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Wednesday 24.01.2018 | Name days: Krišs, Eglons, Ksenija
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Latvia’s export value grows 7.1%

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn March 2016, Latvia’s foreign trade turnover at current prices increased by 9.6 %, of which exports value of goods rose by 7.1 % and imports value of goods – by 11.7 %.

In March, Latvia exported goods in the amount of EUR 833.8 million, and imported – in the amount of EUR 1 025.8 million. As exports in total foreign trade value declined to 44.8 % (in February 2016 – 45.9 %), foreign trade balance slightly worsened, according to data from the Central Statistical Bureau of Latvia.

Compared to February, the main changes in exports in March include the following: exports of products of the chemical and allied industries grew by EUR 22.1 million or 38.1 %; exports of mineral products increased by EUR 8.9 million or 25.2 %; exports of prepared foodstuffs rose by EUR 6.8 million or 11.7 %; exports of articles of stone, plaster, cement, glassware and ceramic products grew by EUR 6.4 million or 32.6 %; exports of machinery and mechanical appliances; electrical equipment decreased by EUR 2.2 million or 1.7 %;

Compared to the previous month, the main changes in imports in March include the following: imports of products of the chemical and allied industries grew by EUR 21.9 million or 18.7 %; imports of mineral products rose by EUR 17.9 million or 25.2 %; imports of machinery and mechanical appliances; electrical equipment grew by EUR 10.5 million or 5.5 %; imports of vegetable products increased by EUR 10.4 million or 22.9 %; imports of prepared foodstuffs rose by EUR 10.4 million or 13.4 %; imports of textiles and textile articles decreased by EUR 1.7 million or 3.8 %.

In March, Lithuania (with 16.4 % of total exports), Estonia (12.6 %), Germany (6.8 %) and Poland (6.3 %) were the main export partners in trade with the EU countries; in turn, Lithuania (with 16.3 % of total imports), Poland (11.4 %), Germany (10.0 %) and Estonia (8.4 %) were the main import partners of Latvia.

Russia was the main partner in trade with third countries; its share in total Latvian exports in March accounted for 6.3 %, and in imports – 8.1 %.

The rise in exports of cereals in March 2016 (as compared to March 2015) was affected by growth in exports of wheat and wheat and rye mix of EUR 10.1 million or 57.4 %. In turn, drop in exports of mobile telephones of EUR 36.0 million or 80.1 % influenced the decrease in imports of electrical machinery and equipment.

Rise in imports of wood, wood products and wood charcoal in March 2016, as compared to March 2015, was affected by the increase in imports of sawn wood of EUR 2.2 million or 26.9 %. In turn, the drop in imports of mineral fuels, mineral oils and products of their distillation was mostly influenced by decrease in imports of diesel oil of EUR 30.8 million or 47.9 %.

Ref: 102.109.109.4782


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