Foreign trade of Latvia in 2005

17.02.2006

The value of Latvia’s foreign trade in 2005 at current prices reached 7706.1 mln lats, an increase of 1750.8 mln lats or 29.4% compared to 2004, according to the Central Statistical Bureau.

In recent years a positive trend has been observed in improving the external trade balance of Latvia, that is, the difference between the total value of imports and exports is decreasing persistently.

Latvia’s foreign trade in 2004-2005

Exports

Imports

2004

2005

2004

2005

thsd
lats

Change (+,-) over the corresp. period of previous year, %

thsd
lats

Change (+,-) over the corresp. period of previous year, %

Total

2150027

2871401

+33.6

3805258

4834713

+27.1

I quater

457245

628621

+37.5

792065

999732

+26.2

II quater

525470

725145

+38.0

949842

1175970

+23.8

III quater

558549

735703

+31.7

983612

1242394

+26.3

IV quater

608763

781932

+28.4

1079739

1416617

+31.2

december

206937

261697

+26.5

372968

482096

+29.3

The value of commodity exports in 2005 reached 2871.4.mln lats, an increase of 721.4 mln lats or 33.6% compared with the previous year. The value of exports grew in all commodity groups but for the most significant export goods the increases were 56.6% for machinery and mechanical appliances; electrical equipment, 50.9% for prepared foodstuffs and alcoholic and non-alcoholic beverages, 24.7% for base metals and articles of base metals and 29.3% for the products of the chemical and allied industries. Growth in the export value of wood and articles of wood as well as in textiles and textile articles was less rapid, by 8.6%. Of the commodities, the share of which in the total export value is currently not large, the export of plastics and articles thereof rose particularly rapidly (by 55.2%), as did the export of pulp of wood; paper and cardboard (by 40.8%).

In 2005 the dispatch of goods to the EU countries accounted for 76.2% of the total export value of Latvia (77.2% in 2004) reaching 2188.6 mln lats, up by 527.8 mln lats or 31.8% in comparison with 2004. The most significant increases in the dispatch were 67.0 % for machinery and mechanical appliances; electrical equipment, 40.8% for prepared foodstuffs, alcoholic and non-alcoholic beverages and tobacco, 26.1% for base metals and articles of base metals, 20.7% for the products of the chemical and allied industries and 8.9% for wood and articles of wood.

In 2005 commodity exports to the CIS countries accounted for 12.3 % of the total value of Latvia’s exports (11.3% in 2004) reaching 353.7 mln lats, up by 110.9 mln lats or 45.7% in comparison with 2004. The most significant increases in the exports were 67.9% for the products of the chemical and allied industries, 56.0% for machinery and mechanical appliances and electrical equipment, 53.4% for textiles and textile articles and 50.2% for food products, alcoholic and non-alcoholic beverages and tobacco. By contrast, the export of wood and articles of wood decreased by 48.6% and that of vegetable products fell by 14.1%.

The value of imports in 2005 in Latvia reached 4834.7 mln lats, up by 1029.4 mln lats or 27.1% compared with the previous year. The value of imports rose in all commodity groups. The fastest increases in imports were 56.9% for mineral products, 26.5% for transport vehicles, 26.0% for machinery and mechanical appliances; electrical equipment, 29.2% for plastics and articles thereof and 28.7% for food products, alcoholic and non-alcoholic beverages and tobacco. Of the commodities the share of which in the total import value is not large, a particularly rapid rise was observed in the imports of miscellaneous manufactured articles (mainly furniture) – by 32.3%.

In 2005 the arrival of goods from the EU countries accounted for 75.0% of the total import value of Latvia (75.5% in 2004) reaching 3626.2 mln lats, an increase of 754.9 mln lats or 26.3% in comparison with 2004. The most significant increases in the arrival were 39.3% for mineral products, 30.8% for transport vehicles, 30.6% for prepared foodstuffs, alcoholic and non-alcoholic beverages and tobacco, 24.1% for machinery and mechanical appliances; electrical equipment and 22.8% for base metals and articles of base metals

In 2005 commodity imports from the CIS countries accounted for 16.8% of the total value of Latvia’s imports (16.4% in 2004) reaching 813.5 mln lats, up by 190.0 mln lats or 30.5% in comparison with 2004. The highest increases in the imports were 64.9% for mineral products, 37.7% for machinery and mechanical appliances; electrical equipment and 13.1% for food products as well as wood and articles of wood. By contrast, there were decreases of 33.1% in the imports of transport vehicles and 2.1% in the imports of the products of the chemical and allied industries.

