bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Friday 24.02.2017 | Name days: Diāna, Dina, Dins
LatviaLatvia

Latvia’s foreign trade balance improves

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUAs compared to March, Latvian foreign trade turnover at current prices fell by 1.5 % in April 2016 Exports value of goods rose only by 0.04 % and imports value – decreased by 2.7 %.

In April, Latvia exported goods in the amount of 834.2 million euros, while imported – in the amount of 998.2 million euros. As exports in the total foreign trade value increased up to 45.5 % (in March 2016 – 44.8 %), foreign trade balance improved, according to data from the Central Statistical Bureau of Latvia.

Main exports changes in April, compared to March, include the following: exports of machinery and mechanical appliances; electrical equipment grew by 13.6 million euros or 10.7 %; exports of mineral products increased by 6.3 million euros or 14.2 %; exports of vehicles and associated transport equipment increased by 6.2 million euros or 17.3 %; exports of products of the chemical and allied industries reduced by 13.5 million euros or 16.8 %; exports of basic metals and articles of basic metals dropped by 6.8 million euros or 9.1%.

Main imports changes in April, compared to March, include the following: imports of mineral products fell by 12.7 million euros or 14.3 %; imports of vehicles and associated transport equipment decreased by 11.9 million euros or 14.5 %; imports of products of the chemical and allied industries reduced by 8.7 million euros or 6.3 %; imports of wood and articles of wood dropped by 5.5 million euros or 13.4%; imports of machinery and mechanical appliances; electrical equipment grew by 25.3 million euros or 12.7 %.

In April, Lithuania (17.8 % of total exports), Estonia (12.6 %), Germany (6.7 %) and Poland (6.3 %) were the main export partners in trade with the EU countries, whereas Lithuania (17.6 % of total imports), Poland (11.7 %), Germany (10.4 %) and Estonia (8.5 %) were the main import partners of Latvia.

Russia was the main partner in the trade with third countries. In April the share thereof in total Latvian exports accounted for 8.2 %, and for 6.8 % in Latvian imports.

As compared to April 2015, the rise in exports of cereals had an upward impact on the exports of wheat in April 2016 – of 7.4 million euros or 14.4 times. The drop of 34.3 million euros or 74.8 % in exports of mobile telephones had downward effect on the imports of electrical machinery and equipment.

As compared to April 2015, the growth in imports of chemical products recorded in April 2016 was mainly caused by the increase of 4.0 million euros or 23.9 % in imports of insecticides, fungicides, herbicides, disinfectants and similar products. While the drop in imports of mineral fuels, mineral oils and products of their distillation was mostly influenced by the decrease of 26.9 million euros or 42.5 % in imports of diesel oil.

Ref: 102.109.109.5998


Leave a reply

State Audit: Healthcare Ministry had no right to reveal RAKUS audit results

State Audit criticizes Healthcare Ministry for revealing facts from an audit report, as it is prohibited to publish information before reports come into force.

Piebalgs: UGF’s popularity is critically low, which causes concerns

«The popularity of the management of the Union of Greens and Farmers is critically low. This causes serious concerns. If we truly want things to change, politicians have to be dynamic and prepared to think outside the usual categories,» says Unity chairman Andris Piebalgs.

SFRS: young people express increased interest in becoming fire fighters

Youngsters tend to express interest in becoming fire fighters, said Chief of State Fire and Rescue Service Oskars Abolins told Rīta panorama, adding that this can be explained with increased wages.

Ex-KNAB officials: there was no reason to end the «oligarchs case»

Former officials of the Corruption Prevention and Combating Bureau believe the prosecutor’s office and KNAB had no reasons to end the so-called oligarchs case. Nevertheless, they are not surprised about this outcome.

Infrastructure in Kraslava and Ludza to be developed using EU finances

Central Finance and Contracting Agency and councils of Kraslava and Ludza have signed an agreement for the realization of a project co-financed by the European Regional Development Fund to develop infrastructure in regions and contribute to attraction of private investors, CFLA reports.

Poland «cleans» its army leadership from Soviet Era servicemen

In the Polish Armed Forces, around 90% of its highest servicemen have been substituted, as the country’s Defence Ministry performs was changes in the Polish army.

Balta: poor weather conditions significantly affect road quality

«In the first two months of 2017, we have received 59 insurance claims to cover losses caused low-quality road surface and more than EUR 20,000 has been reserved for compensations,» as reported by Balta insurance association.

