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Latvian exports of goods rise 8% in 11 months; imports up 10.9%
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    Latvian exports of goods rise 8% in 11 months; imports up 10.9%

    RIGA, Jan 9 (LETA) - During the first 11 months of 2018, Latvia exported EUR 11.395 billion worth of goods, up 8 percent against the same period a year ago, while imports rose 10.9 percent to EUR 14.244 billion, according to the data released on Wednesday by the Central Statistical Bureau (CSB).

    In November 2018, Latvian exports of goods grew 1 percent from October but dropped 13.2 percent year-on-year to EUR 1.168 billion. Meanwhile, Latvian imports climbed 5.2 percent month-on-month and 8.6 percent year-on-year to EUR 1.301 billion in November.

    Latvia’s foreign trade balance deteriorated in November as the share of exports dropped from 48.1 percent in October to 47.1 percent in November last year.

    In November 2018, Latvian timber, timber product and charcoal exports accounted for EUR 199.84 million or 17.1 percent of total exports, dropping 4.1 percent from October 2018 and growing 14.8 percent against November 2017. Exports of electric appliances and equipment increased 2.5 percent month-on-month and rose 9.2 percent year-on-year to EUR 122.865 million in November 2018 (10.5 percent of total exports). Exports of machinery and mechanical appliances accounted for EUR 93.984 million or 8 percent of total exports, up 11 percent month-on-month and up 58.6 percent year-on-year.

    CSB representatives said that the steep growth in exports of machinery and mechanical appliances was achieved as exports of turbojet engines and other turbo engines increased by EUR 20.5 million in November.

    Electronic and electrical appliances prevailed in Latvian imports in November2018, accounting for EUR 145.484 million or 11.2 percent of total imports, declining 8.2 percent from October and 1.5 percent from November 2017. Imports of machinery and mechanical appliances made up EUR 139.458 million or 10.7 percent of total imports, down 13.8 percent from October 2018 and up 2.6 percent year-on-year. Imports of mineral fuels, oil and its products fell 28.9 percent month-on-month and grew 22.5 percent year-on-year to EUR 108.757 million (8.4 percent).

    In November 2018, Latvia’s key export partners in the European Union included Lithuania ((16.1 percent of total exports), Estonia (11.6 percent), Sweden (8.2 percent) and Germany (6.6 percent), whereas the main import partners were Lithuania (17.7 percent of total imports), Germany (11.4 percent), Poland (9 percent) and Estonia (8.2 percent).

    Latvia’s main trade partners outside the European Union was Russia accounting for 11.2 percent of Latvian exports and 7.8 percent of imports in November.

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    • Published: 09.01.2019 14:21
    • LETA
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