bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Monday 19.02.2018 | Name days: Zane, Zuzanna
LatviaLatvia

Latvia’s external trade goes down 14.4%

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn January 2016, foreign trade turnover at current prices dropped by 14.4%, of which exports value of goods fell by 13.0% and imports value of goods – by 15.6% as compared to December 2015.

In January, Latvia exported goods in the amount of EUR 711.0 million, but imported – in the amount of EUR 820.8 million. As exports in the total foreign trade went up to 46.4% (45.7%in December 2015), foreign trade balance increased, according to data from the Central Statistical Bureau of Latvia.

Main changes in exports in January, compared to December: exports of prepared foodstuffs dropped by EUR 34.3 million or 40.5%; exports of machinery and mechanical appliances; electrical equipment fell by EUR 26.0 million or 19.2%; exports of vegetable products dropped by EUR 18.2 million or 22.1%; imports of optical instruments and apparatus (including medical); clocks and watches, musical instruments decreased by EUR 12.1 million or 51.7%; exports of wood and articles of wood grew by EUR 6.5 million or 5.0 %.

The main changes in imports in January (compared to December) included the following: exports of machinery and mechanical appliances; electrical equipment fell by EUR 39.8 million or 19.2%; imports of vehicles and associated transport equipment declined by EUR 27.4 million or 33.0%; imports of prepared foodstuffs reduced by EUR 22.5 million or 25.6%; imports of vegetable products reduced by EUR 10.3 million or 22.7%; imports of footwear and haberdashery grew by EUR 2.7 million or 55.2%.

In January, the main export partners in trade with the EU countries included the following: Lithuania (16.9 % of total exports), Estonia (12.8%), Germany (8.1%), and Sweden (6.3%). Whereas the main import partners were: Lithuania (17.0% of total imports), Germany (10.4%), Poland (9.8%), and Estonia (8.2%).

Reduction in exports was mainly affected by the drop in trade with third countries, among which Russia was the main partner. In January, the share of Russia in the total exports of Latvia fell down to 5.2% (in December 2015 – 9.7%), and the most notable decrease was recorded in exports of spirits – of EUR 15.5 million or 70.4%. Meanwhile, Russia’s share in imports rose up to 12.5% (in December 2015 – 10.6%), as imports of natural gas in the gaseous state rose significantly – by EUR 11.1 million or 28.2 %.

Compared to January 2015, in January 2016 the rise in exports of cereals was affected by the increase in exports of wheat and wheat and rye mix of EUR 27.3 million or 3.1 times. Whereas, due to the EUR 26.2 million or 96.4% drop in exports of waste and scrap of cast iron, exports of iron and steel reduced.

Ref: 102.109.109.8953


Leave a reply

Week in Lithuania. Lithuania celebrating centennial of statehood

Leaders of European countries gathered in Vilnius on Friday, February 16, to celebrate the 100-year anniversary of restored statehood, and festive events were taking place in many cities and towns of Lithuania.

BNN summary of the week: minister threatened with dismissal; ABLV Bank scandal

BNN offers a summary of this week’s topical news in a variety of categories: Change; Fight; Court; Problem; Decline; Commentary; Future; Proposal

SRS uncovered violations in 169 inspections at catering companies last year

In 2017, the State Revenue Service (SRS) performed a total of 989 inspections at 212 catering companies. This includes 182 thematic inspections for 125 taxpayers. Violations were uncovered in 169 inspections. The most common violation was manipulation with cash registers, according to information published by SRS.

Russian tourists often decide to celebrate International Women’s Day in Riga

To satisfy growing demand for bus tickets from Russia to Latvia for the week when 8 March is celebrated, Lux Express plans to organize additional buses between St Petersburg and Riga.

FCMC to investigate ABLV Bank again; no operational restrictions applied to the bank

Latvia’s Finance and Capital Market Commission (FCMC) has plans to perform an additional investigation at ABLV Bank in the next couple of weeks, says the commission’s manager Pēters Putniņš, adding that no operational restrictions have been applied to the bank so far.

Study: overall sense of happiness in Latvia is record-low

60% of Latvian residents feel happy. Although this is a good index, there has been a general decline of the sense of happiness, according to a study performed by Amigo mobile network operator and SKDS to assess the level of happiness of Latvian residents.

Raid reveals some taxi drivers in Riga do not have valid driver’s license

A raid was performed by the State Revenue Service and Riga Municipal Police to check taxi service providers in the capital. Authorities uncovered a total of 81 violations in 48 cases, BNN was informed by SRS.

Estonia sea ice crash: last missing body found

Nine days after a van with six people inside drove onto the ice of the Baltic Sea in south-western Estonia, the body of the last victim has been found.

