In August structure of food products in exports to Russia has changed

10.10.2014

Provisional data of the Central Statistical Bureau show that in August 2014 compared to the previous month exports value of goods at current prices decreased by 4.4%, and imports value of goods by 6.3%. In August Latvia exported goods in amount of 811.2 mln euros, but imported - in amount of 988.2 mln euros. Foreign trade balance slightly improved as exports in total foreign trade value increased to 45.1% (in July 2014 – 44.6%).

Latvias foreign trade, in mln euros1

Data source: Central Statistical Bureau of Latvia

Main changes in exports in August, compared to July:

  • exports of wood and articles of wood reduced by 17.5 mln euros or 10.9%,
  • exports of machinery and mechanical appliances; electrical equipment fell by 10.9 mln euros or 7.5%,
  • exports of mineral products dropped by 9.0 mln euros or 10.6%,
  • exports of prepared foodstuffs rose by 8.8 mln euros or 12.1%.

Main changes in imports in August, compared to July:

  • imports of machinery and mechanical appliances; electrical equipment fell by 28.8 mln euros or 12.7%,
  • imports of products of the chemical and allied industries declined by 11.7 mln euros or 11.3%,
  • imports of vehicles and associated transport equipment dropped by 11.4 mln euros or 18.7%,
  • imports of prepared foodstuffs reduced by 11.2 mln euros or 13.0%,
  • imports of mineral products rose by 8.2 mln euros or 5.8%.

On 7 August 2014 Russia applied prohibition on imports of certain food products (meat, fresh fish, dairy products, vegetables, fruit, sausages, etc.) from the European Union (EU) and some other countries. Therefore, exports of goods to Russia subjected to embargo in August was only 1.5 mln euros, compared to 5.5 mln euros in July and 4.1 mln euro in August 2013. Share of these goods in exports of food products to Russia comprised 3.2% in August, 9.6% in July and 15.5% in August of last year.

At the same time total exports of food products to Russia in August 2014, compared to the previous month, rose by 10.4 mln euros or 29.7%. Exports of spirits increased the most – by 9.7 mln euros or 51.1%, of wine – by 2.6 mln euros or 54.5% and of sprats – by 1.7 mln euros or twice as much. Compared to August of the previous year, increase of exports of food products to Russia was 3.1 mln euro or 7.2%.

Foreign trade of Latvia by country group in August 2014, at current prices

 

Exports

Imports

 

mln euros

% of

total

In % (+, -) over July 2014

mln euros

% of

total

In % (+, -) over July 2014

Total

811.2

100

-4.4

988.2

100

-6.3

Member States of the European Union

587.3

72.4

-4.8

789.4

79.9

-5.8

   Euro area countries

236.3

29.1

-9.8

394.1

39.9

-12.2

CIS countries

131.6

16.2

+5.0

109.7

11.1

-8.9

Other countries

92.3

11.4

-13.0

89.1

9.0

-8.0

In August main export partners were Lithuania (19.2% of total export), Estonia (12.0%), Germany (6.6%) and Sweden (6.2%); main import partners were Lithuania (18.1% of total import), Poland (12.0%), Germany (10.3%), Estonia (7.7%) and Finland (7.5%). In August share of exports in trade with Russia comprised 12.7%, but in imports – 7.2%.

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

 

thsd euros

% of

total

% (+, -) over

August 2013

July 2014

average of previous 12 months

Total

811 185

100

-3.8

-4.4

-4.5

wood and wood products; wood charcoal

142 717

17.6

+0.9

-10.9

-0.6

electrical machinery and equipment

92 310

11.4

+14.4

-7.1

+4.1

mineral fuels, mineral oils and products of their distillation

69 138

8.5

-5.9

-10.6

+3.7

beverages, spirits and vinegar

47 418

5.8

+10.9

+27.7

+16.6

machinery and mechanical appliances

43 092

5.3

-11.2

-8.3

-0.9

iron and steel

30 577

3.8

-10.2

-16.4

-8.6

articles of iron and steel

29 703

3.7

+4.1

+1.4

+4.2

passenger cars

27 024

3.3

-9.1

-10.8

-17.6

pharmaceutical products

24 736

3.0

+16.1

+16.1

-8.8

other furniture and furnishings

23 117

2.8

+2.2

+6.9

+13.3

Rise of exports of pharmaceutical products in August 2014, as compared to August 2013, was affected by the increase in exports of medicines by 1.8 mln euros or 9.5%. But exports of machinery and mechanical appliances reduced as exports of spark-ignition internal combustion piston engines dropped by 2.7 mln euros or 98.7%.

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

 

thsd euros

% of

total

% (+, -) over

August 2013

July 2014

average of previous 12 months

Total

988 215

100

-9.3

-6.3

-5.8

mineral fuels, mineral oils and products of their distillation

142 910

14.5

-19.4

+6.5

-9.0

electrical machinery and equipment

114 635

11.6

+7.6

-8.2

+8.0

machinery and mechanical appliances

83 687

8.5

-21.9

-18.2

-7.9

passenger cars

43 159

4.4

-22.4

-24.4

-37.8

plastics and articles thereof

40 863

4.1

-4.8

-9.2

-2.6

iron and steel

40 731

4.1

+10.0

+2.2

+5.8

pharmaceutical products

39 496

4.0

+10.2

-9.6

-8.4

paper and paperboard; articles of paper pulp, of paper or of paperboard

25 974

2.6

+18.6

-9.7

+8.9

Rise of imports of paper and paperboard; articles of paper pulp, of paper or of paperboard in August 2014, as compared to August 2013, was mostly affected by the increase in imports of wallpaper and similar wall coverings of 3.5 mln euros or 3.9 times. In turn, decline in imports of passenger cars by 6.1 mln euro or 30.4% significantly influenced the total imports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof.

More information on Latvia’s foreign trade by month and quarter, by country group and commodity group is available 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 May 2014 have been revised.