Latviski English По-русски
Friday 18.01.2019 | Name days: Antis, Antons

Latvia’s exports increased 7% in November 2018

(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn November 2018 Latvian foreign trade turnover amounted to EUR 2.47 billion, which at current prices was 7 % more than in November 2017, of which the exports value of goods was 5.2 % and imports value of goods was 8.6 % higher.

In November, Latvia exported goods in the amount of EUR 1.17 billion, but imported in the amount of EUR 1.3 billion. Compared to November 2017, foreign trade balance has worsened as exports in total foreign trade amount decreased from 48.1 % to 47.3 %, according to provisional data from the Central Statistical Bureau of Latvia.

Over eleven months of 2018, the foreign trade turnover of Latvia at current prices reached EUR 25.64 billion – EUR 2.25 billion or 9.6 % more than in the corresponding period of 2017. The exports value comprised EUR 11.4 billion (an increase of EUR 844.8 million or 8 %), whereas the imports value – EUR 14.24 billion (an upturn of EUR 1.4 billion or 10.9 %).

Calendar and seasonally adjusted data show that, compared to November 2017, in November 2018 the exports value at current prices went up by 4.3 % and the imports value by 9.1 %, whereas, compared to the previous month, the exports value increased by 3.5 %, but the imports value – reduced by 7.5 %.

Main changes in exports in November 2018, compared to November 2017, included the following: exports of machinery and mechanical appliances; electrical equipment up by EUR 45.1 million or 26.2 %; exports of wood and articles of wood up by EUR 25.8 million or 14.8 %; exports of prepared foodstuffs up by EUR 11.6 million or 9.8 %; exports of products of the chemical and allied industries up by EUR 10.9 million or 13.7 %; exports of vegetable products down by EUR 54.5 million or 44.9 %.

Main changes in imports in November 2018, compared to November 2017, included the following: imports of basic metals and articles of basic metals up by EUR 24.1 million or 26.8%; imports of mineral products up by EUR 20.3 million or 21.8 %; imports of products of the chemical and allied industries up by EUR 18.2 million or 15.3 %; imports of wood and articles of wood up by EUR 17.4 million or 43.5 %; imports of vehicles, aircraft, vessels and associated transport equipment down by EUR 14.3 million or 11.7 %.

In November, the main export partners of Latvia in trade with EU countries were Lithuania (16.1 % of total exports), Estonia (11.6 %), Sweden (8.2 %) and Germany (6.6 %), whereas the main import partners were Lithuania (17.7 % of total imports), Germany (11.4 %), Poland (9 %) and Estonia (8.2 %).

Main partner in trade with third countries was Russia, share of which in total exports of Latvia in November comprised 11.2 %, but in imports – 7.8 %.

The rise in the exports of machinery and mechanical appliances in November 2018, as compared to November 2017, was facilitated by an increase in the exports of turbojets, turbopropellers and other gas turbines by EUR 20.5 million. But exports of cereals reduced as exports of wheat and meslin decreased by EUR 52.0 million or 67.6 %.

Rise of imports of iron and steel in November 2018, as compared to November 2017, was mostly affected by the increase in imports of flat rolled products of iron and steel of EUR 11.1 million or 79.9%.  In turn, decline in imports of tractors of EUR 6.9 million or 52.9 % significantly influenced the total imports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof.

Leave a reply

New Unity’s candidate to continue talks with partners on government declaration over weekends

New Unity’s prime minister candidate Krišjānis Kariņš plans to continue working on the government declaration, cooperation agreement and fiscal discipline agreement over Saturday, 19 January, as confirmed by New Unity’s press-secretary Sandris Sabajevs.

Head of Riga City Council’s committee reports results of non-existent vote; dismissal follows

As the chairperson of Riga City Council’s Social Affairs Committee, Olga Veidiņa from Harmony, submitted a written report to the mayor, detailing how all members of her committee had allegedly voted in favour of paying a bonus to Orphan Court chairman Aivars Krasnogolovs even though such a topic was never discussed by this committee, BNN was told by opposition deputy Marija Balcere from New Conservative Party.

1991 Barricades commemoration events in Latvia

One of the most notable chapters in Latvia’s newest history was written in January 1991 – the barricades period, when Latvian residents commemorate the victims and feel pride for the bravery of the nation in defending their country’s freedom.

MEP: Britain’s non-exit from EU is no longer possible

It is no longer possible for Britain to stay in the European Union. Even British politicians who have spoken against Brexit admit as much, said Latvian MEP Roberts Zīle in an interview to Rīta panorama.

Dismissal of Nils Ušakovs alone would not change a thing in Riga

«No change will come without dismissal of Riga City Council and its subsequent re-election. Activities that point towards the possibility of corruption did not appear solely during the term of the current team at Riga City Council. Its roots date a long way to the past. This means cleaning and general disinfection efforts should be very thorough. Dismissing Nils Ušakovs alone would not help change a thing. Ušakovs both maintains and serves the system,» said opposition deputy Jānis Ozols in a conversation with BNN.

