RIGA, Feb 9 (LETA) - Latvia exported EUR 11.392 billion worth of goods in 2017, up 10 percent or EUR 1.034 billion against 2016, while Latvian imports grew 14.5 percent or EUR 1.781 billion to EUR 14.03 billion last year, according to the latest foreign trade data released today by the Central Statistical Bureau.As a result, Latvia’s foreign trade turnover grew 12.4 percent or EUR 2.81 billion from 2016 to EUR 25.42 billion at current prices in 2017. In December 2017, Latvian exports dropped 13.6 percent from November 2017 but rose 7.3 percent against December 2016 to EUR 951.864 million. Imports declined 1 percent from November 2017 and rose 6.4 percent against December 2016 to EUR 1.19 billion in December 2017.Compared to December 2016, Latvia’s foreign trade balance improved somewhat as the share of exports increased from 44.2 percent to 44.4 percent. In December 2017, Latvia timber, timber products and coal were exported for EUR 140.695 million or 14.8 percent of total exports, down 21.1 percent from November 2017 and 2.6 percent from December 2018. Exports of electric appliances and equipment accounted for EUR 104.074 million or 10.9 percent of total exports, down 5.1 percent month-on-month and down 1.7 percent year-on-year. Machinery and mechanical appliances were exported at EUR 71.154 million or 7.5 percent of total exports, up 30.1 percent from Novemer 2017, and 12.3 percent more than in December 2016.Machinery and mechanical appliances dominated Latvian imports in December 2017 as these products were imported for EUR 153.197 million (12.9 percent of total imports) during the month, which is 19.5 percent more than in November 2017 and 38.3 percent more than in December 2016. Imports of electrical machinery and equipment (11.8 percent) declined 4 percent month-on-month and grew 6.3 percent year-on-year to EUR 140.827 million in December 2017. Imports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof rose 4.7 percent month-on-month and 11.7 percent year-on-year to EUR 113.932 million (9.6 percent).Representatives of the CSB noted that the rise in the imports of machinery and mechanical appliances in December 2017, as compared to December 2016, was driven by an increase in the imports of turbojets, turbo-propellers and other gas turbines by EUR 30.4 million. In December 2017, Latvia key export partners in the European Union (EU) included Lithuania (17.6 percent of total exports), Estonia (11.5 percent), Germany (7.2 percent) and Sweden (5.6 percent), while the main import partners were Lithuania (17.4 percent of total imports), Germany (11.4 percent), Poland (8.7 percent) and Estonia (8.3 percent).Russia was Latvia’s main trade partner outside the EU, accounting for 10.7 percent of Latvian exports and 8.2 percent of imports in December 2017.
Published: 09.02.2018 14:15