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Latvian exports of goods up 9.4% in eight months; imports rise 10.1%
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    Latvian exports of goods up 9.4% in eight months; imports rise 10.1%

    RIGA, Oct 10 (LETA) - During the first eight months of this year Latvia exported EUR 9.4 billion worth of goods, up 9.4 percent or EUR 687.6 million against the same period last year, while Latvian imports grew 10.1 percent or EUR 924.4 million to EUR 10.052 billion, according to the latest foreign trade data released today by the Central Statistical Bureau.

    In August, Latvia exported EUR 1.078 billion worth of goods, up 13.5 percent or EUR 128.5 billion from July and up 7.8 percent or EUR 77.8 million against August 2017.

    Latvian imports, meanwhile, grew 8.7 percent or EUR 117.9 million month-on-month and 14 percent or EUR 181.1 million year-on-year in August.

    Latvia’s foreign trade balance deteriorated in August as the share of exports contracted from 43.6 percent in August 2017 to 42.3 percent in August 2018.

    In August 2018, Latvian timber, timber product and charcoal exports accounted for EUR 204.346 million or 18.9 percent of total exports, rising 8.8 percent from July 2018 and growing 30.9 percent against August 2017. Exports of electric appliances and equipment rose 11.6 percent month-on-month but dropped 0.9 percent year-on-year to EUR 106.3 million in August 2018. Exports of machinery and mechanical appliances accounted for EUR 101.221 million or 9.4 percent of total exports, up 37.4 percent month-on-month and a 15.6 percent rise year-on-year.

    Machinery and mechanical appliances prevailed in Latvian imports in August 2018, accounting for EUR 235.759 million or 16 percent of total imports and growing 2.1 times from July and rising 81.9 percent from August 2017. Imports of machinery and mechanical appliances made up EUR 147.006 million or 10 percent of total imports, down 20.9 percent from July 2018 and down 0.7 percent year-on-year. Imports of electric equipment and appliances dropped 4.5 percent month-on-month and grew 0.8 percent year-on-year to EUR 131.949 million.

    In August, the main export partners of Latvia in trade with EU countries were Lithuania (15.3 percent of total exports), Estonia (11.9 percent), Sweden (8.0 percent) and Germany (7.2 percent), whereas the main import partners were Lithuania (18.9 percent of total imports), Germany (8.6 percent), Poland (8.5 percent) and Estonia (6.9 percent).

    Russia was the main partner in trade with third countries; its share in total Latvian exports in August accounted for 9.4 percent, whereas in imports – for 12.3 percent.

    • Published: 10.10.2018 14:21
    • LETA
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