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Friday 21.10.2016 | Name days: Severīns, Urzula

Latvia’s export value increases 2.8%

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn October 2015, as compared to September, exports value of goods at current prices grew by 2.8%, but imports value of goods – reduced by 0.04%. In October Latvia exported goods in amount of EUR 992.8 million, but imported – in amount of EUR 1,081.5 million.

Foreign trade balance has slightly improved as exports in total foreign trade value increased to 47.9%, according to provisional data from the Central Statistical Bureau of Latvia.

Main changes in exports in October, compared to September included the following: exports of wood and articles of wood grew by EUR 18.6 million or 12.9%; exports of machinery and mechanical appliances; electrical equipment grew by EUR 17.3 million or 12.4%; exports of prepared foodstuffs grew by EUR 12.2 million or 16.5%; exports of basic metals and articles of basic metals fell by EUR 8.7 million or 9.8%; exports of vegetable products decreased by EUR 8.3 million or 5.9%.

Main changes in imports in October, compared to September included the following: imports of products of the chemical and allied industries declined by EUR 24.2 million or 19.7%; imports of basic metals and articles of basic metals dropped by EUR 6.8 million or 7.9%; imports of prepared foodstuffs reduced by EUR 6.2 million or 6.4%; imports of machinery and mechanical appliances; electrical equipment grew by EUR 32.3 million or 15.1%; imports of vehicles, aircraft, vessels and associated transport equipment increased by EUR 7.0 million or 7.6%.

In October, the main export partners in trade with the EU countries included Lithuania (17.3% of total export), Estonia (10.1%), Germany (7.3%) and Poland (6.1%); main import partners were Lithuania (17.0% of total import), Germany (11.9%), Poland (10.8%) and Estonia (8.0%).

Main partner in trade with third countries was Russia, the share of which in total exports of comprised 8.3 % Latvia in October, but in imports – 9.6 %. Increase in exports of oil seeds, oleaginous fruits, industrial or medicinal plants in October 2015, as compared to October 2014 was affected by growth in exports of rape and colza seeds of EUR 35.7 million or 7.7 times. But exports of beverages, spirits and vinegar reduced as exports of spirits dropped by EUR 21.6 million or 35.8 %.


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