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Friday, 29.03.2024, 11:55
In September, foreign trade turnover gone up by 13.3% in Latvia
In September, Latvia exported
goods in the amount of EUR 1.03 billion, and imported goods in the
amount of EUR 1.25 billion. The foreign trade balance worsened, as
exports in the total foreign trade value dropped to 45.4% (in September 2016 –
47.7%).
Over the first nine months of
the present year, the foreign trade turnover of Latvia at current prices
reached EUR 18.63 billion – EUR 2.19 billion or 13.3% more
than in the corresponding period of 2016. The exports value constituted
EUR 8.25 billion (an increase of EUR 716.0 million or 9.5%),
whereas the imports value comprised EUR 10.38 billion (an upturn of
EUR 1.47 billion or 16.5%).
Foreign trade of Latvia (million euros)
Data on June 2017 have
been revised
Calendar and seasonally
adjusted data at current prices show that, compared to September 2016, in
September 2017 the exports value at current prices went up by 10.3% and
the imports value by 22.5%, whereas, compared to the previous month, the
exports value grew by 0.5% and the imports value by 0.1%.
Main changes in exports in
September 2017, compared to September 2016:
-
exports of machinery and mechanical appliances; electrical equipment up by EUR
50.4 mln or 32.4%;
-
exports of prepared foodstuffs up by EUR 20.9 mln or 25.7%;
-
exports of base metals and articles of base metals up by EUR 15.5 mln or
21.1%;
-
exports of mineral products up by EUR 7.0 mln or 16.1%;
-
exports of vegetable products down by EUR 8.7 mln or 7.8%.
Main changes in imports in
September 2017, compared to September 2016:
-
imports of mineral products up by EUR 68.2 mln or 73.7%;
-
imports of machinery and mechanical appliances; electrical equipment up by EUR
44.8 mln or 21.4%;
-
imports of prepared foodstuffs up by EUR 24.6 mln or 25.6%;
-
imports of products of the chemical and allied industries up by EUR
21.9 mln or 22.3%;
-
imports of vehicles, aircraft, vessels and associated transport equipment up by
EUR 13.9 mln or 12.9%.
In September, Lithuania (with
16.2% of the total exports), Estonia (10.6%), Germany (7.1%) and United Kingdom
(5.1%) were the main export partners of Latvia in trade with the EU countries,
and Lithuania (with 17.2% of the total imports), Germany (10.8%), Poland (8.7%)
and Estonia (7.1%) were the main import partners.
Foreign trade of Latvia in
September 2017 by country group (at current
prices)
|
Exports |
Imports |
||||
|
mln EUR |
as % of
total |
changes as %, compared to SEP 2016 |
mln EUR |
as % of
total |
changes as %, compared to SEP 2016 |
Total |
1 034.4 |
100 |
7.7 |
1 246.0 |
100 |
18.4 |
European
Union countries |
704.3 |
68.1 |
-2.9 |
938.9 |
75.4 |
8.3 |
Euro area
countries |
496.4 |
48.0 |
-1.4 |
697.7 |
56.0 |
11.4 |
CIS
countries |
126.2 |
12.2 |
16.9 |
166.5 |
13.4 |
72.0 |
Other
countries |
203.9 |
19.7 |
59.6 |
140.6 |
11.2 |
58.7 |
Russia was the main partner in
trade with the third countries; in September, its share accounted for 8.9% in
the total Latvian exports and for 10.5% in the total Latvian imports.
Main commodities in exports of
Latvia in September 2017 (at current
prices)
|
Thsd EUR |
As%
oftotal |
Changes as%,
compared to |
||
September
2016 |
August
2017 |
average of
previous 12 months |
|||
Total |
1 034 371 |
100 |
7.7 |
7.9 |
12.8 |
wood and articles of wood; wood charcoal |
148 718 |
14.4 |
-1.3 |
-4.4 |
-3.3 |
electrical
machinery and equipment |
104 751 |
10.1 |
7.3 |
3.1 |
0.3 |
machinery
and mechanical appliances |
100 815 |
9.7 |
75.0 |
49.7 |
79.9 |
beverages,
spirits and vinegar |
59 537 |
5.8 |
41.3 |
2.4 |
38.4 |
cereals |
52 333 |
5.1 |
29.0 |
93.5 |
71.5 |
vehicles other than railway or tramway rolling stock, and parts and
accessories thereof |
50 972 |
4.9 |
2.2 |
9.8 |
1.8 |
mineral fuels, mineral oils and products of their distillation |
44 815 |
4.3 |
14.3 |
5.5 |
14.1 |
iron and
steel |
37 864 |
3.7 |
52.6 |
11.0 |
18.0 |
pharmaceutical
products |
34 197 |
3.3 |
4.0 |
9.6 |
-2.4 |
miscellaneous grains, seeds and fruit; industrial or medicinal plants |
33 024 |
3.2 |
-23.8 |
2.1 times |
3.6 times |
In September 2017, compared to
September 2016, rise in exports of machinery and mechanical appliances was
facilitated by the increase of EUR 47.7 million in exports of turbojets,
turbopropellers and other gas turbines. Exports of miscellaneous grains, seeds
and fruit; industrial or medicinal plants, in its turn, reduced, as the exports
of rape or colza seeds dropped by EUR 12.6 million or 29.7%.
Main commodities in imports of
Latvia in September 2017 (at current
prices)
|
Thsd EUR |
|
Changes as%,
compared to |
||
September
2016 |
August
2017 |
average of
previous 12 months |
|||
Total |
1 245 952 |
100 |
18.4 |
-3.2 |
10.5 |
mineral fuels, mineral oils and products of their distillation |
155 380 |
12.5 |
75.9 |
18.7 |
52.3 |
electrical
machinery and equipment |
130 257 |
10.5 |
12.7 |
-1.6 |
2.3 |
machinery
and mechanical appliances |
124 244 |
10.0 |
32.0 |
-14.7 |
15.3 |
vehicles other than railway or tramway rolling stock, and parts and
accessories thereof |
99 730 |
8.0 |
1.8 |
14.7 |
4.6 |
beverages,
spirits and vinegar |
59 065 |
4.7 |
40.1 |
-10.5 |
48.9 |
pharmaceutical
products |
53 003 |
4.3 |
27.2 |
-1.5 |
10.8 |
plastics
and articles thereof |
51 309 |
4.1 |
14.8 |
-1.9 |
8.6 |
iron and
steel |
39 807 |
3.2 |
-3.3 |
5.7 |
-4.1 |
wood and wood products; wood charcoal |
38 800 |
3.1 |
14.7 |
-3.3 |
6.1 |
articles of iron or steel |
29 099 |
2.3 |
19.0 |
9.6 |
16.5 |
In September 2017,
compared to September 2016, growth in imports of mineral fuels, mineral
oils and products of their distillation was influenced by the increase of
EUR 62.5 million (7.8 times) in imports of natural gas
(gaseous).
Meanwhile, decline in the
imports of iron and steel was mainly affected by the drop of
EUR 8.3 million or 32.8% in imports of flat-rolled products of iron
or non-alloy steel.
More information on foreign
trade of Latvia in breakdown by month and quarter, as well as by country group
and commodity group is available in the CSB database section Foreign Trade.