Analytics, Foreign trade , Latvia, Statistics

Calendar and seasonally adjusted data show that, compared to May 2018, in May 2019 the exports value at current prices fell by 3.2% , the imports value grew by 12%, whereas, compared to the previous month, the exports value decreased by 2.2 %, but the imports value increased by 3.4%.

Main changes in exports in May 2019, compared to May 2018:

• exports of vegetable products up by EUR 22.1 mln or 61.9%,
• exports of miscellaneous manufactured articles up by EUR 6.5 mln or 18.6%,
• exports of machinery and mechanical appliances; electrical equipment down by EUR 42.5 mln or 19.7%,
• exports of wood and articles of wood up by EUR 14.7 mln or 7.3%,
• exports of basic metals and articles of basic metals down by EUR 6.6 mln or 6.1%.

Main changes in imports in May 2019, compared to May 2018:

• imports of vehicles and associated transport equipment up by EUR 134.6 mln or 99.7%, 
• imports of mineral products up by EUR 24.7 mln or 21.2%,
• imports of products of the chemical and allied industries up by EUR 11.8 mln or 9.9%,
• imports of machinery and mechanical appliances; electrical equipment down by EUR 58.5 mln or 18.4%
• imports of basic metals and articles of basic metals down by EUR 15.7 mln or 13%.
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In May, the main export partners of Latvia in trade with EU countries were Lithuania (17.6% of total exports), Estonia (11.9%), Germany (7.4%) and Sweden (7.3%), whereas the main import partners were Lithuania (16.7% of total imports), Germany (10.9%), Poland (8.7%) and Estonia (8.3%). The main partner in trade with third countries was Russia, share of which in total Latvian exports in May accounted for 8.7%, but in imports – Canada with 9% in total imports.

In May 2019, compared to May 2018, share of the European Union countries grew in total exports value – by 3 percentage points, but in imports value – fell by 3.8 percentage points. Rise in share of CIS countries comprised 0.4 percentage points in exports and 0.6 percentage points in imports.

Foreign trade of Latvia by country groups in May 2019
(at current prices)

In May 2019 foreign trade balance of Latvia was positive with 128 partner countries, as exports value of goods exceeded imports value of goods. It was negative in trade with 39 countries.

Balance of foreign trade of Latvia
(difference in export and import values of goods, million EUR)

 In May 2019, compared to May 2018, rise in exports of furniture, other furnishing articles; prefabricated buildings was affected by increase in exports of mobile homes by EUR 1.3 mln or 3.5 times. But exports of machinery and mechanical appliances reduced as exports of turbojets, turbopropellers and other gas turbines dropped by EUR 56.3 mln or 98.2%.

Main commodities in exports of Latvia in May 2019
(at current prices)

Rise of imports in commodity group "aircraft, spacecraft, and parts thereof” in May 2019, compared to May 2018, was affected by purchase of aircrafts of EUR 126.7 mln, but imports of machinery and mechanical appliances fell as imports of turbojets, turbopropellers and other gas turbines reduced by EUR 60.7 mln or 98.8 %.

Main commodities in imports of Latvia in May 2019
(at current prices)