Foreign trade of Latvia in 2008

13.02.2009

The provisional data of the Central Statistical Bureau show that, in 2008 total volume of goods in foreign trade of Latvia at current prices reached 11852.0 mln lats – an increase of 31.5 mln lats or 0.3%, if compared to 2007. Of which exports volume increased by 351.7 mln lats of 8.7%, but imports value decreased by 320.2 mln lats or 4.1%.

Latvia’s foreign trade at current prices by quarters, mln lats1

1 Data on 1st, 2nd and 3rd quarter of 2008 have been revised.

Volume changes of foreign trade of Latvia; at current prices1

Period

Exports, % (+, -) over

Imports, % (+, -) over

previous period

corresponding period of previous year

previous period

corresponding period of previous year

2008

+0.9

x

-11.9

x

 

1st quarter

-3.8

+8.0

-7.3

-1.8

 

2nd quarter

+3.5

+3.0

-2.3

-11.0

 

3rd quarter

-1.1

+3.0

+1.8

-11.8

 

4th quarter

-7.8

-9.2

-14.4

-21.6

1 Data on 1st, 2nd and 3rd quarter of 2008 have been revised.

Foreign trade of Latvia according to BEC1 classification, at current prices

Goods

Exports

Imports

2007

2008

2007

2008

mln lats

as % of total volume

mln lats

as % of total volume

mln lats

as % of total volume

mln lats

as % of total volume

Total

4040.3

100

4392.0

100

7780.2

100

7460.0

100

Capital goods

370.2

9.2

417.3

9.5

1486.9

19.1

1161.9

15.6

Goods of intermediate consumption

2439.6

60.4

2562.6

58.3

3420.1

44.0

3465.0

46.5

Consumer goods

954.5

23.6

1030.1

23.5

1861.2

23.9

1843.1

24.7

Other goods

147.6

3.6

251.3

5.7

269.9

3.5

480.7

6.4

Passenger cars

115.2

2.9

118.1

2.7

580.2

7.4

337.7

4.5

Motor gasoline2

13.2

0.3

12.6

0.3

161.9

2.1

171.6

2.3


1 Broad Economic Categories classification.

2 Those commodities are included in several groups of BEC.

According to BEC classification, exported and imported goods can be grouped in categories by possible kind of their utilisation. Capital goods consist of fixed assets, goods of intermediate consumption and other materials envisaged for the further processing. Goods envisaged for the needs of population are considered to be consumer goods. Other goods which are not included into the mentioned categories are included into the category of other goods (for example, army equipment and other specific goods), as well as mathematical addition.

Structure of foreign trade of Latvia according to NACE1 rev. 1.1 classification in 2008; at current prices

Exporters/importers belonging by main kind of their economic activity

Exports

Imports

Foreign trade balance, mln lats (+,-)

mln lats

as % of total volume

mln lats

as % of total volume

Total

4392.0

100

7460.0

100

-3068.0

agriculture, hunting, forestry and fishing

93.7

2.1

42.4

0.6

+51.3

manufacturing

2000.7

45.6

1195.5

16.0

+805.2

of which:

manufacture of food products, beverages and tobacco

296.0

6.7

260.9

3.5

+35.1

manufacture of textiles and textile products

165.0

3.8

91.4

1.2

+73.5

manufacture of wood and wood products

437.2

10.0

97.8

1.3

+339.4

manufacture of chemicals, chemical products and man-made fibres

132.7

3.0

62.2

0.8

+70.5

manufacture of other non-metallic mineral products

84.3

1.9

97.3

1.3

-13.0

manufacture of basic metals and fabricated metal products

402.1

9.2

229.4

3.1

+172.7

manufacture of electrical and optical equipment

113.9

2.6

82.1

1.1

+31.8

manufacture of transport equipment

79.0

1.8

98.6

1.3

-19.5

manufacture n.e.c.

106.2

2.4

39.6

0.5

+66.6

other manufacturing sectors

184.3

4.1

136.2

1.8

+48.1

electricity, gas and water supply

11.0

0.3

378.0

5.1

-367.0

construction

28.1

0.6

112.0

1.5

-83.9

wholesale and retail trade; repair of motor vehicles, motorcycles and personal and household goods

1640.2

37.3

4675.8

62.7

-3035.6

transport, storage and communications

135.1

3.1

187.2

2.5

-52.1

Other sections; without breakdown by sections; undivided mathematical addition

483.2

11.0

869.1

11.7

-385.9

1 Statistical classification according to economic activity of enterprises.

Prepared by the Foreign Trade Statistics Section
Tel. +371 67366604
Lilita Laganovska