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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 06:25

Foreign trade turnover decreased by 2.4 % in June in Latvia

Lilita Laganovska Foreign Trade Statistics Methodology, Analysis and Dissemination Section Central Statictical Buraue of Latvia, 09.08.2016.Print version
Provisional data of the Central Statistical Bureau (CSB) show that, as compared to May, in June 2016 Latvian foreign trade turnover at current prices decreased by 2.4%, as the exports value of goods declined by 3.1 % and the imports value dropped by 1.8%.

In June, Latvia exported goods in the amount of EUR 815 mln, and imported goods in the amount of EUR 984 mln. The foreign trade balance worsened slightly, as exports in the total foreign trade value dropped to 45.3 % (in May 2016 – 45.6 %).

 

Main changes in exports in June, compared to May:

-       exports of basic metals and articles of basic metals fell by EUR 20.2 mln or 22.4 %,

-       exports of vegetable products decreased by EUR 15.0 mln or 35.8 %,

-       exports of wood and articles of wood reduced by EUR 11.2 mln or 7.1 %,

-       exports of machinery and mechanical appliances; electrical equipment increased by EUR 13.0 mln or 10.1 %,

-       exports of prepared foodstuffs grew by EUR 6.5 mln or 10.0 %.

 

Main changes in imports in June, compared to May:

-       imports of vehicles and associated transport equipment dropped by EUR 21.9 mln or 17.0 %,

-       imports of products of the chemical and allied industries declined by EUR 6.8 mln or 6.1 %,

-       imports of vegetable products decreased by EUR 3.3 mln or 8.2 %,

-       imports of machinery and mechanical appliances; electrical equipment rose by EUR 10.8 mln or 5.5 %,

-       imports of prepared foodstuffs increased by EUR 4.1 mln or 5.0 %.

 

Russia was the main partner in trade with third countries; its share in total Latvian exports in June accounted for 7.9 %, whereas in imports – for 7.1 %.

 

The rise in exports of articles of iron and steel in June 2016, as compared to June 2015, was affected by the increase in exports of welded tubes, pipes and hollow profiles of iron and steel with a non-circular cross-section by EUR 0.6 mln or 33.0 %. In turn, exports of iron and steel reduced, as the exports of iron and non-alloy steel bars decreased by EUR 10.1 mln or 88.6%.

 

The rise in imports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof in June 2016, as compared to June 2015, was affected by the increase in imports of passenger cars by EUR 8.7 mln or 26.4 %. In turn, a decline in the imports of semi-finished products of iron or non-alloy steel of EUR 6.9 mln or of 98.5 % had the most significant effect on the imports of iron and steel.

 

In June, the main export partners in trade with the EU countries were Lithuania (19.0 % of total export), Estonia (12.7 %), Germany (6.9 %) and Sweden (6.8 %), whereas the main import partners were Lithuania (16.5 % of total imports), Germany (12.6 %), Poland (11.7 %) and Estonia (7.7 %).

 






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