Export, Foreign trade , Good for Business, Latvia, Statistics
International Internet Magazine. Baltic States news & analytics
Wednesday, 17.04.2024, 23:55
In October foreign trade turnover in goods in Latvia was 13.3% larger than last year
Over the
first ten months of this year, the foreign trade turnover of Latvia at current
prices reached EUR 23.16 bn – EUR 2.08 bn or 9.9% more than
in the corresponding period of 2017. The exports value constituted
EUR 10.22 bn (an increase of EUR 780.4 mln or 8.3%),
whereas the imports value – EUR 12.94 bn (an upturn of
EUR 1.30 mln or 11.1%).
Calendar
and seasonally adjusted data show that, compared to October 2017, in
October 2018 the exports value at current prices went up by 5.1% and the
imports value – by 16.0%, whereas, compared to the previous month, the exports
value decreased by 0.4% and the imports value – by 5.0%.
Main
changes in exports in October 2018, compared to October 2017:
- exports of wood and articles of
wood up by EUR 34.9 mln or 20.1%,
- exports of machinery and
mechanical appliances; electrical equipment up by EUR 30.9 mln
or 17.8%,
- exports of products of the
chemical and allied industries up by EUR 22.8 mln or 28.7%,
- exports of basic metals and
articles of basic metals up by EUR 10.7 mln or 11.3%,
- exports of vegetable products
down by EUR 38.9 mln or 38.5%.
Main
changes in imports in October 2018, compared to October 2017:
- imports of vehicles and
associated transport equipment up by EUR 66.7 mln or 57.7%,
- imports of machinery and
mechanical appliances; electrical equipment up by EUR 62.9 mln
or 24.4%,
- imports of mineral products up
by EUR 32.3 mln or 25.3%,
- imports of basic metals and
articles of basic metals up by EUR 22.7 mln or 20.6%,
- imports of wood and articles of
wood up by EUR 16.9 mln or 42.4%.
In October,
the main export partners of Latvia in trade with EU countries were Lithuania
(16.7% of total exports), Estonia (11.3%), Sweden (6.7 %) and Germany (6.6%),
whereas the main import partners were Lithuania (17.1% of total imports),
Germany (10.2%), Poland (8.7%) and Estonia (6.8%).
Exports | Imports | |||||
| million EUR | % of total | changes as %, compared to October 2017 | million EUR | % of total | changes as %, compared to October 2017 |
Total | 1 157.0 | 100 | 6.8 | 1 499.1 | 100 | 18.8 |
European Union countries | 815.8 | 70.5 | 8.7 | 1 065.9 | 71.1 | 8.2 |
euro area countries | 544.2 | 47.0 | 6.7 | 794.1 | 53.0 | 8.1 |
CIS countries | 161.1 | 13.9 | 8.6 | 193.7 | 12.9 | 33.5 |
other countries | 180.1 | 15.6 | -2.2 | 239.5 | 16.0 | 81.3 |
The main
partner in trade with third countries was Russia, share of which in total
Latvian exports in October accounted for 9.9%, but in imports – for 9.6%.
Rise of exports of pharmaceutical products in
October 2018, as compared to October 2017, was affected by the
increase in exports of medicines by EUR 9.2 mln or 27.0%. But exports
of beverages, spirits and vinegar reduced as exports of whiskey dropped by
EUR 5.8 mln or 21.6%.
Main commodities in exports of Latvia in October 2018
(at current prices)
Thousand EUR | As % of total | Changes as %, compared to | |||
October 2017 | September 2018 | average of previous 12 months | |||
Total | 1 157 047 | 100 | 6.8 | 11.9 | 13.7 |
wood and articles of wood; wood charcoal | 208 289 | 18.0 | 20.1 | 17.4 | 16.2 |
electrical machinery and equipment | 119 904 | 10.4 | 21.8 | 19.7 | 17.8 |
machinery and mechanical appliances | 84 625 | 7.3 | 12.7 | -10.0 | 5.3 |
beverages, spirits and vinegar | 68 330 | 5.9 | -6.9 | 8.9 | 29.0 |
vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 63 451 | 5.5 | 14.7 | 31.2 | 10.3 |
mineral fuels, mineral oils and products of their distillation | 48 499 | 4.2 | 9.9 | 22.6 | 18.3 |
pharmaceutical products | 48 200 | 4.2 | 33.8 | 33.6 | 34.5 |
iron and steel | 42 705 | 3.7 | 13.7 | -0.3 | 4.5 |
articles of iron and steel | 39 725 | 3.4 | 12.6 | 16.1 | 19.4 |
furniture, other furnishing articles; prefabricated buildings | 33 568 | 2.9 | 5.7 | 20.4 | 12.7 |
Rise of imports in commodity group "aircraft,
spacecraft, and parts thereof” in October 2018, compared to
October 2017, was affected by purchase of aircrafts – increase of
EUR 61.3 mln and imports of wood and articles of wood; wood charcoal
grew as imports of sawn wood rose by EUR 6.3 mln or 52.4%.
Main commodities in imports of Latvia in October 2018
(at current prices)
| Thousand EUR | As % of total | Changes as %, compared to | ||
October 2017 | September 2018 | average of previous 12 months | |||
Total | 1 499 102 | 100 | 18.8 | 8.3 | 19.1 |
machinery and mechanical appliances | 161 815 | 10.8 | 29.5 | 13.1 | 9.5 |
electrical machinery and equipment | 158 428 | 10.6 | 19.6 | 12.7 | 21.5 |
mineral fuels, mineral oils and products of their distillation | 152 885 | 10.2 | 24.4 | -20.4 | 33.9 |
vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 116 005 | 7.7 | 8.0 | 27.1 | 7.6 |
iron and steel | 64 603 | 4.3 | 26.6 | 10.9 | 22.1 |
aircraft, spacecraft and parts thereof | 64 162 | 4.3 | 24.5 times | -1.5 | 2.1 time |
pharmaceutical products | 63 382 | 4.2 | 5.4 | 31.9 | 27.0 |
beverages, spirits and vinegar | 56 786 | 3.8 | 2.6 | -0.3 | 14.6 |
wood and articles of wood; wood charcoal | 56 780 | 3.8 | 42.9 | 16.6 | 25.0 |
plastics and articles thereof | 54 146 | 3.6 | 4.2 | 8.7 | 5.4 |