and textile articles 208.7 12.6 230.0 10.7 62.7 10.0

Akmens, ģipša, cementa, stikla, keramikas izstrādājumi Articles of stone, plaster, cement, glassware and ceramic products

34.0 2.1 42.9 2.0 12.1 1.9

Parastie metāli un parasto metālu izstrādājumi Base metals and articles of base metals 207.4 12.6 303.3 14.1 94.7 15.1

Mehānismi un mehāniskas ierīces, elektroiekārtas Machinery and mechanical appliances; electrical equipment 116.8 7.1 169.2 7.9 48.7 7.8

Satiksmes līdzekļi Transport vehicles 34.2 2.1 54.4 2.5 15.7 2.5

Dažādi izstrādājumi Miscellaneous manufactured articles 97.3 5.9 114.3 5.3 31.3 5.0

Pārējās preces Other goods 96.7 5.8 119.7 5.6 34.9 5.5

1 Dati precizēti. 1 Data have been revised.

36.

35.

2004

I II III IV V VI VII VIII IX X1 XI1 XII1

Eksports / Exports 137.1 150.7 169.5 176.6 171.7 177.2 188.7 182.0 187.9 203.7 198.1 206.9

Imports / Imports 222.0 250.7 319.4 364.1 297.2 288.6 303.0 310.1 370.6 353.4 353.4 372.9

Bilance / Balance –84.9 –100.1 –149.9 –187.5 –125.4 –111.4 –114.3 –128.1 –182.7 –149.7 –155.3 –166.0


2005

I II III

189.0 201.9 237.4

294.6 312.9 388.9

–105.6 –111.0 –151.5

124

SVARĪGĀKĀS PRECES LATVIJAS IMPORTĀ MAIN IMPORT GOODS OF LATVIA (CIF cenās) (in CIF prices)

2003 20041 2005

1. cet. Q1




%

Kopā Total 2 989.2 100.0 3 805.3 100.0 996.4 100.0

Augu valsts produkti Vegetable products 87.5 2.9 105.8 2.8 30.3 3.0

Pārtikas rūpniecības produkti (ieskaitot alkoholiskos un bezalkoholiskos dzērienus un tabaku) Prepared foodstuffs (incl. alcoholic and non-alcoholic beverages and tobacco products)

180.7 6.0 229.0 6.0 56.2 5.6

Minerālprodukti Mineral products 296.9 9.9 481.6 12.7 158.3 15.9

Ķīmiskās rūpniecības un tās saskarnozaru ražojumi Products of the chemical and allied industries

300.5 10.1 350.1 9.2 94.5 9.5

Plastmasas un to izstrādājumi; kaučuks un tā izstrādājumi Plastics and articles thereof; rubber and articles thereof

153.4 5.1 190.2 5.0 49.4 5.0

Koks un koka izstrādājumi Wood and articles of wood 70.2 2.3 114.8 3.0 40.9 4.1

Papīra masa no koksnes, papīrs un kartons Pulp of wood; paper and paperboard 112.8 3.8 126.3 3.3 33.0 3.3

Tekstilmateriāli un tekstilizstrādājumi Textiles and textile articles 193.9 6.5 216.6 5.7 52.6 5.3

Parastie metāli un parasto metālu izstrādājumi Base metals and articles of base metals 277.3 9.3 388.4 10.2 96.7 9.7

Mehānismi un mehāniskas ierīces, elektroiekārtas Machinery and mechanical appliances; electrical equipment 629.6 21.1 755.7 19.9 182.1 18.3

Satiksmes līdzekļi Transport vehicles 313.6 10.5 413.7 10.9 94.4 9.5

Dažādi izstrādājumi Miscellaneous manufactured articles 96.7 3.2 105.8 2.8 27.1 2.7

Pārējās preces Other goods 276.1 9.3 327.3 8.5 80.9 8.1


37.

125

PARTNERVALSTIS LATVIJAS ĀRĒJĀ TIRDZNIECĪBĀ LATVIAN FOREIGN TRADE PARTNERS (eksports – FOB cenās, imports – CIF cenās) (exports – in FOB prices, imports – in CIF prices)

20041 2005

1. cet. Q1


Īpatsvars (%) % of the total


Īpatsvars (%) % of the total

Eksports Exports

Imports Imports

Bilance Balance

Eksports Exports

Imports Imports

Eksports Exports

Imports Imports

Bilance Balance

Eksports Exports

Imports Imports

Kopā Total 2 150.0 3 805.3 –1 655.2 100.0 100.0 628.3 996.4 –368.1 100.0 100.0

Eiropas Savienība – 15 valstis European Union – 15 countries 1 170.1 1 777.8 –607.7 54.4 46.7 314.6 418.6 –104.0 50.1 42.0

Eiropas Savienība – 25 valstis European Union – 25 countries 1 660.8 2 871.3 –1 210.5 77.2 75.5 491.6 708.9 –217.3 78.2 71.2

t.sk. Vācija incl. Germany 267.5 556.9 –289.4 12.4 14.6 66.9 124.7 –57.8 10.6 12.5

