In April, foreign trade turnover amounted to 1.9 billion euros

09.06.2017

Provisional data of the Central Statistical Bureau (CSB) show that in April 2017 Latvian foreign trade turnover amounted to EUR 1.88 bln, which was 0.5 % higher than in April 2016 (at current prices), and the exports and imports values of goods were 1.0 % and 0.2 % higher, respectively. In April, Latvia exported goods in the amount of EUR 859.6 mln, and imported goods in the amount of EUR 1.02 bln. The foreign trade balance improved slightly, as exports in the total foreign trade value increased up to 45.7 % (in April 2016 – 45.5 %).

During the first four months of the present year, the foreign trade turnover of Latvia at current prices reached EUR 7.67 bln EUR 647.3 mln or 9.2 % more than in the corresponding period of 2016. The exports value constituted EUR 3.46 bln (an increase of EUR 250.7 mln or 7.8 %), whereas the imports value comprised EUR 4.21 bln (an upturn of EUR 396.7 mln or 10.4 %).

Foreign trade of Latvia, mln EUR

Data source: CSB
Notes: data on April, May, June 2016 and January 2017 have been revised

Main changes in exports in April 2017, compared to April 2016:

-       exports of base metals and articles of base metals up by EUR 21.4 mln or 31.1 %;

-       exports of products of the chemical and allied industries up by EUR 8.3 mln or 12.4 %;

-       exports of prepared foodstuffs up by EUR 8.1 mln or 12.9 %;

-       exports of machinery and mechanical appliances; electrical equipment down by EUR 11.0 mln or 7.0 %;

-       exports of wood and articles of wood down by EUR 9.7 mln or 6.1 %.

Main changes in imports in April 2017, compared to April 2016:

-       imports of mineral products up by EUR 14.6 mln or 19.4 %;

-       imports of prepared foodstuffs up by EUR 6.1 mln or 7.7 %;

-       imports of live animals and animal products up by EUR 6.0 mln or 18.8 %;

-       imports of vehicles, aircraft, vessels and associated transport equipment down by EUR 13.6 mln or 12.8 %;

-       imports of machinery and mechanical appliances; electrical equipment down by EUR 6.5 mln or 3.0 %.

In April, the main export partners in trade with EU countries were Lithuania (17.4 % of total exports), Estonia (12.0 %), Sweden (6.9 %) and Germany (6.5 %), whereas the main import partners were Lithuania (19.2 % of total imports), Germany (11.6 %), Poland (9.6 %) and Estonia (8.0 %).

Foreign trade of Latvia in April 2017 by country group, at current prices

 

Exports

Imports

 

mln EUR

% of

total

Changes as % compared to April 2016

mln EUR

% of

total

Changes as % compared to April 2016

Total

859.6

100

1.0

1 021.9

100

0.2

European Union countries

616.4

71.7

-3.0

820.6

80.3

-1.8

   Euro area countries

410.5

47.8

-4.0

608.7

59.6

0.1

CIS countries

102.3

11.9

3.3

95.4

9.3

0.4

Other countries

140.9

16.4

20.5

105.9

10.4

17.9

 

Russia was the main partner in trade with third countries; its share in total Latvian exports in April accounted for 8.2 %, whereas in imports – for 6.1 %.

Main commodities in exports of Latvia in April 2017, at current prices

 

thsd EUR

% of

total

Changes as % compared to

April 2016

March 2017

Average of previous 12 months

Total

859 556

100

1.0

-10.5

-2.8

Wood and articles of wood; wood charcoal

148 796

17.3

-6.1

-19.1

-1.5

Electrical machinery and equipment

98 376

11.4

0.9

-12.0

-3.1

Machinery and mechanical appliances

46 900

5.5

-20.2

-7.9

-13.4

Iron and steel

46 603

5.4

2.4 times

2.8 times

80.8

Vehicles other than railway or tramway rolling stock, and parts and accessories thereof

45 755

5.3

-5.1

-13.3

-7.6

Mineral fuels, mineral oils and products of their distillation

40 099

4.7

-7.3

-10.4

-1.2

Pharmaceutical products

38 403

4.5

10.9

-2.3

12.5

Beverages, spirits and vinegar

32 726

3.8

15.5

-10.3

-8.6

Articles of iron or steel

30 376

3.5

-3.5

-7.3

4.7

Cereals

24 328

2.8

0.7

-11.0

-23.4

Growth in the exports of iron and steel in April 2017, as compared to April 2016, was facilitated by an increase in the exports of ferrous waste and scrap(of EUR 15.7 mln or 8.2 times). In turn, exports of machinery and mechanical appliances reduced, as exports of computers and components thereof dropped by EUR 8.5 mln or 61.0 %.

Main commodities in imports of Latvia in April 2017, at current prices

 

thsd EUR

% of

total

Changes as % compared to

April 2016

March 2017

Average of previous 12 months

Total

1 021 919

100

0.2

-14.1

-3.4

Electrical machinery and equipment

120 282

11.8

5.3

2.5

-0.6

Machinery and mechanical appliances

94 282

9.2

-11.8

-7.0

-5.2

Mineral fuels, mineral oils and products of their distillation

86 243

8.4

21.0

-12.1

-6.7

Vehicles other than railway or tramway rolling stock, and parts and accessories thereof

85 627

8.4

-15.7

-8.6

-11.8

Pharmaceutical products

53 807

5.3

13.9

0.5

13.1

Plastics and articles thereof

49 410

4.8

8.8

-8.9

10.7

Iron and steel

39 707

3.9

26.2

-2.4

9.7

Wood and articles of wood; wood charcoal

37 179

3.6

4.2

-11.6

7.0

Beverages, spirits and vinegar

29 352

2.9

9.6

-20.9

-8.2

Miscellaneous chemical products

23 163

2.3

-22.0

-33.3

68.5

Growth in the imports of iron and steel in April 2017, as compared to April 2016, was facilitated by an increase in the imports of flat-rolled products of iron and non-alloy steel (of EUR 2.3 mln or 12.0 %). In turn, the drop in imports of miscellaneous chemical products was mainly influenced by a decline in the imports of insecticides, fungicides, herbicides and similar products (of EUR 10.9 mln or 45.3 %).

More information on the foreign trade of Latvia by month and quarter, as well as by country group and commodity group is available in the Foreign Trade section of the CSB database.

 

 

 

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More information on data:
Ilze Palde
Foreign Trade Statistics Methodology, Analysis and Dissemination Section
E-mail: Ilze [dot] Palde [at] csb [dot] gov [dot] lv
Phone: +371 67366732