Analytics, Baltic Export, Baltic States – CIS, EU – Baltic States, Foreign trade , Latvia

Latvia’s foreign trade, mln euros (1)

Main changes in exports in December, compared to November:

·         exports of mineral products dropped by 29.1 mln euros or 33.5%,

·         exports of basic metals and articles of basic metals fell by 19.3 mln euros or 25.9%,

·         exports of wood and articles of wood reduced by 19.0 mln euros or 12.7%,

·         exports of vegetable products decreased by 17.1 mln euros or 29.3%,

·         exports of prepared foodstuffs dropped by 10.9 mln euros or 10.2%,

·         exports of machinery and mechanical appliances; electrical equipment grew by 11.3 mln euros or 7.9%.

Main changes in imports in December, compared to November:

·         imports of mineral products dropped by 24.4 mln euros or 13.3%,

·         imports of prepared foodstuffs reduced by 5.6 mln euros or 6.3%,

·         imports of optical instruments and apparatus (including medical); clocks and watches, musical instruments decreased by 4.9 mln euros or 18.1%,

·         imports of textiles and textile articles declined by 4.5 mln euros or 10.0%.

Despite that imports value in main commodity groups reduced, imports of vehicles and associated transport equipment in December 2014, compared to November, increased by 38.9 mln euros or 75.9%. It was affected by increase in arrivals of passenger cars from Germany by 17.4 mln euros and of transport vehicles for transportation of 10 and more persons from Czech Republic by 11.4 mln euros.

Foreign trade of Latvia by country group in December 2014, at current prices

In December main export partners were Lithuania (20.2% of total export), Estonia (12.0%), Poland (6.2%) and Sweden (6.0%); main import partners were Lithuania (17.5% of total import), Poland (10.5%), Germany (9.9%) and Estonia (8.1%).

The main impact in trade with third countries was Russia, share of which in total Latvian exports in December accounted for 11.3%, but in imports – 9.9%.

Changes of main commodities in Latvia’s exports in December 2014, at current prices

Rise of exports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof in December 2014, as compared to December 2013, was affected by the increase in exports of passenger cars to Lithuania by 4.3 mln euros and to Estonia – by 3.7 mln euros. In turn, exports of pharmaceutical products dropped as exports of medicaments pre-packed for retail sale decreased by 6.2 mln euros or 21.4%.

Changes of main commodities in Latvia’s imports in December 2014, at current prices

Rise of imports of wood and wood products; wood charcoal in December 2014, as compared to December 2013, was mostly affected by increase of 3.8 mln euros in imports of wood in the rough. In turn, decline in imports of iron and steel by 1.9 mln euros or by 66.8% influenced drop in imports of ferro alloy.

More information on Latvia’s foreign trade by month and quarter, by country group and commodity group is available in the CSB data base section "Foreign trade" Short term statistical data.

¹ Data on March, April and September 2014 have been revised.