In August, exports value grew by 9.9 %

11.10.2016

Provisional data of the Central Statistical Bureau (CSB) show that, as compared to July, in August 2016 Latvian foreign trade turnover at current prices grew by 8.5 %, as the exports value of goods rose by 9.9 % and the imports value increased by 7.4 %. In August, Latvia exported goods in the amount of EUR 868.6 mln, and imported goods in the amount of EUR 1 045.7 mln. The foreign trade balance improved, as exports in the total foreign trade value increased up to 45.4 % (in July 2016 – 44.8 %).

Foreign trade of Latvia, mln EUR

Notes: data on May 2016 have been revised.

Main changes in exports in August, compared to July:

-       exports of vegetable products increased by EUR 73.0 mln or 4.9 times,

-       exports of basic metals and articles of basic metals grew by EUR 17.9 mln or 30.1 %,

-       exports of wood and articles of wood grew by EUR 8.5 mln or 6.5 %,

-       exports of vehicles and associated transport equipment dropped by EUR 35.3 mln or 41.6 %,

-       exports of machinery and mechanical appliances; electrical equipment decreased by EUR 9.2 mln or 6.4 %.

Main changes in imports in August, compared to July:

-       imports of basic metals and articles of basic metals increased by EUR 16.0 mln or 22.8 %,

-       imports of textiles and textile articles grew by EUR 13.1 mln or 33.2 %,

-       imports of products of the chemical and allied industries rose by EUR 11.2 mln or 10.8 %,

-       imports of plastics and articles thereof, rubber and articles thereof increased by EUR 8.0 mln or 14.1 %,

-       imports of machinery and mechanical appliances; electrical equipment decreased by EUR 6.7 mln or 3.1 %.

In August, the main export partners in trade with the EU countries were Lithuania (16.7 % of total export), Estonia (12.1 %), Germany (8.3 %) and Sweden (6.2 %), whereas the main import partners were Lithuania (18.9 % of total imports), Germany (11.6 %), Poland (11.1 %) and Estonia (8.0 %).

Foreign trade of Latvia by country group in August 2016, at current prices

 

Exports

Imports

 

mln EUR

% of

total

Changes as % over July 2016

mln EUR

% of

total

Changes as % over July 2016

Total

868.6

100

9.9

1 045.7

100

7.4

European Union countries

638.1

73.5

13.4

835.0

79.9

6.0

   Euro area countries

433.4

49.9

13.0

602.5

57.6

6.3

CIS countries

87.4

10.1

-6.7

96.6

9.2

2.8

Other countries

143.1

16.4

6.8

114.1

10.9

24.5

 

Russia was the main partner in trade with third countries; its share in total Latvian exports in August accounted for 6.8 %, whereas in imports – for 6.7 %.

 

Changes of main commodities in Latvia’s exports in August 2016, at current prices

 

thsd EUR

% of

total

Changes as % over

August 2015

July 2016

average of previous 12 months

Total

868 631

100

9.7

9.9

2.3

wood and wood products; wood charcoal

139 714

16.1

2.4

6.5

-2.9

electrical machinery and equipment

86 352

9.9

-13.1

-7.9

-15.7

cereals

58 214

6.7

8 times

24 times

51.0

machinery and mechanical appliances

48 079

5.5

-21.7

-3.5

-9.7

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

47 409

5.5

41.0

10.3

7.6

mineral fuels, mineral oils and products of their distillation

37 219

4.3

-37.3

-10.9

-17.6

iron and steel

34 262

3.9

93.4

2 times

35.9

beverages, spirits and vinegar

28 616

3.3

-13.5

17.0

-12.6

articles of iron or steel

27 304

3.1

-1.4

-4.3

-3.0

pharmaceutical products

25 799

3.0

4.0

-25.2

-17.6

The growth in the exports of cereals in August 2016, as compared to August 2015, was mostly influenced by an increase in the exports of wheat and meslin (of EUR 49.3 mln or 10 times). In turn, exports of mineral fuels, mineral oils and products of their distillation decreased, as exports of diesel oil dropped by EUR 26.8 mln or 67.8 %.

 

Changes of main commodities in Latvia’s imports in August 2016, at current prices

 

thsd EUR

% of

total

Changes as % over

August 2015

July 2016

average of previous 12 months

Total

1 045 659

100

-0.7

7.4

3.7

electrical machinery and equipment

112 707

10.8

3.6

-0.8

-4.1

machinery and mechanical appliances

93 622

9.0

-25.1

-5.8

-7.8

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

84 324

8.1

33.0

1.0

-4.1

mineral fuels, mineral oils and products of their distillation

81 666

7.8

-44.5

-3.4

-18.8

pharmaceutical products

52 559

5.0

54.5

8.9

14.2

plastics and articles thereof

44 591

4.3

8.2

7.7

10.0

iron and steel

39 427

3.8

-2.2

49.6

29.4

beverages, spirits and vinegar

35 402

3.4

6.4

23.0

22.6

wood and wood products; wood charcoal

34 962

3.3

26.2

10.8

10.6

articles of iron or steel

24 187

2.3

-3.6

7.4

6.7

The growth in the imports of pharmaceutical products in August 2016, as compared to August 2015, was mostly affected by an increase in the imports of medicines (of EUR 12.6 mln or 47.0 %). In turn, the drop in the imports of mineral fuels, mineral oils and products of their distillation was mainly influenced by a decrease in the imports of diesel oil (of EUR 40.1 mln or 46.4 %).

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.

 

Media requests:
Beate Danusēviča
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: +371 67366924, +371 67366621, +371 27880666
www.csb.gov.lv
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More information on data:
Lilita Laganovska
Foreign Trade Statistics Methodology, Analysis and Dissemination Section
E-mail: Lilita [dot] Laganovska [at] csb [dot] gov [dot] lv
Phone: +371 67366604