bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Monday 18.06.2018 | Name days: Madis, Alberts
LatviaLatvia

Foreign trade turnover in Latvia up 11.5% since last year

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn September 2017 Latvian foreign trade turnover amounted to EUR 2.28 billion, which at current prices was 13.3 % more than in September 2016, of which the exports value of goods was 7.7 % and imports value of goods was 18.4 % higher.

In September, Latvia exported goods in the amount of EUR 1.03 billion, and imported goods in the amount of EUR 1.25 billion.

The foreign trade balance worsened, as exports in the total foreign trade value dropped to 45.4 % (in September 2016 – 47.7 %), according to data from the Central Statistical Bureau of Latvia.

Over the first nine months of the present year, the foreign trade turnover of Latvia at current prices reached EUR 18.63 billion – EUR 2.19 billion or 13.3 % more than in the corresponding period of 2016. The exports value constituted EUR 8.25 billion (an increase of EUR 716.0 million or 9.5 %), whereas the imports value comprised EUR 10.38 billion (an upturn of EUR 1.47 billion or 16.5 %).

Calendar and seasonally adjusted data at current prices show that, compared to September 2016, in September 2017 the exports value at current prices went up by 10.3 % and the imports value by 22.5 %, whereas, compared to the previous month, the exports value grew by 0.5 % and the imports value by 0.1 %.

Main changes in exports in September 2017, when compared to September 2016, included the following: exports of machinery and mechanical appliances; electrical equipment up by EUR 50.4 million or 32.4 %; exports of prepared foodstuffs up by EUR 20.9 million or 25.7 %; exports of base metals and articles of base metals up by EUR 15.5 million or 21.1 %; exports of mineral products up by EUR 7.0 million or 16.1 %; exports of vegetable products down by EUR 8.7 million or 7.8 %.

Main changes in imports in September 2017, when compared to September 2016, included the following: imports of mineral products up by EUR 68.2 million or 73.7 %; imports of machinery and mechanical appliances; electrical equipment up by EUR 44.8 million or 21.4 %; imports of prepared foodstuffs up by EUR 24.6 million or 25.6 %; imports of products of the chemical and allied industries up by EUR 21.9 million or 22.3 %; imports of vehicles, aircraft, vessels and associated transport equipment up by EUR 13.9 million or 12.9 %.

In September, Lithuania (with 16.2 % of the total exports), Estonia (10.6 %), Germany (7.1 %) and United Kingdom (5.1 %) were the main export partners of Latvia in trade with the EU countries, and Lithuania (with 17.2 % of the total imports), Germany (10.8 %), Poland (8.7 %) and Estonia (7.1 %) were the main import partners.

Russia was the main partner in trade with the third countries; in September, its share accounted for 8.9 % in the total Latvian exports and for 10.5 % in the total Latvian imports.

In September 2017, compared to September 2016, rise in exports of machinery and mechanical appliances was facilitated by the increase of EUR 47.7 million in exports of turbojets, turbopropellers and other gas turbines. Exports of miscellaneous grains, seeds and fruit; industrial or medicinal plants, in its turn, reduced, as the exports of rape or colza seeds dropped by EUR 12.6 million or 29.7 %.

Compared to September 2016, growth in imports of mineral fuels, mineral oils and products of their distillation was influenced by the increase of EUR 62.5 million (7.8 times) in imports of natural gas (gaseous) in September 2017. Meanwhile, decline in the imports of iron and steel was mainly affected by the drop of EUR 8.3 million or 32.8 % in imports of flat-rolled products of iron or non-alloy steel.

Ref: 224.109.109.4204


Leave a reply

Corruption watchdog requests criminal prosecution of Bank of Latvia head

Latvia’s Corruption Prevention and Combating Bureau has sent materials of a criminal case to the prosecutor’s office with a request to commence criminal prosecution of Bank of Latvia governor Ilmārs Rimšēvičs and businessman Māris Martinsons.

Riga City Council votes to add Vidzeme market to Riga Central Market’s capital

Riga City Council’s City Property Development Committee has voted in favour of adding Vidzeme Market to AS Riga Central Market’s capital. Opposition members voted against this during the meeting.

Police dismantle criminal group specialising in storage and transportation of excise goods

Officers of Latvia’s State Revenue Service discovered a suspicious shipment during a routine inspection of a vehicle at Riga Passenger Port. With help from State Police, officers found more than 2.3 million illegal cigarettes and 960 litres of spirit, as confirmed by police.

airBaltic receives its ninth Bombardier CS300 aircraft

On 17 June, Latvia’s airBaltic airline received its ninth Bombardier CS300 aircraft. The airline plans to expand its existing aircraft fleet with 14 CS300 aircraft before the end of the year.

Employment agency invites employers to apply for new job support programme

Employers will be able to apply for participation in a programme of the European Social Fund to help create subsidized jobs for unemployed people. Eighteen offices of Latvia’s State Employment Agency will be offering registration until 27 June.

Programme: government continues working on MPC plan’s cancellation

The disproportionate mandatory procurement component costs have become one of the biggest political scandals in Latvia since autumn last year. Attempts to put an end to the MPC system are continuing alongside the search of those responsible for the dysfunctional system. The government’s work group say it is impossible to completely cancel the system, as reported by Nekā Personīga programme.