Delna invites immediate investigation of claims about ABLV Bank’s money laundering schemes

The decision by US Finance Ministry’s Financial Crimes Enforcement Network (FinCEN) to apply sanctions against ABLV Bank for involvement in money laundering schemes and bribery of officials was not a surprise. It is a sign for acute need to continue improving investigative and supervisory institutions’ ability to prevent money laundering through Latvia, as noted by Delna – Society for Openness.

Estonian income tax should be simplified, parties believe

The existing income tax scheme in Estonia should be simplified, three parties in the Estonian Riigikogu find, but there are differences in opinion as to maintaining the current state budget income. Meanwhile, the opposition Reform Party has voiced backing for an annual tax-free income of 6,000 a year to every earner.

Baltics propose increasing member states’ contributions to EU budget after Brexit

Latvia, Lithuania and Estonia invite European Union member states to increase contributions to the EU budget after 2020 in order to make sure available funds do not drop after UK’s exit.

Instagram obeys Russian internet censor to block content on corruption allegations

In the atmosphere of the March Russian presidential election, social network Instagram has submitted to the demands of Russia's internet censorship body and blocked in the country content with corruption claims voiced by Russian opposition figure Alexei Navalny.

Teenager charged with U.S. school shooting has confessed

A day after a tragic school shooting in Florida, the U.S., where 17 people have been killed, the suspect 19-year-old Nicolas Cruz has confessed to police.

Snowfall expected for weekends in Latvia; sky to become clear again next week

On Friday, 16 February, weather in Latvia will be dictated by a small cyclone, which will approach the country from Sweden. Because of that, the sky will be cloudy and snowfall will come to many areas. The cyclone will not be strong. With that, wind speed will remain relatively slow, as reported by Latvian State Environment, Geology and Meteorology Centre.

How will Lithuania look like in another 100 years?

In order to tell it, one needs to know the past and the presence. Yet the predicting how the centennial celebrations-engulfed Lithuania will look like in another hundred years is not easy at all even for political and business pundits.

Minister: Latvian authorities will perform an investigation about FinCEN report

Responsible Latvian institutions will perform an investigation in relation to the report from US Finance Ministry’s Financial Crimes Enforcement Network (FinCEN). In this report, the institution accuses ABLV Bank of bribing Latvian officials, says Foreign Affairs Minister Edgars Rinkēvičs.

Party calls for extraordinary meeting of Riga City Council’s Transport Committee

To invite officials to explain the illegal decision in regards to the mutual agreement between Rīgas satiksme’s and Rīgas mikroautobusu satiksme’s, political party For Latvia’s Development urges opposition factions of Riga City Council to call an extraordinary meeting of the Transport Committee, as confirmed by the party.

Meteorologists warn about -25° C frost in Latvia in March

Global Forecast System predicts a possibility of -25° C frost in Latvia’s eastern parts at the beginning of March.

Latvian residents remain dissatisfied with their families’ financial state

For several years in a row the majority of Latvian residents remain dissatisfied with their families’ financial state, according to results of Baltic International Bank Latvian Barometer.

Latvia’s cosmetics market – 160 million euros

Latvia’s cosmetics market is worth approximately EUR 160 million. Similar to Europe, skin and hair care products are the most popular ones. The smallest market proportion is occupied by decorative cosmetics, according to data from Latvian Cosmetic Manufacturers Association (LCMA).

RB Rail CEO says interference «from above» has been in line with the law so far

We have seen interference «from above» in RB Rail’s activities. The law was not breached, however. With that, there was no need to report anything to law enforcement institutions, RB Rail CEO Baiba Rubesa told Ir magazine.

15 Estonians die in flu period from complications

The number flu patients in Estonia is currently increasing. So far during this year's flu season, 15 people have passed away with flue-related complications.

Economy Minister asked to fix increasing electricity bills; parties threaten with dismissal

Latvian Economy Minister Arvils Ašeradens has to fix the mistakes that have caused electricity bills to increase, said chairman of Free Trade Union Confederation of Latvia Egils Baldzēns in an interview to 900 seconds programme of LNT.

Third of beer consumed in Estonia in 2017 bought in Vidzeme, Estonian factory breweries evaluate

Saku and A. Le Coq, two largest beer makers in Estonia have not published their exact sales numbers for the last year, but have been quick in stating that about one third of all beer drunk in Estonia was purchased in Latvia.

U.S. hit by another mass shooting at school

In the U.S., a high school has been attacked in the state of Florida, where gunshots have taken the lives of 17 people. Local police has detained a suspect – a 19-year-old man, who had been expelled from the same school.

Newest comments