bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Monday 18.12.2017 | Name days: Klinta, Kristaps, Kristofers, Krists
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

Liepājas metalurgs may restart production in February 2018

Liepājas metalurgs may restart production in February 2018, said potentially insolvent KVV Liepājas metalurgs’ investor, said Israeli-based businessman Igor Shamis in an interview to LNT Top 10 News.

Ryanair pilots in talks not to strike before Christmas

Pilots of popular airline Ryanair have suspended plans to hold a day-long strike before Christmas after the Irish company agreed to recognise pilot trade unions for the first time.

Weather in Latvia to be cold and snowy this week

Atmospheric pressure will rise at the beginning of the week. Because of that, no precipitation is expected. Wind speed will be low and mist will remain in certain regions. On Tuesday, 19 December, a low atmospheric pressure area will pass through the country, bringing some rain, snow and wet snow, as reported by State Environment, Geology and Meteorology.

Week in Lithuania. Lithuanian doctors to offer voluntary test on alcohol habits

Lithuania's Health Minister Aurelijus Veryga has drafted a new scheme for residents attending health care institutions to fill out tests that would reveal whether the person's drinking habits signal a possible addiction.

Citadele Index: businessmen are more optimistic about economic growth

After a four-year gap, optimism has been noticed in all of Latvia’s business sectors. For the third consecutive quarter Citadele Index value exceeds 50 points. Businessmen are also positive about the country’s economy and their own finances, according to the final Citadele Index study for 2017.

Bank of Latvia increases GDP growth outlook to 4.7% for 2017

Bank of Latvia has decided in increase gross domestic product growth outlook from 4.2% to 4.7% for 2017, as reported by the bank’s governor Ilmārs Rimšēvičs.

Latvian residents’ opinion of government’s work remains negative

Latvian residents voiced the biggest degree of dissatisfaction about the development of the situation in Latvia and the work performed by the government. Although the previous evaluation of government’s work had increased by four points, it has since declined by two points, according to data from Baltic International Bank’s Latvian Barometer.

Eel fishing to be restricted in Baltic Sea for three months

European Union Fisheries Council has decided to restrict eel fishing for three months in 2018 in all waters, including the Baltic Sea. Although the World Wide Fund for Nature and environmental organization in Europe view it as a notable first step, these efforts are unlikely to have a major impact on the most important problem – eel population continues declining rapidly, as noted by WWF.

LCCI: increase of electricity bills for thousands of companies in unacceptable

Latvian Chamber of Commerce and Industry (LCCI) categorically opposes increasing electricity bills for the majority of small and medium-sized companies due to mandatory procurement component’s differentiation. The organization believes that this would basically introduce a new additional tax, making them even less competitive.

Head of Latvian Association of Regions to spend Christmas thinking on remaining in the party

Dissatisfied with multiple decisions made by Latvian Association of Regions (LAR), Riga City Council member Mārtiņš Bondars will spend the holiday thinking about his place in this political party, as he mentioned in his interview to Rīta panorama or LTV.

Estonian fund permitted to purchase several Latvia energy production companies

Latvian Competition Council has permitted Estonian fund to purchase several energy production and agricultural companies.

Meat processing giant sees room for growth in ready-to-eat foods

Consumption in the meat market segment of ready-to-eat foods is growing quickly, evaluated Finnish meat processing group HKScan that is planning to invest eight million euros in its factory in Estonia.

To fight for national minority schools, Russian representatives promise to hold a referendum

Defenders of Russian schools in Latvia promise to organize a referendum for autonomy of national minority schools, said co-chairman of Latvian Russians Association Miroslavs Mitrofanovs in regards to the transition to education only in Latvian language.

Tax payment process from capital growth to change in Latvia

As part of the tax reform, changes will be added to the Personal Income Tax Law starting from 1 January 2018. One of the changes is associated with payment and declaration of income from capital growth. The tax rate and the term for submission of declarations on income from capital growth will change next year.

Tusk deems EU migrant quotas ineffective as some states oppose taking in migrants

Donald Tusk, the head of the Council of the European Union and chairman of this week's EU summit, has evaluated that mandatory EU-wide quotas are ineffective and that there is a split between east and west as regards asylum policy.

Riga City Council’s 2018 budget – poorly planned or well-developed?

As the vote for the 2018 budget of Riga City Council draws near, representatives of all opposition parties say they will not support it as long as politicians of the ruling coalition continue viewing the city’s most important financial document as good and aimed at development.

Euro area economy has grown quicker than expected, European Central Bank estimated

Growth has been at a faster pace in the eurozone prompting the European Central Bank to raise its economic growth forecasts.

Weekends in Latvia expected to be snowy

A layer of snow will form in Latvia’s central and western regions that will remain until the middle of next week, as reported by State Environment, Geology and Meteorology Centre.

Opinion: Latvia at risk of restricting healthcare to 300,000 people

Kustība Par! political party has sent a letter to Latvia’s President Raimonds Vējonis, asking him to return to the Saeima the recently approved law on healthcare funding legislative draft. According to the party, the law restricts healthcare for 300,000 people in Latvia.

Lithuania’s 2018 budget focuses on spending cuts, NATO commitment and social security

Lithuania's 2018 budget, approved this week by the Seimas, Lithuanian Parliament, makes history for being the first budget ever with fewer spending for the governmental sector, the commitment to NATO of earmarking 2 per cent of the gross domestic product to defence and bigger allotments for social security. The budget was adopted by 84 MPs, 29 voted against, with 15 abstentions.

EU member states have to strengthen measures against sexual abuse of children

Member states of the European Union have to take more serious measures and cooperate more intensely with Europol and information technology industry to better combat sexual abuse of children, as noted by members of the European Parliament.

Latvian parliament views initiative for changing VAT rate for food product

On Thursday, 14 December, Latvia’s Saeima made its decision on the collective application that proposes reducing VAT on everyday healthy food products and increasing VAT on unhealthy products.

Maxima: residents have become more conservative in their choice of products

In Q2 and Q3, a higher degree of conservatism was noticed in residents’ choice of products. The number of buyers who gladly purchase new products has declined, whereas the number of buyers who do not change anything in their purchasing habits has increased, according to results of a study performed by Maxima.

Civil processes to be sped up and simplified in Latvia

On Thursday, 14 December, Saeima supported amendments to the Civil Process Law in the final reading. Amendments propose several major changes to the process of review of civil processes to make court sessions quicker and more efficient.

State Auditor dissatisfied with parliament’s slow legislative process

Latvian State Auditor Elita Krūmiņa plans to inquire to the Saeima about the delay with the approval of the legislative draft on the expansion of authority of her institution, as she mentioned in an interview to Rīta panorama programme of LTV.

When do you go shoping for Christmas gifts?

View Results

Loading ... Loading ...

Polls Archive



Category feed: Feed: