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Monday 24.11.2014 | Name days: Velta, Velda
LatviaLatvia

Foreign trade grows 19.3% in 2011

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RUIn November 2011, the total foreign trade turnover at current prices accounted for LVL 1 200.7 million – 4.2% or LVL 52.7 million less than a month earlier and 19.3% or LVL 194.3 million more than in November 2010, according to the Central Statistical Bureau.

As compared to the month before, export value decreased by 2.4% and import value – by 5.6% in November 2011. Dropping export was mostly affected by a decrease of LVL 20.1 million or 26.1% in export of machinery and mechanical appliances and electrical equipment as well as LVL 9.2 million or 16.3% drop in exports of mineral products. In its turn, the import decline was mostly boosted by a drop of LVL 21.7 million or 14.9% in import of mineral products and of LVL 13.9 million or 18.3% in imports of base metals as well as articles of base metals.

In January – November 2011, foreign trade turnover value hit LVL 12 429.0 million – an increase of 30.4% or LVL 2 898.9 million, as compared to the corresponding period year ago. Of which: export value comprised LVL 5 515.0 million – an increase of 29.6% or LVL 1 259.0 million, whereas import value constituted LVL 6 914.0 million – 31.1% or LVL 1 639.9 million more than a year ago.

In November 2011, the most significant share (70.9%) of Latvian exports went the countries of the European Union, followed by the CIS countries – 16.1%. The main export partners were Lithuania (17.5% of total export), Estonia (12.6%), Russia (12.0%), Germany (9.1%) and Poland (6.2%).

In November 2011, the most significant share of import came from the European Union (75.1%), followed by the CIS countries – 15.1%. The main import partners were Lithuania (18.2% of total import), Germany (12.9%), Russia (9.5%), Poland (7.5%) and Estonia (7.0%).

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