Foreign trade of Latvia in 2012

15.02.2013

In 2012, the total volume of goods in foreign trade of Latvia at current prices reached LVL 15,594.9 million – LVL 1,877.3 million or 13.7% more than in 2011, according to provisional data of the Central Statistical Bureau.Of which exports volume increased by LVL 899.3 million or 15.0%, whereas imports volume – by LVL 977.9 million or 12.7%.

In 2012, as the share of exports in the total volume of foreign trade increased up to 44.2% (43.7% in 2011), the foreign trade balance improved.

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

1Data on 1st, 2nd and 3rd quarter of 2012 have been revised.

As a result of commodity price changes, exports volume at constant prices in 2012 rose by 10.9% and imports volume – by 4.4%, as compared to 2011.

Changes in volume of foreign trade of Latvia; at constant prices

Quarters of 2012

Exports, % (+, -) over

Imports, % (+, -) over

previous quarter

corresponding quarter of the previous year

previous quarter

corresponding quarter of the previous year

1st quarter

-7.7

+10.8

-9.4

+12.0

2nd quarter

+5.0

+5.0

+5.7

+7.4

3rd quarter

+13.2

+13.0

+4.2

-0.1

4th quarter

+4.0

+14.1

+0.5

+0.3

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

Goods

Exports

Imports

2011

2012

2011

2012

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

5 998.5

100

6 897.8

100

7 719.1

100

8 697.0

100

Capital goods

502.5

8.4

636.7

9.2

992.5

12.9

1 191.1

13.7

Goods of intermediate consumption

3 547.1

59.1

3 932.1

57.0

3 833.1

49.6

4 172.6

48.0

Consumer goods

1 448.2

24.1

1 664.2

24.1

1 899.9

24.6

2 025.9

23.3

Other goods

294.1

4.9

528.8

7.7

579.9

7.5

934.5

10.7

Passenger cars 3

203.7

3.4

129.9

1.9

282.9

3.7

238.0

2.7

Automative fuel 3

2.9

0.1

6.1

0.1

130.8

1.7

134.9

1.6

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

According to the BEC classification, exported and imported goods can be grouped into categories by the possible utilisation thereof. 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 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 in 2012, at current prices

Exporters/importers by main kind of economic activity

Exports

Imports

Foreign trade balance, mln LVL (+,-)

mln LVL

as % of total volume

mln LVL

as % of total volume

Total

6 897.8

100

8 697.0

100

-1 799.2

Agriculture, forestry and fishing  

128.2

1.9

54.5

0.6

+73.7

Mining and quarrying

54.2

0.8

13.8

0.2

+40.4

Manufacturing

2 781.4

40.3

1 409.3

16.2

+1 372.1

 

of which:

 

 

 

 

 

 

manufacture of food products, beverages and tobacco

356.2

5.2

291.3

3.3

+64.9

 

manufacture of textiles, wearing apparel

164.5

2.4

101.2

1.2

+63.3

 

manufacture of wood and paper products; printing

765.4

11.1

171.3

2.0

+594.1

 

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

250.7

3.6

145.8

1.7

+104.9

 

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

206.9

3.0

126.2

1.5

+80.7

 

manufacture of basic metals and fabricated metal products

554.7

8.0

295.3

3.4

+259.5

 

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

181.5

2.6

101.8

1.2

+79.7

 

manufacture of transport equipment

107.3

1.6

58.1

0.7

+49.3

 

manufacture of furniture

69.7

1.0

25.2

0.3

+44.5

 

other manufacturing sectors

124.4

1.8

93.2

1.1

+31.1

Electricity, gas, steam and air conditioning supply

49.7

0.7

524.6

6.0

-474.9

Water supply, sewerage, waste management and remediation activities

29.0

0.4

15.3

0.2

+13.7

Construction

42.1

0.6

128.4

1.5

-86.2

Wholesale and retail trade; repair of motor vehicles and motorcycles

2 768.1

40.1

5 145.9

59.2

-2 377.7

Transport and storage

329.6

4.8

184.6

2.1

+145.1

Other kinds of economic activity; without breakdown

715.3

10.4

1 220.7

14.0

-505.4

Value of manufacturing sector exports in 2012, as compared to 2011, grew by LVL 333.5 million or by 13.6%. Manufacturing sector comprised 37.1% of the total exports value increase.

 

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