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Monday 16.07.2018 | Name days: Hermīne, Estere

Russia's share in Latvia's export decreases

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Export value of goods at current prices decreased by 4.6%, while that of of import – by 4.1% in January 2013, compared to December of the previous year.

In January 2013 foreign trade balance slightly declined as export in total foreign trade dropped to 44.7% (in December 2012 – 44.8%), according to the Central Statistical Bureau of Latvia.

Main changes in export of January 2013, compared to December of the previous year, included an increase of export of wood and wooden goods, which comprised 15.8 million LVL or 21.6%. There was also an increase in export of base metals and metal goods – by 13.9 million LVL or 21.2%. Export of vegetation products was down 25.3 million LVL or 45.6%, while export of prepared foodstuffs dropped 18.6 million LVL or 31.1%.

Share of export to Russia dropped to 7.9% (in December of the previous year – 14.2%). The largest fall occurred in export of prepared foodstuffs – by 18.0 million LVL or 58.3% and in export of products of the chemical and allied industries – by 10.5 million LVL or 66.6%.

Main changes in import of January 2013, compared to December of previous year: import of base metals and articles of base metals increased by 12.4 million LVL or 20.4%. Import of transport vehicles reduced by 19.2 million LVL or 35.7%, and import of machinery and mechanical appliances; electrical equipment was down 24.3 million LVL or 18.2%.

In January 2013 most of Latvia’s exports went to the countries of the European Union (71.9%) and the CIS – 11.3%. Main export partners were Lithuania (15.8% of total export), Estonia (13.8%), Germany (7.9%), Russia (7.9%) and Poland (6.3%).

In January 2013 most of imports came from the countries of the European Union (72.7%), followed by the CIS – 19.0%. Main import partners were Lithuania (18.2% of total import), Russia (14.7%), Germany (9.3%), Poland (9.0%) and Estonia (7.9%).

Rapid growth in exports of cereals in January 2013, compared to January of previous year, was mostly influenced by an increase in exports of wheat and meslin – by 10.0 million LVL or 8.9 times. In its turn, exports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof decreased as exports of cars and other mechanical vehicles reduced by 7.6 million LVL or 68.2%.

In January 2013, compared to January of the previous year, import of iron and steel increased as import of flat rolled products of iron or non alloy steel grew by 5.5 million LVL or 4 times. In its turn, reduction of import of steam or other vapour generating boilers by 20.4 million LVL or by 99.9% significantly influenced the total import of machinery and mechanical appliances.


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