Analytics, Baltic Export, Foreign trade , Good for Business, Latvia

It also impacted foreign trade balance – exports share in total foreign trade volume reached 44.5%. For comparison, in the first three months of previous year it was 43.0%.

Foreign trade of Latvia at current prices by quarters, mln lats

Excluding impact of price changes, in the first quarter of this year, compared to first quarter of previous year, exports volume at constant prices rose by 3.6%, but imports volume decreased by 1.6%.

Changes of foreign trade of Latvia at current and constant prices by quarters, as percent of corresponding quarter of previous year

In the first quarter of 2013 largest volume of goods – two fifths from the total of exports – were exported by manufacturing enterprises. Increase of exports of these enterprises, compared to the first quarter of previous year, comprised 7.0 mln lats or 1.1%.

Structure of foreign trade of Latvia according to the kind of economic activity of enterprises by NACE Rev. 2 classification in the 1st quarter of 2013, at current prices

But in imports more than a half of all goods were imported by enterprises whose main kind of activity is wholesale and retail trade. Compared to the first quarter of previous year, volume of goods imported by these enterprises slightly reduced, however – by 23.5 thsd lats or 2.1%.

Accordingly final consumption of goods statistical data on foreign trade grouped show that in the first three months of the year, compared to the first quarter of previous year, exports of such important component of the national accounts as capital goods has increased rapidly – by 26.1%, but imports, however, has decreased by 17.0%. Share of these goods in exports comprised 10.2%, but in imports – 11.2%. Capital goods consist of fixed assets, raw materials and other materials foreseen for the further processing.