Analytics, Foreign trade , Latvia, Statistics

International Internet Magazine. Baltic States news & analytics Friday, 07.08.2020, 03:27

In September value of goods exported from Latvia was 2.5 % larger than a year ago

Lilita Laganovska Foreign Trade Statistics Methodology, Analysis and Dissemination Section, 12.11.2019.Print version
Provisional data of the Central Statistical Bureau show that in September 2019 the foreign trade turnover of Latvia amounted to EUR 2.44 bn, which at current prices was 1.6% less than a year ago, of which the exports value of goods was 2.5 % higher, but imports value of goods was 4.6% lower.

In September, Latvia exported goods in the amount of EUR 1.09 bn, but imported in the amount of EUR 1.36 bn. Compared to September 2018, foreign trade balance has improved as exports in total foreign trade amount increased from 42.7% to 44.5%.


Over the nine months of this year, the foreign trade turnover of Latvia at current prices reached EUR 21.1 bn – EUR 95.1 mln or 0.5% more than in the corresponding period of 2018. The exports value constituted EUR 9.41 bn (an increase of EUR 56.6 mln or 0.6%), whereas the imports value – EUR 11.69 bn (an upturn of EUR 38.5 mln or 0.3%).




Calendar and seasonally adjusted data show that, compared to September 2018, in September 2019 the exports value at current prices went down by 1.5% and the imports value by 10.6%, whereas, compared to the previous month, the exports value decreased by 3.9%, but the imports value increased by 4.2%.


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

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

In September, the main export partners of Latvia in trade with EU countries were Lithuania (16.9% of total exports), Estonia (11.3%), Germany (6.8 %) and Sweden (6.4 %), whereas the main import partners were Lithuania (18.1% of total imports), Germany (10.7%), Poland (9%) and Estonia (7.6%). The main partner in trade with third countries was Russia, share of which in total Latvian exports in September accounted for 10.5%, but in imports – for 6.8%.






In September 2019, compared to September 2018, share of the European Union countries remained the same in total exports value – (70.3%) but in imports value – grew by 6.7 percentage points. Rise in share of CIS countries comprised 1.8 percentage points in exports and drop of 5.3 percentage points in imports.


Foreign trade of Latvia by country group in September 2019
(at current prices)

 

Exports

Imports

 

million EUR

% of total

changes as %, compared to September 2018

million EUR

% of total

changes as %, compared to September 2018

Total

1,087.3

100

2.5

1,356.0

100

-4.6

European Union countries

764.2

70.3

2.4

1,022.2

75.4

4.6

euro area countries

531.9

48.9

5.4

748.0

55.2

3.4

CIS countries

158.2

14.5

17.4

133.8

9.9

-38.3

other countries

164.9

15.2

-8.3

200.0

14.7

-12.2

 


In September 2019 foreign trade balance of Latvia was positive with 124 partner countries, as exports value of goods exceeded imports value of goods. It was negative in trade with 42 countries.


Balance of foreign trade of Latvia

(difference between value of goods exports and imports, million euros)




The rise in the exports of cereals in September 2019, as compared to September 2018, was facilitated by an increase in the exports of wheat and meslin by EUR 18.5 mln or 59.3%. But exports of machinery and mechanical appliances reduced as exports of turbojets, turbopropellers and other gas turbines dropped by EUR 40.4 mln or 99.2%.


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

 

Thousand EUR

As % of total

Changes as %, compared to

September 2018

August 2019

average of previous 12 months

Total

1 087 291

100

2.5

-0.9

2.1

wood and articles of wood; wood charcoal

162 581

15.0

-10.0

-8.7

-14.8

electrical machinery and equipment

112 616

10.4

11.0

0.7

1.3

beverages, spirits and vinegar

65 801

6.1

5.2

12.8

23.8

machinery and mechanical appliances

61 349

5.6

-34.8

-1.7

-11.4

cereals

59 390

5.5

28.4

-25.8

62.7

vehicles other than railway or tramway rolling stock, and parts and accessories thereof

58 238

5.4

11.5

14.5

-2.2

articles of iron or steel

42 675

3.9

27.2

8.3

18.4

mineral fuels, mineral oils and products of their distillation

42 481

3.9

-22.0

-4.8

-20.9

pharmaceutical products

39 086

3.6

13.2

-9.2

-1.6

furniture, other furnishing articles; prefabricated buildings

33 952

3.1

14.2

7.2

12.6

 


Rise of imports of aircraft, spacecraft, and parts thereof in September 2019, compared to September 2018, was affected by purchase of ground flying trainers and parts thereof of EUR 10.3 mln. In its turn, reduction of imports of mineral fuels, mineral oils and products of their distillation was mostly influenced by decrease of imports of natural gas in the gaseous state by EUR 65.7 mln or 67.5%.

 

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

 

Thousand EUR

As % of total

Changes as %, compared to

September 2018

August 2019

average of previous 12 months

Total

1 356 026

100

-4.6

6.3

2.4

electrical machinery and equipment

138 600

10.2

-5.4

5.2

1.9

mineral fuels, mineral oils and products of their distillation

134 620

9.9

-37.8

-10.8

1.7

machinery and mechanical appliances

119 959

8.8

-17.2

13.4

-9.9

vehicles other than railway or tramway rolling stock, and parts and accessories thereof

100 746

7.4

5.9

8.3

-10.1

aircraft, spacecraft and parts thereof

77 396

5.7

17.2

26.9 times

68.7

beverages, spirits and vinegar

60 503

4.5

13.9

13.2

26.4

plastics and articles thereof

54 325

4.0

6.6

4.4

1.7

pharmaceutical products

49 445

3.6

9.2

9.5

-6.2

wood and articles of wood; wood charcoal

45 410

3.3

-5.0

-1.8

-7.1

iron and steel

39 893

2.9

-31.7

11.8

-21.0






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