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Friday 18.08.2017 | Name days: Liene, Helēna, Elena, Ellena, Liena

Latvia’s exports of cereals on a rise

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn September 2014, compared to previous month, exports value of goods at current prices grew by 12.7%, but imports value of goods – by 15.2%. In September Latvia exported goods in amount of 914.0 million EUR, but imported – in amount of 1,138.2 million EUR. Foreign trade balance slightly worsened as exports in total foreign trade value declined to 44.5% (in August 2014 – 45.1%).

In September export of vegetable products, compared to August, under the influence of seasonality increased by 37.7 million EUR or 2.4 times. Export of vegetable products was mostly impacted by rise of export of wheat and meslin, and brans – by 32.9 million EUR or 10.7 times. In September it was mostly exported to Iran – 13.5 million EUR, Spain – 8.0 million EUR, Turkey – 6.5 million EUR and Denmark – 2.7 million EUR.

Main changes in exports in September, compared to August: exports of prepared foodstuffs rose by 18.3 million EUR or 22.4%; exports of products of the chemical and allied industries grew by 11.2 million EUR or 19.9%; exports of mineral products increased by 10.4 million EUR or 13.9%; exports of basic metals and articles of basic metals reduced by 3.1 million EUR or 3.9%.

Main changes in imports in September, compared to August include: imports of vehicles and associated transport equipment increased by 26.9 million EUR or 54.4%; imports of machinery and mechanical appliances; electrical equipment grew by 25.3 million EUR or 12.8%; imports of mineral products rose by 18.7 million EUR or 12.6%; imports of products of the chemical and allied industries grew by 14.2 million EUR or 15.4%; imports of textiles and textile articles increased by 10.7 million EUR or 20.8%.

In September main export partners were Lithuania (19.4% of total export), Estonia (11.8%), Germany (6.5%) and Poland (5.2%), but main import partners were Lithuania (18.5% of total import), Germany (10.8%), Poland (10.6%) and Finland (7.3%).

Main partner in trade with third countries was Russia, the share of which in total exports of Latvia in September comprised 12.4%, but in imports – 7.5%.

Rise of exports of alcoholic and non-alcoholic beverages in September 2014, as compared to September 2013, was affected by the increase in exports of spirits by 11.8 million EUR or 32.6%. In turn, exports of iron and steel dropped as exports of waste and scrap of cast iron decreased by 12.7 million EUR or 66.9%. Rise of imports of iron and steel in September 2014, as compared to September 2013, was mostly affected by the increase in imports of flat rolled products of iron and non-alloy steel of 4.7 million EUR or 27.9%. In its turn, reduction of imports of mineral fuels, mineral oils and products of their distillation was influenced by decrease of imports of diesel oil by 15.5 million EUR or 13.6%.


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