Exports and imports of food products increases

10.06.2013

Provisional data of the Central Statistical Bureau show that in April 2013, compared to March of this year, exports value of goods at current prices rose by 5.0%, but imports value of goods – reduced by 0.5%. In April foreign trade balance improved as exports in total foreign trade value increased to 44.9% (in March of this year – 43.6%), see picture:

 

Latvia’s foreign trade, mln lats 1

1 Data on April, May, June, July, November, December 2012 and January 2013 have been revised.

In April, compared to March, exports of food products increased by 8.7 mln lats or 19.6% - to Russia by 5.5 mln lats or 35.0%, to Lithuania – by 1.2 mln lats or 13.5%. But imports grew by 5.0 mln lats or 9.8% - from Denmark by 1.9 mln lats or 3.1 times (mainly, soya oil cakes and sugar was imported), from Spain by 1.7 mln lats or 2.2 times (mainly, wine was imported).

Main changes in exports in April, compared to March of this year:

  • exports of wood and articles of wood increased by 12.3 mln lats or 13.1%,
  • growth of exports of machinery and mechanical appliances; electrical equipment comprised 7.5 mln lats or 8.1%,
  • exports of vegetable products dropped by 8.7 mln lats or 30.1%,
  • decrease of exports of products of the chemical and allied industries comprised 7.0 mln lats or 16.2%.

Main changes in imports in April, compared to March of this year:

  • growth of imports of machinery and mechanical appliances; electrical equipment comprised 4.9 mln lats or 3.6%,
  • imports of products of the chemical and allied industries rose by 4.4 mln lats or 6.1%.
  • imports of mineral products dropped by 16.1 mln lats or 11.2%,
  • imports of transport vehicles dropped by 8.1 mln lats or 14.9%.

In April the most significant share in Latvia’s export – 72.3% had export to the countries of European Union, followed by the export to CIS countries with 15.4%. Main export partners were Lithuania (16.3% of total export), Estonia (13.7%), Russia (11.1%), Germany (7.7%) and Sweden (5.5%).

The most significant share in Latvia’s import – 77.8% had import from the countries of European Union, followed by the import from CIS countries with 13.9%. Main import partners were Lithuania (18.9% of total import), Russia (10.6%), Poland (10.1%), Germany (9.6%) and Estonia (8.6%).

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

 

thsd lats

% of

total

% (+, -) over

April 2012

March 2013

average of previous 12 months

Total

595 467

100

+17.5

+5.0

+1.2

 

wood and wood products; wood charcoal

106 467

17.9

+19.5

+13.0

+22.4

 

electrical machinery and equipment

63 803

10.7

+61.7

+8.8

+20.6

 

mineral fuels, mineral oils and products of their distillation

43 705

7.3

+0.5

-0.3

-6.5

 

iron and steel

42 168

7.1

+11.7

+9.7

-9.1

 

machinery and mechanical appliances

35 377

5.9

+26.2

+7.0

+11.9

 

beverages, spirits and vinegar

26 911

4.5

+22.8

+39.6

-1.2

 

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

18 432

3.1

-32.3

-4.2

-27.1

 

articles of iron or steel

18 301

3.1

+15.8

-0.3

+0.7

 

pharmaceutical products

15 504

2.6

+7.0

-4.6

-3.9

Rapid growth of exports of electrical machinery and equipmentin April 2013, compared to April of previous year, was mostly impacted by the increase of exports of mobile phones – by 9.9 mln lats or 2.7 times. In its turn, exports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof decreased asexports of cars and other mechanical vehicles dropped by 9.8 mln lats or 71.8%.

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

 

thsd lats

% of

total

% (+, -) over

April 2012

March 2013

average of previous 12 months

Total

730 895

100

+4.7

-0.5

-0.9

 

mineral fuels, mineral oils and products of their distillation

124 402

17.0

-3.3

-11.9

-2.2

 

electrical machinery and equipment

74 674

10.2

+57.3

+9.7

+17.4

 

machinery and mechanical appliances

63 978

8.8

+1.8

-2.6

-9.2

 

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

41 547

5.7

-22.7

-10.5

-17.9

 

plastics and articles thereof

30 478

4.2

+15.8

+4.7

+10.3

 

iron and steel

28 417

3.9

-38.4

-4.8

-28.6

 

pharmaceutical products

25 020

3.4

+8.0

-9.0

-2.1

In April, compared to April of previous year, imports of electrical machinery and equipmentrose, as imports of mobile phones increased by 11.4 mln lats or 2.9 times. But drop of imports of metal waste and scrap by 16.7 mln lats or 78.9% significantly impacted total imports of iron and steel.

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.

 

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