Macro Focus: Consumer Spending Observer in the Baltics
Swedbank’s card data see Baltic consumers nearing pre-crisis spending levels
  • Since week12 – the start of the emergency situation in all the Baltics – card transactions in the Baltics have fallen by 15%. Card spending has fallen by 8% and cash withdrawal by 22% YoY, with the sharpest fall in Estonia, and a less pronounced drop in Latvia and Lithuania.
  • Overall, in Q2 activity has been down by around a fifth in Estonia, by 13% in Latvia and by 10% in Lithuania.
  • Data until June 8 shows that since the easing of restrictions started, transactions have been recovering – especially rapidly in Lithuania.
  • Card spending fell less and has recovered markedly faster than cash withdrawal, which is still 10-20% down YoY across the Baltics, possibly suggesting preferences switching to paying by card.
PDF-Document Read the full analysis here

For more information about this report, please contact:

Liva Zorgenfreija, Chief Economist Latvia,

Greta Ilekyte, Economist Lithuania,

This email is sent through the web-based distribution system of Swedbank Macro Research. As a subscriber you can change your settings regarding what publications you will receive by clicking “Change your settings”. You can also unsubscribe from this particular newsletter by clicking "Unsubscribe". Information on the Swedbank Principles of processing personal data can be found here.

Subscribe »
This letter is distributed by Swedbank in cooperation with Brightly. The letter is personal.
You need Adobe Acrobat Reader to show PDF documents. (download here)