Analytics, Foreign trade , Latvia, Statistics
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Thursday, 28.03.2024, 17:41
Latvian foreign trade turnover up by 14.3%
Over the first quarter of 2017, the foreign trade turnover of Latvia at current prices reached EUR 5.76 bln – EUR 609.2 mln or 11.8% more than in the corresponding period of 2016. The exports value constituted EUR 2.6 bln (an increase of EUR 239.1 mln or 10.1%), whereas the imports value comprised EUR 3.16 bln (an upturn of EUR 370.1 mln or 13.3%).
Foreign trade of Latvia, mln EUR
Data source: CSB
Notes: data on January, February, March and December 2016 have been revised
Main changes in exports in March 2017, compared to March 2016:
- exports of wood and articles of wood up by EUR 30.2 mln or 19.7%,
- exports of prepared foodstuffs up by EUR 21.1 mln or 34.4%,
- exports of live animals and animal products up by EUR 15.0 mln or 50.6%,
- exports of machinery and mechanical appliances; electrical equipment up by EUR 12.3 mln or 8.2%,
- exports of base metals and articles of base metals down by EUR 4.5 mln or 6.3%.
Main changes in imports in March 2017, compared to March 2016:
- imports of mineral products up by EUR 22.4 mln or 28.3%,
- imports of prepared foodstuffs up by EUR 17.6 mln or 21.7%,
- imports of base metals and articles of base metals up by EUR 17.0 mln or 22.7%,
- imports of plastics and articles thereof; rubber and articles thereof up by EUR 11.4 mln or 19.2%,
- imports of vehicles, aircraft, vessels and associated transport equipment down by EUR 9.1 mln or 8.6%.
In March, the main export partners in trade with EU countries were Lithuania (16.6% of total exports), Estonia (12.9%), Germany (7.4%) and Sweden (6.5%), whereas the main import partners were Lithuania (17.4% of total imports), Poland (10.1%), Germany (9.8%) and Estonia (8.0%).
Foreign trade of Latvia in March 2017 by country group, at current prices
| Exports | Imports | ||||
| mln EUR | % of total | Changes as % compared to March 2016 | mln EUR | % of total | Changes as % compared to March 2016 |
Total | 960.2 | 100 | 13.2 | 1 189.7 | 100 | 15.2 |
Member States of the European Union | 714.0 | 74.4 | 15.3 | 910.8 | 76.6 | 12.0 |
Euro area countries | 487.0 | 50.7 | 17.4 | 659.6 | 55.4 | 13.5 |
CIS countries | 116.3 | 12.1 | 31.3 | 111.4 | 9.4 | -1.3 |
Other countries | 129.9 | 13.5 | -7.2 | 167.5 | 14.0 | 56.9 |
Russia was the main partner in trade with third countries; its share in total Latvian exports in March accounted for 8.4%, whereas in imports – for 6.4%.
Main commodities in exports of Latvia in March 2017, at current prices
| thsd EUR | % of total | Changes as % compared to | ||
March 2016 | February 2017 | Average of previous 12 months | |||
Total | 960 226 | 100 | 13.2 | 15.3 | 9.9 |
Wood and articles of wood; wood charcoal | 183 865 | 19.1 | 19.7 | 27.2 | 23.4 |
Electrical machinery and equipment | 111 847 | 11.6 | 20.9 | 14.1 | 12.6 |
Vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 52 789 | 5.5 | 3.8 | 10.2 | 7.7 |
Machinery and mechanical appliances | 50 896 | 5.3 | -12.1 | -9.6 | -5.7 |
Mineral fuels, mineral oils and products of their distillation | 44 741 | 4.7 | 22.9 | 22.8 | 11.8 |
Pharmaceutical products | 39 302 | 4.1 | -0.6 | 23.3 | 14.8 |
Beverages, spirits and vinegar | 36 473 | 3.8 | 45.7 | 9.6 | 4.7 |
Articles of iron or steel | 32 760 | 3.4 | 24.4 | 26.1 | 14.4 |
Cereals | 27 321 | 2.8 | -7.2 | 79.6 | -12.6 |
Furniture, other furnishing articles; prefabricated buildings | 27 279 | 2.8 | 9.1 | 21.9 | 8.3 |
The 45.7% rise in exports of beverages, spirits and vinegar in March 2017, as compared to March 2016, was mostly affected by an increase in the exports of spirits (of EUR 5.8 mln or 32.7%). In turn, exports of machinery and mechanical appliances reduced by 12.1%, as exports of computers and components thereof dropped by EUR 11.3 mln or 67.2%.
Main commodities in imports of Latvia in March 2017, at current prices
| thsd EUR | % of total | Changes as % compared to | ||
March 2016 | February 2017 | Average of previous 12 months | |||
Total | 1 189 733 | 100 | 15.2 | 20.8 | 13.8 |
Electrical machinery and equipment | 117 371 | 9.9 | 5.6 | 18.3 | -2.3 |
Machinery and mechanical appliances | 101 424 | 8.5 | -4.5 | 27.4 | 1.8 |
Mineral fuels, mineral oils and products of their distillation | 98 123 | 8.2 | 28.3 | -5.0 | 7.9 |
Vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 93 734 | 7.9 | -6.3 | 10.0 | -3.3 |
Plastics and articles thereof | 54 252 | 4.6 | 27.9 | 24.5 | 24.0 |
Pharmaceutical products | 53 556 | 4.5 | -2.0 | 3.8 | 11.2 |
Wood and articles of wood; wood charcoal | 42 061 | 3.5 | 9.5 | 34.9 | 22.0 |
Iron and steel | 40 686 | 3.4 | 45.2 | 32.9 | 15.7 |
Beverages, spirits and vinegar | 37 090 | 3.1 | 44.3 | 49.6 | 19.3 |
Miscellaneous chemical products | 34 725 | 2.9 | 25.7 | 2.8 times | 2.6 times |
The 45.2% rise in imports of iron and steel in March 2017, as compared to March 2016, was affected by an increase in the imports of metal waste and scrap (of EUR 2.2 mln or 2.8 times), as well as growth in the imports of angles, shapes and sections of iron and non-alloy steel (of EUR 2.2 mln or 2.3 times). In turn, the 6.3% drop in the imports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof was mostly affected by a decline in the imports of passenger cars (of EUR 11.5 mln or 23.5%).