International Internet Magazine. Baltic States news & analytics
Friday, 19.12.2014, 05:11
Latvia's exports in the first nine months of the year remained unchanged when compared with the same period last year, according to Eurostat. Meanwhile, Lithuania saw a 2% reduction in exports, while Estonia registered a 3% reduction, informs LETA.
Keyword tags: Analytics, Baltic Export, EU – Baltic States, Foreign trade
In October 2014, the build-up of the current account balance (CAB) in surplus (LTL 292.7 million, or EUR 84.8 million) was driven by an increase in the balance of services deficit, as well as the decreasing, but still in surplus, balances of secondary income and capital account, reports LETA/ELTA.
Provisional data of the Central Statistical Bureau (CSB) show that in October 2014 compared to previous month exports value of goods at current prices grew by 15.3%, but imports value of goods – reduced by 0.2%.
Statistics Lithuania informs that, based on non-final data obtained from customs declarations, Intrastat reporting and VAT returns data, exports in October 2014 amounted to LTL 8.2 billion (EUR 2.4 billion), imports – LTL 8.7 billion (EUR 2.5 billion).
According to Statistics Estonia, in October 2014, both the exports and imports of goods increased by 5% at current prices compared to October of the previous year. The increase in exports and imports was mostly influenced by the trade of electrical equipment and mineral products.
Estonia's current account surplus indicates that competitiveness has been maintained, central bank Eesti Pank said in a comment to the fresh third quarter data for 2014, cites LETA.
In the third quarter of 2014, Latvia's current account had a deficit of EUR 250 million. The slight increase in the deficit (to minus 4% of gross domestic product) was primarily on account of an increase in the deficit of primary income, Bank of Latvia economic expert Linda Vecgaile writes in the makroekonomika.lv economic news portal, cites LETA.