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Latvian exports of goods up 9.5% in seven months; imports grow 9.1%
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    Latvian exports of goods up 9.5% in seven months; imports grow 9.1%

    RIGA, Sep 11 (LETA) - During the first seven months of this year Latvia exported EUR 6.913 billion worth of goods, up 9.5 percent or EUR 601.9 million against the same period last year, while Latvian imports grew 9.1 percent or EUR 714.2 million to EUR 8.55 billion, according to the latest foreign trade data released today by the Central Statistical Bureau.

    In July 2018, Latvia exported EUR 949.754 million worth of goods, which was 8.1 percent or EUR 84 million less than in June 2018 but 8.3 percent or EUR 72.8 million more than in July 2017.

    Latvian imports, meanwhile, rose by 1.8 percent or EUR 23.9 million against June 2018 and climbed 14.5 percent or EUR 181.8 million against July 2017 to EUR 1.355 billion in July 2018.

    Latvia’s foreign trade balance slightly deteriorated as the share of exports declined from 42.6 percent in July 2017 to 41.6 percent in July 2018.

    In July 2018, Latvian timber, timber product and charcoal exports accounted for EUR 187.745 million or 19.8 percent of total exports, dropping 0.5 percent from June 2018 and rising 28.4 percent against July 2017. Exports of electric appliances and equipment rose 0.4 percent month-on-month but dropped 9.8 percent year-on-year to EUR 96.289 million in July 2018. Exports of machinery and mechanical appliances accounted for EUR 73.681 million or 7.8 percent of total exports, down 23.4 percent month-on-month and a 24.2 percent rise year-on-year.

    Machinery and mechanical appliances prevailed in Latvian imports in July 2018, accounting for EUR 185.862 million or 13.7 percent of total imports and declining 4 percent from June 2018 and surging 43 percent from July 2017. Imports of electric appliances and equipment made up EUR 126.29 million or 9.3 percent of total imports, up 8.6 percent from June 2018 and up 0.5 percent year-on-year. Imports of mineral fuel, oil and their products increased 12.3 percent month-on-month and 7.4 percent year-on-year to EUR 109.713 million in July 2018.

    In July 2018, Latvia’s key export partners in the European Union included Lithuania (18 percent of total exports), Estonia (11.4 percent), Germany (7.7 percent) and the UK (6.4 percent), while the main import partners included Lithuania (17.5 percent of total imports), Germany (11.5 percent), Poland (8.8 percent) and Estonia (6.7 percent).

    Russia was Latvia's main non-EU trade partner, accounting for 9.3 percent of exports and 5.3 percent of imports in July 2018.

    • Published: 11.09.2018 14:33
    • LETA
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