Analytics, Foreign trade , Latvia, Statistics
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 15:13
In November foreign trade turnover in goods in Latvia was 7% larger than year before
Over eleven
months of 2018, the foreign trade turnover of Latvia at current prices reached
EUR 25.64 bn – EUR 2.25 bn or 9.6% more than in the
corresponding period of 2017. The exports value comprised EUR 11.4 bn
(an increase of EUR 844.8 mln or 8%), whereas the imports value –
EUR 14.24 bn (an upturn of EUR 1.4 bn or 10.9%).
Calendar
and seasonally adjusted data show that, compared to November 2017, in
November 2018 the exports value at current prices went up by 4.3% and the
imports value by 9.1%, whereas, compared to the previous month, the exports
value increased by 3.5%, but the imports value – reduced by 7.5%.
Main
changes in exports in November 2018, compared to November 2017:
- exports of machinery and mechanical
appliances; electrical equipment up by EUR 45.1 mln or 26.2%,
- exports of wood and articles of
wood up by EUR 25.8 mln or 14.8%,
- exports of prepared foodstuffs
up by EUR 11.6 mln or 9.8%,
- exports of products of the
chemical and allied industries up by EUR 10.9 mln or 13.7%,
- exports of vegetable products
down by EUR 54.5 mln or 44.9%.
Main
changes in imports in November 2018, compared to November 2017:
- imports of basic metals and
articles of basic metals up by EUR 24.1 mln or 26.8%,
- imports of mineral products up
by EUR 20.3 mln or 21.8%,
- imports of products of the
chemical and allied industries up by EUR 18.2 mln or 15.3%,
- imports of wood and articles of
wood up by EUR 17.4 mln or 43.5%,
- imports of vehicles, aircraft,
vessels and associated transport equipment down by EUR 14.3 mln
or 11.7%.
In
November, the main export partners of Latvia in trade with EU countries were
Lithuania (16.1% of total exports), Estonia (11.6%), Sweden (8.2%) and Germany
(6.6%), whereas the main import partners were Lithuania (17.7% of total
imports), Germany (11.4%), Poland (9%) and Estonia (8.2%).
Main
partner in trade with third countries was Russia, share of which in total
exports of Latvia in November comprised 11.2%, but in imports – 7.8%.
Foreign trade of Latvia by country group in November 2018
(at current prices)
| Exports | Imports | ||||
| million EUR | % of total | changes as %, compared to November 2017 | million EUR | % of total | changes as %, compared to November 2017 |
Total | 1 168.2 | 100 | 5.2 | 1 300.6 | 100 | 8.6 |
European Union countries | 817.7 | 70.0 | 7.8 | 1 009.1 | 77.6 | 3.9 |
euro area countries | 541.5 | 46.4 | 4.5 | 750.8 | 57.7 | 3.2 |
CIS countries | 176.7 | 15.1 | 10.7 | 145.4 | 11.2 | 33.2 |
other countries | 173.8 | 14.9 | -9.4 | 146.1 | 11.2 | 24.8 |
The rise in the exports of machinery and mechanical
appliances in November 2018, as compared to November 2017, was
facilitated by an increase in the exports of turbojets, turbopropellers and
other gas turbines by EUR 20.5 mln. But exports of cereals reduced as
exports of wheat and meslin decreased by EUR 52.0 mln or 67.6%.
Rise of imports of iron and steel in November 2018, as
compared to November 2017, was mostly affected by the increase in imports
of flat rolled products of iron and steel of EUR 11.1 mln or
79.9%. In turn, decline in imports of tractors of EUR 6.9 mln
or 52.9% significantly influenced the total imports of vehicles other than
railway or tramway rolling stock, and parts and accessories thereof.
Main commodities in imports of Latvia in November 2018
(at current prices)
| thousand EUR | as % of total | Changes as %, compared to | ||
November 2017 | October 2018 | average of previous 12 months | |||
Total | 1 300 643 | 100 | 8.6 | -13.2 | 1.7 |
electrical machinery and equipment | 145 484 | 11.2 | -1.5 | -8.2 | 9.6 |
machinery and mechanical appliances | 139 458 | 10.7 | 2.6 | -13.8 | -7.4 |
mineral fuels, mineral oils and products of their distillation | 108 757 | 8.4 | 22.5 | -28.9 | -6.8 |
vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 103 134 | 7.9 | -12.9 | -11.1 | -6.1 |
pharmaceutical products | 58 750 | 4.5 | 22.7 | -7.3 | 18.0 |
beverages, spirits and vinegar | 58 353 | 4.5 | 2.1 | 2.8 | 18.5 |
wood and articles of wood; wood charcoal | 57 291 | 4.4 | 43.4 | 0.9 | 22.4 |
iron and steel | 55 763 | 4.3 | 65.0 | -13.7 | 3.6 |
plastics and articles thereof | 54 419 | 4.2 | 9.9 | 0.5 | 5.5 |
articles of iron and steel | 32 684 | 2.5 | 14.9 | -15.0 | 5.3 |