bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Saturday 25.03.2017 | Name days: Māra, Marita, Mārīte
LatviaLatvia

Exports of goods on a rise in Latvia; imports continue to decline

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn the first half of this year Latvia exported goods in amount of 4.8 billion euros, but imported – in amount of 6.0 billion euros. In the first half of this year the volume of goods exported at current prices increased by 74.5 million euros or 1.6%, but volume of imports reduced by 55.0 million euros or 0.9% as compared to the first half of previous year.

In the result foreign trade balance of goods in the first half of 2014 has improved slightly – share of exports in total foreign trade value has reached 44.5%. In the corresponding period of 2013 it was 43.9%, according to provisional data of the Central Statistical Bureau of Latvia.

Excluding impact of price changes, in the first six months of this year exports volume at constant prices grew by 3.4%, but imports volume reduced by 0.1%. Grouping exporters and importers of goods by their main economic activity, information on how many goods are imported or exported by enterprises belonging to certain sector can be obtained.

In the first half of 2014 the largest amount of goods – two fifths of the total value of exports – was exported by enterprises whose main activity is wholesale and retail trade. Compared to the corresponding period of the previous year exports of these enterprises rose by 3.5 million euros or 0.2%.At the same time exports of enterprises of the second largest sector – manufacturing (almost two fifths of the total value of exports) reduced by 127.0 million euros or 6.3%.

Also in imports the largest amount of goods – three fifths of the total value of imports –was imported by enterprises whose main activity is wholesale and retail trade. However, compared to the first six months of 2013, amount of goods imported by these enterprises shrank by 52.6 million euros or 1.4%.

Growth both of exports and imports was observed in enterprises of the construction sector – in exports by 9.9 million euros or 27.3% and imports – 10.2 million euros or 14.2%.

Statistical data grouped on foreign trade accordingly final consumption of goods show that in the first six months of the year, compared to the first half of 2013, exports of capital goods has reduced by 1.7%, but imports – by 8.2%. Share of these goods in exports comprised 11.2%, but in imports – 12.2%. Capital goods consist of fixed assets, raw materials and other materials foreseen for the further processing.

Ref: 102.109.109.6377


Leave a reply

  1. mike walsh says:

    Someone with brains at last: The authorities of the Czech Republic, Slovakia and Hungary urged to lift the sanctions that are applied against the interests of the European Union and cause more damage to Europe than Russia. Hungarian Prime Minister Viktor Orban said that Western sanctions, which automatically led to a response from Russia, Europe cause more damage than the Russian Federation.

    “We are harming ourselves. I never thought that sanctions can be an effective tool in solving political problems. I will do everything possible in order to change the current sanctions regime with the EU.

    This policy was ill-conceived “- said Orban. Prime Minister Robert Fico also said that Slovakia does not want to be held hostage by the Russian-Ukrainian conflict and can not sacrifice their interests for the sake of someone’s confrontation with Russia, and added that the EU sanctions and Russia are meaningless for both sides and will to a weakening of the European Union.

    Thumb up 0 Thumb down 0

BNN summary of the week: 5G in Latvia, fight against Lembergs, foreign trade balance deficit

BNN offers a summary of this week’s topical news in a variety of categories: Change; Business; Fight; Decline and Growth.

CC: restoration of trust – way out for cartel participants

This year, Competition Council provided positive conclusion in regards to recovery of trust to two companies previously punished for cartel agreement.

Kristovskis: coalition with Lembergs in Ventspils City Council is not possible

«If the party’s list enters the city council, our candidates will definitely not work with Lembergs,» said Girts Valdis Kristovskis in an interview to Latvijas Radio.

Sadales tīkls: energy industry enjoys stable growth in Baltics

Although the company does not experience the lack of quality labour force, when announcing vacancies it becomes clear that population density in regions continues to decline, and this makes it harder to find young specialists for work in regions, said Andis Pinkulis, CEO of Sadales tīkls, in an interview to BNN.

Airline Nordica not to ban tablets and lap-tops from being brought on passenger cabin

Estonia’s national airline Nordica has stated it would not follow the recent U.S. and British ban on such computer devices as tablets and lap-tops from being brought onto passenger cabin on flights.

Rinkevics invites Canadian companies to use Latvia’s transit and logistics infrastructure

«We’re hoping for more intensive economic cooperation and diversification of exports of Latvian goods, as well as attraction of investments from Canada. Canadian investors are awaited in Latvia,» says Latvian Foreign Affairs Minister Edgars Rinkevics.