Zviedrija Sweden 222.2 239.7 –17.5 10.3 6.3 55.8 53.7 2.1 8.9 5.4

Lielbritānija United Kingdom 278.5 80.0 198.5 13.0 2.1 73.1 19.6 53.5 11.6 2.0

Somija Finland 54.7 247.1 –192.4 2.5 6.5 15.9 56.2 –40.3 2.5 5.6

Dānija Denmark 123.0 116.0 7.0 5.7 3.0 35.4 28.8 6.6 5.6 2.9

Nīderlande Netherlands 56.9 131.4 –74.5 2.6 3.5 14.2 37.7 –23.5 2.3 3.8

Itālija Italy 38.2 131.0 –92.8 1.8 3.4 11.6 29.4 –17.8 1.8 3.0

Francija France 40.8 91.6 –50.8 1.9 2.4 11.8 21.4 –9.6 1.9 2.2

Lietuva Lithuania 203.5 476.6 –273.1 9.5 12.5 58.6 117.4 –58.8 9.3 11.8

Igaunija Estonia 180.2 272.3 –92.1 8.4 7.2 62.8 72.6 –9.8 10.0 7.3

Polija Poland 79.6 213.7 –134.1 3.7 5.6 42.2 61.5 –19.3 6.7 6.2

NVS CIS 243.7 623.6 –379.9 11.3 16.4 64.7 206.3 –141.6 10.3 20.7

t.sk. Krievija incl. Russia 137.5 332.0 –194.5 6.4 8.7 40.7 111.3 –70.6 6.5 11.2

Pārējās valstis Other countries 245.6 310.3 –64.7 11.5 8.1 72.1 81.1 –9.0 11.5 8.1

t.sk. ASV incl. USA 63.1 50.0 13.1 2.9 1.3 15.0 10.2 4.8 2.4 1.0

Šveice Switzerland 31.8 57.9 –26.1 1.5 1.5 17.4 13.0 4.4 2.8 1.3


38.

126

NORĒĶINIEM IZMANTOJAMO KLIENTU KONTU SKAITS UN TO ATLIKUMI (INSTITŪCIJU DALĪJUMĀ) CUSTOMER ACCOUNTS (INSTITUTIONAL FRAMEWORK) (perioda beigās) (at end of period)

Institūcijas Institutions

Klientu konti Customer accounts

Institūciju skaits Number of institutions

Filiāļu skaits1

Number of branches1 Skaits (tūkst.) Number (in thousands)

Atlikums (milj. latu) Balance (in millions of lats)

Debets Debit

Kredīts Credit

2003

Centrālā banka Central bank 1 6 0.1 – 16.5

Bankas2 Banks2 23 604 2 207.2 121.6 2 480.9

Pasts Post office 1 964 94.9 – 4.0

2004

Centrālā banka Central bank 1 5 0.1 – 83.8

Bankas2 Banks2 23 614 2 402.8 201.2 3 351.0

Pasts Post office 1 964 109.2 – 6.2

1 Visas institūcijas filiāles (norēķinu grupas un punkti); galvenā mītne tiek uzskatīta par filiāli, ja tā pieņem maksājumus. 1 All branches of the institution; the head office of the institution is considered as a branch if it offers payment services. 2 T.sk. ārvalstu banku filiāles. 2 Including branches of foreign banks.

39.

127

LATVIJĀ LIETOTIE MAKSĀŠANAS LĪDZEKĻI (SKAITS) PAYMENT INSTRUMENTS IN LATVIA (VOLUME) (tūkstošos) (in thousands)

2003 2004

Maksāšanas līdzekļi latos Payment instruments in lats

Maksāšanas līdzekļi ārvalstu valūtās Payment instruments in foreign currencies



Kredīta pārvedumi elektroniskā veidā1 Electronic credit transfers1 41 476.0 5 940.2 47 416.2 49 103.9 7 208.0 56 311.9

t.sk. starpbanku kredīta pārvedumi1 incl. interbank credit transfers1 30.2 281.9 312.2 59.9 388.1 448.0

elektroniskie bankas pakalpojumi electronic banking 8 357.3 1 409.6 9 766.9 9 530.8 1 463.1 10 993.9

bankas pakalpojumi globālajā datortīklā internet banking 5 941.3 1 403.9 7 345.2 10 343.7 2 464.5 12 808.2

bankas pakalpojumi, izmantojot tālruni telephone banking 90.6 8.4 99.0 140.3 5.8 146.1

Maksājumi ar banku norēķinu kartēm Payments by bank payment cards 19 326.0 1 026.0 20 352.0 28 326.1 1 200.3 29 526.4

Maksājumi ar mazumtirdzniecības kartēm Payments by retailer cards 3 216.0 50.6 3 266.5 3 902.4 51.1 3 953.5

Čeki Cheques 0.1 49.6 49.6 0 50.3 50.3

Tiešā debeta maksājumi Direct debits 362.6 0 362.6 812.0 2.2 814.2

Skaidrās naudas iemaksas/izmaksas1 Cash deposits/withdrawals1 49 844.0 2 923.6 52 767.6 54 803.3 2 977 57 780.4

t.sk. izmaksas no bankomātiem incl. withdrawals from ATMs 26 035.3 10.3 26 045.6 32 407.3 27.3 32 434.6

Pasta maksājumi Postal payments 21 652.1 51.3 21 703.4 21 235.9 52.9 21 288.8

elektroniskā veidā electronic 14 332.9 51.3 14 384.2 14 461.7 52.9 14 514.6

papīra dokumenta veidā paper-based 7 319.2 – 7 319.2 6 774.2 – 6 774.2

Pasta tiešais debets Postal direct debit 1.9 – 1.9 1.9 – 1.9

Pasta skaidrās naudas iemaksas/izmaksas Postal cash deposits/withdrawals 23 567.0 – 23 567.0 22 735.0 – 22 735.0

1 T.sk. Latvijas Bankas dati. 1 Including data of the Bank of Latvia.

40.

