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Friday 30.09.2016 | Name days: Menarda, Elma, Elna
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Exports and imports value decreases in Latvia

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to June, Latvian foreign trade turnover at current prices decreased by 2.0 % in July 2016. Exports value of goods dropped by 3.0 % and the imports value fell by 1.1 %.

In July, Latvia exported goods in the amount of EUR 790.6 million, and imported goods in the amount of EUR 973.5 million. The foreign trade balance worsened, as exports in the total foreign trade value dropped to 44.8 % (in June 2016 – 45.3 %).

Main changes in exports in July, compared to June, included the following: exports of wood and articles of wood reduced by EUR 14.8 million or 10.2 %; exports of basic metals and articles of basic metals dropped by EUR 10.6 million or 15.1 %; exports of prepared foodstuffs fell by EUR 10.6 million or 15.0 %; exports of vegetable products decreased by EUR 8.2 million or 30.4 %; exports of vehicles and associated transport equipment increased by EUR 29.8 million or 54.2 %.

Main changes in imports in July, compared to June, included the following: imports of vehicles and associated transport equipment dropped by EUR 20.4 million or 19.0 %; imports of mineral products decreased by EUR 8.6 million or 8.9 %; imports of basic metals and articles of basic metals fell by 6.9 million euros or 8.9 %; imports of machinery and mechanical appliances; electrical equipment grew by EUR 6.6 million or 3.2 %; imports of plastics and articles thereof, rubber and articles thereof grew by EUR 3.8 million or 7.1 %.

In July, the main export partners in trade with the EU countries were Lithuania (17.6 % of total exports), Estonia (12.5 %), Germany (6.9 %) and the United Kingdom (5.8 %), whereas the main import partners were Lithuania (17.5 % of total imports), Germany (11.9 %), Poland (11.8 %) and Estonia (8.4 %).

Russia was the main partner in trade with third countries; its share in total Latvian exports in July accounted for 7.8 %, whereas in imports – for 6.7 %.

The rise in exports of ships, boats and floating structures in July 2016, as compared to July 2015, was mainly influenced by the increase in exports of yachts and other vessels for pleasure or sports; rowing boats and canoes by EUR 39.2 million.

In turn, exports of beverages, spirits and vinegar reduced, as exports of spirits dropped by EUR 9.7 million or 39.5 %.The rise in imports of wood and wood products; wood charcoal in July 2016, as compared to July 2015, was affected by the increase in imports of particle boards by EUR 1.2 million or 2.4 times. In turn, a decline in the imports of semi-finished products of iron or non-alloy steel of EUR 10.1 million or of 99.6 % had the most significant effect on the imports of iron and steel.

Ref: 102.109.109.9712


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