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Monday 16.07.2018 | Name days: Hermīne, Estere

Latvia’s exports of chemical products increases

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn March 2014, exports value of goods at current prices grew by 7.3%, but imports value of goods – by 14.5%. In March Latvia exported goods in amount of EUR 855.4 million, but imported – in amount of EUR 1079.4 million.

In first three months of this year exports value of goods reached EUR 2 390.9 million, but imports value of goods – EUR 2 939.8 million.

Foreign trade balance slightly worsened as exports in total foreign trade value dropped to 44.2% (in February 2014 – 45.8%), according to provisional data of the Central Statistical Bureau of Latvia.

In March, as compared to February, exports of products of the chemical and allied industries grew by EUR 17.0 million or 35.5%: to Uzbekistan – by EUR 4.2 million or 2.2 times (mainly pharmaceutical products for retail trade were exported), to Finland – by EUR 3.9 million or 12.0 times (mainly biodiesel and mixtures thereof). But imports rose by EUR 28.0 million or 29.8%: from Poland – by EUR 5.7 million or 64.3%, from Denmark – by EUR 5.3 million or 2.3 times (mainly fungicides, herbicides, anti-sprouting products and plant-growth regulators were imported).

Main changes in exports in March, compared to February include: exports of mineral products increased by EUR 16.8 million or 30.2%; exports of wood and articles of wood grew by EUR 15.6 million or 11.2%; exports of vegetable products dropped by EUR 16.7 million or 25.7%; exports of basic metals and articles of basic metals decreased by EUR 7.9 million or 9.5%.

Main changes in imports in March, compared to February include: imports of vehicles and associated transport equipment increased by EUR 27.6 million or 60.3%; growth of imports of machinery and mechanical appliances; electrical equipment comprised EUR 22.9 million or 13.0%, imports of plastics and articles thereof increased by EUR 13.4 million or 28.9%, imports of mineral products dropped by EUR 5.2 million or 3.4%.

In March main export partners were Lithuania (16.1% of total export), Estonia (12.1%), Poland (8.1%), and Germany (6.9%), but main import partners were Lithuania (16.4% of total import), Germany (12.3%), Poland (11.3%) and Estonia (7.8%). Share of exports in trade with Russia comprised 9.4%, but in imports – 8.7%. Rise of exports of pharmaceutical products in March 2014, as compared to March 2013, was mostly affected by the increase in exports of pharmaceutical products for retail trade by EUR 7.4 million or 38.3%. But exports of iron and steel reduced rapidly as exports of iron and non-alloy steel bars decreased by EUR 31.7 million or 95.7%. Rise of imports of pharmaceutical products in March 2014, as compared to March 2013, was mostly affected by the increase in imports of pharmaceutical products for retail trade by EUR 9.9 million or 35.0%. In its turn, reduction of imports of mineral fuels, mineral oils and products of their distillation was influenced by decrease of imports of natural gas by EUR 44.0 million or 56.9% (imports only from Russia).


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