128

LATVIJĀ LIETOTIE MAKSĀŠANAS LĪDZEKĻI (APJOMS) PAYMENT INSTRUMENTS IN LATVIA (VALUE)

(milj. latu) (in millions of lats)

2003 2004





Kredīta pārvedumi elektroniskā veidā1 Electronic credit transfers1 63 615.9 434 705.8 498 321.7 76 542.5 639 652.3 716 194.8

t.sk. starpbanku kredīta pārvedumi1 incl. interbank credit transfers1 22 372.1 255 467.5 277 839.5 29 558.1 413 935.5 443 493.6

elektroniskie bankas pakalpojumi electronic banking 11 542.9 42 645.7 54 188.7 13 251.9 43 637.6 56 889.4

bankas pakalpojumi globālajā datortīklā internet banking 3 083.3 59 445.5 62 528.8 5 444.8 99 545.9 104 990.8

bankas pakalpojumi, izmantojot tālruni telephone banking 49.2 98.0 147.2 36.1 14.0 50.0

Maksājumi ar banku norēķinu kartēm Payments by bank payment cards 190.5 129.0 319.5 296.0 158.4 454.4

Maksājumi ar mazumtirdzniecības kartēm Payments by retailer cards 58.1 4.7 62.8 81.4 5.4 86.8

Čeki Cheques 0 22.4 22.4 0 17.5 17.6

Tiešā debeta maksājumi Direct debits 16.2 0 16.2 33 0.4 33.4

Skaidrās naudas iemaksas/izmaksas1 Cash deposits/withdrawals1 11 918.2 2 974.1 14 892.3 13 658.0 3 500 17 158.1

t.sk. izmaksas no bankomātiem incl. withdrawals from ATMs 1 237.0 8.0 1 245.0 1 590.9 11.7 1 602.6

Pasta maksājumi Postal payments 541.5 1.9 543.3 557.1 2.5 559.6

elektroniskā veidā electronic 180.8 1.9 182.7 187.2 2.5 189.7

papīra dokumenta veidā paper-based 360.6 – 360.6 369.9 – 369.9

Pasta tiešais debets Postal direct debit 0 – 0 0 – 0

Pasta skaidrās naudas iemaksas/izmaksas Postal cash deposits/withdrawals 517.6 – 517.6 547.5 – 547.5

1 T.sk. Latvijas Bankas dati. 1 Including data of the Bank of Latvia.

41.

129


2 Banku un SIA"Banku servisa centrs" bankomātu tīkli. 2 ATM networks of banks and company Banku servisa centrs. 3 2003. gadā – banku un SIA "Banku servisa centrs" dati; sākot ar 2004. gadu – banku, SIA "Banku servisa centrs" un SIA "Neste Latvija" dati. 3 2003 data of banks and company Banku servisa centrs; since 2004 – data of banks, company Banku servisa centrs, and company Neste Latvija.

BANKU NORĒĶINU KARŠU UN MAZUMTIRDZNIECĪBAS KARŠU, BANKOMĀTU UN NORĒĶINU KARŠU PIEŅEMŠANAS VIETU UN TĪKLU SKAITS NUMBER OF BANK PAYMENT CARDS AND RETAILER CARDS, ATMs AND POSs, ATM AND POS NETWORKS (perioda beigās; veselos skaitļos) (at end of period; in whole figures)

42.

2003 2004

Banku norēķinu kartes Bank payment cards 1 176 158 1 313 880

Kredītkartes Credit cards 7 950 12 844

Debetkartes ar pārsnieguma iespējām Debit cards with overdraft facility 556 918 632 615

Debetkartes Debit cards 561 052 626 802

Kartes skaidrās naudas izņemšanai Cards for cash withdrawals 50 238 41 619

Mazumtirdzniecības kartes Retailer cards 67 1721 103 433

Bankomāti ATMs 868 875

Bankomātu tīkli2 ATM networks2 5 5

Norēķinu karšu pieņemšanas vietas POSs 10 268 11 893

Elektroniskās3 Electronic (EFTPOS)3 9 329 11 798

Reljefa spiedņi Imprinters 939 95

Norēķinu karšu pieņemšanas vietu tīkli3 POS networks3 3 4

130

PAPILDINFORMÂCIJA

Vispârçjâs piezîmes

Izdevumâ "Monetârais Apskats. Monetary Review" izmantota Latvijas Republikas Centrâlâs statistikas pârvaldes, Finanðuministrijas, Finanðu un kapitâla tirgus komisijas, Rîgas Fondu birþas un Latvijas Bankas informâcija.

Grafiskajos attçlos (3., 7., 12., 14., 15., 17., 19. un 20. att.) ar punktiem atzîmçts râdîtâja faktiskais lielums, ar lînijâm – ðorâdîtâju aproksimçjoðâ lîkne. Grafiskos attçlus sagatavojot, izmantota Reuters (1. un 2. att.), Centrâlâs statistikas pârvaldes(3.–5. att.), Finanðu ministrijas (6. att.) un Latvijas Bankas (7.–39. att.) informâcija.

Tabulas sagatavojot, izmantota Latvijas Bankas (1., 3.–32. un 39.–42. tabula), Rîgas Fondu birþas (1. tabula), Finanðuministrijas (2.ab tabula) un Centrâlâs statistikas pârvaldes (2.ab un 33.–38. tabula) informâcija.

Daþos gadîjumos skaitïu noapaïoðanas rezultâtâ komponentu summa atðíiras no kopsummas.

FOB cena ir preces cena, kuru veido preces vçrtîba, ieskaitot transporta un apdroðinâðanas izmaksas lîdz eksportçtâjvalstsrobeþai.

CIF cena ir preces cena, kuru veido preces vçrtîba, ieskaitot transporta un apdroðinâðanas izmaksas lîdz importçtâjvalstsrobeþai.

Tabulâs apzîmçjums "–" nozîmç, ka attiecîgajâ periodâ nav darîjumu, un apzîmçjums "x" – dati nav pieejami, râdîtâjus naviespçjams aprçíinât vai respondentu skaits ir nepietiekams datu publiskoðanai.

Nauda un banku darbîba

Monetâro râdîtâju aprçíinâ tiek iekïauti Latvijas Bankas bilances dati un pârçjo MFI bilanèu pârskatu informâcija, kas tieksagatavota saskaòâ ar Latvijas Bankas noteikto metodoloìiju (sk. Latvijas Bankas interneta lapâ ar Latvijas Bankas padomes12.07.2001. lçmumu Nr. 88/7 apstiprinâtos "Monetâro finanðu iestâþu mçneða bilances pârskata un pielikumu sagatavoðanasnoteikumus"), kas pamatojas uz ECB Regulu "Par monetâro finanðu institûciju konsolidçto bilanci" (ECB/2001/13).

