bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Sunday 15.07.2018 | Name days: Henriks, Henrihs, Egija, Egmonts, Egons
LatviaLatvia

Foreign trade turnover in Latvia was 1.9 billion euros in April

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn April 2017 Latvian foreign trade turnover amounted to EUR 1.88 billion, which was 0.5 % higher than in April 2016, and the exports and imports values of goods were 1.0 % and 0.2 % higher, respectively.

In April, Latvia exported goods in the amount of EUR 859.6 million, and imported goods in the amount of EUR 1.02 billion. The foreign trade balance improved slightly, as exports in the total foreign trade value increased up to 45.7 % (in April 2016 – 45.5 %), according to data from the Central Statistical Bureau of Latvia.

During the first four months of the present year, the foreign trade turnover of Latvia at current prices reached EUR 7.67 billion – EUR 647.3 million or 9.2 % more than in the corresponding period of 2016. The exports value constituted EUR 3.46 billion (an increase of EUR 250.7 million or 7.8 %), whereas the imports value comprised EUR 4.21 billion (an upturn of EUR 396.7 million or 10.4 %).

Main changes in exports in April 2017, as compared to April 2016, included the following: exports of base metals and articles of base metals up by EUR 21.4 million or 31.1 %; exports of products of the chemical and allied industries up by EUR 8.3 million or 12.4 %; exports of prepared foodstuffs up by EUR 8.1 million or 12.9 %; exports of machinery and mechanical appliances; electrical equipment down by EUR 11.0 million or 7.0 %; exports of wood and articles of wood down by EUR 9.7 million or 6.1 %.

Main changes in imports in April 2017, compared to April 2016, included the following: imports of mineral products up by EUR 14.6 million or 19.4 %; imports of prepared foodstuffs up by EUR 6.1 million or 7.7 %; imports of live animals and animal products up by EUR 6.0 million or 18.8 %; imports of vehicles, aircraft, vessels and associated transport equipment down by EUR 13.6 million or 12.8 %; imports of machinery and mechanical appliances; electrical equipment down by EUR 6.5 million or 3.0 %.

In April, the main export partners in trade with EU countries were Lithuania (17.4 % of total exports), Estonia (12.0 %), Sweden (6.9 %) and Germany (6.5 %), whereas the main import partners were Lithuania (19.2 % of total imports), Germany (11.6 %), Poland (9.6 %) and Estonia (8.0 %).

Russia was the main partner in trade with third countries; its share in total Latvian exports in April accounted for 8.2 %, whereas in imports – for 6.1 %.

Growth in the exports of iron and steel in April 2017, as compared to April 2016, was facilitated by an increase in the exports of ferrous waste and scrap (of EUR 15.7 million or 8.2 times). In turn, exports of machinery and mechanical appliances reduced, as exports of computers and components thereof dropped by EUR 8.5 million or 61.0 %.

Growth in the imports of iron and steel in April 2017, as compared to April 2016, was facilitated by an increase in the imports of flat-rolled products of iron and non-alloy steel (of EUR 2.3 million or 12.0 %). In turn, the drop in imports of miscellaneous chemical products was mainly influenced by a decline in the imports of insecticides, fungicides, herbicides and similar products (of EUR 10.9 million or 45.3 %).

Ref: 225.109.109.5103


Leave a reply

Week in Lithuania. Lithuania's Tripartite Council fails to reach agreement

Lithuania's Tripartite Council on Tuesday, July 10, failed to reach agreement on raising the minimum wage. Employers are inclined to back the government's proposal to raise the minimum pay to 420 euros. Meanwhile, trade unions want it increased to 450 euros.

BNN summary of the week: NATO to increase and ABLV Bank loses its license

BNN offers a summary of this week’s topical news in a variety of categories: Future; Deal; Fight; Decline; Decision; Opinion.

SEB Bank to unite life insurance companies working in Baltic States

SEB Bank will unite life insurance companies working in Baltic States, BNN was told by SEB Bank’s representative Agnese Strazda.

Saeima deputy Askolds Kļaviņš becomes suspect in criminal case

Saeima deputy from the Union of Greens and Farmers Askolds Kļaviņš has been made a suspect in the criminal case regarding abuse of official power.

Minister: E-health system has stabilized, but improvements are still needed

Functionality of the E-health portal has stabilized. Disconnection errors have ceased. Nevertheless, we have to continue improving the system further, said Latvian Healthcare Minister Anda Čakša said in an interview to Rīta panorama programme of LTV.

Six to eight Finance and Capital Market Commission officials may work at ABLV Bank

Six to eight FCMC trusties may work at the liquidated ABLV Bank, says Finance and Capital Market Commission chairman Pēters Putniņš.

Latvia’s Cabinet of Ministers receives expanded draft on deposit system

Environment Protection and Regional Development Ministry has submitted to the Cabinet of Ministers an expanded legislative draft regarding amendments to the Packaging Law and Environment Protection Law for their review in the State Chancellery, as confirmed by the ministry’s representatives.

