Consumer Spending Observer in the Baltics
Transactions: further to the downside
  • Card spending and cash withdrawal in the Baltics somewhat declined as virus case count surged. However, transactions are still holding up better than during the first wave.
  • Card spending and cash withdrawal in Q4 has increased by 3.7% YoY in Lithuania, while in Latvia and Estonia it remained on average around 6% below last year’s levels.
  • Non-food spending is on a downward trend in the Baltics, with negative YoY growth rates in all the countries in the last couple of weeks. Holiday season usually sees increased spending.
  • This Christmas will reflect the change in habits due to Covid-19 – people will spend less on services, but those, who can afford - more on goods and goodies.

PDF-Document Read the full analysis here

For more information about this report, please contact:

Liva Zorgenfreija, Chief Economist Latvia,

Greta Ilekyte, Economist Lithuania,

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