Lai saskaòotu terminu lietojumu ar ECB "Mçneða Biïetenu", sâkot ar Latvijas Bankas izdevuma "Monetârais Apskats.Monetary Review" 2004. gada 3. numuru, izmantoti ðâdi termini.

MFI – finanðu sabiedrîbas, kas veido naudas emisijas sektoru. Latvijâ MFI ir Latvijas Banka, kredîtiestâdes u.c. MFI saskaòâar Latvijas Bankas sagatavoto "Latvijas Republikas monetâro finanðu iestâþu sarakstu". ES MFI ietver ECB, eiro zonasvalstu centrâlâs bankas, kredîtiestâdes un citas MFI (naudas tirgus fondus) saskaòâ ar ECB publicçto MFI sarakstu.

Ne-MFI – vienîbas, kuras nav MFI.

Finanðu iestâdes – citi finanðu starpnieki, izòemot apdroðinâðanas sabiedrîbas un pensiju fondus (CFS), finanðu palîgsa-biedrîbas, apdroðinâðanas sabiedrîbas un pensiju fondi.

CFS – finanðu sabiedrîbas, kuras iesaistîtas galvenokârt finanðu starpniecîbâ, uzòemoties tâdas saistîbas, kas nav valûta,noguldîjumi un noguldîjumu aizstâjçji no klientiem, kas nav MFI, vai apdroðinâðanas tehniskâs rezerves. CFS ir kreditçðanâiesaistîtâs sabiedrîbas (piemçram, finanðu lîzinga sabiedrîbas, faktûrkreditçðanas sabiedrîbas, eksporta vai importa finan-sçðanas sabiedrîbas), ieguldîjumu fondi, ieguldîjumu brokeru sabiedrîbas, finanðu instrumentsabiedrîbas (financial vehiclecorporations), finanðu pârvaldîtâjsabiedrîbas, riska kapitâla sabiedrîbas (venture capital corporations). CFS datos tiek iekïautiarî finanðu palîgsabiedrîbu dati.

Finanðu palîgsabiedrîbas – finanðu sabiedrîbas, kuras iesaistîtas galvenokârt finanðu palîgdarbîbâs, t.i., darbîbâs, kuras cieðisaistîtas ar finanðu starpniecîbu, bet nav finanðu starpniecîba, piemçram, ieguldîjumu brokeri, kas neveic finanðu starpnie-cîbas pakalpojumus savâ vârdâ, sabiedrîbas, kas nodroðina finanðu tirgu infrastruktûru, finanðu institûciju un finanðu tirgucentrâlâs uzraudzîbas iestâdes, ja tâs ir atseviðías institucionâlas vienîbas. Latvijâ par finanðu palîgsabiedrîbu uzskatâmaarî Finanðu un kapitâla tirgus komisija un Rîgas Fondu birþa. Finanðu palîgsabiedrîbu dati tiek iekïauti CFS datos.

Nefinanðu sabiedrîbas – saimnieciskâs vienîbas, kuras veic preèu raþoðanu vai sniedz nefinansiâlus pakalpojumus nolûkâgût peïòu vai citus augïus.

Mâjsaimniecîbas – fiziskâs personas vai fizisko personu grupas, kuru pamatdarbîba ir patçriòð un kuras raþo preces unpakalpojumus vienîgi paðu patçriòam, kâ arî privâtpersonas apkalpojoðâs bezpeïòas institûcijas. Latvijâ mâjsaimniecîbusektorâ iekïaujami arî individuâlâ darba veicçji, ja viòi nav reìistrçjuði savu darbîbu Latvijas Republikas Uzòçmumu reìistrakomercreìistrâ.

Neakciju vçrtspapîru turçjumi – finanðu aktîvi, kuri ir uzrâdîtâja instrumenti, parasti ir apgrozâmi, tos tirgo otrreizçjos

tirgos vai par tiem tirgû var saòemt atlîdzîbu un kuri negarantç to turçtâjam nekâdas îpaðuma tiesîbas uz institucionâlovienîbu, kas ðos finanðu aktîvus emitçjusi.

Saskaòâ ar ECB metodoloìiju tiek publicçta ðâda informâcija:

1) Latvijas Bankas aktîvi un pasîvi (6. tabula), paplaðinot uzrâdâmo finanðu instrumentu loku;

2) MFI (izòemot Latvijas Banku) kopsavilkuma bilance, t.i., Latvijas MFI, izòemot Latvijas Banku, saskaòoto bilanèusumma (7. tabula);

3) MFI konsolidçtâ bilance, kas iegûta, aprçíinot Latvijas MFI kopsavilkuma bilances pozîciju saldo (8. tabula). Sakarâ arto, ka uzskaites paòçmieni mazliet atðíiras, MFI savstarpçjo posteòu summa ne vienmçr ir vienâda ar nulli, tâpçc atlikumstiek ietverts MFI savstarpçjo saistîbu pârsniegumâ;

4) monetârie râdîtâji un to sastâvdaïas (4. tabula) atspoguïo Latvijas monetâros râdîtâjus un atbilstoðos bilances posteòus.Tie iegûti no MFI konsolidçtâs bilances. Sezonâli izlîdzinâtie monetârie râdîtâji atspoguïoti 5. tabulâ. Tiek aprçíinâti unpublicçti ðâdi monetârie râdîtâji.

M1 – ðaurâs naudas râdîtâjs, kas ietver skaidro naudu apgrozîbâ (Latvijas Bankas emitçtâs latu banknotes un monçtas,neieskaitot to atlikumus pârçjo MFI kasçs) un visâs valûtâs MFI uz nakti veiktos noguldîjumus.

M2 – vidçjâs naudas râdîtâjs, kas ietver M1 un visâs valûtâs veiktos noguldîjumus ar brîdinâjuma termiòu par izòemðanulîdz 3 mçneðiem ieskaitot (îstermiòa krâjnoguldîjumi), kâ arî visâs valûtâs veiktos noguldîjumus MFI ar noteikto termiòulîdz 2 gadiem ieskaitot (îstermiòa noguldîjumi).

