Exports and imports value of goods has decreased in July

09.09.2016

Provisional data of the Central Statistical Bureau (CSB) show that, as compared to June, in July 2016 Latvian foreign trade turnover at current prices decreased by 2.0 %, as the exports value of goods dropped by 3.0 % and the imports value fell by 1.1 %. In July, Latvia exported goods in the amount of EUR 790.6 mln, and imported goods in the amount of EUR 973.5 mln. The foreign trade balance worsened, as exports in the total foreign trade value dropped to 44.8 % (in June 2016 – 45.3 %).

Foreign trade of Latvia, mln EUR

Notes: data on April 2016 have been revised.

Main changes in exports in July, compared to June:

-       exports of wood and articles of wood reduced by EUR 14.8 mln or 10.2 %,

-       exports of basic metals and articles of basic metals dropped by EUR 10.6 mln or 15.1 %,

-       exports of prepared foodstuffs fell by EUR 10.6 mln or 15.0 %,

-       exports of vegetable products decreased by EUR 8.2 mln or 30.4 %,

-       exports of vehicles and associated transport equipment increased by EUR 29.8 mln or 54.2 %.

Main changes in imports in July, compared to June:

-       imports of vehicles and associated transport equipment dropped by EUR 20.4 mln or 19.0 %,

-       imports of mineral products decreased by EUR 8.6 mln or 8.9 %,

-       imports of basic metals and articles of basic metals fell by 6.9 mln euros or 8.9 %,

-       imports of machinery and mechanical appliances; electrical equipment grew by EUR 6.6 mln or 3.2 %,

-       imports of plastics and articles thereof, rubber and articles thereof grew by EUR 3.8 mln or 7.1 %.

In July, the main export partners in trade with the EU countries were Lithuania (17.6 % of total exports), Estonia (12.5 %), Germany (6.9 %) and the United Kingdom (5.8 %), whereas the main import partners were Lithuania (17.5 % of total imports), Germany (11.9 %), Poland (11.8 %) and Estonia (8.4 %).

 

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

 

Exports

Imports

 

mln EUR

% of

total

Changes as % over June 2016

mln EUR

% of

total

Changes as % over June 2016

Total

790.6

100

-3.0

973.5

100

-1.1

European Union countries

563.0

71.2

-7.4

787.9

80.9

-2.0

   Euro area countries

383.5

48.5

-6.4

566.8

58.2

-0.6

CIS countries

93.7

11.8

-7.9

94.0

9.7

-5.4

Other countries

133.9

17.0

26.8

91.6

9.4

13.4

 

Russia was the main partner in trade with third countries; its share in total Latvian exports in July accounted for 7.8 %, whereas in imports – for 6.7 %.

 

Changes of main commodities in Latvia’s exports in July 2016, at current prices

 

thsd EUR

% of

total

Changes as % over

July 2015

June 2016

average of previous 12 months

Total

790 632

100

-7.4

-3.0

-7.4

wood and wood products; wood charcoal

131 201

16.6

-7.7

-10.2

-9.6

electrical machinery and equipment

93 808

11.9

-18.1

0.8

-8.4

machinery and mechanical appliances

49 839

6.3

-15.9

1.7

-7.6

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

42 992

5.4

0.4

-14.5

-2.9

mineral fuels, mineral oils and products of their distillation

41 771

5.3

-27.2

-13.2

-10.4

ships, boats and floating structures

40 475

5.1

25 times

14 times

23 times

pharmaceutical products

34 490

4.4

16.8

-4.5

11.4

articles of iron or steel

28 527

3.6

4.6

-12.9

1.5

beverages, spirits and vinegar

24 467

3.1

-29.4

-21.3

-26.9

furniture, other furnishing articles; prefabricated buildings

23 253

2.9

13.4

-16.9

3.2

The rise in exports of ships, boats and floating structures in July 2016, as compared to July 2015, was mainly influenced by the increase in exports of yachts and other vessels for pleasure or sports; rowing boats and canoes by EUR 39.2 mln. In turn, exports of beverages, spirits and vinegar reduced, as exports of spirits dropped by EUR 9.7 mln or 39.5 %.

 

Changes of main commodities in Latvia’s imports in July 2016, at current prices

 

thsd EUR

% of

total

Changes as % over

July 2015

June 2016

average of previous 12 months

Total

973 470

100

-11.9

-1.1

-4.3

electrical machinery and equipment

113 628

11.7

-10.1

4.1

-3.1

machinery and mechanical appliances

99 362

10.2

-19.0

2.2

-3.5

mineral fuels, mineral oils and products of their distillation

84 580

8.7

-30.1

-9.7

-18.9

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

83 481

8.6

-9.4

-18.0

-5.3

pharmaceutical products

48 276

5.0

2.7

2.1

4.6

plastics and articles thereof

41 422

4.3

-9.0

0.4

1.8

wood and wood products; wood charcoal

31 545

3.2

5.6

-10.0

-0.1

beverages, spirits and vinegar

28 774

3.0

1.5

5.9

-0.3

iron and steel

26 349

2.7

-30.9

-14.6

-16.2

paper and paperboard and articles thereof

23 028

2.4

0.1

5.0

6.6

The rise in imports of wood and wood products; wood charcoal in July 2016, as compared to July 2015, was affected by the increase in imports of particle boards by EUR 1.2 mln or 2.4 times. In turn, a decline in the imports of semi-finished products of iron or non-alloy steel of EUR 10.1 mln or of 99.6 % had the most significant effect on the imports of iron and steel.

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

 

Media requests:
Beate Danusēviča, Sanda Rieksta
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: + 371 67366924, + 371 67366621, + 371 27880666
www.csb.gov.lv
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More information on data:
Elga Bendrāte
Foreign Trade Statistics Methodology, Analysis and Dissemination Section
E-mail: Elga [dot] Bendrate [at] csb [dot] gov [dot] lv
Phone: +371 67366889