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Latvian exports of goods up 9.3% in January-May, imports grow 7.9%
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    Latvian exports of goods up 9.3% in January-May, imports grow 7.9%

    RIGA, July 11 (LETA) - During the first five months of this year Latvia exported EUR 4.917 billion worth of goods, up 9.3 percent or EUR 416.8 million against the same period last year, while Latvian imports grew 7.9 percent or EUR 430 million to EUR 5.847 billion, according to the latest foreign trade data released today by the Central Statistical Bureau.

    In May 2018, Latvian exports rose 6.2 percent from April 2018 and 8.5 percent against May 2017 to EUR 1.047 billion. Imports increased 11.6 percent from April 2018 and rose 10.4 percent against May 2017 to EUR 1.277 billion.

    Compared to May 2017, Latvia's foreign trade balance worsened slightly as the share of exports decreased from 45.5 percent to 45 percent.

    In May 2018, Latvian timber, timber products and charcoal were exported for EUR 197.824 million or 18.9 percent of total exports, growing 6.5 percent from April 2018 and 17.4 percent from May 2017. Exports of electric appliances and equipment accounted for EUR 97.476 million or 9.3 percent of total exports, up 10.7 percent month-on-month and down 13.7 percent year-on-year.

    Machinery and mechanical appliances prevailed in Latvian imports in May 2018 at EUR 192.426 million or 15.1 percent of total imports, soaring 51.7 percent from April 2018 and surging 73.6 percent from May 2017. Imports of electric appliances and equipment made up EUR 118.963 million or 9.3 percent of total imports, up 0.4 percent from April 2018 but down 7 percent year-on-year.

    In May 2018, Latvia's main export partners in the EU included Lithuania, which received 16.4 percent of Latvia's total exports, Estonia (11.8 percent), Sweden (7 percent) and Germany (6.6 percent), while the key import partners were Lithuania (18.1 percent of total imports), Germany (10.6 percent), Poland (8.7 percent) and Estonia (8.2 percent).

    Russia was Latvia's main partner in trade with third countries as its share in total Latvian exports in May 2018 accounted for 9 percent, whereas in imports for 6.2 percent.

    • Published: 11.07.2018 14:00
    • LETA
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