M3 – plaðâs naudas râdîtâjs, kas ietver M2, repo darîjumus un MFI emitçtos parâda vçrtspapîrus ar termiòu lîdz 2 gadiemieskaitot.

Saskaòâ ar Latvijas Bankas metodoloìiju joprojâm tiek publicçts Latvijas Bankas naudas pârskats (3. tabula) un Latvijasbanku sistçmas naudas pârskats (10. tabula). Saskaòâ ar ðo metodoloìiju aprçíinâto monetâro râdîtâju skaidrojums ir ðâds.

M0 – naudas bâze, kas ietver Latvijas Bankas emitçtâs latu banknotes un monçtas un rezidentu MFI latos veiktos pieprasîjumanoguldîjumus (noguldîjumus uz nakti) Latvijas Bankâ.

M2X – plaðâ nauda, kas ietver skaidro naudu apgrozîbâ (Latvijas Bankas emitçtâs latu banknotes un monçtas, neieskaitotto atlikumus MFI kasçs), MFI latos veiktos noguldîjumus uz nakti un termiònoguldîjumus (t.sk. noguldîjumus ar brîdinâjumatermiòu par izòemðanu un repo darîjumus), kâ arî ârvalstu valûtâ veiktos noguldîjumus MFI. M2X paðvaldîbu noguldîjumitiek ietverti kâ neto râdîtâjs pieprasîjuma pusç.

Ievçrojot to, ka Latvijas Banka apkopo plaðâku informâciju, papildus tiek publicçta:

1) Latvijas MFI (izòemot Latvijas Banku) kopsavilkuma bilance, kas ir saskaòoto bilanèu summa (9.ab tabula);

2) MFI (izòemot Latvijas Banku) ârzemju aktîvus un ârzemju pasîvus raksturojoðâ informâcija (11.ab tabula), t.sk. arîatseviðíi bilances posteòi valstu grupu dalîjumâ (12. tabula);

3) Latvijas finanðu iestâþu, nefinanðu sabiedrîbu un mâjsaimniecîbu noguldîjumu MFI (izòemot Latvijas Banku)termiòstruktûru un noguldîjumu veidus, t.sk. repo, raksturojoðâ informâcija (13. un 14.abc tabula), kâ arî valdîbas un nere-zidentu noguldîjumus raksturojoðâ informâcija (14.d tabula). Noguldîjumi ar brîdinâjuma termiòu par izòemðanu grupçtiatbilstoði brîdinâjuma termiòam. Ilgtermiòa noguldîjumi ietver noguldîjumus, kuru sâkotnçjais termiòð ir ilgâks par 1 gadu.MFI (izòemot Latvijas Banku) veikto noguldîjumu valûtu dalîjums atspoguïots 20.ab tabulâ;

4) MFI (izòemot Latvijas Banku) Latvijas finanðu iestâdçm, nefinanðu sabiedrîbâm un mâjsaimniecîbâm izsniegto kredîtutermiòstruktûru un kredîtu veidus raksturojoðâ informâcija (15., 16.ab, 17. un 18. tabula), kâ arî valdîbas un nerezidentukredîtus raksturojoðâ informâcija (16.c tabula). MFI (izòemot Latvijas Banku) izsniegto kredîtu valûtu dalîjums atspoguïots20.cd tabulâ;

5) MFI (izòemot Latvijas Banku) vçrtspapîru turçjumus raksturojoðâ informâcija (19.ab un 20.ef tabula);

6) MFI (izòemot Latvijas Banku) emitçtos parâda vçrtspapîrus raksturojoðâ informâcija (20.g tabula).

Procentu likmes

Ar 2004. gada janvâri Latvijas Banka ieviesusi jaunu procentu likmju statistikas metodoloìiju (sk. Latvijas Bankas internetalapâ ar Latvijas Bankas padomes 15.05.2003. lçmumu Nr. 102/3 apstiprinâtos "Procentu likmju pârskatu sagatavoðanasnoteikumus"). Izmantojot ðo metodoloìiju, Latvijas Republikâ reìistrçtajâm bankâm, ârvalstu banku filiâlçm un krâjaizdevusabiedrîbâm jâsniedz informâcija par noguldîjumu un kredîtu procentu likmçm, kas tiek piemçrotas darîjumos ar iekð-

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zemes nefinanðu sabiedrîbâm un mâjsaimniecîbâm. Iepriekð lietotâ procentu likmju statistikas metodoloìija bija spçkâkopð 1997. gada maija. Ievieðot jauno metodoloìiju, panâkta procentu likmju statistikas saskaòoðana ar ECB prasîbu nor-mâm, kas izklâstîtas Regulâ ECB/2001/18 "Par to procentu likmju statistiku, kuras monetârâs finanðu institûcijas piemçromâjsaimniecîbu un nefinanðu korporâciju noguldîjumiem un kredîtiem". Procentu likmju statistika sniedz ievçrojami plaðâkuinformâciju par makroekonomisko attîstîbu un strukturâlajâm pârmaiòâm, tomçr statistisko informâciju nevar tieði salîdzinâtar iepriekð publicçto, jo bûtiski mainîjusies statistikas sagatavoðanas metodoloìija.