De Facto: ABLV Bank’s self-liquidation – controlled or not so much?

«Controlled self-liquidation» – this is the undefined procedure Finance and Capital Market Commission has picked for ABLV Bank. This decision came after three months of document assessment, discussions with politicians and active media campaigns, as noted by De Facto journalists.

Latvia police investigate link between murdered insolvency administrator and missing businessman

Latvia’s State Police have begun an investigation of a possible link between the murdered insolvency administrator Mārtiņš Bunkus and the missing businessman Andris Bojārs, as confirmed by police representative Ilze Jurēvica.

Hundreds of migrants rejected in Italy allowed to leave ships in Spain

Migrants taken on rescue ships in the Mediterranean Sea and turned away by Italy and Malta have arrived in Spain's port of Valencia as three ships arrived in the harbour, including the Aquarius, which rescued the 630 migrants the week before.

Monday expected to be exceptionally hot in Latvia

Cool masses of air will flow into Latvia at the beginning of the week. Wind speed will increase as well. Several rain-cloud zones will pass through the country. Monday is expected to be the hottest day of this week in Latvia, as air temperature will likely reach +23° C… +26° C in most of the country. South-east regions of Latvia may even experience air temperature of +29° C.

Week in Lithuania. Lithuanian Railways joins European train system Interrail

Lithuanian state railway company Lietuvos Geležinkeliai has joined Interrail, a European train system that allows passengers to buy cheaper tickets for train travel across Europe.

Zolitūde tragedy lawyer criticises Latvian laws as favourable to insolvency administrators, not business owners

Outspoken Latvian lawyer, Aldis Gobzems, who defends in civil trials the victims of the Zolitūde supermarket collapse, where 54 people died and dozens suffered injuries, has joined the KPV LV party for the parliamentary election and is pointing to perceived political support to a few successful insolvency administrators.

Eurozone simulation with monthly billions to be quit in 2018

The European Central Bank has stated it would quit end its massive programme to stimulate the eurozone economy by buying bonds for 30 billion euros each month in December.

Human traffickers in Hungary sent to prison for 71 people dead in meat truck

For the deaths of 71 migrants, who suffocated in a sealed meat truck in Hungary in August 2015, a Hungarian court has sentenced four men to 25-year jail terms after finding them guilty of people-smuggling.

Lithuanian employers bristle against minimum wage raise to 450 euro

The disparities of the socio-economic development of the regions are very high in Lithuania, so raising the minimum wage from 400 euros now to 450 euros as suggested by the Lithuanian Government would cripple many small and medium-sized business owners in the less prosperous regions and the municipalities, Lithuanian economists caution. The minimum wage was raised in Lithuania by 20 per cent to 400 euros last year.

No-confidence vote on Latvian Justice Minister postponed to June 20

In the Latvian parliament, two motions asking for the resignation of Latvian Justice Minister Dzintars Rasnačs have been submitted and the vote is expected to take place on June 20.

Judge urges to stop testing politicians for cooperation with Soviet KGB

As Latvian politicians running in elections have to acknowledge that they have not worked for the Soviet State Security Committee during the Soviet occupation of the country, courts have since 1995 been looking into cases of possible cooperation and now, due to the lack of evidence, politicians should drop the evaluation of possible cooperation with the KGB, suggested a judge at the Riga Regional Court.

State budget income up 11% in Latvia this year

In the Latvian state budget, a total of 3.8 billion euros have been paid in the first five months of 2018, which is by 11% more than in the respective period last year, the Latvian State Revenue Service stated.

Volkswagen fined billion euros for diesel exhaust scheme

German car maker Volkswagen has been fined one billion euros by German prosecutors for its diesel emissions scandal and the car firm's management has stated it did not plan to appeal against the fine.

U.S.: Sanctions against North Korea to remain until complete denuclearisation

The U.S. has warned North Korea that it would not see any economic sanctions lifted until it has demonstrated «complete denuclearisation», according to U.S. Secretary of State Mike Pompeo.

Popular restaurant chain denies alleged tampering with cash registers

Criminal police in Latvia has conducted searches at the popular Riga restaurant chain Vairāk Saules on suspicion of alleged tampering with its cash registers.

Pigs in first swine fever-hit farm culled

As to the first case of domestic pigs in Latvia being infected with the African swine fever virus in 2018, Latvian veterinary authorities have culled 165 pigs in the affected farm in central Latvia.

Bank of Latvia head appeals against decision to remove his access to state secrets

The Bank of Latvia President, Ilmārs Rimšēvičs, who is suspected of accepting a bribe, has appealed to the Prosecutor General, Ēriks Kalnmeiers, against the decision by the Latvian Constitution Protection Bureau to remove his permit to access state secrets.

Charging electric car to cost 15 cents per minute in Latvia

As Latvia builds its network of 150 quick charging stations for electric vehicles, the Latvian government has approved the cost of the service at 15 euro cents per minute with the value added tax.

Bank watchdog allows ABLV Bank to perform voluntary liquidation

Latvian Financial and Capital Market Commission (FCMC) has decided at a board meeting to allow ABLV Bank to start its voluntary liquidation process.

Have you been offered a bribe for particular choice in election?

View Results

Loading ... Loading ...

Polls Archive



Category feed: Feed: