bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Saturday 24.02.2018 | Name days: Diāna, Dina, Dins
LatviaLatvia

Latvia’s foreign trade turnover increased 13.3% in September

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn September 2017 Latvian foreign trade turnover amounted to EUR 2.28 billion, which, at current prices, was 13.3 % more than in September 2016, of which the exports value of goods was 7.7 % and imports value of goods was 18.4 % higher.

In September, Latvia exported goods in the amount of EUR 1.03 billion, and imported goods in the amount of EUR 1.25 billion. The foreign trade balance worsened, as exports in the total foreign trade value dropped to 45.4 % (in September 2016 – 47.7 %), according to data from the Central Statistical Bureau of Latvia.

Over the first nine months of the present year, the foreign trade turnover of Latvia at current prices reached EUR 18.63 billion – EUR 2.19 billion or 13.3 % more than in the corresponding period of 2016. The exports value constituted EUR 8.25 billion (an increase of EUR 716.0 million or 9.5 %), whereas the imports value comprised EUR 10.38 billion (an upturn of EUR 1.47 billion or 16.5 %).

Calendar and seasonally adjusted data at current prices show that, compared to September 2016, in September 2017 the exports value at current prices went up by 10.3 % and the imports value by 22.5 %, whereas, compared to the previous month, the exports value grew by 0.5 % and the imports value by 0.1 %.

In September 2017, main changes in exports, compared to September 2016, included the following: exports of machinery and mechanical appliances; electrical equipment up by EUR 50.4 million or 32.4 %; exports of prepared foodstuffs up by EUR 20.9 million or 25.7 %; exports of base metals and articles of base metals up by EUR 15.5 million or 21.1 %; exports of mineral products up by EUR 7.0 million or 16.1 %; exports of vegetable products down by EUR 8.7 million or 7.8 %.

In September 2017, the main changes in imports, compared to September 2016, included the following: imports of mineral products up by EUR 68.2 million or 73.7 %; imports of machinery and mechanical appliances; electrical equipment up by EUR 44.8 million or 21.4 %; imports of prepared foodstuffs up by EUR 24.6 million or 25.6 %; imports of products of the chemical and allied industries up by EUR 21.9 million or 22.3 %;imports of vehicles, aircraft, vessels and associated transport equipment up by EUR 13.9 million or 12.9 %.

In September, Lithuania (with 16.2 % of the total exports), Estonia (10.6 %), Germany (7.1 %) and United Kingdom (5.1 %) were the main export partners of Latvia in trade with the EU countries, and Lithuania (with 17.2 % of the total imports), Germany (10.8 %), Poland (8.7 %) and Estonia (7.1 %) were the main import partners.

Russia was the main partner in trade with the third countries; in September, its share accounted for 8.9 % in the total Latvian exports and for 10.5 % in the total Latvian imports.

In September 2017, compared to September 2016, rise in exports of machinery and mechanical appliances was facilitated by the increase of EUR 47.7 million in exports of turbojets, turbopropellers and other gas turbines. Exports of miscellaneous grains, seeds and fruit; industrial or medicinal plants, in its turn, reduced, as the exports of rape or colza seeds dropped by EUR 12.6 million or 29.7 %.

In September 2017, compared to September 2016, growth in imports of mineral fuels, mineral oils and products of their distillation was influenced by the increase of EUR 62.5 million (7.8 times) in imports of natural gas (gaseous). Meanwhile, decline in the imports of iron and steel was mainly affected by the drop of EUR 8.3 million or 32.8 % in imports of flat-rolled products of iron or non-alloy steel.

Ref: 225.109.109.4252


Leave a reply

Baltic States ask European Commission to maintain EU Cohesion Fund financially strong

Baltic finance minister ask the European Commission to keep the European Union’s Cohesion Policy financially strong and aim it towards results, BNN was told by Finance Ministry.

Police commence investigation on possible money laundering schemes at ABLV Bank

Latvia’s State Police has commenced an investigation about the possible money laundering operations at ABLV Bank, which were reported by Financial Crimes Enforcement Network (FinCEN) US Department of Treasury.

S&P Global affirms Latvia’s credit rating at «A-»

On Thursday, 22 February, S&P Global reaffirmed Latvia’s credit rating on the «A-» level, retaining a positive outlook for the future, as BNN was informed by the State Treasury.

Kristovskis: state officials should be equally strict to Lembergs and Rimšēvičs

«Lack of consistency – such a conclusion appears after looking at the behaviour of state officials in regards to their request for Ilmārs Rimšēvičs’ to step down as governor of the Bank of Latvia,» says Ventspils City Council member Ģirts Valdis Kristovskis.

LSRTC: Zaķusala TV Tower’s reconstruction will cost several dozen million euros

According to chairman of Latvia’s State Radio and Television Centre (LSRTC) Jānis Bokta, reconstruction of Zaķusala TV Tower will cost several dozen million euros.

Trade union worried teachers may not have time to prepare for new education content

Teachers may not have enough time to prepare to work with new education content, said manager of Latvian Education and Science Workers' Union Inga Vanaga in an interview to Rīta Panorāma programme of LTV.