Tiek apkopota Latvijas Republikâ reìistrçto banku, ârvalstu banku filiâïu un krâjaizdevu sabiedrîbu sniegtâ informâcijapar noguldîjumu un kredîtu procentu likmçm, kas tiek piemçrotas darîjumos ar nefinanðu sabiedrîbâm un mâjsaimniecî-bâm (21. tabula). Procentu likmju statistika tiek apkopota par jaunajiem darîjumiem un darîjumu atlikumiem. Visas procentulikmju statistikâ ietvertâs likmes ir vidçjâs svçrtâs procentu likmes. Procentu likmju statistikas sagatavoðanâ kredîtiestâdesizmanto nolîgto gada likmi (annualised agreed rate, AAR) vai ðauri definçto efektîvo likmi (narrowly defined effective rate,NDER) un efektîvo gada izmaksu procentu likmi (annual percentage rate of charge, APRC). AAR vai NDER likmes aprçíinskredîtiestâdçm jâizvçlas, pamatojoties uz lîguma nosacîjumiem. NDER var aprçíinât jebkuram noguldîjumam vai aizdevu-mam. Kredîtiem privâtpersonâm mâjokïa iegâdei un patçriòa kredîtiem papildus AAR vai NDER uzrâdîta arî APRC.

Noguldîjumu uz nakti un noguldîjumu ar brîdinâjuma termiòu par izòemðanu jauno darîjumu un atlikumu procentu likmessakrît.

No jauna izsniegto kredîtu procentu likmes tiek atspoguïotas saskaòâ ar lîgumâ noteikto procentu likmes darbîbas sâkotnçjoperiodu. Savukârt norçíinu konta debeta atlikuma (overdraft) procentu likmes tiek uzrâdîtas ðâ kredîta atlikumam.

Atspoguïojot mâjsaimniecîbâm izsniegto patçriòa un pârçjo kredîtu ar termiòu lîdz 1 gadam un nefinanðu sabiedrîbâmizsniegto kredîtu ar termiòu lîdz 1 gadam procentu likmes, tiek ietvertas norçíinu konta debeta atlikuma procentu likmes.

Kredîtu procentu likmes starpbanku tirgû (23.a tabula) tiek atspoguïotas kâ vidçjâs svçrtâs jauno darîjumu procentu likmes,apkopojot banku iesniegto informâciju, kas sagatavota atbilstoði Latvijas Bankas metodoloìijai (sk. Latvijas Bankas inter-neta lapâ ar Latvijas Bankas padomes 17.07.2003. lçmumu Nr. 104/3 apstiprinâtos ""Naudas tirgus darîjumu pârskata"sagatavoðanas noteikumus").

Valûtu darîjumi un valûtu kursi

Ârvalstu valûtu pirkðanas un pârdoðanas darîjumus raksturojoðâ informâcija (24. un 25. tabula) tiek apkopota, izmantojotLatvijas Bankas metodoloìiju (sk. Latvijas Bankas interneta lapâ ar Latvijas Bankas padomes 15.01.1998. lçmumu Nr. 44/6apstiprinâtos "Ârvalstu valûtu skaidrâs naudas pirkðanas un pârdoðanas noteikumus" un ar Latvijas Bankas valdes24.04.1997. lçmumu Nr. 259/8 apstiprinâto "Ârvalstu valûtas pirkðanas un pârdoðanas pârskatu"). Atspoguïota MFI (izòemotLatvijas Banku) un valûtas maiòas iestâþu sniegtâ informâcija.

Latvijas Bankas noteiktie valûtu kursi (26. tabula) atspoguïoti kâ aritmçtiski vidçjie mçneða râdîtâji. Vidçjie svçrtie ârvalstuvalûtu kursi (izòemot bezskaidrâs naudas norçíinus; 27. tabula) apkopoti, izmantojot MFI (izòemot Latvijas Banku) unvalûtas maiòas iestâþu sniegto informâciju.

Lata reâlâ efektîvâ kursa indeksa (28. tabula) aprçíinâ izmantoti mçneða vidçjie valûtu kursi, kas noteikti kâ nacionâlâsvalûtas vienîbas vçrtîba, izteikta attiecîgajâ ârvalstu valûtâ. Lata reâlâ efektîvâ kursa indeksa bâze ir 1995. gada decembris(1995 = 100). Aprçíinâ iekïautas 13 galvenâs tirdzniecîbas partnervalstis, t.sk. 9 attîstîtâs valstis (ASV, Dânija, Francija,Itâlija, Lielbritânija, Nîderlande, Somija, Vâcija un Zviedrija) un 3 ES10 valstis (Igaunija, Lietuva un Polija) un Krievija.

Kredîtiestâþu maksâjumu statistika

Kredîtiestâþu maksâjumu statistika (39.–42. tabula) tiek apkopota saskaòâ ar Latvijas Bankas padomes 13.05.1999. lçmumuNr. 57/2 apstiprinâtajiem "Kredîtiestâþu maksâjumu statistikas sagatavoðanas noteikumiem" un Latvijas Bankas Maksâjumusistçmu pârvaldes 04.07.2000. papildu skaidrojumiem kredîtiestâþu maksâjumu statistikas pârskata sagatavoðanai.

39.–42. tabulâ sniegtajâ informâcijâ termins "klients" ietver fiziskâs un juridiskâs personas, kuras nav kredîtiestâdes unkurâm kredîtiestâdes sniedz maksâjumu pakalpojumus.

ADDITIONAL INFORMATION

General Notes

The Bank of Latvia's publication Monetârais Apskats. Monetary Review is based on data provided by the Central StatisticalBureau of Latvia, the Ministry of Finance, the Financial and Capital Market Commission, the Riga Stock Exchange and theBank of Latvia.

For Charts 3, 7, 12, 14, 15, 17, 19 and 20, the dots indicate the actual data, and the lines reflect the smoothing approximationof the data. Data sources for charts are Reuters (Charts 1 and 2), the Central Statistical Bureau of Latvia (Charts 3–5), theMinistry of Finance (Chart 6) and the Bank of Latvia (Charts 7–39).

Data sources for tables are the Bank of Latvia (Tables 1, 3–32 and 39–42), the Riga Stock Exchange (Table 1), the Ministryof Finance (Table 2ab) and the Central Statistical Bureau of Latvia (Tables 2ab and 33–38).

Details may not add because of rounding-off.

FOB value is the price of a commodity on the border of the exporting country, including the transportation and insurancecosts only up to the border.

CIF value is the price of a commodity on the border of the importing country, including the transportation and insurancecosts only up to the border.

