Analytics, Foreign trade , Latvia, Statistics

During the first ten months of the present year, the foreign trade turnover of Latvia at current prices reached EUR 18.47 bln – EUR 556.9 mln or 2.9% less than in the corresponding period of 2015. The exports value amounted to EUR 8.45 bln (a drop of EUR 150.1 mln or 1.7%), whereas the imports value amounted to EUR 10.02 bln (a drop of EUR 406.8 mln or 3.9%).

Foreign trade of Latvia, mln EUR

Main changes in exports in October, compared to September:

-       exports of vegetable products rose by EUR 13.6 mln or 12.7%,

-       exports of mineral products increased by EUR 6.5 mln or 14.4%,

-       exports of articles of stone, plaster, cement, glassware and ceramic products grew by EUR 5.2 mln or 21.0%,

-       exports of basic metals and articles of basic metals fell by EUR 9.9 mln or 13.1%.

-       exports of wood and articles of wood dropped by EUR 6.1 mln or 4.0%.

Main changes in imports in October, compared to September:

-       imports of machinery and mechanical appliances; electrical equipment grew by EUR 26.6 mln or 13.2%,

-       imports of mineral products rose by EUR 14.2 mln or 15.4%,

-       imports of basic metals and articles of basic metals increased by EUR 10.5 mln or 12.2%,

-       imports of prepared foodstuffs grew by EUR 9.3 mln or 9.3%,

-       imports of vehicles and associated transport equipment dropped by EUR 10.3 mln or 10.0%.

In October, the main export partners in trade with EU countries were Lithuania (18.2 % of total exports), Estonia (11.2%), Germany (7.0%) and Sweden (6.8%), whereas the main import partners were Lithuania (17.2% of total imports), Germany (12.0%), Poland (10.6%) and Estonia (7.3%).

Foreign trade of Latvia by country group in October 2016, at current prices

	Exports			Imports
	mln EUR	% of total	Changes as % compared to September 2016	mln EUR	% of total	Changes as % compared to September 2016
Total	971.3	100	1.9	1 104.2	100	6.1
European Union countries	726.2	74.8	0.5	870.9	78.9	1.8
Euro area countries	489.8	50.4	-3.9	634.6	57.5	3.8
CIS countries	111.6	11.5	4.1	118.9	10.8	22.8
Other countries	133.5	13.7	7.7	114.4	10.3	29.3

Russia was the main partner in trade with third countries; its share in total Latvian exports in October accounted for 8.1%, whereas in imports – for 8.4%.

Growth in the exports of pharmaceutical products in October 2016, as compared to October 2015, was influenced by an increase in the exports of medicines (of EUR 6.5 mln or 27.1%).In turn, there was a drop in the exports of electrical machinery and equipment, as the exports of monitors, projectors and television receivers decreased by EUR 7.1 mln or 22.6%.

 

Growth in the exports of pharmaceutical products in October 2016, as compared to October 2015, was influenced by an increase in the exports of medicines (of EUR 6.5 mln or 27.1%).In turn, there was a drop in the exports of electrical machinery and equipment, as the exports of monitors, projectors and television receivers decreased by EUR 7.1 mln or 22.6%.