Compared to last year, in September foreign trade turnover in goods gone up by 13.3 %

09.11.2017

Provisional data of the Central Statistical Bureau (CSB) show that in September 2017 Latvian foreign trade turnover amounted to EUR 2.28 billion, which at current prices was 13.3 % more than in September 2016, of which the exports value of goods was 7.7 % and imports value of goods was 18.4 % higher. In September, Latvia exported goods in the amount of EUR 1.03 billion, and imported goods in the amount of EUR 1.25 billion. The foreign trade balance worsened, as exports in the total foreign trade value dropped to 45.4 % (in September 2016 – 47.7 %).

Over the first nine months of the present year, the foreign trade turnover of Latvia at current prices reached EUR 18.63 billion – EUR 2.19 billion or 13.3 % more than in the corresponding period of 2016. The exports value constituted EUR 8.25 billion (an increase of EUR 716.0 million or 9.5 %), whereas the imports value comprised EUR 10.38 billion (an upturn of EUR 1.47 billion or 16.5 %).

Foreign trade of Latvia
(million euros)

Data on June 2017 have been revised

 

Calendar and seasonally adjusted data at current prices show that, compared to September 2016, in September 2017 the exports value at current prices went up by 10.3 % and the imports value by 22.5 %, whereas, compared to the previous month, the exports value grew by 0.5 % and the imports value by 0.1 %.

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

-       exports of machinery and mechanical appliances; electrical equipment up by EUR 50.4 mln or 32.4 %;
-       exports of prepared foodstuffs up by EUR 20.9 mln or 25.7 %;
-       exports of base metals and articles of base metals up by EUR 15.5 mln or 21.1 %;
-       exports of mineral products up by EUR 7.0 mln or 16.1 %;
-       exports of vegetable products down by EUR 8.7 mln or 7.8 %.

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

-       imports of mineral products up by EUR 68.2 mln or 73.7 %;
-       imports of machinery and mechanical appliances; electrical equipment up by EUR 44.8 mln or 21.4 %;
-       imports of prepared foodstuffs up by EUR 24.6 mln or 25.6 %;
-       imports of products of the chemical and allied industries up by EUR 21.9 mln or 22.3 %;
-       imports of vehicles, aircraft, vessels and associated transport equipment up by EUR 13.9 mln or 12.9 %.

In September, Lithuania (with 16.2 % of the total exports), Estonia (10.6 %), Germany (7.1 %) and United Kingdom (5.1 %) were the main export partners of Latvia in trade with the EU countries, and Lithuania (with 17.2 % of the total imports), Germany (10.8 %), Poland (8.7 %) and Estonia (7.1 %) were the main import partners.

 

Foreign trade of Latvia in September 2017 by country group
(at current prices)

 

Exports

Imports

 

mln EUR

as % of total

changes as %, compared to SEP 2016

mln EUR

as % of total

changes as %, compared to SEP 2016

Total

1 034.4

100

7.7

1 246.0

100

18.4

European Union countries

704.3

68.1

-2.9

938.9

75.4

8.3

Euro area countries

496.4

48.0

-1.4

697.7

56.0

11.4

CIS countries

126.2

12.2

16.9

166.5

13.4

72.0

Other countries

203.9

19.7

59.6

140.6

11.2

58.7

 

Russia was the main partner in trade with the third countries; in September, its share accounted for 8.9 % in the total Latvian exports and for 10.5 % in the total Latvian imports.

 

Main commodities in exports of Latvia in September 2017
(at current prices)

 

thsd EUR

as % oftotal

Changes as %, compared to

September 2016

August 2017

average of previous 12 months

Total

1 034 371

100

7.7

7.9

12.8

wood and articles of wood; wood charcoal

148 718

14.4

-1.3

-4.4

-3.3

electrical machinery and equipment

104 751

10.1

7.3

3.1

0.3

machinery and mechanical appliances

100 815

9.7

75.0

49.7

79.9

beverages, spirits and vinegar

59 537

5.8

41.3

2.4

38.4

cereals

52 333

5.1

29.0

93.5

71.5

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

50 972

4.9

2.2

9.8

1.8

mineral fuels, mineral oils and products of their distillation

44 815

4.3

14.3

5.5

14.1

iron and steel

37 864

3.7

52.6

11.0

18.0

pharmaceutical products

34 197

3.3

4.0

9.6

-2.4

miscellaneous grains, seeds and fruit; industrial or medicinal plants

33 024

3.2

-23.8

2.1 times

3.6 times

 

In September 2017, compared to September 2016, rise in exports of machinery and mechanical appliances was facilitated by the increase of EUR 47.7 million in exports of turbojets, turbopropellers and other gas turbines. Exports of miscellaneous grains, seeds and fruit; industrial or medicinal plants, in its turn, reduced, as the exports of rape or colza seeds dropped by EUR 12.6 million or 29.7 %.

Main commodities in imports of Latvia in September 2017
(at current prices)

 

thsd EUR


as % oftotal

Changes as %, compared to

September 2016

August 2017

average of previous 12 months

Total

1 245 952

100

18.4

-3.2

10.5

mineral fuels, mineral oils and products of their distillation

155 380

12.5

75.9

18.7

52.3

electrical machinery and equipment

130 257

10.5

12.7

-1.6

2.3

machinery and mechanical appliances

124 244

10.0

32.0

-14.7

15.3

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

99 730

8.0

1.8

14.7

4.6

beverages, spirits and vinegar

59 065

4.7

40.1

-10.5

48.9

pharmaceutical products

53 003

4.3

27.2

-1.5

10.8

plastics and articles thereof

51 309

4.1

14.8

-1.9

8.6

iron and steel

39 807

3.2

-3.3

5.7

-4.1

wood and wood products; wood charcoal

38 800

3.1

14.7

-3.3

6.1

articles of iron or steel

29 099

2.3

19.0

9.6

16.5

 

In September 2017, compared to September 2016, growth in imports of mineral fuels, mineral oils and products of their distillation was influenced by the increase of EUR 62.5 million (7.8 times) in imports of natural gas (gaseous). Meanwhile, decline in the imports of iron and steel was mainly affected by the drop of EUR 8.3 million or 32.8 % in imports of flat-rolled products of iron or non-alloy steel.

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

 

 

 

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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