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Wednesday 21.03.2018 | Name days: Una, Unigunde, Dzelme, Benedikts

Foreign trade volume grows 28.2% last year

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

The total Latvian foreign trade volume at actual prices reached 13 599.3 million lats in 2011 – by 2 992.5 million lats or 28.2% more than in 2010.

The export volume increased by 1 317.1 million lats or 28.1%, and the import – by 1 675.4 million lats or 28.3%, the operational data of the Central Statistics Bureau indicate.

Last year a little decrease in the foreign trade balance was observed along with the fall in the export proportion in the overall foreign trade volume to 44.2% (44.3% in 2010).

In 2011, compared to 2010, as a result of price changes the export  volume at comparable prices increased by 14.2% and the import – by 21.0%.

In the last year, compared to 2010, according to the BEC classification, the amount of capital goods in the export of goods at actual prices increased by 17.5%, the amount of intermediate goods – by 23.8%, and the amount of consumption goods – by 18.2%. But in the import of goods growth in the said categories was accordingly 34.9%, 30.6% and 7.6%.

In compliance with the BEC classification, exported and imported goods can be classified according to the possible way of use. Capital goods are fixed assets, intermediate goods – raw materials and other materials for future processing. Consumption goods are goods for needs of residents. Other goods which are not included in the said categories (for example, army equipment and other specific goods) are included in the category of other goods.


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