"–" – no transactions in the period; "x" – no data available, no computation of indicators possible or insufficient number ofrespondents to publish information.

Money and banking sector

Calculation of monetary aggregates includes the Bank of Latvia's balance sheet data and information from the financialposition reports of other MFIs, prepared using the Bank of Latvia's methodology (see the Bank of Latvia Website for the"Regulation for Compiling Monthly Financial Position Report of Monetary Financial Institutions and Its Appendices"approved by the Bank of Latvia Council's Resolution No. 88/7 of July 12, 2001), based on the ECB Regulation concerningthe consolidated balance sheet of the monetary financial institutions sector (ECB/2001/13).

For the purpose of harmonising the terminology with the ECB "Monthly Bulletin", starting with 2004 Q3 publication of theBank of Latvia's Monetârais Apskats. Monetary Review, the following terms have been used:

MFIs – financial institutions forming the money-issuing sector. In Latvia, MFIs include the Bank of Latvia, credit institutionsand other MFIs in compliance with the List of Monetary Financial Institutions of the Republic of Latvia compiled by theBank of Latvia. In the EU, MFIs include the ECB, the national central banks of the euro area, credit institutions and othermonetary financial institutions (money market funds) in compliance with the original List of Monetary Financial Institutionspublished by the ECB.

Non-MFIs – entities other than MFIs.

Financial institutions – other financial intermediaries, excluding insurance corporations and pension funds, (hereinafter,OFIs), financial auxiliaries, insurance corporations and pension funds.

OFIs – financial corporations that are primarily engaged in financial intermediation by incurring liabilities in forms otherthan currency, deposits and close substitutes for deposits from their customers other than MFIs, or insurance technicalreserves. OFIs are corporations engaged in lending (e.g. financial leasing companies, factoring companies, export/importfinancing companies), investment funds, investment brokerage companies, financial vehicle corporations, financial holdingcorporations, venture capital corporations. OFIs data include also financial auxiliaries data.

Financial auxiliaries – financial corporations that are primarily engaged in auxiliary financial activities, i.e. activities thatare closely related to financial intermediation but are not financial intermediation themselves, e.g. investment brokers whodo not engage in financial intermediation services on their own behalf, corporations that provide infrastructure for financialmarkets, central supervisory institutions of financial institutions and the financial market provided that they are separateinstitutional units. The Financial and Capital Market Commission and the RSE shall be regarded as financial auxiliaries.Financial auxiliaries data are included in OFIs data.

Non-financial corporations – economic entities producing goods or providing non-financial services with the aim of gainingprofit or other yield.

Households – natural persons or groups of natural persons whose principal activity is consumption and who produce goodsand services exclusively for their own consumption, as well as non-profit institutions serving households. The following are

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also regarded as households in the Republic of Latvia: persons engaged in individual entrepreneurship provided that theyhave not registered their activity with the Commercial Register of the Enterprise Register of the Republic of Latvia.

Holdings of securities other than shares – financial assets, which are instruments of the holder, usually negotiable andtraded or compensated on secondary markets and which do not grant the holder any ownership rights over the issuinginstitutional unit.

The following information is published in accordance with the ECB methodology:

1) The Bank of Latvia's assets and liabilities (Table 6), expanding the range of reported financial instruments;

2) Aggregated balance sheet of MFIs (excluding the Bank of Latvia), i.e. the sum of the harmonised balance sheets ofLatvia's MFIs, excluding the Bank of Latvia (Table 7);

3) Consolidated balance sheet of MFIs, obtained by netting out inter-MFI positions on the aggregated MFI balance sheet(Table 8). Due to slight differences in accounting techniques, the sum of inter-MFI positions does not always equal zero;therefore, the balance is included in the item "Excess of inter-MFI liabilities";

4) Monetary aggregates and counterparts (Table 4) comprise Latvia's monetary aggregates and their balance sheet counterpartsderived from the consolidated balance sheet of MFIs. See Table 5 for seasonally adjusted monetary aggregates. The followingmonetary aggregates are calculated and published:

M1: narrow monetary aggregate, comprising currency in circulation (the lats banknotes and coins issued by the Bank ofLatvia excluding vault cash of MFIs) plus overnight deposits in all currencies held with MFIs.

M2: intermediate monetary aggregate comprising M1 and deposits redeemable at a period of notice of up to and including3 months (i.e. short-term savings deposits) made in all currencies and deposits with an agreed maturity of up to and including2 years (i.e. short-term time deposits) in all currencies held with MFIs.

M3: broad monetary aggregate comprising M2 and repurchase agreements, and debt securities with a maturity of up to andincluding 2 years issued by MFIs.

In compliance with the Bank of Latvia's methodology, the monetary base (Table 3) and monetary survey (Table 10) ispublished. According to this methodology, the calculated monetary aggregates comprise the following:

M0 – monetary base, comprising the lats banknotes and coins issued by the Bank of Latvia and resident MFI overnightdeposits in lats with the Bank of Latvia.

M2X – broad money, comprising currency in circulation (the lats banknotes and coins issued by the Bank of Latvia lessvault cash of MFIs), MFI overnight deposits and time deposits in lats (including deposits redeemable at notice and repos),as well as foreign currency deposits with MFIs. M2X incorporate deposits made by local governments as a net item on thedemand side.

