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Latvian exports of goods rise 7.2%, imports up 10.1% in 2018
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    Latvian exports of goods rise 7.2%, imports up 10.1% in 2018

    RIGA, Feb 12 (LETA) - In 2018, Latvia exported EUR 12.341 billion worth of goods, up 7.2 percent against a year before, while imports rose 10.1 percent year-on-year to EUR 15.461 billion, according to the data released today by the Central Statistical Bureau (CSB).

    Latvia’s foreign trade turnover rose by 8.8 percent or EUR 2.25 billion from 2017 to EUR 27.8 billion at current prices in 2018.

    In December 2018, Latvia exported EUR 943.671 million worth of goods, down 19.2 percent from November 2018 and down 1.3 percent from December 2017. Latvian imports dropped 7.5 percent month-on-month and rose 0.3 percent year-on-year to EUR 1.203 billion in December 2018.

    Latvia’s foreign trade balance in December 2018 deteriorated from December 2017 as the share of exports decreased from 44.4 percent to 44 percent.

    In December 2018, Latvian timber, timber product and charcoal exports accounted for EUR 168.698 million or 17.9 percent of total exports, dropping 15.6 percent from November 2018 and growing 17 percent against December 2017. Exports of electric appliances and equipment declined 13.1 percent month-on-month and rose 1.1 percent year-on-year to EUR 106.743 million in December 2018 (11.3 percent of total exports). Exports of machinery and mechanical appliances accounted for EUR 56.481 million or 6 percent of total exports, down 39.9 percent month-on-month and down 21.8 percent year-on-year.

    Machinery and mechanical appliances dominated Latvian imports, as they accounted for EUR 145.109 million (12.1 percent of total imports) in December 2018, rising 4.1 percent against November 2018 and dropping 6.6 percent from December 2017. Electronic and electrical appliances followed with EUR 121.76 million (10.1 percent), down 16.3 percent month-on-month and down 14.7 percent year-on-year. Imports of transport vehicles and their parts rose 4.9 percent from November 2018 and 1 percent from December 2017 to EUR 108.157 million in December 2018.

    In December, the main export partners of Latvia in trade with EU countries were Lithuania (16 percent of total exports), Estonia (12.2 percent), Sweden (7 percent) and Denmark (5.7 percent), whereas the main import partners were Lithuania (16 percent of total imports), Germany (10.9 percent), Poland (9 percent) and Estonia (7.8 percent).

    Russia was the main partner in trade with third countries; its share in total Latvian exports in December accounted for 10.6 percent, whereas in imports – for 8.4 percent.

    • Published: 12.02.2019 14:07
    • LETA
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