Compared to November 2016, in November 2017 foreign trade turnover in goods gone up by 11.5 %

09.01.2018

Provisional data of the Central Statistical Bureau (CSB) show that in November 2017 Latvian foreign trade turnover amounted to EUR 2.3 billion, which at current prices was 11.5 % more than in November 2016, of which the exports value of goods was 15.3 % and imports value of goods was 8.3 % higher. In November, Latvia exported goods in the amount of EUR 1.1 billion, but imported - in the amount of EUR 1.2 billion euros. The foreign trade balance improved, as exports in the total foreign trade value rose to 47.8 % (in November 2016 – 46.2 %).

Over the first eleven months of 2017, the foreign trade turnover of Latvia at current prices reached EUR 23.26 billion – EUR 2.66 billion or 12.9 % more than in the corresponding period of 2016. The exports value constituted EUR 10.44 billion (an increase of EUR 1 billion or 10.2 %), whereas the imports value comprised EUR 12.83 billion (an upturn of EUR 1.69 billion or 15.2 %).

Foreign trade of Latvia
(million euros)

Data on August 2017 have been revised

Calendar and seasonally adjusted data at current prices show that, compared to November 2016, in November 2017 the exports value at current prices went up by 14.9 % and the imports value by 9.6 %, whereas, compared to the previous month, the exports value increased by 5.8 % and the imports value by 0.4 %.

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

-       exports of vegetable products up by EUR 63.8 mln or 2.2 times,
-       exports of prepared foodstuffs up by EUR 25.1 mln or 25.2 %,
-       exports of wood and articles of wood up by EUR 18.7 mln or 11.7 %,
-       exports of basic metals and articles of basic metals up by EUR 18.7 mln or 24.9 %,
-       exports of machinery and mechanical appliances; electrical equipment down by EUR 10.2 mln or 5.8 %.

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

-       imports of prepared foodstuffs up by EUR 36.3 mln or 38.5 %,
-       imports of products of the chemical and allied industries up by EUR 21.7 mln or 20.1 %,
-       imports of vehicles, aircraft, vessels and associated transport equipment up by EUR 10.2 mln or 10.0 %,
-       imports of basic metals and articles of basic metals up by EUR 9.4 mln or 12.0 %,
-       imports of mineral products down by EUR 13.9 mln or 12.8 %.

In November 2017, the main export partners of Latvia in trade with EU countries were Lithuania (16.7 % of total exports), Estonia (11.6 %), Germany (7.3 %) and Sweden (5.5 %), whereas the main import partners were Lithuania (17.9 % of total imports), Germany (12.4 %), Poland (9.2 %) and Estonia (7.9 %).

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

 

Exports

Imports

 

mln EUR

% of

total

changes as %, compared to November 2016

mln EUR

% of

total

changes as %, compared to November 2016

Total

1 101.8

100

15.3

1 202.6

100

8.3

European Union countries

759.6

68.9

8.9

976.2

81.2

9.8

euro area countries

534.2

48.5

12.8

730.4

60.7

10.6

CIS countries

158.4

14.4

18.5

109.2

9.1

-8.0

other countries

183.8

16.7

47.5

117.2

9.7

13.6

 

Russia was the main partner in trade with third countries; its share in total Latvian exports in November accounted for 10.1 %, whereas in imports – for 5.9 %.

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

 

thsd EUR

as % of

total

Changes as %, compared to

November 2016

October 2017

average of previous 12 months

Total

1 101 779

100

15.3

2.9

18.3

wood and articles of wood; wood charcoal

178 310

16.2

11.7

2.9

14.6

electrical machinery and equipment

109 684

10.0

-7.9

14.8

5.2

cereals

74 322

6.7

2.3 times

26.1

2.6 times

beverages, spirits and vinegar

73 744

6.7

30.0

0.7

58.2

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

65 941

6.0

32.2

24.3

30.1

machinery and mechanical appliances

54 672

5.0

-1.4

-23.8

-10.4

mineral fuels, mineral oils and products of their distillation

45 951

4.2

21.8

-0.04

15.9

iron and steel

41 795

3.8

38.0

8.9

20.6

pharmaceutical products

40 537

3.7

16.8

5.5

14.1

articles of iron and steel

32 556

3.0

14.6

-11.8

6.5

 

The rise in the exports of cereals in November 2017, as compared to November 2016, was facilitated by an increase in the exports of wheat and meslin by EUR 43.9 mln or 2.6 times. In turn, a drop was experienced in the exports of electrical machinery and equipment, as exports of mobile telephones reduced by EUR 14.3 mln or by 43.7 %.

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

 

thsd EUR

as % of

total

Changes as %, compared to

November 2016

October 2017

average of previous 12 months

Total

1 202 576

100

8.3

-2.8

4.2

electrical machinery and equipment

146 683

12.2

-1.3

10.4

14.8

machinery and mechanical appliances

128 227

10.7

8.9

4.5

13.8

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

108 818

9.0

10.7

17.1

11.9

mineral fuels, mineral oils and products of their distillation

89 584

7.4

-14.6

-15.1

-17.1

beverages, spirits and vinegar

65 746

5.5

93.0

11.1

57.6

pharmaceutical products

56 457

4.7

23.9

-9.9

12.6

plastics and articles thereof

47 901

4.0

14.0

-10.6

-2.0

wood and articles of wood; wood charcoal

39 055

3.2

16.0

-6.3

4.2

iron and steel

32 564

2.7

-1.3

-35.9

-21.0

articles of iron and steel

28 167

2.3

18.0

-9.5

6.8

 

The rise in the imports of beverages, spirits and vinegar in November 2017, as compared to November 2016, was facilitated by an increase in the imports of spirits by EUR 18.1 mln or 2.1 time. In turn, a drop was experienced in the imports of mineral fuels, mineral oils and products of their distillation, as the imports of natural gas in gaseous state dropped by EUR 15.3 mln or 51.5 %.

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:
Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: +371 67366621, +371 27880666

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