Foreign trade of Latvia in 2011

15.02.2012

In 2011, the total volume of goods in foreign trade of Latvia at current prices reached LVL 13 599.3 million – LVL 2 992.5 million or 28.2% more than in 2010, according to provisional data of the Central Statistical Bureau. Of which export volume increased by LVL 1 317.1 million or 28.1%, whereas import volume – by LVL 1 675.4 million or 28.3%.

A slight decline in foreign trade balance could be observed in 2011, as export share in the total foreign trade volume decreased to 44.2% (44.3% in 2010).

Foreign trade of Latvia at current prices by quarter, million LVL1

1 Data on the 1st, 2nd and 3rd quarter of 2011 have been revised.

In the result of commodity price changes, export volume at constant prices in 2011 increased by 14.2% and import volume – by 21.0%, as compared to 2010.

Volume changes of foreign trade of Latvia; at constant prices

Quarters 2011

Export, % (+, -) over

Import, % (+, -) over

previous quarter

corresponding quarter of the previous year

previous quarter

corresponding quarter of the previous year

1st quarter

-6.4

+21.8

-6.3

+28.1

2nd quarter

+10.9

+17.8

+10.7

+30.0

3rd quarter

+4.7

+9.9

+9.9

+21.4

4th quarter

+1.9

+10.6

-3.8

+9.9

In 2011, in accordance with the BEC classification the volume of exported capital goods at current prices increased by 17.5%, of intermediate goods – by 23.8% and of consumer goods – by 18.2%, as compared to 2010. In its turn, the increase in the volume of imported goods in the above-mentioned categories comprised 34.9%, 30.6% and 7.6% accordingly.

Export and import of Latvia according to the BEC2 classification, at current prices

Commodity groups

Export

Import

2010

2011

2010

2011

mln LVL

as % of total volume

mln LVL

as % of total volume

mln LVL

as % of total volume

mln LVL

as % of total volume

Total

4 694.9

100

6 012.0

100

5 911.9

100

7 587.3

100

Capital goods

405.4

8.6

476.2

7.9

669.5

11.3

903.3

11.9

Intermediate goods

2 795.2

59.5

3 460.3

57.6

2 851.6

48.2

3 724.4

49.1

Consumer goods

1 208.0

25.7

1 427.4

23.8

1 666.3

28.2

1 792.6

23.6

Goods not elsewhere specified; not broken down by category

148.4

3.2

446.8

7.4

461.4

7.8

766.9

10.1

Passenger motor cars 3

131.5

2.8

198.4

3.3

164.6

2.8

268.6

3.6

Automotive fuel 3

6.4

0.1

2.9

0.0

98.5

1.7

131.5

1.7

2 Classification by Broad Economic Categories.
3 Commodities included in several BEC categories.

According to the BEC classification, exported and imported goods can be grouped in categories by possible kind of their utilisation. Capital goods are composed of fixed assets, whereas intermediate goods – industrial supplies provided for further processing. Goods produced for the needs of the population are treated as consumer goods. Other goods not included in the above-mentioned categories (e.g., military equipment and other specific goods) belong to the category “goods not elsewhere specified”.

Composition of foreign trade of Latvia by kind of economic activity of enterprises according to NACE Rev. 2 classification in 2011, at current prices

Exporters/importers by main kind of economic activity

Export

Import

Foreign trade balance, mln LVL (+,-)

mln LVL

as % of total volume

mln LVL

as % of total volume

Total

6 012.0

100

7 587.3

100

-1 575.3

Agriculture, forestry and fishing 

129.8

2.2

63.1

0.8

66.7

Mining and quarrying

51.7

0.9

13.8

0.2

37.9

Manufacturing

2 419.8

40.2

1 232.9

16.2

1 186.9

 

of which:

 

 

 

 

 

 

manufacture of food products, beverages and tobacco

307.0

5.1

233.4

3.1

73.6

 

manufacture of textiles, apparel

151.5

2.5

94.9

1.3

56.6

 

manufacture of wood and paper products; printing

726.4

12.1

148.8

2.0

577.5

 

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

215.2

3.6

111.2

1.5

104.0

 

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

187.4

3.1

117.0

1.5

70.4

 

manufacture of basic metals and fabricated metal products

422.3

7.0

281.4

3.7

140.9

 

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

148.3

2.5

83.4

1.1

64.9

 

manufacture of transport equipment

83.9

1.4

51.3

0.7

32.5

 

 manufacture of furniture

63.2

1.1

23.8

0.3

39.4

 

other manufacturing sectors

114.7

1.9

87.5

1.2

27.2

Electricity, gas, steam and air conditioning supply

77.7

1.3

491.0

6.5

-413.3

Water supply, sewerage, waste management and remediation activities

40.8

0.7

12.0

0.2

28.9

Construction

39.2

0.7

85.3

1.1

-46.1

Wholesale and retail trade; repair of motor vehicles and motorcycles

2 348.6

39.1

4 372.6

57.6

-2 024.0

Transport and storage

243.9

4.1

161.5

2.1

82.4

Other kinds of economic activity; without breakdown

660.5

11.0

1 155.1

15.2

-494.6

 

Prepared by Foreign Trade Statistics Methodology, Analysis and Dissemination Section
Lilita Laganovska
tel. 67366604