bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Ceturtdiena 17.10.2019 | Name days: Karīna, Gaits
LatviaLatvia

Value of Latvia’s exported goods drops 2.1% in August

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn August 2019 the foreign trade turnover of Latvia amounted to EUR 2.37 billion, which at current prices was 9.5 % less than in August 2017, of which the exports value of goods was 2.1 % lower, but imports value of goods – 15.1 % lower.

In August, Latvia exported goods in the amount of EUR 1.1 billion, but imported in the amount of EUR 1.28 billion. Compared to August 2018, foreign trade balance has improved as exports in total foreign trade amount increased from 42.7 % to 46.3 %, according to data compiled by the Central Statistical Bureau of Latvia.

Over the first eight months of this year, the foreign trade turnover of Latvia at current prices reached EUR 18.65 billion – EUR 131.3 million or 0.7 % more than in the corresponding period of 2018. The exports value constituted EUR 8.32 billion (an increase of EUR 31.7 million or 0.4 %), whereas the imports value – EUR 10.33 billion (an upturn of EUR 99.6 million or 1 %).

Calendar and seasonally adjusted data show that, compared to August 2018, in August 2019 the exports value at current prices went down by 0.5 % and the imports value – by 13.2 %, whereas, compared to the previous month, the exports value went up by 1.7 %, but the imports value – reduced by 2.8 %.

Main changes in exports in August 2019, compared to August 2018, included the following: exports of vegetable products up by EUR 63.7 million or 2.1 times; exports of products of the chemical and allied industries up by EUR 19.2 million or 27.7 %; exports of machinery and mechanical appliances; electrical equipment down by EUR 43.9 million or 20.1 %; exports of wood and articles of wood down by EUR 31.6 million or 15 %; exports of vehicles and associated transport equipment down by EUR 17.1 million or 24.1 %.

Main changes in imports in August 2019, compared to August 2018, included the following: imports of textiles and textile articles up by EUR 7.7 million or 15.8 %; imports of mineral products down by EUR 112.6 million or 41.8 %; imports of vehicles, aircraft, vessels and associated transport equipment down by EUR 70.3 million or 41.9 %; imports of machinery and mechanical appliances; electrical equipment down by EUR 43.2 million or 15.4 %; imports of basic metals and articles of basic metals down by EUR 15.5 million or 13.7 %.

In August, the main export partners of Latvia in trade with EU countries were Lithuania (18 % of total exports), Estonia (11.2 %), Germany (7.6 %) and Sweden (6.6 %), whereas the main import partners were Lithuania (20.3 % of total imports), Germany (10.4 %), Poland (9.3 %) and Estonia (8.4 %). Russia was the main partner in trade with third countries; its share in total Latvian exports in August accounted for 10.2 %, whereas in imports – for 7.9 %.

In August 2019, compared to August 2018, share of the European Union countries in Latvian foreign trade grew – by 0.5 percentage points in the total exports value and by 9.6 percentage points in the imports value. Rise in share of CIS countries comprised 1.5 percentage points in exports and drop of 4.1 percentage point in imports.

In August 2019 foreign trade balance of Latvia was positive with 114 partner countries, as exports value of goods exceeded imports value of goods. It was negative in trade with 44 countries.

The rise in the exports of cereals in August 2019, as compared to August 2018, was facilitated by an increase in the exports of wheat and meslin by EUR 52.9 million or 4.1 time. But exports of machinery and mechanical appliances reduced as exports of turbojets, turbopropellers and other gas turbines dropped by EUR 51.1 million.

Rise of imports of iron and steel in August 2019, as compared to August 2018, was mostly affected by the increase in imports of articles of iron and steel for railways and tramways of EUR 2.4 million or 10.7 %. In its turn, reduction of imports of mineral fuels, mineral oils and products of their distillation was mostly influenced by decrease of imports of natural gas in the gaseous state by EUR 73.8 million or 66.1%.


Leave a reply

Latvia decides: Non-citizen children to receive citizenship from 2020

The Latvian parliament passed in the final reading on Thursday, October 17, the draft law that sets forth granting citizenship to new-born children of the non-citizens of Latvia.

Drugstores should focus on health care over money-making, Estonian Minister says

As Estonia is working on a pharmacy regulation reform aimed at reducing the influence of drug wholesalers on pharmacies, Estonian Social Affairs Minister Tanel Kiik has said pharmacy services ought to be focused on healthcare instead of business.

Confiscated EUR 29 mln: Latvia waiting for evidence from Ukraine

As Ukraine seeks to recover from Latvia 29 million euros that have been confiscated by a Latvian court, Ukraine has to provide evidence as it has promised to do, according to Latvian President Egils Levits.

E-commerce for prison inmates considered in Estonia

Estonian prisoners could be allowed to buy products using rather than using current prison shops, such is the option considered at the country’s Centre of Registers and Information Systems.

Riga to keep cooperating with ticket servicing firm, allocating EUR 20.6 mln

Rīgas satiksme, the transport company of the Latvian capital, will not terminate cooperation with SIA Rīgas karte, meaning that the population would pay 20.6 million euros for it.

Video: Evacuation in Lithuania amid fire at tyre recycling plant

Alytus in southern Lithuania was hit by a cloud of black smoke from a fire at a large tyre recycling plant. A hospital nearby has been evacuated.