In view of the fact that the Bank of Latvia collects more comprehensive information, the following is also published:

1) Aggregated balance sheet of Latvia's MFIs (excluding the Bank of Latvia) which is the sum of the harmonised balancesheets (Tables 9ab);

2) Information characterising foreign assets and foreign liabilities of MFIs (excluding the Bank of Latvia; Tables 11ab),including a breakdown of selected balance sheet items by country (Table 12);

3) Information characterising the maturity profile and types of deposits (including repos) of Latvia's financial institutions,non-financial corporations and households with MFIs (excluding the Bank of Latvia; Tables 13 and 14abc) as well as Govern-ment and non-resident deposits (Table 14d). Deposits redeemable at notice have been grouped by period of notice. Long-term deposits include deposits with the original maturity of over 1 year. The breakdown of MFI (excluding the Bank ofLatvia) deposits by currency is provided in Tables 20ab;

4) Information characterising the maturity profile and types of MFI (excluding the Bank of Latvia) loans to Latvia's financialinstitutions, non-financial corporations and households (Tables 15, 16ab, 17 and 18) as well as Government and non-residentloans (Table 16c). The breakdown of MFI (excluding the Bank of Latvia) loans by currency is provided in Tables 20cd;

5) Information characterising MFI (excluding the Bank of Latvia) securities holdings other than shares (Tables 19ab and20ef);

6) Information characterising debt securities issued by MFIs (excluding the Bank of Latvia; Table 20g).

Interest Rates

In January 2004, the Bank of Latvia introduced new methodology for interest rate statistics (see the Bank of Latvia Websitefor the "Regulation for Compiling Interest Rate Reports" approved by the Bank of Latvia Council's Resolution No. 102/3 ofMay 15, 2003). Using this methodology, banks, branches of foreign banks and credit unions registered in the Republic ofLatvia have to provide information on interest rates on deposits and loans applied in transactions with resident non-financialcorporations and households. The previously applied interest rate statistics methodology was effective since May 1997.Introduction of the new methodology enabled harmonisation of the interest rate statistics with the ECB requirements laiddown in Regulation ECB/2001/18 concerning statistics on interest rates applied by monetary financial institutions to depositsand loans vis-a-vis households and non-financial corporations. The interest rate statistics provide considerably widerinformation on macroeconomic development and structural changes; nevertheless, the statistical information does notdirectly compare with the one published previously, as the methodology for preparing it has changed considerably.

Information on interest rates on deposits and loans applied in transactions with non-financial corporations and householdsprovided by banks, branches of foreign banks and credit unions registered in the Republic of Latvia is collected (Table 21).Interest rate statistics is collected on new business and outstanding amounts. All rates included in the interest rate statisticsare weighted average rates. When preparing the interest rate statistics, credit institutions use annualised agreed rates(AAR) or narrowly defined effective rates (NDER) and annual percentage rate of charge (APRC). Credit institutions haveto select the calculation of the AAR or the NDER based on the terms and conditions of the agreement. The NDER can becalculated on any deposit or loan. In addition to the AAR or the NDER, the APRC is reported for loans to households forhouse purchase and consumer credits.

The interest rates on new business with overnight deposits and deposits redeemable at notice and their outstanding amountscoincide.

Interest rates on new loans are reported on the basis of the initial rate fixation period set in the agreement, whereasoverdraft interest rates are reported on loan balances.

When reporting the interest rates on consumer credit and other credit to households with the maturity of up to 1 year andloans to non-financial corporations with the maturity of up to 1 year, interest rates on overdraft are included.

Interbank market lending interest rates (Table 23a) are reported as weighted average interest rates on new business,aggregating the information submitted by banks, prepared based on the Bank of Latvia's methodology (see the Bank ofLatvia Website for the "Regulation for Compiling the 'Report on Money Market Transactions' " approved by the Bank ofLatvia Council's Resolution No. 104/3 of July 17, 2003).

Foreign exchange and exchange rates

Information characterising the foreign currency selling and buying transactions (Tables 24 and 25) is reported based on theBank of Latvia's methodology (see the Bank of Latvia Website for the "Regulation for Buying and Selling Cash ForeignCurrency" approved by the Bank of Latvia Council's Resolution No. 44/6 of January 15, 1998 and the "Report on Buyingand Selling of Foreign Currency" approved by the Bank of Latvia Board's Resolution No. 259/8 of April 24, 1997. Informationprovided by MFIs (excluding the Bank of Latvia) and currency exchange bureaus is reported.

Exchange rates set by the Bank of Latvia (Table 26) are reported as monthly mathematical averages. Weighted averageexchange rates (excluding non-cash payments; Table 27) are reported based on the information provided by MFIs (excludingthe Bank of Latvia) and currency exchange bureaus.

Index of the real effective exchange rate of the lats (Table 28) is calculated from average monthly exchange rates, which arethe price of the domestic currency unit in the respective foreign currency. The basis for the index of the lats real effectiveexchange rate is December 1995 (1995 = 100). The basket of currencies is comprised of the currencies of 13 countries (9developed countries: Denmark, Finland, France, Germany, Italy, the Netherlands, Sweden, the United Kingdom and theUS; and three EU10 countries (Estonia, Lithuania and Poland) and Russia) that account for the largest share of Latvia'sforeign trade.

Credit Institution Payment Statistics

Credit institution payment statistics (Tables 39–42) is compiled in line with the "Regulation for Compiling Credit InstitutionPayment Statistics" approved by the Bank of Latvia Council's Resolution No.57/2 of May 13, 1999 and aditional notes forcompiling credit institution payment statistics reports issued by the Payment Systems Department of the Bank of Latvia onJuly 4, 2000.

The term "customer" used in Tables 39–42 denotes natural and legal entities who are not credit institutions and to whomcredit institutions provide payment services.

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Latvijas BankaK. Valdemâra ielâ 2A, Rîgâ, LV-1050Tâlrunis: 702 2300 Fakss: 702 2420http://[email protected]ìistrâcijas apliecîba Nr. 1450Iespiests "Premo"

Latvijas Banka (Bank of Latvia)K. Valdemâra ielâ 2A, Riga, LV-1050, LatviaTel.: +371 702 2300 Fax: +371 702 2420http://[email protected] of Registration No. 1450Printed by Premo

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2005 1 RAIS APSKATS - Makroekonomika · 6 MONETÂRAIS APSKATS · MONETARY REVIEW samazinâjâs, un marta beigâs Brent jçlnaftas cena bija sarukusi lîdz 49–51 ASV dolâram par