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Sunday 23.07.2017 | Name days: Magda, Magone, Mērija
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Economist: export fluctuations continue

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUExport dynamics remain very fluctuating. This situation will likely remain for the next several months in Latvia, believes Swedbank economist Lija Strasuna.

She notes that export growth will be supported by good grain harvests this autumn. In addition, export growth is also expected both in the second half of the year and the year in general.

«Import fluctuations will continue as well, but we can see growth there, too. In July, it was based on machines and equipment. This lets us hope that growth of investments and imports of pharmaceutical products will continue,» – added Strasuna.

The economist notes that July’s exports of goods were only 0.4% larger than one year prior. Export growth was largely due to exports of machinery and equipment, pharmaceutical products and food products.

Growth of food product exports has been noted for the first time since October 2014. It was mostly based on rising exports of grains and flour, fruits and nuts, vegetables and fish.

Milk and dairy products exports remain lower than it was one year ago even though there was a slight increase in the last couple of months. At the same time, export growth was delayed by slow exports of transport and mineral products and smaller exports of wooden products in July.

Exports to Russia dropped 17% in July as compared with the same period of 2014. Exports to other CIS countries were 19% higher than one year ago, but the situation is different for each country (exports have risen to countries like Turkmenistan, Uzbekistan and Ukraine, but have decreased for Belarus and Kazakhstan). Exports to Eurozone countries were mostly on the level of 2014. There was a slight decrease (6%) in exports to European countries outside Eurozone, however, commented Strasuna.

Ref: 103.109.109.6792


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