Von der Leyen’s commission postponed after three commissioner candidates rejected

The next European Commission is to begin its term in office later than expected as the November 1 coronation has been postponed so that three member states could offer new candidates to replace a trio rejected by the European Parliament.

Probing infections in Latvia, salmonella found in meat from Poland

As infection outbreaks in Latvia are under investigation, laboratory tests showed salmonella bacteria in Polish-origin poultry samples taken from SIA Gaļsaimnieks.

Germany to allow Huawei equipment on 5G networks

The Chinese tech giant Huawei will not be banned from the 5G mobile networks in Germany as Berlin stated it wants to create «a level playing field» for vendors.

OECD: Bribery prevention results in Latvia disproportionate to cross-border risks

Latvia’s results in fighting bribery are still disproportionate with the risks of cross-border bribery and money laundering the country is subjected to, says the Working Group on Bribery of the Organisation for Economic Co-operation and Development.

In pictures: Ukrainian President Zelenskiy in Latvia

Ukrainian President Volodymyr Zelenskiy and the Ukrainian first lady made an official visit to Latvia on Wednesday, October 16.

airBaltic not planning to cancel flights with Airbus A220

airBaltic does not plan to reduce its flights with the Airbus A220-300 plane, after Swiss International Air Lines decided to do this being concerned over the aircraft’s engine problems, according to a statement of the Latvian airline on social media.

PM Kariņš recommends spending confiscated EUR 29 mln as single investment

Latvian Prime Minister Krišjānis Kariņš has recommended the 29 million euros confiscated by the Riga Regional Court for being criminally-acquired to be spent on a one-off investment, according to an interview to LNT programme 900 sekundes.

Latvian security service develops terrorism financing prevention strategy

The Latvian State Security Service (VDD) has prepared its Strategy for the Prevention of Terrorism Financing 2019-2021 with its goal being improvements of the system of preventing such financing, developing Latvia’s abilities to fight such illegal attempts and to improve the country’s reputation in foreign financial markets.

Estonian President sends invitation to Russian President

Estonian head of state Kersti Kaljulaid has invited her Russian counterpart Vladimir Putin to visit the Baltic country during a gathering of Finno-Ugric peoples in 2020.

Riga transport company needs additional 2.9 million euros

Rīgas satiksme, the transport company of the Latvian capital, will request from the municipal budget an additional allocation of 2.9 million euros, said Rīgas satiksme’s council chairman in an interview with Latvijas radio.

Government decides: Latvia will have 39 municipalities

The Latvian government has backed the draft Law on Administrative Territories and Populated Places that sets forth cutting the number of municipalities in Latvia from 119 to 39.

Rail Baltica: In rebuilding of Riga Central Station deadlines and quality are key

In Rail Baltica, the new railway project, the rebuilding of the Riga Central Station is planned, where meeting deadlines and quality are key, said the head of Eiropas dzelzceļa līnijas, the company responsible for the project in Latvia, commenting on how the project could be affected by involved builders ReRe grupa being under the scrutiny of the Corruption Prevention and Combating Bureau and the Competition Council.

Deal or extension? Last day of Brexit talks on before decisive EU summit

The Brexit delegations from London and Brussels are on Wednesday, October 16, spending their last day of talks before a key European Union summit intended either to discuss a potential deal or to decide on an extension of the Brexit process.

Exclusive | Latvian MP: Top justice figures, Bičkovičs and Kalnmeiers, working like this in private sector, would be sacked long ago

The Moneyval report has told us not only that Latvia is unable to deal with financial crimes, but also that long court cases are under scrutiny. It is about the scale of money laundering – branding us a major power of money laundering. The expert committee also has questions: where are the guilty ones and where are the sentencing rulings? «The same Lembergs’ case; believe me, Moneyval is observing carefully, how it’s going forward,» MP Gatis Eglītis (NCP), the head of the Financial Sector Supervision Committee of Saeima Budget and Finance (Taxation), said in an interview with the BNN.

Latvian medical workers to hold unprecedented protests against funding cuts

Latvian Trade Union of Health and Social Care Workers has decided to hold protests it calls unprecedented against state budget plans that would result in reduced funding for health care, according to the LVSADA Council.

History repeating: Lemberg’s-linked medium recalls false news about Meroni

Once again, a medium linked to the criminally-accused Latvian politician Aivars Lembergs has been forced to admit its lies and to recall its unfounded claims directed at lawyer Rudolf Meroni. This time the recall has been published by Neatkarīgā Rīta Avīze daily.

Unity: Riga City Council tries to retain structure of Riga.lv despite liquidation

In the Riga City Council, opposition Unity faction fears a near-million increase of the municipality’s Public Relations Division could be coming in city budget effectively to transfer the structure of Riga.lv, the foundation up for liquidation.

Latvian minister: System wants its people as Prosecutor General, top court chairman

«There is information that the system prepares its heirs and wishes to appoint people close to it,» discussing reforms in the Latvian justice system, including the changing of the chairman of the Supreme Court and the Prosecutor General, has said the Latvian Justice Minister speaking to Latvijas Televīzija programme Rīta Panorāma.

Latvian coalition reaches deal to support changed administrative reform

Latvian government parties have agreed to support the country’s major administrative and territorial reform expanding the initial plan of cutting the number of municipalities in Latvia from 119 to 36.