Analytics, Baltic Export, EU – Baltic States

Similar to Latvia, Belgium also posted a 14% increase in export volumes in the first three months of the year, informs LETA.

The highest increase in exports in the first three months of the year was registered in Malta – by 36%, followed by Romania – 21%, as well as Slovakia, Poland, Hungary and Spain – all 18%.

Three countries registered a reduction in exports – Luxembourg by 8%, Ireland by 6%, and Finland by 3%.

At the same time, Latvia's imports in the first three months of the year, compared to January-March 2009, has decreased by 4%, which is the first largest reduction in the EU after Ireland, Luxembourg, Denmark and Bulgaria, which registered 10%, seven%, six% and five% reductions, respectively.

Lithuania's imports increased by 14% in the first three months of the year, whilst Estonia's increased by 11%.

Latvia's foreign trade deficit in the first quarter of the year has reduced to EUR 0.3 billion (LVL 0.2 billion), compared to EUR 0.5 billion (LVL 0.35 billion) a year ago.

Germany has the largest foreign trade surplus in the EU in the first quarter of the year – EUR 37.4 billion (LVL 26.3 billion), whilst Great Britain has the largest foreign trade deficit – EUR 24.9 billion (LVL 17.5 billion).