Foreign trade , Good for Business, Latvia, Statistics

International Internet Magazine. Baltic States news & analytics Monday, 24.09.2018, 15:10

Latvian exports of goods up 9.3% in January-May, imports grow 7.9%

BC, Riga, 11.07.2018.Print version
During the first five months of 2018 Latvia exported EUR 4.917 bln worth of goods, up 9.3% or EUR 416.8 mln against the same period last year, while Latvian imports grew 7.9% or EUR 430 mln to EUR 5.847 bln, according to the latest foreign trade data released today by the Central Statistical Bureau.

In May 2018, Latvian exports rose 6.2% from April 2018 and 8.5% against May 2017 to EUR 1.047 bln. Imports increased 11.6% from April 2018 and rose 10.4% against May 2017 to EUR 1.277 bln.




Compared to May 2017, Latvia's foreign trade balance worsened slightly as the share of exports decreased from 45.5% to 45%.


In May 2018, Latvian timber, timber products and charcoal were exported for EUR 197.824 mln or 18.9% of total exports, growing 6.5% from April 2018 and 17.4% from May 2017. Exports of electric appliances and equipment accounted for EUR 97.476 mln or 9.3% of total exports, up 10.7% month-on-month and down 13.7% year-on-year.


Machinery and mechanical appliances prevailed in Latvian imports in May 2018 at EUR 192.426 mln or 15.1% of total imports, soaring 51.7% from April 2018 and surging 73.6% from May 2017. Imports of electric appliances and equipment made up EUR 118.963 mln or 9.3% of total imports, up 0.4% from April 2018 but down 7% year-on-year.


In May 2018, Latvia's main export partners in the EU included Lithuania, which received 16.4% of Latvia's total exports, Estonia (11.8%), Sweden (7%) and Germany (6.6%), while the key import partners were Lithuania (18.1% of total imports), Germany (10.6%), Poland (8.7%) and Estonia (8.2%).


Russia was Latvia's main partner in trade with third countries as its share in total Latvian exports in May 2018 accounted for 9%, whereas in imports for 6.2%.


Foreign trade of Latvia in April 2018 by country group
(at current prices)


 

Exports

Imports

 

million euros

% of total

changes as %, compared to May 2017

million euros

% of total

changes as %, compared to May 2017

Total

1 047.0

100

8.5

1 277.5

100

10.4

European Union countries

756.6

72.3

6.2

974.7

76.3

3.5

euro area countries

511.0

48.8

5.3

729.6

57.1

3.8

CIS countries

132.5

12.7

12.2

122.9

9.6

11.6

other countries

157.9

15.0

17.9

179.9

14.1

70.5



Main commodities in exports of Latvia in May 2018

(at current prices)


 

thousand euros

% of total

Changes as %, compared to

May 2017

April 2018

average of previous 12 months

Total

1 046 968

100

8.5

6.2

6.3

wood and articles of wood; wood charcoal

197 824

18.9

17.4

6.5

20.9

electrical machinery and equipment

97 476

9.3

-13.7

10.7

-7.1

machinery and mechanical appliances

96 673

9.2

82.6

43.4

34.9

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

59 384

5.7

3.1

0.7

8.2

beverages, spirits and vinegar

54 945

5.2

38.8

36.6

8.4

iron and steel

50 608

4.8

57.0

38.3

34.3

mineral fuels, mineral oils and products of their distillation

41 344

3.9

2.2

2.8

0.7

articles of iron or steel

34 865

3.3

8.5

-3.7

6.6

pharmaceutical products

32 506

3.1

-17.2

-0.8

-9.4

furniture; bedding, mattresses, cushions and similar stuffed furnishings; prefabricated buildings

30 577

2.9

11.9

9.1

3.8



Main commodities in imports of Latvia in May 2018
(at current prices)


 

Thousand euros

% of total

Changes as %, compared to

May 2017

April 2018

average of previous 12 months

Total

1 277 525

100

10.4

11.6

7.2

machinery and mechanical appliances

192 426

15.1

73.6

51.7

50.5

electrical machinery and equipment

118 963

9.3

-7.0

0.4

-9.3

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

106 876

8.4

-1.8

4.2

3.2

mineral fuels, mineral oils and products of their distillation

93 273

7.3

-12.2

16.6

-8.8

iron and steel

61 244

4.8

41.9

14.4

26.4

beverages, spirits and vinegar

59 255

4.6

45.9

53.0

27.2

plastics and articles thereof

56 440

4.4

-0.02

4.4

10.4

wood and articles of wood; wood charcoal

54 342

4.3

34.2

8.8

33.8

pharmaceutical products

51 098

4.0

3.5

-0.4

1.6

articles of iron or steel

32 880

2.6

4.2

17.4

13.1






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