Latvia will not escape talks on increasing defence spending

It is necessary to develop Latvia’s defensive capabilities. Because of that, Latvia cannot escape talks on increasing defence spending to more than 2% of GDP, said Defence Minister Raimonds Bergmanis, who is participating in the NATO summit in Brussels.

Russia extends food product embargo until end of next year

On Thursday, 12 July, Russian President Vladimir Putin decided to extend the embargo on food product imports from countries of the European Union and other countries until the end of next year.

Heat in Latvia to remain for longer; thunderstorms and heavy rain expected, as well

Next week in Latvia will be appropriately hot for summer, as air temperature is expected to reach +30° C at times. Nevertheless, most of Latvia will experience rain and thunderstorms, as reported by State Environment, Geology and Meteorology Centre.

US President announces «tremendous amount of progress» in defence spending matter

On Thursday, 12 July, US President Donald Trump announced having achieved a great deal of progress in the NATO member states’ defence spending matter during the summit.

Providus: it is impossible for Latvian parties to attract large funding honestly

«If we look at political parties’ ability to attract funding from large companies, for example, conclusions are rather sad – there is no way for parties in Latvia to attract funding in an honest way,» Providus think tank researcher Iveta Kažoka said in an interview to BNN.

Study: Latvian residents rely on knowledge and hard work rather than luck

30% of Latvia’s residents believe company success formula relies on decade-long work and significant profits, as well as employee satisfaction, according to the latest Latvian Barometer study of Baltic International Bank.

Competition Council warned 34 persons for possible cartel agreements this year

In the first half-year of 2018 the Competition Council warned 34 persons about possible cartel agreements in six possible violation episodes. Affected companies work in three sectors – burial, security and driving school services.

European Commission predicts 9% lower wheat harvest for Latvia this year

According to estimates from the European Commission, Latvia’s wheat harvest is likely to be 9% below that of last year, according to information from Agriculture Ministry’s Market and Direct Support Department.

ECB revokes Latvian ABLV Bank’s credit institution license

European Central Bank has decided to revoke Latvian ABLV Bank’s license, as confirmed by Finance and Capital Market Commission.

US President asks allies to increase defence expenditures to 4% of GDP

During NATO summit in Brussels US President Donald Trump told leaders of participating member states that they have to increase their expenditures on defence to 4% of GDP.

NATO agrees to station multinational division North headquarters in Latvia

In accordance with an agreement reached by Denmark, Latvia and Estonia, it has been decided to station the headquarters of NATO’s multinational division North at Ādaži base, as confirmed by Latvia’s Foreign Affairs Minister Edgars Rinkēvičs.

President vetoes two bills over consecutive days, still enjoys high support

Lithuanian President Dalia Grybauskaitė has used her presidential powers in full swing this week, vetoing two bills over two consecutive days. First the head-of-state vetoed amendments paving the way for a far-reaching overhauling of the country‘s healthcare facilities. And the next day, on Wednesday, July 11, she scrapped amendments to the Referendum Law, which, if implemented, would have lowered the threshold for a dual citizenship referendum. President cautioned that the bill was potentially not in compliance with the Constitution.

Competition Council permits merging of two energy wholesale traders and producers

On 4 July, Latvia’s Competition Council decided to permit the merging deal as a result of which Enefit Green AS will gain decisive influence over Nelka Energia AS by purchasing 100% of the company’s shares. Permission was given because the merge is not expected to have a major impact on competition on the market, the council explains.

Riga mayor’s Ligo congratulation cost taxpayers more than EUR 15,000

The broadcast of Riga Mayor Nils Ušakovs’ Ligo congratulation by media cost EUR 15,211, as confirmed by Riga City Council deputy Vilnis Ķirsis.

Police requested prosecution for 50 insolvency administrators in past several years

Since 2016, Latvia’s State Police have received several hundred reports regarding possible illegalities during insolvency processes. Over the course of the last two years, police have asked the prosecutor’s office to commence criminal prosecution of 50 insolvency administrators.

External trade turnover in Latvia grew 9.6% in May

In May 2018 foreign trade turnover of Latvia amounted to EUR 2.32 billion, at current prices constituting 9.6 % more than in May 2017, of which exports value of goods rose by 8.5 % and imports value of goods by 10.4 %.

Will funding volumes remain the same for culture after Latvia’s centenary?

Latvia should continue investments in Song and Dance Celebration infrastructure, said Culture Minister Dace Melbārde in an interview to LNT.

Prosecutor’s office ends case on OCMA official’s involvement in fictive marriage organization

The Prosecutor General’s Office has ended the case launched against and official of the Office of Citizenship and Migration Affairs, who was allegedly involved in organization of fictive marriages, as reported by LNT News on Tuesday, 10 July.