International Internet Magazine. Baltic States news & analytics
Tuesday, 21.10.2014, 22:56
Latvia's exports in the first seven months of the year 2014 increased by one% when compared with the same period last year, which is the smallest increase in the EU, according to Eurostat. Meanwhile, Lithuania saw a two% reduction in exports, while Estonia registered a 5% reduction, writes LETA.
Keyword tags: Analytics, Baltic Export, EU – Baltic States, Foreign trade
In August 2014, the build-up of the current account balance (CAB) in surplus (LTL 552.9 million, or EUR 160.1 million) was driven by a strong decline in the trade balance deficit, as well as the remaining surplus in the balances of services, secondary income and capital account, reports LETA/ELTA.
Statistics Lithuania informs that, based on non-final data obtained from customs declarations, Intrastat reporting and VAT returns data, exports in August 2014 amounted to LTL 7.1 billion (EUR 2 billion), imports – LTL 7.3 billion (EUR 2.1 billion).
Provisional data of the Central Statistical Bureau show that in August 2014 compared to the previous month exports value of goods at current prices decreased by 4.4%, and imports value of goods – by 6.3%.
According to Statistics Estonia, in August 2014, exports of goods decreased by 3% and imports by 6% at current prices compared to August of the previous year. The decrease in exports and imports was mostly influenced by the trade of mechanical appliances, electrical equipment and agricultural products and food preparations.
After a significant decrease in 2009, the value of European Union trade in goods with Canada recovered in the following years to reach a peak value for exports of EUR 31.6 billion in 2013. Imports also recovered to a peak value of EUR 30.7 billion in 2011, and then fell to EUR 30.3 billion in 2012 and EUR 27.3 billion in 2013., informs LETA/ELTA.
During the first six months of 2014, Latvia's export has remained unchanged, as compared to the same period in 2013, as information provided by Eurostat indicates, cites LETA.