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Latvian exports of goods up 9.6% in January-August; imports grow 16.1%
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    Latvian exports of goods up 9.6% in January-August; imports grow 16.1%

    RIGA, Oct 10 (LETA) - During the first eight months of this year Latvia exported EUR 7.213 billion worth of goods, up 9.6 percent or EUR 634.6 million against the same period last year, while Latvian imports grew 16.1 percent or EUR 1.266 billion to EUR 9.118 billion, according to the latest foreign trade data released today by the Central Statistics Bureau (CSB).

    In August 2017, Latvian exports rose 11.7 percent or EUR 100.1 million from July 2017 and by 8.5 percent or EUR 75.4 million from August 2016 to EUR 958.27 million. Latvian imports, meanwhile, grew 9.1 percent or EUR 107 million from July 2017 and 21.2 percent or EUR 224.9 million from August 2016 to EUR 1.287 billion in August this year.

    At the beginning of August, Latvia’s trade gap had grown wider compared to August 2016, as the share of exports in the foreign trade balance decreased to 42.7 percent from 45.4 percent a year ago.

    In August 2017, Latvia’s main export commodities included wood and articles of wood; wood charcoal, which were exported for EUR 115.55 million, up 15.6 percent year-on-year, and accounted for 16.2 percent of total exports. Exports of electrical machinery and equipment were down 4.6 percent from August 2016 to EUR 101.593 million (10.6 percent).

    The exports of electrical machinery and equipment dropped, as the exports of monitors, projectors and television receivers decreased by EUR 9 million or 46.6 percent, the CSB said.

    Machinery and mechanical appliances dominated Latvian imports in August 2017. Imports of these goods jumped 48 percent year-on-year to EUR 145.649 million, accounting for 11.3 percent of total imports. Exports of electrical machinery and equipment were worth EUR 132.312 million (10.3 percent), up 6.3 percent year-on-year, and exports of mineral fuels, mineral oils and products of their distillation made up EUR 130.886 million (10.2 percent), up 60.8 percent from August 2016.

    In August 2017, the main export partners in trade with the EU countries were Lithuania (17.4 percent of total exports), Estonia (11.9 percent), Germany (7.4 percent) and Sweden (5.7 percent), whereas the main import partners were Lithuania (19.7 percent of total imports), Germany (10.4 percent), Poland (8.8 percent) and Estonia (7 percent).

    Russia was the main partner in trade with third countries; its share in total Latvian exports in August 2017 accounted for 10.5 percent, whereas in imports for 7.2 percent.

    • Published: 10.10.2017 14:34
    • LETA
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