Foreign trade balance in April rose by 4.5%

09.06.2015

Provisional data of the Central Statistical Bureau (CSB) show that in April 2015 compared to March exports value of goods at current prices grew by 4.5%, but imports value of goods – by 0.5%. In April Latvia exported goods in amount of 903.6 mln euros, but imported – in amount of 1 062.0 mln euros. In April foreign trade balance slightly improved as exports in total foreign trade value increased to 46.0% (in March 2015 – 45.0%).

Latvia’s foreign trade, mln euros1

Data source: Central Statistical Bureau of Latvia

Main changes in exports in April, compared to March:

  • exports of machinery and mechanical appliances; electrical equipment grew by 26.2 mln euros or 18.8%,
  • exports of basic metals and articles of basic metals grew by 13.6 mln euros or 18.5%,
  • exports of optical instruments and apparatus (including medical); clocks and watches, musical instruments grew by 11.0 mln euros or 2.2 times,
  • exports of vehicles and associated transport equipment dropped by 6.6 mln euros or 14.5%.

Main changes in imports in April, compared to March:

  • imports of machinery and mechanical appliances; electrical equipment increased by 26.9 mln euros or 13.1%,
  • imports of basic metals and articles of basic metals grew by 9.5 mln euros or 11.7%,
  • imports of vehicles and associated transport equipment dropped by 27.5 mln euros or 31.1%,
  • imports of products of the chemical and allied industries declined by 8.7 mln euros or 6.6%.

In April main export partners were Lithuania (17.6% of total export), Estonia (12.6%), Germany (6.4%) and the United Kingdom (5.6%); main import partners were Lithuania (17.1% of total import), Poland (11.2%), Germany (10.1%) and Estonia (9.2%).

Foreign trade of Latvia by country groups in April 2015, at current prices

 

Exports

Imports

 

mln euros

% of

total

In % (+, -) over March 2015

mln euros

% of

total

% (+, -) over

March 2015

Total

903.6

100

+4.5

1 062.0

100

+0.5

Member States of the European Union

658.4

72.9

-1.4

840.2

79.1

-2.1

   Euro area countries

444.9

49.2

+4.0

617.3

58.1

-0.02

CIS countries

106.6

11.8

+21.9

123.9

11.7

+13.2

Other countries

138.6

15.3

+26.8

97.9

9.2

+9.8

The main partner in trade with third countries was Russia, share of which in total Latvian exports in April accounted for 8.3%, but in imports – 8.1%.

Changes of main commodities in Latvia’s exports in April 2015, at current prices

 

thsd euros

% of

total

% (+, -) over

April 2014

March 2015

average of previous 12 months

Total

903 599

100

+7.0

+4.5

+5.5

wood and wood products; wood charcoal

165 333

18.3

+11.0

-2.1

+15.4

electrical machinery and equipment

117 669

13.0

+26.8

+24.2

+11.8

mineral fuels, mineral oils and products of their distillation

59 217

6.6

-10.5

-4.1

-10.6

machinery and mechanical appliances

47 740

5.3

+12.9

+7.3

+3.8

iron and steel

37 235

4.1

-4.7

+40.8

+21.9

vehicles other than railway or tramway

34 774

3.8

-12.8

-16.5

-9.6

articles of iron and steel

30 418

3.4

+2.7

+5.8

+6.7

pharmaceutical products

27 313

3.0

+12.0

-7.4

+5.0

beverages, spirits and vinegar

23 498

2.6

-27.4

+3.5

-43.9

furniture, other furnishing articles; prefabricated buildings

22 219

2.5

+10.8

+6.3

+1.8

plastics and articles thereof

22 038

2.4

+8.8

-1.9

+6.5

Rise of exports of electrical machinery and equipment in April 2015, as compared to April 2014, was affected by the increase in exports of machines for the reception, conversion and transmission or regeneration of voice, images or other data by 7.5 mln euros or 85.4%. But exports of beverages, spirits and vinegar reduced as exports of spirits dropped by 5.9 mln euros or 25.7%.

Changes of main commodities in Latvia’s imports in April 2015, at current prices

 

thsd euros

% of

total

% (+, -) over

April 2014

March 2015

average of previous 12 months

Total

1 062 045

100

-1.4

+0.5

+1.3

electrical machinery and equipment

139 839

13.2

+34.7

+26.4

+12.1

mineral fuels, mineral oils and products of their distillation

119 584

11.3

-16.5

+1.6

-14.2

machinery and mechanical appliances

92 706

8.7

-12.3

-2.4

-0.2

vehicles other than railway or tramway

59 342

5.6

-22.6

-28.8

-18.4

pharmaceutical products

46 570

4.4

+9.8

-8.9

+12.7

plastics and articles thereof

46 125

4.3

+0.1

+0.5

+6.6

iron and steel

43 404

4.1

+8.7

+38.4

+15.7

wood and wood products; wood charcoal

32 252

3.0

+3.2

+4.5

+12.3

Rise of imports of electrical machinery and equipment in April 2015, as compared to April 2014, was affected by the increase in imports of machines for the reception, conversion and transmission or regeneration of voice, images or other data by 8.4 mln euros or 4 times. In turn, decline in imports of passenger cars by 19.6 mln euros or by 53.5% significantly influenced the total imports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof.

More information on Latvia’s foreign trade by months and quarters by country groups and commodity groups is available in the CSB data base section "Foreign trade".

 

Data on January, May, June, July, August, September, October and November 2014, as well as on January 2015 were revised.

 

More information:
Foreign trade statistics methodology, analysis and dissemination section
Elga Bendrāte
Tel. +371 67366889