Exports of goods still growing faster than imports

15.11.2013

Provisional data compiled by the Central Statistical Bureau of Latvia show that, in comparison with the nine months of 2012, exports of goods (at current prices) during the nine moths of 2013 has grown by LVL 165.0 million (EUR 234.7 million) or by 3.3%, while imports – only by LVL 33.9 million (EUR 48.3 million) or by 0.5%.

The changes have influenced also foreign trade balance – share of exports in the total foreign trade volume has reached 44.3%. As compared to the nine months of previous year, the indicator accounts for 43.6 %.

Latvia’s foreign trade by quarter; at current prices, mln LVL

Data source: Central Statistical Bureau of Latvia

Excluding impact of the price changes, exports volume (at current prices) during the time period from January to September 2013, compared to nine months of the last year, has risen by 0.8%, while imports volume has dropped by 0.4%.

Compared to the 3rd quarter of 2012, exports at current prices in 3rd quarter of 2013 has declined by 4.4%, while at constant prices it has dropped by 4.7%; whereas imports at current prices has reduced by 2.7% and at constant prices it has decreased by 2.0%.

Changes in Latvia’s foreign trade by quarter (at current and constant prices);

as per cent of corresponding quarter of previous year

Data source: Central Statistical Bureau of Latvia

Grouping of importers and exports by the main kind of economic activity allows acquiring information on the amount of goods imported or exported by the enterprises belonging to the corresponding sector:

Latvia’s foreign trade by economic activity (NACE Rev. 2) in January – September 2013;
at current prices

Exporters/importers by main kind of economic activity

Exports

Imports

mln LVL

 

mln EUR*

as % of total volume

mln LVL

 

mln EUR*

as % of total volume

Total

5 142.5

7 317.1

100

6 471.1

9 207.6

100

Agriculture, forestry and fishing  

98.7

140.5

1.9

30.9

44.0

0.5

Mining and quarrying

47.4

67.5

0.9

13.0

18.5

0.2

Manufacturing

2 059.7

2 930.7

40.1

959.1

1 364.7

14.8

Electricity, gas, steam and air conditioning supply

39.7

56.5

0.8

308.6

439.1

4.8

Water supply, sewerage, waste management and remediation activities

28.9

41.1

0.6

24.1

34.3

0.4

Construction

33.5

47.7

0.7

77.3

110.0

1.2

Wholesale and retail trade; repair of motor vehicles and motorcycles

2 031.4

2 890.4

39.5

3 864.6

5 498.8

59.7

Transport and storage

190.3

270.8

3.7

115.1

163.8

1.8

Other kinds of economic activity; without breakdown

612.8

871.9

11.9

1 078.4

1 534.4

16.7

* Data were recalculated into euro basing in the fixed exchange rate 1 EUR = LVL 0.702804

In January-September 2013, bulk of goods – two fifths of the total exports – was exported by the enterprises engaged in manufacturing. Moreover, in comparison with the nine months of 2012, exports in these enterprises has declined by LVL 56.8 million (EUR 80.9 million) or by 2.7%.

Whereas in imports three fifths of all goods were traded in the enterprises dealing with wholesale and retail trade. Compared to the nine months of 2012, imports in these enterprises has dropped by LVL 57.9 million (EUR 82.4 million) or by 1.5%.

Foreign trade data grouped according to the final consumption indicate that, compared to the nine months of 2013, exports of capital goods in the nine months of 2013 has increased significantly – by 24.8%, while imports thereof has reduced by 10.0%. Share of the mentioned goods in exports accounted for 11.0%, while in imports – for 12.6%. Capital goods consist of fixed assets, raw materials, and other materials envisaged for the further processing.

More information on foreign trade of Latviain breakdown by quarter, economic activity (NACE Rev. 2) and classification by Broad Economic Categories (BEC Rev. 4) is available in CSB database.

 

More information:
Foreign Trade Statistics Methodology, Analysis and Dissemination Section
Lilita Laganovska
Tel. +371 67366604