Main partners of Latvia’s foreign trade in -2005

2004

2005

thsd lats

ratio, %

thsd lats

ratio, %

Exports total

2 150 027

100

2 871 401

100

Lithuania

203 496

9.5

311 525

10.8

Estonia

180 237

8.4

309 275

10.8

Germany

267 472

12.4

294 500

10.3

Great Britain

278 498

13.0

290 272

10.1

Russia

137 467

6.4

228 336

8.0

Imports - total

3 805 258

100

4 834 713

100

Germany

556 884

14.6

669 262

13.8

Lithuania

476 550

12.5

662 459

13.7

Russia

332 034

8.7

413 802

8.6

Estonia

272 348

7.2

380 993

7.9

Poland

213 744

5.6

307 002

6.3

Exports and imports by commodity group in 2005 (thsd lats)

2005

December 2005

Total

EU - 25

% of
total value

Total

EU - 25

% of total value

Exports - total

2871401

2188603

76.2

261697

188904

72.2

Agricultural and food products (I-IV)

351222

243649

69.4

42024

27070

64.4

prepared foodstuffs; alcoholic and non-alcoholic beverages (IV)

199827

107166

53.6

22329

9333

41.8

Mineral products (V)

265627

198875

74.9

21453

15234

71.0

Products of the chemical and allied industries (VI)

159698

95401

59.7

16008

9381

58.6

Plastics and articles thereof (VII)

71852

53378

74.3

5929

4456

75.2

Wood and articles of wood (IX)

711551

635814

89.4

54690

47967

87.7

Pulp of wood; paper, paperboard (X)

62031

37612

60.6

5868

3545

60.4

Textiles and textile articles (XI)

249851

191837

76.8

19841

14531

73.2

Footwear, headgear, umbrellas and other articles (XII)

9576

8315

86.8

882

845

95.8

Articles of stone, plaster, cement, glassware and ceramic products (XIII)

58372

43790

75.0

4231

2955

69.8

Base metals and articles of base metals (XV)

378163

294639

77.9

32696

26549

81.2

Machinery and mechanical appliances: electrical equipment (XVI)

264926

170276

64.3

27761

14883

53.6

Transport vehicles (XVII)

112339

83336

74.2

11770

9410

79.9

Optical instruments and apparatus, clocks and watches, musical instruments (XVIII)

32414

17691

54.6

4651

1161

25.0

Miscellaneous manufactured articles including furniture (XX)

126388

102215

80.9

10840

8432

77.8

Other goods

17391

11775

67.7

3053

2485

81.4

Imports - total

4834713

3626204

75.0

482096

357433

74.1

Agricultural and food products (I-IV)

567969

494254

87.0

60629

52168

86.0

prepared foodstuffs; alcoholic and non-alcoholic beverages; tobacco (IV)

294804

248227

84.2

33755

28619

84.8

Mineral products (V)

755666

298987

39.6

75681

29262

38.7

Products of the chemical and allied industries (VI)

402693

319417

79.3

39068

29008

74.3

Raw hides, leather, fur skins and articles thereof (VIII)

245758

221169

90.0

18852

17027

90.3

Wood and articles of wood (IX)

141898

54860

38.7

11414

5102

44.7

Pulp of wood; paper, cardboard (X)

143490

121763

84.9

12439

10158

81.7

Textiles and textile articles (XI)

237150

202489

85.4

18703

15300

81.8

Footwear, headgear, umbrellas and other articles (XII)

39721

31074

78.2

2179

1657

76.0

Articles of stone, plaster, cement, glassware and ceramic products (XIII)

125289

106153

84.7

11088

9122

82.3

Base metals and articles of base metals (XV)

446305

284124

63.7

41898

23486

56.1

Machinery and mechanical appliances; electrical equipment (XVI)

952279

817320

85.8

102188

86527

84.7

Transport vehicles (XVII)

523380

469158

89.6

57953

53515

92.3

Optical instruments and apparatus (including medical); clocks and watches; musical instruments (XVIII)

81043

67532

83.3

9885

8226

83.2

Miscellaneous manufactured articles (XX)

139946

118365

84.6

17695

15350

86.7

Other goods

32126

19539

60.8

2424

1525

62.9


1) This commodity group includes useful minerals, oil and oil products, natural gas and electricity.

Prepared by the Foreign Trade Statistics Section
Lilita Laganovska
Tel. 7366604