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Friday, 29.03.2024, 12:08
Latvian exports and imports value of goods shows decline in November
During the eleven months of 2016, the foreign trade turnover of Latvia at current prices reached EUR 20.57 bln – EUR 450.2 mln or 2.1% less than in the corresponding period of 2015. The exports value amounted to EUR 9.44 bln (a drop of EUR 103.8 mln or 1.1%), whereas the imports value amounted to EUR 11.14 bln (a decline of EUR 346.4 mln or 3.0 %).
Foreign trade of Latvia; mln EUR
Notes: the data on August 2016 have been revised.
Main changes in exports in November, compared to October:
- exports of vegetable products dropped by EUR 65.6 mln or 54.6 %;
- exports of articles of stone, plaster, cement, glassware and ceramic products fell by EUR 6.4 mln or 21.4 %;
- exports of machinery and mechanical appliances; electrical equipment grew by EUR 25.4 mln or 17.4 %;
- exports of wood and articles of wood rose by EUR 25.4 mln or 17.2 %;
- exports of prepared foodstuffs increased by EUR 15.4 mln or 17.6 %.
Main changes in imports in November, compared to October:
- imports of basic metals and articles of basic metals dropped by EUR 22.0 mln or 22.7 %;
- imports of prepared foodstuffs fell by EUR 10.3 mln or 9.4 %;
- imports of textiles and textile articles declined by EUR 7.6 mln or 16.7 %;
- exports of machinery and mechanical appliances; electrical equipment grew by EUR 20.2 mln or 8.9 %;
- imports of products of the chemical and allied industries increased by EUR 9.5 mln or 9.1 %.
In November, Lithuania (17.8 % of total exports), Estonia (11.6 %), Germany (8.3) and the United Kingdom (6.3 %) were the main export partners in trade with the EU countries, and Lithuania (18.2 % of total imports), Germany (12.6 %), Poland (9.9 %) and Estonia (7.5 %) were the main import partners.
Foreign trade of Latvia by country group; November 2016, at current prices
| Exports | Imports | ||||
| mln EUR | % of total | Changes as % of October 2016 | mln EUR | % of total | Changes as % of October 2016 |
Total | 970.3 | 100 | -0.1 | 1 092.4 | 100 | -1.1 |
European Union countries | 717.6 | 74.0 | -1.2 | 870.5 | 79.7 | -0.04 |
Euro area countries | 477.0 | 49.2 | -2.6 | 645.8 | 59.1 | 1.8 |
CIS countries | 132.6 | 13.7 | 18.9 | 118.8 | 10.9 | -0.04 |
Other countries | 120.1 | 12.3 | -10.2 | 103.1 | 9.4 | -9.9 |
Russia was the main partner in the trade with third countries; in November its share in the total Latvian exports grew up to 9.5% (8.1% in October), and the greatest increase was observed in the exports of spirits – of EUR 6.7 mln or 29.4%. In the meantime, the share of imports constituted 8.5% (8.4% in October).
Changes of main commodities in exports of Latvia; November 2016, at current prices
| thsd EUR | % of total | Changes as % over | ||
November 2015 | October 2016 | average of previous 12 months | |||
Total | 970 272 | 100 | 3.4 | -0.1 | 13.8 |
Wood and wood products; wood charcoal | 172 904 | 17.8 | 22.4 | 17.2 | 19.2 |
Electrical machinery and equipment | 119 838 | 12.4 | -13.2 | 25.5 | 19.9 |
Beverages, spirits and vinegar | 57 886 | 6.0 | 10.7 | 25.0 | 79.4 |
Vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 55 587 | 5.7 | 27.4 | 13.0 | 22.6 |
Machinery and mechanical appliances | 52 207 | 5.4 | 2.6 | 2.2 | -0.7 |
Mineral fuels, mineral oils and products of their distillation | 41 735 | 4.3 | -8.0 | -12.0 | 4.6 |
Pharmaceutical products | 36 741 | 3.8 | 24.3 | 4.2 | 13.7 |
Cereals | 32 452 | 3.3 | -54.8 | -63.8 | -19.1 |
Furniture, other furnishing articles; prefabricated buildings | 32 354 | 3.3 | 46.2 | 20.6 | 35.7 |
Iron and steel | 30 506 | 3.1 | 5.2 | 41.9 | 22.0 |
Compared to November 2015, in November 2016 growth in exports of furniture, other furnishing articles; prefabricated buildings was influenced by the increase in exports of prefabricated buildings of EUR 5.8 mln (of which rise of EUR 3.4 mln in exports of iron and steel greenhouses).Whereas, due to the drop of EUR 43.5 mln or 62.4% in the exports of wheat and meslin, a decline was recorded in the exports of cereals.
Changes of main commodities in imports of Latvia; November 2016, at current prices
| thsd EUR | % of total | Changes as % of | ||
November 2015 | October 2016 | average of previous 12 months | |||
Total | 1 092 432 | 100 | 3.2 | -1.1 | 8.2 |
Electrical machinery and equipment | 139 916 | 12.8 | -2.5 | 3.9 | 18.6 |
Machinery and mechanical appliances | 108 225 | 9.9 | 2.9 | 16.1 | 10.9 |
Mineral fuels, mineral oils and products of their distillation | 105 170 | 9.6 | -10.7 | 2.6 | 16.7 |
Vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 95 095 | 8.7 | 15.1 | 7.9 | 3.1 |
Pharmaceutical products | 48 308 | 4.4 | 3.0 | 5.3 | 3.0 |
Plastics and articles thereof | 44 432 | 4.1 | 12.6 | 0.7 | 6.8 |
Beverages, spirits and vinegar | 35 310 | 3.2 | -2.6 | -14.2 | 17.5 |
Wood and wood products; wood charcoal | 34 006 | 3.1 | 20.9 | -1.8 | 3.3 |
Iron and steel | 32 819 | 3.0 | 14.9 | -37.3 | 0.3 |
Paper and paperboard; articles of paper pulp, of paper or of paperboard | 24 631 | 2.3 | 11.5 | -1.5 | 13.4 |
Compared to November 2015, in November 2016 rise in the imports of wood, wood products and wood charcoal was affected by the increase in imports of sawn wood – of EUR 2.3 mln or 34.2%. In turn, the drop in imports of mineral fuels, mineral oils and products of their distillation was mainly influenced by the decrease in imports of diesel oil – of EUR 9.0 mln or 14.9%.