In December, foreign trade turnover amounted to 2 billion euros

09.02.2017

Provisional data of the Central Statistical Bureau (CSB) show that in December 2016 Latvian foreign trade turnover at current prices was 9.7 % higher than in December 2015, and the exports and imports values of goods were 7.6 % and 11.4 % higher, respectively. In December, Latvia exported goods in the amount of EUR 884.5 mln, and imported goods in the amount of EUR 1.1 bln. The foreign trade balance worsened slightly, as exports in the total foreign trade value dropped to 44.0 % (in December 2015 – 44.9 %).

In 2016, the foreign trade turnover of Latvia at current prices comprised EUR 22.61 bln, which was EUR 243.8 mln or 1.1 % less than in 2015. The exports value constituted EUR 10.33 bln (a drop of EUR 30.9 mln or 0.3 %), whereas the imports value comprised EUR 12.28 bln (a drop of EUR 212.9 mln or 1.7 %).

Foreign trade of Latvia, mln EUR

Notes: data on September 2016 have been revised

Main changes in exports in December 2016, compared to December 2015:

-       exports of wood and articles of wood up by EUR 24.2 mln or 19.3 %,

-       exports of products of the chemical and allied industries up by EUR 14.8 mln or 24.3 %,

-       exports of vehicles, aircraft, vessels and associated transport equipment up by EUR 14.0 mln or 30.5 %,

-       exports of live animals and animal products up by EUR 11.7 mln or 35.9 %,

-       exports of vegetable products down by EUR 40.5 mln or 50.6 %.

Main changes in imports in December 2016, compared to December 2015:

-       imports of products of the chemical and allied industries up by EUR 25.5 mln or 26.5 %,

-       imports of basic metals and articles of basic metals up by EUR 15.5 mln or 23.7 %,

-       imports of prepared foodstuffs up by EUR 10.8 mln or 12.7 %,

-       imports of live animals and animal products up by EUR 9.2 mln or 27.3 %,

-       imports of vehicles, aircraft, vessels and associated transport equipment down by EUR 18.6 mln or 14.4 %.

In December, the main export partners in trade with EU countries were Lithuania (18.8 % of total exports), Estonia (11.8 %), United Kingdom (5.9 %) and Sweden (5.7 %), whereas the main import partners were Lithuania (16.9 % of total imports), Germany (11.4 %), Poland (8.9 %) and Estonia (8.2 %).

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

 

Exports

Imports

 

mln EUR

% of

total

Changes as % compared to December 2015

mln EUR

% of

total

Changes as % compared to December 2015

Total

884.5

100

7.6

1 124.6

100

11.4

European Union countries

630.5

71.3

12.7

856.8

76.2

7.5

   Euro area countries

420.6

47.6

10.7

638.2

56.7

8.4

CIS countries

134.6

15.2

16.7

124.3

11.1

-5.6

Other countries

119.4

13.5

-18.8

143.5

12.7

77.5

 

Russia was the main partner in trade with third countries; its share in total Latvian exports in December accounted for 10.8 %, whereas in imports – for 8.5 %.

Changes of main commodities in exports of Latvia; December 2016, at current prices

 

thsd EUR

% of

total

Changes as % compared to

December 2015

November 2016

average of previous 12 months

Total

884 456

100

7.6

-8.8

3.3

Wood and wood products; wood charcoal

149 176

16.9

19.4

-13.7

1.2

Electrical machinery and equipment

95 183

10.8

-4.2

-20.6

-3.2

Machinery and mechanical appliances

54 311

6.1

-0.3

4.0

2.6

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

52 390

5.9

23.6

-5.8

12.8

Beverages, spirits and vinegar

46 837

5.3

5.2

-19.1

43.2

Mineral fuels, mineral oils and products of their distillation

42 378

4.8

12.3

1.5

7.3

Pharmaceutical products

38 857

4.4

37.8

5.8

17.9

Optical and measuring equipment, medical or surgical instruments and apparatus

26 302

3.0

26.5

42.3

2.1 times

Articles of iron or steel

25 212

2.9

20.0

-10.7

-9.4

Iron and steel

25 189

2.8

23.3

-17.4

0.4

Growth in the exports of pharmaceutical products in December 2016, as compared to December 2015, was influenced by an increase in the exports of medicines (of EUR 7.8 mln or 29.6 %). In turn, there was a drop in the exports of electrical machinery and equipment, as the exports of monitors, projectors and television receivers decreased by EUR 8.9 mln or 41.6 %.

Changes of main commodities in imports of Latvia; December 2016, at current prices

 

thsd EUR

% of

total

Changes as % compared to

December 2015

November 2016

average of previous 12 months

Total

1 124 551

100

11.4

2.9

10.9

Electrical machinery and equipment

119 548

10.6

6.9

-14.6

1.5

Machinery and mechanical appliances

108 239

9.6

-0.4

0.01

9.9

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

104 777

9.3

13.7

10.2

11.9

Mineral fuels, mineral oils and products of their distillation

101 557

9.0

-6.3

-3.4

14.1

Pharmaceutical products

54 382

4.8

29.1

12.6

16.3

Plastics and articles thereof

41 339

3.7

18.4

-7.0

-1.9

Iron and steel

39 097

3.5

44.4

19.1

18.5

Beverages, spirits and vinegar

37 992

3.4

18.4

7.6

26.9

Wood and wood products; wood charcoal

35 567

3.2

25.2

4.6

6.5

Optical and measuring equipment, medical or surgical instruments and apparatus

23 570

2.1

13.3

6.3

22.7

Growth in the imports of iron and steel in December 2016, as compared to December 2015, was affected by an increase in the imports of flat-rolled products of iron and non-alloy steel (of EUR 11.3 mln or 88.6 %). 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 natural gas in gaseous state (of EUR 8.4 mln or 21.5 %).

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