Proposal to make ports state capital association faces no major objections in Latvia

No major objections have been voiced so far against transport minister candidate Tālis Linkaits’ proposal on reforming ports as state capital associations.

Latvia’s forming coalition promises to be more open to opposition

The forming coalition in Latvia may consider proposals from the opposition and even support the more constructive of them, said prime minister candidate Krišjānis Kariņš in a conversation with journalists on Thursday, 17 January.

Air temperature in Latvia may drop as far as -21° C next week

After the windiest and snowiest week, as anticyclone activity increases, weather in Latvia will become more stable – it will become drier and considerably colder.

Lithuania’s ruling majority swings at media freedom, experts warn

All media, the so-called fourth authority of power, has been facing some international challenges, with the European Parliament set to vote next Monday on final text of Article 13, the proposed EU directive on copyright, which, if implemented, could censor internet users and internet platform hosts through artificial intelligence-employing filters.

Riga Active Seniors Alliance: seniors’ behaviour on the road should be discussed

Riga Active Seniors Alliance supports Latvian State Police informative safety campaign that addresses the behaviour of pedestrians on the road. This campaign invites seniors to pay attention to their own behaviour to ensure safe movement without putting at risk other traffic participants.

New healthcare service principle’s adoption in Latvia postponed until July

The rights to receive healthcare services as part of state compulsory healthcare regardless of their health insurance contributions will remain available for residents until 30 June 2019, Latvian Saeima has decided.

150 jobs lost in Estonia as polluting power stations reduce operations

Estonian state energy giant Eesti Energia, which mostly generates energy from fossile oil shale plants will reduce its operations at the Narva power plants, resulting in 150 job cuts.

Opinion: Russia will definitely interfere with European Parliament elections

According to Latvian member of the European Parliament Inese Vaidere, Russia will definitely attempt to interfere with upcoming European Parliament elections.

In no-deal Brexit, border control in Ireland would be obligatory

In an interview with the British news portal The Guardian, Michael Lux, a former head of customs legislation and procedures at the European commission, said the UK would have to impose customs checks and tariffs on the northern side of the border, despite claims to the contrary by Brexiters.

Opinion: Daugavpils City Council doesn’t want emergency elections; to agree on new mayor

Daugavpils City Council deputies Rihards Eigims and Andrejs Elksniņš are afraid of voters’ opinion in regards to emergency elections. Because of that, they will agree on the next mayoral candidate at the 17 January meeting, said Latgale party representative Jānis Lāčplēsis.

Scientists suggest sustainable diet to save the planet and prevent premature deaths

An international group of 37 scientists has developed a diet that promises to save lives, feed 10 billion people and all without causing catastrophic damage to the planet.

Latvian parties taking too long on compiling government cooperation documents

Although work on the new government’s cooperation documents has taken more time than initially expected, Latvian prime minister candidate Krišjānis Kariņš still hopes for the government to be approved next week.

Ministry: more children end up in families in Latvia not through foster families or guardians

More and more children in Latvia end up in families not through adoption, but through foster families or guardians, says Welfare Minister’s office manager Linda Baļčūne.

Estonian population continues to increase, mostly due to immigration

Estonia has registered population growth for the third consecutive year as 4,690 more persons lived in the Baltic country on January 1, 2019 than a year before, official statistics show.

Sweden to nominate head of government, who could finally be confirmed

In the Swedish parliament, three parties have stated they would not vote against caretaking Prime Minister Stefan Löfven to have another attempt to form a center-left government after a four-month political crisis.

In 2018 Latvia experienced more rapid growth of car registrations than EU

Last year the number of newly registered cars in Latvia was higher than the average in the European Union, according to the latest data from European Automobile Manufacturers' Association.

Latvian government prepares legislation to protect rights of Latvian in Britain after Brexit

Latvian government has started working on a document that provides for the protection of rights of Latvian citizens working in Britain and vice versa after Brexit, says Latvian Foreign Affairs Minister Edgars Rinkēvičs.

Karolis Sankovski appointed as chairman of RB Rail council

A new council chairman has been appointed in Baltic joint company RB Rail. Riia Sillave and Edvīns Bērziņš were picked as vice-chairmen, as the company reports.

airBaltic carried record number of passengers in 2018 – 4.1 million

Latvian airBaltic airline carried a total of 4,136,711 passengers to different destinations in 2018. This is 17% more when compared to 2017. The number of passengers carried in 2018 is airBaltic’s all-time highest, as BNN was told by the company.

KPV LV to decide on dismissing Kaimiņš as vice-chairman of party’s faction

KPV LV party’s Saeima faction plans to discuss the proposal of dismissing Artuss Kaimiņš from the post of the faction’s vice-chairman.