bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Sunday 25.09.2016 | Name days: Rauls, Rodrigo
LatviaLatvia

Latvia’s foreign trade turnover declined 2.4% in June

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn comparison with May, Latvian foreign trade turnover at current prices decreased by 2.4% in June 2016. The exports value of goods declined by 3.1% and the imports value dropped by 1.8%.

In June, Latvia exported goods in the amount of EUR 815 million, and imported goods in the amount of EUR 984 million. The foreign trade balance worsened slightly, as exports in the total foreign trade value dropped to 45.3% (45.6% in May 2016), according to data from the Central Statistical Bureau of Latvia.

The main changes in exports in June, as compared to May, included the following: exports of basic metals and articles of basic metals fell by EUR 20.2 million or 22.4%; exports of vegetable products decreased by EUR 15.0 million or 35.8%; exports of wood and articles of wood reduced by EUR 11.2 million or 7.1%; exports of machinery and mechanical appliances; electrical equipment increased by EUR 13.0 million or 10.1%; exports of prepared foodstuffs grew by EUR 6.5 million or 10.0%.

The main changes in imports in June, as compared to May, included the following: imports of vehicles and associated transport equipment dropped by EUR 21.9 million or 17.0%; imports of products of the chemical and allied industries declined by EUR 6.8 million or 6.1%; imports of vegetable products decreased by EUR 3.3 million or 8.2%; imports of machinery and mechanical appliances; electrical equipment rose by EUR 10.8 million or 5.5%; imports of prepared foodstuffs increased by EUR 4.1 million or 5.0%.

In June, the main export partners in trade with the EU countries were Lithuania (19.0% of total export), Estonia (12.7%), Germany (6.9%) and Sweden (6.8%), whereas the main import partners were Lithuania (16.5% of total imports), Germany (12.6%), Poland (11.7%) and Estonia (7.7%).

Russia was the main partner in trade with third countries; its share in total Latvian exports in June accounted for 7.9%, whereas in imports – for 7.1%.

The rise in exports of articles of iron and steel in June 2016, as compared to June 2015, was affected by the increase in exports of welded tubes, pipes and hollow profiles of iron and steel with a non-circular cross-section by EUR 0.6 million or 33.0%. In turn, exports of iron and steel reduced, as the exports of iron and non-alloy steel bars decreased by EUR 10.1 million or 88.6%.

The rise in imports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof in June 2016, as compared to June 2015, was affected by the increase in imports of passenger cars by EUR 8.7 million or 26.4%. In turn, a decline in the imports of semi-finished products of iron or non-alloy steel of EUR 6.9 million or of 98.5% had the most significant effect on the imports of iron and steel.

Ref: 103.109.109.5998


Leave a reply

Ten million euros to be allocated to assist with elder people employment

Central Finance and Contracting Agency has sent a proposal to the State Employment Agency to apply for European Social Fund financing to realize measures to maintain and improve elder people employment.

Latvia and China sign cooperation memorandum to develop aviation industry

Latvian Transport Minister Uldis Augulis and Administrator of Civil Aviation Agency of China Feng Zhenglin signed a cooperation memorandum on Friday, 23 September. This cooperation memorandum is meant to assist with the development of the aviation industry.

Number of counterfeit products confiscated by EU authorities continued to grow in 2015

According to the latest data published on Friday, 23 September, by the European Commission, EU customs authorities confiscated five million euros worth of more counterfeit products in 2015 than they did the year before.

Businessmen urge professionals to apply for SRS director general’s post

Latvian Chamber for Commerce and Industry invites professionals who fit requirements put up by the State Chancellery to take part in the personnel selection process for the post of director general of the State Revenue Service.

Dogo producer submits additions to court to launch case for slander

Tukuma Straume, manufacturer of Dogo dog food, has submitted documents to Riga City Vidzeme District Court to launch legal action against 17 private and legal persons for spreading untrue, partial and distorted information about the aforementioned product.

Meet «average candidate» for near Lithuanian parliamentary election

It‘s a race that has coalesced many of Lithuania’s heavy-hitters, political wannabes and simply better-life seekers for the same goal – clinching the coveted seat at Parliament.

Estonian presidential nominees feel need for stronger link with Russian community

Days before the decisive vote on the next Estonian President, most candidates have stressed the need for increased communication with the country's Russian-speaking population to establish a stronger link.

