In April trade in chemical products decreases

10.06.2014

Provisional data of the Central Statistical Bureau show that in April 2014 compared to previous month exports value of goods at current prices reduced by 1.8%, but imports value of goods by 3.6%. In April Latvia exported goods in amount of 839.6 mln euros, but imported - in amount of 1 040.7 mln euros. In April foreign trade balance slightly improved as exports in total foreign trade value increased to 44.7% (in March 2014 – 44.2%).

Latvias foreign trade, in mln euros1

Data source: Central Statistical Bureau of Latvia

In April, compared to March, exports of products of the chemical and allied industries decreased by 10.1 mln euros or 15.7%. The largest drop was observed in exports to Uzbekistan – by 5.9 mln euros or 75.6% (mainly exports of pharmaceutical products for retail trade reduced), to Finland – by 4.0 mln euros or 92.8% (mainly exports of biodiesel and mixtures thereof decreased). But imports reduced by 8.9 mln euros or 7.3%: from Hungary – by 4.2 mln euros or 51.3%, from Lithuania - by 3.2 mln euros or 16.9% (mainly exports of pharmaceutical products for retail trade reduced).

Main changes in exports in April, compared to March:

  • exports of basic metals and articles of basic metals grew by 12.0 mln euros or 15.9%,
  • exports of vegetable products dropped by 9.8 mln euros or 20.2%,
  • exports of vehicles and associated transport equipment decreased by 8.0 mln euros or 20.2%,
  • exports of textiles and textile articles reduced by 5.1 mln euros or 13.3%.

Main changes in imports in April, compared to March:

  • imports of wood and articles of wood increased by 5.1 mln euros or 19.1%,
  • imports of basic metals and articles of basic metals dropped by 9.6 mln euros or 10.2%,
  • imports of prepared foodstuffs reduced by 6.3 mln euros or 7.6%,
  • imports of vehicles and associated transport equipment decreased by 5.7 mln euros or 7.8%.

Foreign trade of Latvia by country groups in April 2014, at current prices

 

Exports

Imports

 

mln euros

% of

total

In % (+, -) over March 2014

mln euros

% of

total

In % (+, -) over March 2014

Total

839.6

100

-1.8

1 040.7

100

-3.6

Member States of the European Union

613.2

73.0

-0.8

824.5

79.2

-4.2

   Euro area countries

266.1

31.7

-1.2

408.4

39.2

-8.8

CIS countries

120.0

14.3

-3.3

130.1

12.5

-3.7

Other countries

106.4

12.7

-5.9

86.1

8.3

+3.2

In April main export partners were Lithuania (17.3% of total export), Estonia (11.7%), Poland (7.6%), and Germany (7.1%), but main import partners were Lithuania (17.5% of total import), Poland (12.1%), Germany (10.1%) and Estonia (8.4%). Share of exports in trade with Russia comprised 10.1%, but in imports – 8.3%.

Changes of main commodities in Latvias exports in April 2014, at current prices

 

thsd euros

% of

total

% (+, -) over

April 2013

March 2014

average of previous 12 months

Total

839 563

100

+0.7

-1.8

-0.2

wood and wood products; wood charcoal

151 836

18.1

+8.2

-1.5

9.8

electrical machinery and equipment

92 275

11.0

+12.7

+0.7

+7.2

mineral fuels, mineral oils and products of their distillation

70 293

8.4

+3.5

+3.2

+2.7

machinery and mechanical appliances

42 976

5.1

-16.2

+4.8

-3.7

iron and steel

37 922

4.5

-30.8

+30.2

+14.9

beverages, spirits and vinegar

32 956

3.9

-10.4

+7.8

-22.2

articles of iron and steel

28 076

3.3

+12.3

+3.3

+4.3

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

27 975

3.3

-29.6

-3.6

-8.6

pharmaceutical products

22 967

2.7

-0.5

-24.8

-10.8

dairy produce, eggs, natural honey

22 795

2.7

+23.7

-2.3

-0.3

In April 2014, compared to April of previous year, exports increase in dairy produce, eggs and honey was mostly affected by exports increase in milk, cream and dairy produce (except of butter, cheese and curd) of 2.7 mln euros or 25.1%. But exports of iron and steel reduced rapidly as exports of iron and non-alloy steel bars decreased by 17.4 mln euros or 89.8%.

Changes of main commodities in Latvias imports in April 2014, at current prices

 

thsd euros

% of

total

% (+, -) over

April 2013

March 2014

average of previous 12 months

Total

1 040 741

100

-4.6

-3.6

-0.8

mineral fuels, mineral oils and products of their distillation

145 085

13.9

-21.0

+1.3

-12.4

electrical machinery and equipment

108 515

10.4

+8.2

+3.7

+5.2

machinery and mechanical appliances

87 118

8.4

-10.3

-7.6

-5.9

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

52 812

5.1

-39.0

-24.2

-25.0

plastics and articles thereof

43 984

4.2

+2.5

-2.4

+5.8

pharmaceutical products

42 658

4.1

+6.0

-18.2

+4.4

iron and steel

37 899

3.6

-15.7

-8.1

+0.9

Rise of imports of electrical machinery and equipment in April 2014, as compared to April 2013, was mostly affected by the increase in imports of mobile phones of 11.3 mln euros or 44.7%. In its turn, reduction of imports of passenger cars by 21.1 mln euros or by 58.8% significantly influenced total imports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof.

 

More information on Latvia’s foreign trade by months and quarters by country groups and commodity groups can be obtained in the CSB data base section „Foreign trade” Short term statistical data.

 

More information:
Foreign trade statistics methodology, analysis and dissemination section
Lilita Laganovska
Tel.: +371 67366604


1 Data on November 2013 and 2014 have been revised.