Analytics, Foreign trade , Latvia, Statistics

International Internet Magazine. Baltic States news & analytics Wednesday, 29.01.2020, 08:32

In November foreign trade turnover of Latvia was 7.2% smaller than a year ago

Lilita Laganovska Foreign Trade Statistics Methodology, Analysis and Dissemination Section, 09.01.2020.Print version
Provisional data of the Central Statistical Bureau show that in November 2019 the foreign trade turnover of Latvia amounted to EUR 2.39 bn, which at current prices was 7.2% less than in a year ago, of which the exports value of goods was 6.5% lower, but imports value of goods – 7.8% lower.

In November, Latvia exported goods in the amount of EUR 1.14 bn, but imported in the amount of EUR 1.25 bn. Compared to November 2018, foreign trade balance has improved slightly as exports in total foreign trade amount increased from 47.2% to 47.6%.


Over the eleven months of this year, the foreign trade turnover of Latvia at current prices reached EUR 26.08 bn – EUR 239.4 mln or 0.9% less than in the corresponding period of 2018. The exports value constituted EUR 11.76 bn (a decrease of EUR 10.7 mln or 0.1%), whereas the imports value – EUR 14.32 bn (a drop of EUR 228.7 mln or 1.6%).




Calendar and seasonally adjusted data show that, compared to November 2018, in November 2019 the exports value at current prices went down by 3.2% and the imports value by 5.1%, whereas, compared to the previous month, the exports value went up by 0.2% and the imports value – by 1.1%.


Main changes in exports in November 2019, compared to November 2018:

Main changes in imports in November 2019, compared to November 2018:

In November, the main export partners of Latvia in trade with EU countries were Lithuania (16.4% of total exports), Estonia (11.4%), Germany (7.5%) and Sweden (6.2%), whereas the main import partners were Lithuania (18.5% of total imports), Germany (10.6%), Poland (9.3%) and Estonia (8.2%). Russia was the main partner in trade with third countries; its share in total Latvian exports in November accounted for 11.4%, whereas in imports – for 6.8%.






In November 2019, compared to November 2018, share of the European Union countries in total exports value fell by 0.1 percentage point, but in imports value – grew by 1.5 percentage points. Rise in share of CIS countries comprised 1.3 percentage points in exports and drop of 1 percentage point in imports.


Foreign trade of Latvia by country group in November 2019
(at current prices)

 

Exports

Imports

 

million EUR

% of total

changes as %, compared to November 2018

million EUR

% of total

changes as %, compared to November 2018

Total

1 135.3

100

-6.5

1 250.1

100

-7.8

European Union countries

798.8

70.4

-6.6

995.2

79.6

-6.0

euro area countries

566.7

49.9

0.9

723.0

57.8

-7.2

CIS countries

182.1

16.0

1.9

127.0

10.2

-16.7

other countries

154.4

13.6

-14.0

127.9

10.2

-11.6

 


In November 2019 foreign trade balance of Latvia was positive with 127 partner countries, as exports value of goods exceeded imports value of goods. It was negative in trade with 47 countries.

 

Rise of exports of oil seeds, oleaginous fruits in November 2019, as compared to November 2018, was affected by the increase in exports of rape and colza seeds of EUR 23.4 mln or 2.8 times. In turn, reduction in exports of machinery and mechanical appliances; electrical equipment was mostly influenced by decrease of exports of turbojets by EUR 20.8 mln.

 

Main commodities in exports of Latvia in November 2019
(at current prices)

 

thousand EUR

as % of

total

Changes as %, compared to

November 2018

October 2019

average of previous 12 months

Total

1 135 330

100

-6.5

-6.2

6.3

wood and articles of wood; wood charcoal

170 531

15.0

-15.3

-6.8

-8.9

electrical machinery and equipment

127 208

11.2

-4.8

-0.5

12.9

beverages, spirits and vinegar

81 534

7.2

4.0

2.7

50.0

machinery and mechanical appliances

66 267

5.8

-34.6

1.1

2.2

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

53 600

4.7

-26.2

-13.3

-10.5

mineral fuels, mineral oils and products of their distillation

44 415

3.9

-27.7

0.9

-12.8

pharmaceutical products

39 510

3.5

-0.1

-27.8

-2.9

oil seeds and oleaginous fruits

38 981

3.4

2.6 times

3.6 times

4.2 times

articles of iron or steel

38 499

3.4

0.9

-1.2

4.3

furniture, other furnishing articles; prefabricated buildings

38 057

3.4

16.4

-2.3

22.8


Rise of imports of electrical machinery and equipment in November 2019, as compared to November 2018, was mostly affected by the increase in imports of electronic integrated circuits of EUR 2.8 mln or 36.7%. In turn, reduction in imports of mineral fuels, mineral oils and products of their distillation was mostly influenced by decrease of imports of diesel oil by EUR 15.7 mln or 27.2%.


Main commodities in imports of Latvia in November 2019
(at current prices)

 

thousand EUR

as % of

total

Changes as %, compared to

November 2018

October 2019

average of previous 12 months

Total

1 250 097

100

-7.8

-7.4

-4.3

electrical machinery and equipment

163 798

13.1

3.0

0.9

20.8

machinery and mechanical appliances

115 368

9.2

-20.4

-7.6

-10.2

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

97 259

7.8

-19.3

-7.6

-12.0

mineral fuels, mineral oils and products of their distillation

92 752

7.4

-31.6

-24.5

-23.1

pharmaceutical products

51 122

4.1

-2.8

-13.9

-4.1

beverages, spirits and vinegar

49 309

3.9

-9.2

-15.6

0.3

wood and articles of wood; wood charcoal

48 160

3.9

-13.4

-2.4

-0.2

plastics and articles thereof

47 772

3.8

-11.0

-13.4

-10.5

iron and steel

39 831

3.2

-27.7

-20.1

-16.9

articles of iron or steel

32 778

2.6

1.0

-0.8

1.1

 







Search site