Exports of goods increases, but imports of goods - decreases

19.11.2014

The provisional data of the Central Statistical Bureau (CSB) show that in the first nine months of 2014 the volume of goods exported at current prices, as compared to the nine months of the previous year, increased by EUR 144.1 mln or 2.0%, but volume of imports reduced by EUR 103.2 mln or 1.1%.

In the first nine months of this year Latvia has exported goods in amount of EUR 7.5 bln, but imported – of EUR 9.3 bln. Foreign trade balance of goods has improved slightly – share of exports in total foreign trade value has reached 44.6%. In the nine months of 2013 share of exports was 43.8%.

Foreign trade of Latvia at current prices by quarters, mln euros 

Data source: Central Statistical Bureau of Latvia

Excluding impact of price changes, in January – September of this year exports volume at constant prices grew by 3.3%, but imports volume reduced by 0.8%.

Changes of exports at current and constant prices by quarters

as % over corresponding quarter of the previous yearas % over the previous quarter

 

Changes of imports at current and constant prices by quarters

as % over corresponding quarter of the previous yearas % over the previous quarter
Data source: Central Statistical Bureau of Latvia

Grouping exporters and importers of goods by their main economic activity, information on how many goods are imported or exported by enterprises of certain sector can be found:

Structure of foreign trade of Latvia according to the kind of economic activity of enterprises by NACE Rev. 2 classification
in January
September 2014, at current prices

Exporters/importers by main kind of their economic activity

Exports

Imports

mln euros

as % of total value

mln euros

as % of total value

Total

7 453.4

100

9 268.4

100

Agriculture, forestry and fishing 

132.9

1.8

51.4

0.6

Mining and quarrying

71.9

1.0

18.4

0.2

Manufacturing

2 861.8

38.4

1 298.0

14.0

Electricity, gas, and steam supply

7.2

0.1

265.3

2.9

Water supply, sewerage, waste management and remediation activities

27.8

0.4

15.9

0.2

Construction

72.3

1.0

131.6

1.4

Wholesale and retail trade; repair of motor vehicles and motorcycles

3 095.3

41.5

5 767.7

62.2

Transport and storage

291.4

3.9

153.0

1.7

Other kinds of activity; without breakdown by sections

892.8

12.0

1 567.1

16.9

In the nine months of 2014 the largest amount of goods – more than two fifths of the total value of exports – was exported by enterprises whose main activity is wholesale and retail trade. Compared to January – September of the last year, exports of these enterprises rose by 24.0 mln euros or 0.8%. Increase of exports was also observed in enterprises of construction sector – by 16.3 mln euros or 29.2%.

At the same time exports of enterprises of the second largest sector – manufacturing (almost two fifths of the total value of exports) reduced by 132.7 mln euros or 4.4%.

Also in imports the largest amount of goods – more than three fifths of the total value of imports was imported by enterprises whose main activity is wholesale and retail trade.However, compared to January – September 2013, amount of goods imported by these enterprises shrank by 69.6 mln euros or 1.2%.

In the nine months of 2014, compared to the nine months of the previous year, exports of capital goods has risen by 2.4%, but imports – reduced by 6.1%.Share of these goods in exports comprised 11.5%, but in imports – 12.8%. Capital goods consist of fixed assets, raw materials and other materials foreseen for the further processing.

More information on Latvia’s foreign trade by quarters by kind of activity of enterprises (NACE Rev. 2) and by classification of Broad Economic Categories, Rev. 4 (BEC) is available in CSB database "Foreign trade" section Short term statistics.

 

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