Judins, Loskutovs, Čigāne and Dālderis to continue working in Unity’s faction

Saeima members Andrejs Judins, Aleksejs Loskutovs, Lolita Čigāne and Ints Dālderis will continue working in Unity’s faction and coalition.

Saeima supports member’s proposal to publish wages of Bank of Latvia employees

Latvia’s parliament has decided to support Ints Dālderis’ proposal to publish wages paid to employees of the Bank of Latvia, education institutions, as well as municipal capital associations.

More snow expected on weekends; air temperature to drop even more next week

On the night to Friday, 23 February, air temperature in most of Latvia declined to -21° C… -27° C. It was only warmer in Kurzeme and some parts of Vidzeme, as reported by Latvia’s State Environment, Geology and Meteorology Centre.

SEB Bank: more employment options will open up and workers will become more selective

«It is becoming easier to change jobs nowadays. The largest selection of employment options are found in regional centres and cities, especially Riga and Pieriga. We see fewer employment options in regions even though there is still considerable demand for workers there,» predicts SEB Bank’s macroeconomics expert Dainis Gašpuitis.

ABLV Bank’s manager claims the bank is ready for cancellation of payment restrictions

ABLV Bank is ready for cancellation of payment restrictions, said the bank’s chairman Ernests Bernis during a press-conference on Thursday, 22 February.

62.9% of Latvia’s population was employed in 2017

Compared to the year before, in 2017 employment rate grew by 1.3 percentage points and number of employed persons by 1.5 thousand. Employment rate among men grew faster than among women – by 1.6 percentage points and 1.0 percentage points, respectively. 894.8 thousand people or 62.9 % of Latvia population aged 15–74 were employed in 2017.

Lithuania and Latvia: the tale between two sisters marked with rivalry

Relations between Lithuania and Latvia, two tight-knit Baltic neighbours, may exemplify a sisterly relationship from the first sight, but just over the course of a single week, several pings rang, signalling that rivalry is, and has always been, a component of coexistence.

Lembergs unable to organize his private life because of intense court proceedings

Lembergs unable to organize his private life because of intense court proceedings

Unemployment level in Latvia decreased to 8.7% in 2017

85.4 thousand people aged 15–74 in Latvia were unemployed in 2017. Compared to 2016, the number of unemployed persons has dropped by 9.9 thousand or 10.4 %.

Council member: ECB is openly dissatisfied with restrictions imposed on Rimšēvičs

The European Central Bank (ECB) is openly dissatisfied with restrictions imposed on one of its council members – governor of the Bank of Latvia Ilmārs Rimšēvičs, said council member of the Bank of Latvia Edvards Kušners in an interview to 900 seconds programme of LNT.

Defence expenditures in Latvia planned at EUR 234 million in 2018

Latvian government plans to spend EUR 234 million on defence projects, including procurement of transports, ammunition, armaments and individual equipment, in 2018 as confirmed by Defence Ministry.

Ministry cancels mandatory procurement component permits for five CHP plants

Latvia’s Economy Ministry has made a decision to cancel the permit to sell electricity within mandatory procurement component for five other renewable energy co-generation plants plants: SIA Madonas Eko, SIA Eiro-Āzijas investment agency, SIA EVOKEM, SIA M Parks, and SIA Eco Latvis.

NSC proposes Maizītis for a second term as Chief of Constitution Protection Bureau

Members of Latvia’s National Security Council have decided to propose the current head of the Constitution Protection Bureau Jānis Maizītis for another term at the helm of this institution, as BNN was informed by the State President’s Chancellery.

Latvijas gāze’s subsidiary Gaso proposes reducing gas transmission price

Latvijas gāze’s subsidiary Gase has turned to Public Utilities Commission with a proposal for a new natural gas transmission system service’s tariff project, providing for a reducing gas transmission price by 18-46% for more than 95% gas consumers.

FCMC invites Bank of Latvia to provide ABLV Bank with yet another emergency loan

The Finance and Capital Market Commission (FCMC) has invited the Bank of Latvia to issue ABLV Bank another emergency loan.

Crime rate in 2017 was the lowest in Latvia’s history

Last year’s crime rate turned out the lowest in Latvia’s history, as reported by Prosecutor General Ēriks Kalnmeiers in his annual report.

LEC: government priorities should include searching for causes and solutions, not the guilty

Latvian Employers’ Confederation (LEC) is worried about ongoing events and their negative effect on the stability and future development of the country’s economy. LEC believes that stabilization of the financial situation requires careful coordination of actions between institutions and the government.

Producer price level in Latvia grew 0.9% in January

Compared to December 2017, level of producer prices in Latvian industry rose by 0.9 % in January 2018. Prices of products sold on the domestic market went up by 1.2 % and prices of exported products by 0.6 %.

Latvian President believes country’s financial system is stable; prime minister plans to report to European Council

«Latvia’s financial system is stable, and there is no reason to worry about possible instability of the banking system. Banks continue working as usual,» says the President of Latvia Raimonds Vējonis.