Foreign trade of Latvia in 2010

15.02.2011

The provisional data of the Central Statistical Bureau show that, in 2010 total volume of goods in foreign trade of Latvia at current prices reached 10507.3 mln lats – an increase of 2195.3 mln lats or 26.4%, if compared to 2009. Of which exports volume grew by 1064.3 mln lats or 29.5%, but imports volume – by 1131.0 mln lats or 24.0%.

In 2010 improvement of foreign trade balance was observed, as the exports share in total foreign trade volume increased up to 44.4% (in 2009 – 43.3%).

Latvia’s foreign trade at current prices by quarters, mln lats1

1 Data on the 2nd and 3rd quarter of 2010 have been revised.

Excluding impact of changes of prices of goods exports volume (at constant prices) in 2010 compared to 2009 grew by 19.6%, but imports volume at the same time increased by 15.6%.


Volume changes of foreign trade of Latvia; at current prices

Quarters of 2010

Exports, % (+, -) over

Imports, % (+, -) over

previous quarter

corresponding quarter of previous year

previous quarter

corresponding quarter of previous year

1st quarter

-9.5

+15.7

-6.2

+0.5

2nd quarter

+13.7

+21.1

+8.5

+13.9

3rd quarter

+12.3

+24.9

+16.8

+21.4

4th quarter

-0.7

+14.6

+4.2

+23.9

 

Exports and imports of Latvia according to BEC2 classification, at current prices

Goods

Exports

Imports

2009

2010

2009

2010

mln lats

as % of total volume

mln lats

as % of total volume

mln lats

as % of total volume

mln lats

as % of total volume

Total

3 602.2

100

4 666.5

100

4 709.8

100

5 840.8

100

Capital goods

382.8

10.6

392.0

8.4

503.2

10.7

684.9

11.7

Goods of intermediate consumption

2 010.7

55.8

2 727.8

58.5

2 170.9

46.1

2 772.4

47.5

Consumer goods

930.0

25.8

1 173.5

25.2

1 457.5

30.9

1 542.5

26.4

Other goods

146.3

4.1

239.4

5.1

365.8

7.8

587.7

10.1

Passenger cars3

110.6

3.1

127.7

2.7

100.9

2.1

154.7

2.6

Automotive fuel3

21.8

0.6

6.1

0.1

111.5

2.4

98.6

1.7

2 Broad Economic Categories classification.
3 Those commodities are included in several categories of BEC.

According to BEC classification, exported and imported goods can be grouped in categories by possible kind of their utilisation. Capital goods consist of fixed assets, goods of intermediate consumption and other materials envisaged for the further processing. Goods envisaged for the needs of population are considered to be consumer goods. Other goods not included in the mentioned categories (e.g., army equipment etc. specific goods) are included in the category “other goods”.

Structure of foreign trade of Latvia according to kind of economic activity of enterprises by NACE Rev. 2 classification in 2010, at current prices

Exporters/importers by main kind of their economic activity

Exports

Imports

Foreign trade balance, mln lats (+,-)

mln lats

as % of total volume

mln lats

as % of total volume

Total

4 666.5

100

5 840.8

100

-1174.3

Agriculture, forestry and fishing 

110.3

2.4

29.3

0.5

+81.0

Manufacturing

1 973.0

42.3

946.2

16.2

+1 026.8

 

of which:

 

 

 

 

 

 

manufacture of food products, beverages and tobacco

249.1

5.3

208.3

3.6

+40.8

 

manufacture of textiles, apparel

123.3

2.6

69.8

1.2

+53.5

 

manufacture of wood and paper products; printing

628.4

13.5

128.6

2.2

+499.8

 

 manufacture of chemicals and chemical products; manufacture of pharmaceuticals, medical chemical and botanical products

173.2

3.7

72.3

1.2

+100.9

 

 manufacture of rubber and plastics products, and other non-metallic mineral products

138.9

3.0

83.8

1.4

+55.1

 

manufacture of basic metals and fabricated metal products

335.5

7.2

189.2

3.2

+146.3

 

 manufacture of computer, electronic and optical products; manufacture of electrical equipment

115.9

2.5

70.2

1.2

+45.7

 

manufacture of transport equipment

63.7

1.4

42.3

0.7

+21.4

 

 manufacture of furniture

54.6

1.2

20.0

0.3

+34.6

 

other manufacturing sectors

90.4

1.9

61.8

1.1

+28.6

Electricity, gas, steam and air conditioning supply

41.7

0.9

339.3

5.8

-297.6

Construction

38.7

0.8

65.1

1.1

-26.4

Wholesale and retail trade; repair of motor vehicles and motorcycles

1 599.7

34.3

3 072.7

52.6

-1473.0

Other sections; without breakdown by sections

903.1

19.4

1 388.2

23.8

-485.1

 

Prepared by Foreign trade statistics methodology, analysis and dissemination section
Lilita Laganovska
Tel. 67366604