GSK Latvia board member appointed as chairman of Children's Clinical University Hospital

Valts Abols has been appointed as the head of Children's Clinical University Hospital. For the past 20 years he worked in managing posts of GlaxoSmithKline Latvia pharmaceutical company, as reported by Healthcare Ministry.

Estonia celebrates 99th anniversary since declaration of its independence

On February 24, it is Estonia’s Independence Day, which commemorates the time in February 1918, when a short period of foreign power vacuum was used to declare the establishment of the Republic of Estonia.

VNT recognised as the best employer in Kurzeme Region for the third time

On Thursday, 23 February, for the third year in row Ventspils nafta termināls received an award in the category Best Employer in Kurzeme Region presented by the online recruitment company CV-Online Latvia.

Welfare Ministry proposes reducing overtime pay

Latvian Welfare Ministry proposes reducing overtime pay for the first time two hours by half, says WM Egils Zarins.

Russia recognises its military involved in «intelligent, effective propaganda»

Russian Defence Ministry has recognised publicly for the first time the magnitude of its warfare effort, adding it has been significantly expanded in the post-Cold War period.

SRS urges residents to use return option for overpaid PIT

Next week, Latvian State Revenue Service will begin accepting income declarations for 2016 for the repayment of PIT. The list of justifiable expenses has been expanded this year, allowing residents to recover part of the money paid for child interest clubs, SRS reports.

Major Lithuanian cities’ mayors frown at Government’s refugee relocation plan

With the refugee centre in Rukla in central Lithuania full and tensions in the settlement simmering, the Lithuanian Government has come up with a plan to shut eventually down the centre, relocating its dwellers to Lithuanian municipalities.

Bosnia appeals against ICJ’s ruling on Serbia’s role in genocide

Bosnia and Herzegovina has officially appealed against the International Court of Justice’s ruling, which did not hold Serbia responsible for genocide against Bosniaks in the 1990s.

Meteorologists predict more snow in Latvia this week

Weather in Latvia will remain dictated by an active cyclone this week. Because of that, frequent bursts of precipitation are expected. Wind speed will be high and there is a risk of a blizzard, as reported by the State Environmental, Geology and Meteorology Centre.

HM: management of finances and resources has not been effective in Riga Eastern Hospital

«Insufficiently active management and unreasonable decisions made by the management of Riga Eastern Clinical University Hospital have significantly affected financial results of this healthcare institution,» believes Latvian Healthcare Ministry.

RPIVA representatives to demand Sadurskis’ resignation

On Tuesday, 28 February, Riga Teacher Training and Management Academy intends to organize a piquet outside of the Cabinet of Ministers building. The goal of this protest act is to demand the resignation of Latvian Education and Science Minister Karlis Sadurskis and halt the process of the academy’s liquidation.

Estonia with its start-up visas attracts specialists from Ukraine and India

In January 2017, Estonia introduced a special start-up visa programme, to which 50 specialists have applied, mostly from Ukraine, Belarus, Russia and India.

Survey: Latvian residents’ comprehension of life insurance is low

Only approximately every third Latvian resident is certain that life insurance should be necessary for people with large debts. This means residents’ overall understanding of the concept of life insurance is low, as stated in the survey performed by ERGO, DNB Bank and SKDS, comparing results with average indexes in other European countries.

Baldzens: Latvia’s education system is over-financed; teachers are not to blame

Teachers’ pay must not rely on how successfully the government and municipality handle school network’s reorganization, said the head of Free Trade Union Confederation of Latvia Egils Baldzens told Rīta panorama on Thursday, 23 February.

Two Riga Eastern Clinical University Hospital board members step down

Chairperson of Riga Eastern Clinical University Hospital Anita Slokenberga and board member Viestura Boka have stepped down from their posts.

Latvian Saeima ratifies EU-Canada Comprehensive Economic and Trade Agreement

On Thursday, 23 February, Latvia’s parliament ratified the EU-Canada Comprehensive Economic and Trade Agreement.

Gaspuitis: Latvia will be a leader among Baltics in GDP growth this year and the next

The global economy currently has favourable conditions for faster growth. In Eurozone, mood index level is the highest since 2011. This will also be reflected in better growth conditions in Latvia, as stated in SEB Bank’s latest Nordic Outlook.

UN: 20 million people to face famine over next six months

UN Secretary-General António Guterres has warned that to avert famine in several African nations and Yemen, the organisation would need 4.4 billion U.S. dollars.

Newest comments