bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Ceturtdiena 13.12.2018 | Name days: Veldze, Lūcija
LatviaLatvia

Foreign trade turnover in Latvia increased by 12.4% in 2017

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUForeign trade turnover of Latvia at current prices reached EUR 25.42 billion – EUR 2.81 billion or 12.4 % more than in 2016. The exports value constituted EUR 11.39 billion (an increase of EUR 1.03 billion or 10.0 %), whereas the imports value – EUR 14.03 billion (an upturn of EUR 1.78 billion or 14.5 %).

In December 2017, the foreign trade turnover of Latvia amounted to EUR 2.14 billion, which at current prices was 6.8 % more than in December 2016, of which the exports value of goods was 7.3 % and imports value of goods was 6.4 % higher. In December, Latvia exported goods in the amount of EUR 951.9 million but imported – in the amount of EUR 1.19 billion. Compared to December 2016, foreign trade balance has improved slightly as exports in total foreign trade amount increased from 44.2 % to 44.4 %, according to data from the Central Statistical Bureau of Latvia.

Calendar and seasonally adjusted data at current prices show that, compared to December 2016, in December 2017 the exports value went up by 12.7 % and the imports value by 11.7 %, whereas, compared to the previous month, the exports value remained the same while the imports value increased by 4.2 %.

Main changes in exports in December 2017, compared to December 2016: exports of vegetable products up by EUR 40.2 million or 2.0 times; exports of prepared foodstuffs up by EUR 13.6 million or 15.1 %; exports of products of the chemical and allied industries up by EUR 10.8 million or 15.0 %; exports of mineral products up by EUR 9.1 million or 19.9 %; exports of optical instruments and apparatus (including medical); clocks and watches, musical instruments down by EUR 6.9 million or 24.1 %.

Main changes in imports in December 2017, compared to December 2016: imports of machinery and mechanical appliances; electrical equipment up by EUR 50.7 million or 20.8 %; imports of basic metals and articles of basic metals up by EUR 24.4 million or 30.2 %; imports of prepared foodstuffs up by EUR 15.0 million or 16.5 %; imports of vehicles, aircraft, vessels and associated transport equipment up by EUR 12.3 million or 11.4 %; imports of mineral products down by EUR 11.9 million or 11.5 %.

In December 2017, the main export partners of Latvia in trade with EU countries were Lithuania (17.6 % of total exports), Estonia (11.5 %), Germany (7.2 %) and Sweden (5.6 %), whereas the main import partners were Lithuania (17.4 % of total imports), Germany (11.4 %), Poland (8.7 %) and Estonia (8.3 %).

Russia was the main partner in trade with third countries; its share in total Latvian exports in December accounted for 10.7 %, whereas in imports – for 8.3 %.

The rise in the exports of cereals in December 2017, as compared to November 2016, was facilitated by an increase in the exports of wheat and meslin by EUR 29.0 million or 5.3 times. In turn, a drop was experienced in the exports of wood and articles of wood; wood charcoal as exports of fuelwood fell by EUR 9.7 million or by 30.1 %.The rise in the imports of machinery and mechanical appliances in December 2017, as compared to December 2016, was facilitated by an increase in the imports of turbojets, turbopropellers and other gas turbines by EUR 30.4 million.

In turn, a drop was experienced in the imports of mineral fuels, mineral oils and products of their distillation, as the imports of natural gas in gaseous state dropped by EUR 12.7 million or 41.2 %.

Ref: 225.109.109.952


Leave a reply

European Parliament ratifies EU-Japan Economic Partnership Agreement

On Wednesday, 12 December, gave green light for EU-Japan Economic Partnership Agreement, which is EU’s all-time largest mutual trade agreement.

Businessman Māris Martinsons brought to court. What will the court decide?

Businessman Māris Martinsons has been brought to testify in court. As it is known, he was detained by Corruption Prevention and Combating Bureau on 11 December.

Employers become more open to 3rd level pension contributions

Employers in Latvia have begun making more active contributions to 3rd level pension plans. Residents’ interest towards crating pension savings continues growing, too. Compared to the period of last year, the size of contributions to private pension funds has increased 10% in the first nine months of 2018.

Polish PM to call confidence vote

Polish head of government has voiced plans to call for a confidence vote to test parliamentary support for the ruling Law and Justice party cabinet.

30 searches and 8 detainees in Rīgas satiksme criminal case

In November 2018, Corruption Prevention and Combating Bureau commenced a criminal process in relation to procurements performed by Riga municipality’s SIA Rīgas satiksme. More than thirty searches were performed as part of the criminal process on Tuesday, 11 December.

Lithuania adopts budget, not raising pay to protesting teachers

The Lithuanian Seimas has passed the state budget for 2019, which includes more funds for defence, while not taking into account the funding demands of striking teachers.

