Analytics, Foreign trade , Latvia, Statistics
International Internet Magazine. Baltic States news & analytics
Wednesday, 24.04.2024, 02:11
Latvian foreign trade balance has improved considerably in September
In September, Latvia exported goods in the amount of
EUR 953.6 mln, and imported goods in the amount of
EUR 1.04 bln. The foreign trade balance improved, as exports in the
total foreign trade value increased up to 47.8% (in August – 45.4%).
During the first nine months of the present year, Latvian
foreign trade turnover at current prices reached EUR 16.37 bln –
EUR 584.6 mln or 3.2% less than in the corresponding period of the
previous year. The exports value amounted to EUR 7.47 bln (a
drop of EUR 125.3 mln or 1.6%), whereas the imports value amounted to
EUR 8.9 bln (a drop of EUR 423.3 mln or 4.5%).
Main changes in exports in September, compared to August:
- exports of machinery
and mechanical appliances; electrical equipment increased by
EUR 17.6 mln or 13.1%,
- exports of prepared
foodstuffs grew by EUR 14.9 mln or 21.8%,
- exports of vegetable
products rose by EUR 14.8 mln or 16.1%,
- exports of products of
the chemical and allied industries increased by EUR 13.9 mln or 23.5%,
- exports of wood and
articles of wood grew by EUR 13.9 mln or 9.9%.
- exports of basic
metals and articles of basic metals fell by EUR 1.9 mln or 2.4%.
Main changes in imports in September, compared to August:
- imports of products of
the chemical and allied industries declined by EUR 11.1 mln or 9.6%,
- imports of textiles
and textile articles dropped by EUR 8.1 mln or 15.5%,
- imports of articles of
stone, plaster, cement, glassware and ceramic products decreased by
EUR 6.0 mln or 22.4%,
- imports of vehicles
and associated transport equipment increased by EUR 16.7 mln or 19.2%,
- imports of prepared
foodstuffs grew by EUR 7.3 mln or 7.9%.
In September, the main export partners in trade with EU
countries were Lithuania (17.7% of total export), Estonia (11.6%), Germany (8.7%)
and Sweden (5.6%), whereas the main import partners were Lithuania (18.4% of
total imports), Germany (11.9%), Poland (11.4%) and Estonia (8.0%).
Russia was the main partner in trade with third
countries; its share in total Latvian exports in September accounted for 7.8%,
whereas in imports – for 6.6%.
The growth in the exports of miscellaneous grains and seeds
(including oleaginous fruits), industrial or medicinal plants in
September 2016, as compared to September 2015, was influenced by an
increase in the exports of rape and colza seeds (of EUR 7.3 mln or
23.5%). In turn, exports of cereals decreased due to a drop in the exports of
wheat and meslin (of EUR 41.4 mln or 53.%).
The increase in the imports of alcoholic and non-alcoholic
beverages in September 2016, as compared to September 2015, was
mostly affected by an increase in the imports of spirits (of
EUR 6.0 mln or 30.3%). In turn, the drop in the imports of mineral
fuels, mineral oils and products of their distillation was mainly influenced by
a decrease in the imports of diesel oil (of EUR 19.6 mln or 26.9%).