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In September, Latvia exported goods in the amount of 966.0 mln euros, but imported – in the amount of 1 081.9 mln euros. Foreign trade balance improved as exports in total foreign trade value increased to 47.2% (in August 2015 – 43.2%).

Latvia’s foreign trade, mln euros (1)

Data source: Central Statistical Bureau of Latvia

Foreign trade balance in September was significantly affected by increase in seasonal exports of vegetable products of 114.8 mln euros or 5.4 times, compared to August. Of which exports of wheat and meslin, and brans rose by 73.2 mln euros or 26 times. In September it was mostly exported to Algeria – 44.5 mln euros, Saudi Arabia – 9.4 mln euros, France – 6.8 mln euros and Spain – 5.1 mln euros.

Main changes in exports in September, compared to August:

·         exports of basic metals and articles of basic metals grew by 26.2 mln euros or 41.8%,

·         exports of vehicles and associated transport equipment increased by 19.5 mln euros or 75.7%,

·         exports of prepared foodstuffs rose by 9.7 mln euros or 15.0%,

·         exports of products of the chemical and allied industries increased by 8.7 mln euros or 15.2%,

·         exports of machinery and mechanical appliances; electrical equipment decreased by 18.4 mln euros or 11.6%,

Main changes in imports in September, compared to August:

·         imports of vehicles and associated transport equipment increased by 40.3 mln euros or 77.6%,

·         imports of products of the chemical and allied industries increased by 25.2 mln euros or 25.8%,

·         imports of prepared foodstuffs rose by 8.8 mln euros or 9.9%,

·         imports of mineral products dropped by 25.3 mln euros or 16.9%.

In September main export partners in trade with the EU countries were Lithuania (18.9% of total exports), Estonia (10.7%), Germany (6.4%) and Poland (5.7%); main import partners were Lithuania (17.8% of total imports), Germany (11.6%), Poland (11.0%) and Estonia (7.5%).

Foreign trade of Latvia by country group in September 2015, at current prices

The main partner in trade with third countries was Russia, the share of which in total Latvian exports in September accounted for 7.0%, and in imports – for 7.6%.

Changes of main commodities in Latvia’s exports in September 2015, at current prices

Increase in exports of oil seeds, oleaginous fruits, industrial or medicinal plants in September 2015, as compared to September 2014 was affected by growth in exports of rape and colza seeds of 23.5 mln euros or 4.1 times. In turn exports of beverages, spirits and vinegar decreased, as exports of spirits dropped by 17.6 mln euros or 37.0%.

Changes of main commodities in Latvia’s imports in September 2015, at current prices

Growth of imports of pharmaceutical products in September 2015, as compared to September 2014, was mostly affected by increase in imports of medicines of 4.7 mln euros or 13.8%. In turn, drop in imports of mineral fuels, mineral oils and products of their distillation was mostly influenced by decrease in imports of diesel oil of 26.9 mln euros or 27.1%.

More information on foreign trade of Latvia by month and quarter, by country group and commodity group is available in the CSB data base section Foreign Trade.

¹ Data on June 2015 have been revised.