Latviski English По-русски
Wednesday 25.11.2015 | Name days: Kadrija, Kate, Katrīna, Trīne

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

(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.


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

Matiss’ advisor confused – why had the minister delayed decisions in relation to airBaltic

All critical decisions in relation to Latvia’s national airline, including money flow and the attraction of an investor, had been supervised by the minister, said Kaspars Briksens, advisor of the now former Transport Minister of Latvia Anrijs Matiss.

Lithuania begins testing NordBalt power cable

This week, Lithuania plans to begin testing the NordBalt power cable, which connects the country with Sweden, as announced by Litgrid Director General Daivis Virbicks.

Officials sign contract for European funding for Rail Baltica

On Tuesday, 24 November, Innovation and Networks Executive Agency and RB Rail joint company of the three Baltic States signed a financing contract in Tallinn. This document details the allocation of European funding for Rail Baltica’s first development stage.

Number of tourists from Estonia and Lithuania increases significantly in Latvia

In Q3 2015, 543.5 thousand foreign visitors stayed in Latvian accommodation establishments, which is 3.6% more than in Q3 2014. In turn, the number of nights spent by foreign visitors in accommodation establishments dropped by 3.3%.

airBaltic passengers suffer injuries as plane enters turbulence

On 24 November, airBaltic flight BT211 between Rīga and Berlin experienced unexpected turbulence on its descent towards Tegel airport. Two passengers and one crew member were injured.

Toss in a receipt – SRS will inspect it!

Considering the recent trend among companies to meddle with electronic cash registers in Latvia, the State Revenue Service invites all residents to help combat this illegal phenomenon and shadow economy in general.

TM: Latvia is prepared to become an active member of China’s New Silk Road initiative

Latvia has expressed its readiness to coordinate transport and logistics within China’s and Central and Eastern European countries’ cooperation format 16+1 to help improve transport connectivity on the Eurasian continent.

Turkey shoots down Russian warplane on its border with Syria

Turkey's warplanes have on November 24 downed a Russian military plane in the Turkey's border with Syria – Turkish and Russian official statements indicate.

Mid-November was much rainier than usual in Latvia

The second ten-day period in Latvia turned out rather rainy – the average precipitation level was 189% of the norm, which is they highest for this period of November in the past several years.

Ukraine introduces Crimea trade boycott, peninsular hit by power blackout

Kyiv has since November 23 temporarily suspended deliveries of goods to Russia-grabbed Crimea, which has also been hit by power blackout after electricity pylons have been damaged by explosives on the Ukrainian side.

Cigarette smuggler sentenced to prison

Riga City Northern District Court has sentenced a Russian citizen to prison for smuggling a large shipment of cigarettes to Latvia.

Straujuma encourages Chinese businessmen to invest in airBaltic

During her visit to one of the biggest telecommunications exhibitions in the world – ZTE in Shanghai – Latvian Prime Minister Laimdota Straujuma invited local businessmen to strengthen cooperation with Latvia, as reported by State Chancellery’s communication department.

Latvia’s number of HIV-infected children is critically high; Cuba – story of success

Cuba has recently become the first country in the world where, according to information from the World Health Organization, the possibility of HIV transmission from mother to child has been excluded completely.

Snow to be replaced by thaw in Latvia

On Sunday, 22 November, air temperature was below 0° C across most of Latvia. Meteorological winter has come to Latvia. It complies with the annual norm because climatic data analysis shows that it is usual for winter weather to come to Latvia around 25 November.

Latvian in Brussels: everyone’s hiding in their homes

Brussels is a ghost city at the moment – people are waiting for the current situation to be resolved by authorities, as the situation is described by European Commission trainee Maija Locane.

Industrial producer prices down 2.1% in Latvia

Compared to September, the level of producer prices in Latvia’s industry had dropped by 0.6% in October 2015.

Security experts: internet fraudsters are becoming more and more creative

Phishing attacks and massive SPAM volumes have long since become a usual thing. It would seem such Internet frauds are easily recognizable. However, according to data from eScan anti-virus solution, Internet fraudsters are becoming more and more creative.

Melnā Kafija: businessmen are considered criminal frauds, not honest taxpayers

Businessmen are largely considered criminal frauds, not honest taxpayers. Until businessmen manage to prove the opposite, this belief stands. At the same time, however, some of the largest corruption scandals take place in the government sector. Officials do not even consider the possibility of exacting structural changes there in order to save resources, Director General of Melnā Kafija Martins Cakste told BNN.

Islamic State expansively uses Latvian resource

Europeans most often become supporters of the Islamic State through communication over the Internet. Having surveyed terrorism threats, Latvian Security Police mentions the risk of being subjected to IS propaganda on the Internet.

16 arrested in Belgium's anti-terror surge

Police in Belgium have arrested 16 people in anti-terrorism raids, however, alleged Paris terrorist Salah Abdeslam still has not been caught.

Week in Lithuania. Lithuania to allow dual citizenship for Lithuanians born abroad

Seimas has endorsed a bill allowing Lithuanians who are born abroad to retain dual citizenship. The amendment to the Law on Citizenship was passed by a vote of 88 against one, with one abstention. President Dalia Grybauskaitė still has to sign it into law.

Economic Diary of Latvia. Two sides of the same coin

Although entrepreneurs and foreign investors alike have mentioned the unpredictable nature of the country’s tax policy countless times, ministers pretend to have heard nothing. This week, for example, minister once again began reviewing the rules for micro-enterprises.

Schengen border control to be increased

On Friday, 20 November, member states of the European Union agreed to increase border control in relation to all people travelling to and from the Schengen zone, sources say.

Terrorists take 170 hostages in Mali; casualties confirmed

At the moment, Latvian Foreign Ministry has no information regarding any Latvian citizens staying in Mali, where Islamic terrorists have broken into Radisson Blu hotel and have taken many people hostage. Casualties have been confirmed as well.

Emerging Baltic entrepreneurs start their business using their own money

Most emerging entrepreneurs in Latvia, Lithuania and Estonia have opened their business using their personal savings, according to results of a survey carried out by SEB Bank in Baltic States.

Newest comments