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Friday, 19.04.2024, 03:56
The foreign trade balance worsened slightly in Latvia in October
Over the first
ten months of the present year, the foreign trade turnover of Latvia at current
prices reached EUR 20.95 billion – EUR 2.41 billion or 13.0%
more than in the corresponding period of 2016. The exports value constituted
EUR 9.33 billion (an increase of EUR 814.8 million or 9.6%),
whereas the imports value comprised EUR 11.62 billion (an upturn of
EUR 1.6 billion or 16.0%).
Calendar and
seasonally adjusted data at current prices show that, compared to
October 2016, in October 2017 the exports value at current prices
went up by 7.0% and the imports value by 8.4%, whereas, compared to the
previous month, the exports value decreased by 1.5% and the imports value by
6.4%.
Main changes in exports in
October 2017, compared to October 2016:
-
exports of prepared foodstuffs up by EUR 32.9 mln or 37.8%;
- exports of base metals and articles of
base metals up by EUR 28.9 mln or 43.3%;
- exports of wood and articles of wood up
by EUR 27.4 mln or 18.8%;
- exports of products of the chemical and
allied industries up by EUR 12.7 mln or 18.2%;
- exports of vegetable products down by
EUR 21.8 mln or 17.8%.
Main changes in imports in
October 2017, compared to October 2016:
-
imports of products of the chemical and allied industries up by
EUR 28.3 mln or 28.1%;
- imports of prepared foodstuffs up by
EUR 24.7 mln or 23.7%;
- imports of machinery and mechanical
appliances; electrical equipment up by EUR 18.9 mln or 8.0%;
- imports of base metals and articles of
base metals up by EUR 13.1 mln or 13.7%;
- imports of vehicles, aircraft, vessels
and associated transport equipment down by EUR 6.0 mln or 5.7%.
In October, the
main export partners of Latvia in trade with EU countries were Lithuania (16.0%
of total exports), Estonia (11.3%), Germany (6.7%) and Sweden (6.2%), whereas
the main import partners were Lithuania (18.3% of total imports), Germany (11.4%),
Poland (8.9%) and Estonia (7.4%).
Foreign trade of Latvia in
October 2017 by country group (at current
prices)
|
Exports |
Imports |
||||
|
mln EUR |
% of total |
changes as%, compared to October 2016 |
mln EUR |
% of total |
changes as%, compared to October 2016 |
Total |
1 070.6 |
100 |
9.7 |
1 237.1 |
100 |
10.9 |
European
Union countries |
742.8 |
69.4 |
2.4 |
977.5 |
79.0 |
10.8 |
euro area
countries |
504.4 |
47.1 |
1.7 |
726.7 |
58.7 |
12.3 |
CIS
countries |
146.9 |
13.7 |
30.6 |
127.5 |
10.3 |
7.3 |
other
countries |
180.9 |
16.9 |
31.1 |
132.1 |
10.7 |
15.4 |
Russia was the
main partner in trade with third countries; its share in total Latvian exports
in October accounted for 10.1%, whereas in imports – for 7.4%.
Main commodities in exports of
Latvia in October 2017 (at current
prices)
|
thsd EUR |
as% of total |
Changes as%,
compared to |
||
October
2016 |
September
2017 |
average of
previous 12 months |
|||
Total |
1 070 559 |
100 |
9.7 |
3.5 |
16.0 |
wood and articles of wood; wood charcoal |
173 348 |
16.2 |
18.8 |
16.6 |
12.9 |
electrical
machinery and equipment |
95 552 |
8.9 |
-9.0 |
-8.8 |
-9.0 |
beverages,
spirits and vinegar |
73 246 |
6.8 |
54.9 |
23.0 |
65.0 |
machinery
and mechanical appliances |
71 786 |
6.7 |
24.5 |
-28.8 |
19.9 |
cereals |
58 925 |
5.5 |
-36.2 |
12.6 |
89.5 |
vehicles other than railway or tramway rolling stock, and parts and accessories
thereof |
53 063 |
5.0 |
0.6 |
4.1 |
5.1 |
mineral fuels, mineral oils and products of their distillation |
45 968 |
4.3 |
4.7 |
2.6 |
16.0 |
pharmaceutical
products |
38 436 |
3.6 |
14.9 |
12.4 |
9.2 |
iron and
steel |
38 387 |
3.6 |
81.1 |
1.4 |
15.5 |
articles of iron and steel |
36 908 |
3.4 |
26.3 |
17.2 |
22.9 |
The rise in the
exports of iron and steel in October 2017, as compared to
October 2016, was facilitated by an increase in the exports of waste and
scrap of cast iron by EUR 6.8 mln or 2.8 times. In turn, a drop
was experienced in the exports of cereals, as the exports of wheat and meslin
dropped by EUR 33.7 mln or 37.8%.
Main commodities in imports of
Latvia in October 2017 (at current
prices)
|
thsd EUR |
as% of total |
Changes as %, compared to |
||
October
2016 |
September
2017 |
average of
previous 12 months |
|||
Total |
1 237 097 |
100 |
10,9 |
-0,7 |
8,1 |
electrical
machinery and equipment |
132 870 |
10,7 |
-3,6 |
2,0 |
3,5 |
machinery
and mechanical appliances |
122 705 |
9,9 |
24,2 |
-1,2 |
10,9 |
mineral fuels, mineral oils and products of their distillation |
105 578 |
8,5 |
3,7 |
-32,1 |
-2,0 |
vehicles other than railway or tramway rolling stock, and parts and
accessories thereof |
92 893 |
7,5 |
-7,9 |
-6,9 |
-4,3 |
pharmaceutical
products |
62 642 |
5,1 |
38,7 |
18,2 |
27,6 |
beverages,
spirits and vinegar |
59 189 |
4,8 |
47,9 |
0,2 |
46,0 |
plastics
and articles thereof |
53 576 |
4,3 |
27,6 |
4,4 |
12,3 |
iron and
steel |
50 833 |
4,1 |
-1,6 |
27,7 |
22,9 |
wood and articles of wood; wood charcoal |
41 671 |
3,4 |
23,3 |
7,4 |
12,9 |
articles of iron and steel |
31 135 |
2,5 |
40,5 |
7,0 |
22,3 |
The increase in
the imports of beverages, spirits and vinegar in October 2017, as compared to
October 2016, was facilitated by an increase in the imports of spirits by
EUR 9.4 mln or 41.0%. Meanwhile, the decline in the imports of
vehicles other than railway or tramway rolling stock, and parts and accessories
thereof was mainly influenced by drop in imports of passenger cars of
EUR 8.3 mln or 17.3%.
More information
on the foreign trade of Latvia by month and quarter, as well as by country
group and commodity group is available in the Foreign Trade section of the CSB
database.