In August exports of wood and wood products is increasing

10.10.2013

Provisional data of the Central Statistical Bureau show that in August 2013 compared to July exports value of goods at current prices increased by 6.6%, but imports value of goods – reduced by 0.5%. In August foreign trade balance slightly improved as exports in total foreign trade value increased to 44.4% (in July of this year – 42.6%), see picture:

Latvia’s foreign trade, in mln lats1

Data source: Central Statistical Bureau of Latvia

Main changes in exports in August, compared to July of this year:

  • exports of wood and wood products increased by 13.5 mln lats (19.3 mln euros) or 15.2%,
  • exports of vegetable products rose by 5.6 mln lats (7.9 mln euros) or 44.1%,
  • exports of live animals and animal products reduced by 3.3 mln lats (4.7 mln euros) or 9.7%,

Mostly exports of wood and wood products was affected by increase of exports of sawn wood – by 5.8 mln lats (8.2 mln euros) or 24.0%. In August majority of sawn wood was exported to the United Kingdom – for 9.0 mln lats (12.7 mln euros), to Germany – for 3.0 mln lats (4.2 mln euros) and to Egypt – for 2.5 mln lats (3.5 mln euros).

Main changes in imports in August, compared to July of this year:

  • imports of vegetable products increased by 5.3 mln lats (7.5 mln euros) or 21.6%,
  • imports of footwear and haberdashery rose by 4.7 mln lats (6.7 mln euros) or 96.8%,
  • imports of products of the chemical and allied industries dropped by 4.7 mln lats (6.6 mln euros) or 7.0%,
  • imports of machinery and mechanical appliances; electrical equipment reduced by 5.1 mln lats (7.2 mln euros) or 3.7%.

In August the most significant share in Latvia’s export – 72.6% had dispatches to the countries of European Union, followed by the export to CIS countries with 16.6%. Main export partners were Lithuania (17.5% of total export), Estonia (12.6%), Russia (12.4%), Germany (7.5%) and Poland (6.7%).

The most significant share in Latvia’s import – 79.4% had arrivals from the countries of European Union, followed by the import from CIS countries with 12.2%. Main import partners were Lithuania (22.1% of total import), Germany (10.3%), Poland (10.1%), Estonia (8.5%) and Russia (6.3%).

Changes of main commodities in Latvia’s exports in August 2013, at current prices

 

thsd lats

thsd euros*

% of

total

% (+, -) over

 August 2012

 July 2013

average of previous 12 months

Total

580 407

825 845

100

-8.2

+6.6

-2.8

 

wood and wood products; wood charcoal

102 675

146 094

17.7

+16.1

+15.2

+15.0

 

electrical machinery and equipment

54 403

77 408

9.4

+1.4

-3.1

-6.1

 

mineral fuels, mineral oils and products of their distillation

51 247

72 918

8.8

-13.6

-3.4

+10.2

 

machinery and mechanical appliances

33 696

47 946

5.8

+0.3

+9.8

+3.8

 

beverages, spirits and vinegar

31 176

44 359

5.4

-2.5

+8.2

+11.6

 

articles of iron or steel

20 619

29 338

3.6

+9.9

+29.6

+18.6

 

iron and steel

20 567

29 265

3.5

-61.9

-17.8

-47.8

 

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

19 924

28 349

3.4

-25.4

+14.1

-16.7

 

dairy produce, eggs, natural honey

17 600

25 042

3.0

+23.4

-5.8

+24.3

 

furniture and other furnishings

15 691

22 326

2.7

+11.8

+12.3

+14.1

In August 2013, compared to August of previous year, rapid exports increase in dairy produce, eggs and natural honey was mostly affected by exports increase in milk and cream of 2.2 mln lats (3.1 mln euros) or 32.3%. But exports of iron and steel reduced as export of iron and non-alloy steel bars decreased by 27.0 mln lats (38.5 mln euros) or 92.0%.

Changes of main commodities in Latvia’s imports in August 2013, at current prices

 

thsd lats

thsd euros*

% of

total

% (+, -) over

 August 2012

 July 2013

average of previous 12 months

Total

727 995

1 035 843

100

-7.2

-0.5

-1.5

 

mineral fuels, mineral oils and products of their distillation

119 119

169 491

16.4

-16.6

+3.3

-4.9

 

electrical machinery and equipment

70 716

100 619

9.7

+9.5

-3.5

+3.4

 

machinery and mechanical appliances

61 101

86 939

8.4

-31.6

-4.0

-10.3

 

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

31 288

44 518

4.3

-30.3

-13.8

-36.6

 

iron and steel

30 926

44 003

4.2

-17.4

+23.6

-7.9

 

plastics and articles thereof

30 641

43 598

4.2

+0.7

-3.8

+7.9

 

pharmaceutical products

22 686

32 279

3.1

-12.1

+3.4

-13.2

 

articles of iron or steel

20 444

29 089

2.8

+20.7

-13.5

+11.3

In August, compared to August of the previous year, imports of iron and steel rose as imports of these goods to railways and tramway rails grew by 2.1 mln lats (2.9 mln euros) or 6.5 times.But drop of imports of computers and units thereof by 2.7 mln lats (3.8 mln euros) or 22.8% affected total imports of machinery and mechanical appliances.

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.


* Data in euros are recalculated according to fixed LVL and EUR exchange rate = 0.702804

 

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



1 Data on May 2013 have been revised.