119 domestic pigs are put down in Gulbene due to ASF

African swine fever has been recorded in Gulbene municipality’s Ranka parish. Because of it, authorities had to put down 119 domestic pigs.

Burgh Group and Vitol to acquire shares of Richards Bay Coal Terminal

A consortium comprising Burgh Group Holdings and Vitol has agreed to acquire Optimum Coal Terminal Pty Ltd from the Tegeta Group for an undisclosed sum, subject to the relevant regulatory approvals and other conditions precedent.

Quarter of Latvia’s small and medium-sized companies struggle with financial difficulties

Only half of more than 60,000 companies in Latvia have a stable financial situation. 26% of small and medium-sized companies are currently struggling financially. In the next twelve months, they are expected to experience major financial difficulties, according to data from the Credit Information Bureau.

YouTube to encourage users to «snitch» on inappropriate content

Popular video sharing site YouTube has this week announced a scheme to offer rewards to users reporting on videos and comments, which they think are inappropriate to YouTube content guidelines.

Belgian police take 13 immigrants to France by accident

Two Belgian policemen have been handcuffed and questioned in northern France by their French counterparts after being caught with 13 illegal migrants banned from staying in Belgium.

Transit industry: this is the golden moment to decide the future of Latvia’s national economy

Although Latvian Association of Ports CEO Karlis Leiskalns praises the work of Riga Freeport, where he works as well, advisor to Latvia’s Foreign Affairs Minister Sandra Sondore and president of Baltic Association – Transit and Logistics Inga Antane emphasize the importance of all three of Latvia’s biggest ports for the growth of Latvia’s national Economy.

Coalition parties will not form a shared candidate list for elections in Riga

Parties of the ruling coalition – Unity, National Alliance and Union of Greens and Farmers – decided on Thursday, 22 September, to cooperate before and after municipal elections in Riga. They will not, however, form shared candidate lists.

Eesti Energia considers building another plant, if oil price rises

Estonian energy company Eesti Energia (Enefit) has this week spoken of plans to build another oil shale refinery plant in case the price of crude oil surpasses USD 60 (EUR 53) per barrel.

Poroshenko: Russia lies even more than Soviet leaders

President Petro Poroshenko of Ukraine has directed sharp criticism toward Russian foreign policies in Europe during his September 21 speech at the UN General Assembly.

Criminal liability will be applied for serving in foreign army or police force

To reduce possible security risks in relation to military service in third countries, Latvian citizens and non-citizens will be prohibited from serving in foreign armies, police and security institutions. Breach of this prohibition will carry criminal liability with a sentence of up to four years in prison.

Proposal to merge SRS Finance Police and Customs Police is declined

Finance Minister Dana Reizniece-Ozola intends to look for ways to ensure the merging of State Revenue Service’s Finance Police and Customs Police.

Saeima proposes reviewing options to secure free lunches in kindergartens

On Thursday, 22 September, the Saeima decided to ask Cross-Sectoral Coordination Centre’s cooperation platform Demographic Affairs centre to review the option of securing free catering in kindergartens.

Tougher abortion legislation pushed for in Poland

The Polish parliament is this week reviewing proposals backed by Poland’s Catholic Church to make the country’s abortion law even tougher.

Saeima to approve next year’s budget on 23 November

Latvia’s parliament plans to approve the final draft of the country’s budget for 2017 on 23 November, as agreed upon by members of Saeima’s Budget-Finance Committee on Wednesday, 21 September.

EU plan on lifting roaming charges altered

The European Commission this week has announced changes to the European Union’s plan to lift roaming surcharges to people, who use their mobile phones in another member state.

Criminal liability for service abroad and other decisions viewed by Saeima

To reduce possible security risks associated with service abroad, the Saeima on 22 September will conceptually decide on a prohibition for Latvian citizens and non-citizens to serve in armies, police and security institutions in third countries. This is provided by amendments to the National Security Law and Criminal Law.

VNT: Ventspils Freeport’s rule-development process is non-transparent

While Ventspils City Council and Ventspils Freeport Authority publicly express their common requirement for VNT to build and operate a vapour recovery unit, Ventspils Freeport Authority has been failing to issue technical regulations for construction of the VRU for nine months.

Riots in U.S. city followed by state of emergency

State of emergency has been announced in the U.S. city of Charlotte on September 21, where riots erupted after police killed a man.