Rimsevics: tax changes may increase lending volumes in Latvia

Lending volumes in Latvia may increase because of changes to the country’s tax system, says governor of the Bank of Latvia Ilmars Rimsevics.

Latvian authorities deport 19 Vietnamese citizens

19 Vietnamese citizens caught trying to cross the border of the Republic of Latvia last year have been deported from the country.

Latvia’s export and import volume was the lowest in January

Latvia’s export and import volume this January was below what was noted in Lithuania and Estonia. The largest foreign trade balance deficit among Baltic States was noted in Estonia.

Lithuanian population continues to shrink, some glint may be ahead

The shrinkage of Lithuanian population is nowhere close to a halt. In fact, the recent numbers by the Lithuanian Statistics and Eurostat, the European Union‘s statistics agency, purport the opposite: exodus has picked up last year - 50,000 Lithuanian citizens left the country for a better life abroad, up from 44,500 in the previous year.

Over 200 people could have died in Mediterranean

It is assumed that over 200 migrants might have drowned this week in the Mediterranean, off the coast of Libya, a Spanish humanitarian aid organisation feared.

Proportion of HIV-infected tuberculosis patients in Latvia is 17.4% - the highest in EU

The proportion of HIV-infected tuberculosis patients in Latvia is 17.4%, which is the highest not only among Baltic States, but also Europe, as mentioned by Jurijs Perescikovs, director of Disease Prevention and Control Centre’s Infection Risk Analysis Department in a discussion dedicated to the World Tuberculosis Day.

British police names London terrorist

British police has stated that the March 22 terror attack in London was committed by British-born Khalid Masood. Another of his victims has died.

Air temperature in Latvia to remain largely unchanged in coming days

On Friday, 24 March, high atmospheric pressure will remain in the country. Because of that, some clouds will be seen in the sky, wind speed will stay moderate, and air temperature will rise to +3° C…+8° C, as reported by the State Environmental, Geology and Meteorology Centre.

Kucinskis hopes to find a new director for State Chancellery within two weeks

Latvian Prime Minister Maris Kucinskis hopes to find a new manager for the State Chancellery within the next two weeks.

InnoEnergy business opens an office in Latvia

International business accelerator company InnoEnergy has opened an office in Latvia. This objective of this company is preparing new and innovative technologies developers for attraction of investments as part of InnoEnergy accelerator.

Bank of Latvia increases inflation outlook for 2017 to 2.7%

The Bank of Latvia has increased its inflation outlook for 2017 from 1.6% to 2.7%, as reported by the bank’s press-service.

CC permits Lithuanian company to acquire decisive influence over Latvian businesses

Latvia’s Competition Council has permitted two mutually associated deals to be performed by W.P.Carey and Kesko, allowing the two concerns to acquire decisive influence over Lithuanian Baltic Retail Properties and three companies registered in Latvia – K Prof, Polo LS and Daugavkrasts M.

Estonian military transport firm co-operates with leading Norwegian and British companies

Estonian military transport manufacturer Milrem has made a joint product with Norwegian weapon-maker Kongsberg and British remote system producer Qinetiq North America.

Welfare Ministry opposes diverting part of social budget to healthcare

Experts view Finance Ministry’s proposal to divert certain parts of the social budget to pay for certain healthcare services. Welfare Ministry is especially cautious about this proposal.

Saeima agrees to publish names of disciplinary punished judges

Publication of information about disciplinary penalties applied to judges, their names and surnames will no longer be prohibited, as stated by amendments to the Judicial Disciplinary Liability Law supported by the Saeima in the first reading on Thursday, 23 March.

Experts: internet users open up 30% of fraudulent e-mail letters

Cyber criminals are becoming more and more cunning and their fraudulent e-mails – harder and harder to differentiate from real ones. Internet users open up to 30% of fraudulent e-mail letters, explains eScan antivirus developers.

Minister: Latvia supports International Coalition’s fight against Daesh

«The fight of the International Coalition against Daesh has become a very effective instrument to help reduce Daesh military, financial and recruitment capabilities,» said Latvian Foreign Affairs Minister Edgars Rinkevics.

New pulp factory planned in Estonia

Estonian entrepreneurs have envisaged building a high-tech pulp-making plant near the city of Tartu and have submitted the plan for confirmation from Estonian national special planning authorities.

Ventspils Freeport Authority announces procurement

Procurement has been announced for the construction of an access road in Ventspils, Talsu Street 200 and landscaping of nearby territories so that one of the land tenants can commence construction of their building there, as reported by Ventspils Freeport.