Analytics, Foreign trade , Latvia, Statistics

In 2016, the foreign trade turnover of Latvia at current prices comprised EUR 22.61 bln, which was EUR 243.8 mln or 1.1% less than in 2015. The exports value constituted EUR 10.33 bln (a drop of EUR 30.9 mln or 0.3%), whereas the imports value comprised EUR 12.28 bln (a drop of EUR 212.9 mln or 1.7%).

Foreign trade of Latvia, mln EUR

Notes: data on September 2016 have been revised

Main changes in exports in December 2016, compared to December 2015:

-       exports of wood and articles of wood up by EUR 24.2 mln or 19.3%,

-       exports of products of the chemical and allied industries up by EUR 14.8 mln or 24.3%,

-       exports of vehicles, aircraft, vessels and associated transport equipment up by EUR 14.0 mln or 30.5%,

-       exports of live animals and animal products up by EUR 11.7 mln or 35.9%,

-       exports of vegetable products down by EUR 40.5 mln or 50.6%.

Main changes in imports in December 2016, compared to December 2015:

-       imports of products of the chemical and allied industries up by EUR 25.5 mln or 26.5%,

-       imports of basic metals and articles of basic metals up by EUR 15.5 mln or 23.7%,

-       imports of prepared foodstuffs up by EUR 10.8 mln or 12.7%,

-       imports of live animals and animal products up by EUR 9.2 mln or 27.3%,

-       imports of vehicles, aircraft, vessels and associated transport equipment down by EUR 18.6 mln or 14.4%.

In December, the main export partners in trade with EU countries were Lithuania (18.8% of total exports), Estonia (11.8%), United Kingdom (5.9%) and Sweden (5.7%), whereas the main import partners were Lithuania (16.9% of total imports), Germany (11.4%), Poland (8.9%) and Estonia (8.2%).

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

Russia was the main partner in trade with third countries; its share in total Latvian exports in December accounted for 10.8%, whereas in imports – for 8.5%.

Changes of main commodities in exports of Latvia; December 2016, at current prices

Growth in the exports of pharmaceutical products in December 2016, as compared to December 2015, was influenced by an increase in the exports of medicines (of EUR 7.8 mln or 29.6%). 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 8.9 mln or 41.6%.

Changes of main commodities in imports of Latvia; December 2016, at current prices

Growth in the imports of iron and steel in December 2016, as compared to December 2015, was affected by an increase in the imports of flat-rolled products of iron and non-alloy steel (of EUR 11.3 mln or 88.6%). 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 natural gas in gaseous state (of EUR 8.4 mln or 21.5%).