Corruption watchdog detains Rīgas satiksme official Igors Volkinšteins

Latvia’s Corruption Prevention and Combating Bureau has detained municipal company Rīgas satiksme’s Infrastructure Maintenance and Development Department’s director Igors Volkinšteins.

Court: Estonia's ruling party fails to avoid repayment of 220 000 euro donation

Centre Party, which is the ruling political force in the Estonian central government and in the capital Tallinn, has failed to overturn a decision that ordered it to repay an illegally received donation of 220 000 euros, according to a ruling of the Estonian Supreme Court.

Minister: Brexit cannot be a reason to reduce cohesion volume for next EU multi-year budget

«Brexit cannot serve as a reason to reduce the volume of direct payments in cohesion and common agriculture policy in the next European Union’s multi-year budget,» says Latvian Foreign Affairs Minister EdgarsRinkēvičs.

British conservatives mobilise for no-confidence vote against PM May

Angered by the decision to defer the Brexit deal ratification vote in the British parliament, fellow members of the British Conservative Party are rallying support for a no-confidence vote to remove Prime Minister Theresa May from power.

Corruption watchdog performs searches at Riga City Council

Latvian Corruption Prevention and Combating Bureau has performed a search at Riga City Council, as confirmed by Riga Vice-Mayor Andris Ameriks.

France searches for Strasbourg gunman after shooting attack

In France, large numbers of police are involved in the search for a gunman, who has killed three people and injured 12 more in Strasbourg.

Latvian president announces amendments to divert EUR 8.3 million for EMS

Latvian President Raimonds Vējonis has announced amendments for the Saeima’s Law on Budget and Financial Management to include diversion of EUR 8.3 million to the Emergency Medical Service, as mentioned in the official publication in Latvian Herald.

New Unity representative mentioned as possible compromise prime minister candidate

During their meetings with Latvian President Raimonds Vējonis, representatives of certain parties mentioned New Unity leader Krišjānis Kariņš as a potential prime minister candidate, according to information from LTV.

Access to KGB documents will require personal code

On Tuesday, 11 December, Latvian government approved changes to the Cabinet of Ministers requirements, introducing the order under which access to KGB documents published on the website of Latvian National Archive will be provided to those interested in them, as reported by Culture Ministry.

Laureate of the Nobel Peace Prize calls for action against sexual violence

The laureate of the Nobel Peace Prize 2018, a doctor from Congo, has urged the international community act against sexual violence at war and consumers to be responsible, when buying electronic products, including smartphones.

Saeima to not view draft on halting Bank of Latvia governor’s authority

On Tuesday, 11 December, Latvian Saeima’s Budget and Finance Committee decided not to proceed with 12th Saeima’s proposed amendments to the Law on the Bank of Latvia that provide the option for halting the powers of the governor of the Bank of Latvia for the duration of criminal processes.

Exports in Latvia up 13.3% in October

In October 2018 the foreign trade turnover of Latvia amounted to EUR 2.66 billion, which at current prices was 13.3 % more than in October 2017, of which the exports value of goods was 6.8 % and imports value of goods was 18.8 % higher.

Estonia sees rise in fire victims, as flats more prone to lethal fires

The death toll of fires in Estonia in 2018 has surpassed that of the two previous years in the past eleven months with all lethal fires occurring in flats this year. On the upside, from January to November 2018, a total of 74 people have been rescued from fires.

Pharmacy owners: compensated medicines should be supplied with reserves

Medicine manufacturers should supply state compensated medicines with a small reserve, says chairman of Pharmacy Owners Association Jānis Lībķens.

Estonia urges EU to react with actions against Russia's aggression

Dangerous behaviour by Russia in neighbouring countries must be met with concrete steps, Estonian Foreign Ministrer Sven Mikser has stated after a sitting of the EU Foreign Affairs Council, which included a meeting with Ukrainian Minister of Foreign Affairs Pavlo Klimkin.

Latvia submits report to UN on elimination of discrimination of women

The United Nations Organization has been presented with Latvia’s report on compliance with Convention on the Elimination of All Forms of Discrimination Against Women, as reported by Foreign Affairs Ministry.

May defers doomed Brexit vote, rushes to European capitals

British Prime Minister Theresa May will visit Germany's Angela Merkel Tuesday as she works to salvage her Brexit deal, the day after delaying a parliamentary vote on it to avoid a crushing defeat.

Latvian politicians still see way to agree on new government

In spite of the failed second attempt at forming a government, Latvian politicians say there are still ways they can reach an agreement. At the same time, parties maintain their respective red lines, according to representatives of parties.

Marcon makes tax concessions, 'yellow vests' calling for continued protests

French President Emmanuel Macron, seeking to calm the 'yellow vest' mass protests, has made major tax and pay concessions, but plans to keep his climate-saving policy straight.

Newest comments