Analytics, Foreign trade , Good for Business, Latvia, Statistics
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 15:11
June, foreign trade turnover in goods in Latvia was 9.1% higher than in 2017 i
In June,
Latvia exported goods in the amount of EUR 1.03 bln and imported in the amount
of EUR 1.33 bln. Compared to the June 2017, foreign trade balance improved
slightly, as exports in the total foreign trade amount rose from 43.1% to 43.7%.
During the
first half of this year, Latvian foreign trade turnover at current prices
reached EUR 13.14 bln – EUR 1.06 mln or 8.7% more than in
the corresponding period of 2017. Exports value constituted EUR 5.96 bln
(rise of EUR 524.6 mln or 9.7%), while imports value
EUR 7.18 bln (increase of EUR 531.7 mln or 8.0%).
Calendar
and seasonally adjusted data at current prices show that, compared to
June 2017, in June 2018 exports value went up by 11.2% and imports
value by 7.7%, whereas, compared to the previous month, exports value increased
by 1.5%, and imports value by 6.6%.
Main
changes in exports in June 2018, compared to June 2017:
- exports of vegetable products
up by EUR 39.2 mln or 2.2 times;
- exports of wood and articles of
wood up by EUR 27.5 mln or 17.0%,
- exports of machinery and
mechanical appliances; electrical equipment up by EU 13.4 mln or
7.5%;
- exports of the chemical and
allied industries up by EUR 10.3 mln or 14.2%;
- exports of live animals; animal
products down by EUR 2.4 mln or 5.3%.
Main
changes in imports in June 2018, compared to June 2017:
- imports of machinery and
mechanical appliances; electrical equipment up by EUR 60.2 mln or
24.1%;
- imports of the chemical and
allied industries up by EUR 18.1 mln or 15.7%;
- imports of wood and articles of
wood up by EUR 16.1 mln or 43.8%;
- imports of vegetable products
up by EUR 10.9 mln or 28.3%;
- imports of mineral products
down by EUR 5.9 mln or 5.3%.
In June,
Lithuania (15.5% of the total exports), Estonia (11.4%), Sweden (6.7%) and
Germany (6.4%) were the main export partners of Latvia in trade with the EU
countries, whereas Lithuania (17.1% of the total imports), Germany (10.4%),
Poland (9.6%) and Estonia (7.8%) were the main import partners.
Russia was
the main partner in trade with third countries; in June its share in the total
Latvian exports accounted for 9.0% and in imports for 5.1%.
Foreign trade of Latvia in June 2018 by country group
(at current prices)
| Exports | Imports | ||||
| million euros | % of total | changes as %, compared to June 2017 | million euros | % of total | changes as %, compared to June 2017 |
Total | 1 033.8 | 100 | 10.7 | 1 331.5 | 100 | 7.9 |
European Union countries | 708.9 | 68.6 | 9.5 | 977.9 | 73.4 | 4.4 |
euro area countries | 477.8 | 46.2 | 8.2 | 727.6 | 54.6 | 4.2 |
CIS countries | 132.6 | 12.8 | 7.7 | 112.1 | 8.4 | -5.0 |
other countries | 192.3 | 18.6 | 18.0 | 241.5 | 18.2 | 34.2 |
Rapid growth in exports of cereals in June 2018, compared
to June of the previous year, was mostly influenced by the increase in exports
of wheat and meslin of EUR 19.7 mln or 2.8 times. Exports of
electrical machinery and equipment fell as exports of telephones for cellular
networks dropped by EUR 28.5 mln or 61.6%.
| thousand euros | % of total | Changes as %, compared to | ||
June 2017 | May 2018 | average of previous 12 months | |||
Total | 1 033 752 | 100 | 10.7 | -1.3 | 4.0 |
wood and articles of wood; wood charcoal | 188 648 | 18.2 | 17.0 | -4.6 | 13.6 |
machinery and mechanical appliances | 96 159 | 9.3 | 52.4 | -0.5 | 26.8 |
electrical machinery and equipment | 94 874 | 9.2 | -17.2 | -2.7 | -8.9 |
vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 55 041 | 5.3 | 11.5 | -7.3 | -0.7 |
cereals | 45 167 | 4.4 | 3.4 times | 4.1 times | 28.4 |
beverages, spirits and vinegar | 43 980 | 4.3 | 1.2 | -20.0 | -15.6 |
iron and steel | 43 752 | 4.2 | 0.1 | -13.5 | 11.7 |
pharmaceutical products | 42 042 | 4.1 | 8.8 | 29.3 | 18.3 |
mineral fuels, mineral oils and products of their distillation | 41 495 | 4.0 | 11.7 | 0.4 | 1.1 |
articles of iron or steel | 34 936 | 3.4 | 8.9 | 0.2 | 6.7 |
In June 2018, compared to June 2017, the rise in
imports of machinery and mechanical appliances; electrical equipment was
influenced by the increase in imports of turbojets, turbopropellers and other
gas turbines – of EUR 62.9 mln. At the same time, the decline in imports
of electrical machinery and equipment was mainly affected by the drop in
imports of telephones for cellular networks – of EUR 27.1 mln or 53.0%.
Main commodities in imports of Latvia in June 2018
(at current prices)
| thousand euros | % of total | Changes as %, compared to | ||
June 2017 | May 2018 | average of previous 12 months | |||
Total | 1 331 462 | 100 | 7.9 | 4.2 | 10.4 |
machinery and mechanical appliances | 193 618 | 14.5 | 71.4 | 0.6 | 42.9 |
electrical machinery and equipment | 116 311 | 8.7 | -14.9 | -2.2 | -11.1 |
vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 114 019 | 8.6 | 8.5 | 6.7 | 9.5 |
mineral fuels, mineral oils and products of their distillation | 97 699 | 7.3 | -7.3 | 4.7 | -4.7 |
pharmaceutical products | 59 603 | 4.5 | 11.8 | 16.6 | 19.1 |
plastics and articles thereof | 57 817 | 4.3 | 8.0 | 2.4 | 13.0 |
beverages, spirits and vinegar | 57 409 | 4.3 | 21.2 | -3.1 | 19.4 |
wood and articles of wood; wood charcoal | 52 479 | 3.9 | 44.1 | -3.4 | 26.1 |
iron and steel | 50 579 | 3.8 | -6.9 | -17.4 | 1.6 |
articles of iron or steel | 34 454 | 2.6 | 19.8 | 4.8 | 18.3 |