bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Saturday 03.12.2016 | Name days: Raita, Jogita, Evija
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

Following an investment of 3.3 million, K-rauta becomes K Senukai

On Friday, 2 December, Baltics’ largest construction, repair and household goods store network Kesko Senukai opened its first new concept shopping centre K Senukai in Riga, Lucavsalas Street. This venture cost the company EUR 3.3 million.

Saeima deputies allocated record-large amount of money for «friend projects»

The money of Latvia’s budget for next year allocated not with the intention to solve problems in priority industries but rather to satisfy desires of certain politicians and their lobby groups has reached an astonishing new peak – EUR 27.9 million, according to estimates, as reported by Ir.

Income from foreign travellers in Latvia declines

In Q3 2016, Latvia’s current account had a surplus of EUR 93.4 million or 1.5% of GDP, notes Bank of Latvia economist Linda Vecgaile.

airBaltic to sell Boeing 737 after replacing them with Bombardier CS300

Latvian national airBaltic airline intends to gradually update its fleet with Bombardier CS300 aircraft. The airline plans to sell its owned Boeing 737, says Martin Gauss, Chief Executive Officer of airBaltic.

Numbers of active voters in Latvia continue to decline before next year’s elections

47% of Latvian vote-ready citizens plan to take part in next year’s municipal elections, according to results of a survey carried out by SKDS following a request from the Central Election Commission in November.

BATL: transit industry’s potential is enormous, but not used to its fullest

Baltic Association – Transport and Logistics is satisfied that real and constructive work has commenced in cooperation with LDz Logistics and Transport and Communications Institute on Latvia’s transport and logistics, including the development of a strategy for the transit industry.

Ominous milestone: one-millionth Lithuanian to leave soon

The statisticians claim that, every day, 120 Lithuanians hop onto Scandinavia and Western Europe-bound planes in search of a better life. This month, Lithuania is likely to reach an ominous and heart-wrenching milestone with the country‘s émigré number expected to go over one million. To calm down the naysayers, the estimate is unofficial.

Snowy weekends expected in Latvia

The first days of December will go by under influence from a cyclone. Because of that, many regions of the country are expected to experience snowfall. Rain is only expected along the coast. Ice is expected to form as a result and visibility will likely reduce because of snowfall.

Three European cities plan to ban diesel cars

Looking for ways to improve their quality of air, the mayors of Madrid, Paris and Athens have on December 1 expressed readiness to introduce bans on cars and trucks with diesel engines by 2025.

French President Hollande refuses to run for re-election

France’s President François Hollande has unexpectedly announced that he would not run for re-election to the post.

Several hundred Estonian reserve soldiers summoned to unexpected drills

The cabinet of ministers of Estonia ordered on December 1 to hold snap military drills to test the ability of reserve troops to reach combat readiness in 24 hours.

Freight turnover and freight traffic declines at ports

Compared to Q3 2015, the volume of freights carried by land and pipeline transport has decreased by 1.8 million tonnes or 5.5 % in Q3 2016. The most notable drop in the volume of freights carried was recorded in rail transport – of 2.3 million tonnes or 18.9 %.

EU 2017 budget to provide the most support to youth and growth initiatives

In the next year’s budget, members of the European Parliament have secured larger support to unemployed youngsters and Erasmus+, as well as initiatives for support of small and medium-sized businesses, transport infrastructure projects and research. Commitment appropriations for 2017 total EUR 157.8578 billion, and payment appropriations EUR 134.49 billion.

Vejonis picks Kalnins as candidate for NAF commander

President of Latvia Raimonds Vejonis has decided to propose National Armed Forces Joint Staff Chief Leonids Kalnins for the post of commander of Latvia’s National Armed Forces. Kalnins was previously proposed by Defence Minister Raimonds Bergmanis, according to information from LETA.

Europol releases its Christmas calendar of EU’s most wanted criminals

European Union’s police body Europol has engaged in the often commercial pre-festive period by releasing Christmas advent calendar that will reveal one of bloc’s most wanted criminals every day up until Christmas.

Expert: Latvia’s real estate market is sick

In medical terms, Latvia’s real estate market is currently sick. It will only recover once all transactions are carried out using actual market price and those whose expectations are overestimated – drop out, said real estate specialist, member of Latvian Real Estate Association and board member of Real State Jurmala Igors Danilevics.

Prime Minister: Latvia’s economic growth is not as fast as it was expected in 2015

«Looking at national economy’s growth dynamics in 2016, we have noticed drastically different ratings. On the one hand, there are positive statistics that prove Latvia’s economic growth continues. It is not as fast as it was expected in 2015. It is expected that growth will continue in the future. A few days ago opinions of multiple banking experts appeared in the public space, saying that wage growth in Latvia will speed up next year. I would associate that with the government’s decisions and the Saeima’s approved budget for 2017,» – said Prime Minister Maris Kucinskis.

Estonia’s coalition distances itself from charges against ruling party

The coalition partners of Estonia’s Centre Party, which is headed by the Estonian Prime Minister, have this week distanced themselves from charges brought against the ruling party for allegedly receiving illegal political donations.

Finland’s Prime Minister blamed for attempts to limit press freedom

The Prime Minister of Finland Juha Sipilä has denied allegations that he has attempted to affect, how press covers allegations against him and his relatives.

Restrictions for alimony avoiders and other decisions viewed by the Saeima

On Thursday, 1 December, the Saeima will decide on the new Subsistence Guarantee Fund Law. This law states that driving rights can be revoked for alimony avoiders.

OPEC oil exporters agree to reduce oil output to increase price

The Organization of the Petroleum Exporting Countries agreed on November 30 for the first time since 2008 to reduce oil supply in an attempt to make global oil prices grow. The organisatrion’s head Mohammed Bin Saleh Al-Sada stated that a cut of 1.2 million barrels a day would start from January

Tragic dormitory fire in Turkey

Police in southern Turkey has detained six people after 11 pupils and a teacher died in a dorm fire.

Tick encephalitis infection cases increased by one-third in Latvia this year

Cold November forced ticks to enter hibernation. There is reason to believe tick activity in Latvia has ended for this year, admits entomologist Voldemars Spungis.

PHOTO: world’s first Bombardier CS300 aircraft arrives in Riga

On Wednesday, 30 November, Latvian airBaltic airline welcomed the world’s first Bombardier CS300 aircraft in Riga.

Retail trade turnover in Latvia up 0.2%

Compared to October 2015, total retail trade turnover rose by 0.2 % in October 2016. Turnover of retail trade in food products decreased by 2.7 %, whereas the turnover of retail trade in non-food products increased by 2.0 %.

Newest comments