Foreign trade of Latvia in August 2007

10.10.2007

Compared to July 2007, the value of exports in August 2007 increased by 2.3% or 7.4 mln lats, but in comparison with August 2006 it increased by 15.6 % or 45.2 mln lats, reaching 335.7 mln lats, according to Central Statistical Bureau data.

The value of imports in August 2007 was, in turn, 10.6% or 75.8 mln lats lower than in July 2007*, but 12.9% or 73.1 mln lats higher compared to August 2006, reaching 641.7 mln lats.

The total foreign trade turnover in August 2007 was 13.8% or 118.3 mln lats higher than in the corresponding period of the previous year and its value was as high as 977.4 mln lats.

Latvia’s foreign trade, in mln lats1

__________________
You can find more data on foreign trade for time period 2004 and onwards on the CSB home page section – Data area.
Main indicators. Data on May 2007 have been revised.

Exports

Imports

Total

ES – 27,
% of total of the group

Total

ES – 27,
% of total of the group

thsd lats

% of total

thsd.lats

% of total

Total

335653

100

75.6

641717

100

77.8

Agricultural and food products (I-IV)

48389

14.4

71.2

73025

11.4

89.1

Live animals and animal products (I)

13836

4.1

88.1

13523

2.1

94.4

Vegetable products (II)

7314

2.2

86.1

14107

2.2

85.7

Fats and oils (III)

621

0.2

98.1

3057

0.5

95.1

Prepared foodstuffs;
(including alcoholic and non-alcoholic beverages) (IV)

26618

7.9

57.7

42337

6.6

88.2

Mineral products (V)1

12351

3.7

70.7

88990

13.9

56.8

Products of the chemical and allied industries (VI)

22978

6.8

70.3

50887

7.9

79.5

Plastics and articles thereof; rubber and articles thereof (VII)

11152

3.3

77.8

35968

5.6

88.2

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

587

0.2

57.8

2596

0.4

82.6

Wood and articles of wood (IX)

78156

23.3

90.5

21989

3.4

45.8

Pulp of wood; paper and paperboard
(X)

6163

1.8

82.4

16828

2.6

87.0

Textiles and textile articles (XI)

23027

6.9

70.8

28659

4.5

83.5

Footwear, headgear, umbrellas and other articles (XII)

1042

0.3

94.3

6648

1.0

81.0

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

7095

2.1

77.8

19677

3.1

85.2

Precious, semiprecious stone, precious metals, metals clad with precious metal, articles thereof (XIV)

506

0.2

62.8

3028

0.5

38.4

Base metals and articles of base metals (XV)

52122

15.5

78.6

61518

9.6

58.4

Machinery and mechanical appliances; electrical equipment (XVI)

34951

10.4

51.2

116178

18.1

84.7

Transport vehicles (XVII)

21029

6.3

74.6

84923

13.2

92.1

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

2448

0.7

62.5

9364

1.5

82.6

Arms and ammunition (XIX)

11

0.0

0.0

439

0.1

66.7

Miscellaneous manufactured articles; including furniture (XX)

13575

4.0

75.3

20964

3.3

81.1

Works of art, collectors pieces and antiques (XXI)

15

0.0

100

34

0.0

79.4

Other goods

56

0.0

100

-

-

-

_____________________
[1] This group includes useful minerals, oil and oil products, natural gas and electricity.

In August 2007, in comparison with August 2006, the value of the most important commodity in the exports of Latvia – wood and articles of wood, increased by 29.5%. Exports for products of the chemical and allied industries increased noticeably - by 51.5%, exports of agriculture and food products- by 21.5%, exports of plastics and articles thereof; rubber and articles thereof- by 21.4%. But the exports of mineral products decreased by 31.8%.

In August 2007, in comparison with July 2007 the value of exports of plastics and articles thereof; rubber and articles thereof increased by 30.8%, of textiles and textile articles- by 24.6%, of mineral products - by 22.7%, of miscellaneous manufactured articles including furniture – by 20.5%, of base metals and articles of base metals- by 8.5%. But the exports of products of the chemical and allied industries decreased by 15.3%, of wood and articles of wood- by 8.5%.

In August 2007, in comparison with August 2006 the import value increased in all main commodity groups. The imports of wood and articles of wood increased by 69.4%, of products of the chemical and allied industries- by 23.8%, of agriculture and food products- by 21.7%, of plastics and articles thereof; rubber and articles thereof- by 13.7%, of base metals and articles of base metals- by 12.0%.

In August 2007, in comparison with July 2007 the import value increased only these commodity groups- textiles and textiles articles- by 13.8%, on pulp of wood; paper and paperboard- by 9.2%, on agriculture and food products- by 4.2%. The largest import value decrease was in the following commodity groups- machinery and mechanical appliances, electrical equipment- by 32.4%, transport vehicles- by 17.8%. By 7.2% decreased import of base metals and articles of base metals, of plastics and articles thereof; rubber and articles thereof- by 2.2%, of mineral products- by 2.2%, of wood and articles of wood- by 1.0%.

Main partners of Latvia’s foreign trade

Groups of countries,
Countries

July 2007

August 2007

August 2007 value in
% (+,-)against

thsd lats

ratio, %

thsd lats

ratio, %

July 2007

August 2007

Exports - total

328256

100

335653

100

2.3

15.6

ES – 27 countries

247180

75.3

253624

75.6

2.6

18.2

ES – 25 countries

246594

75.1

252605

75.3

2.4

17.9

ES – 15 countries

134704

41.0

138065

41.1

2.5

10.4

Other countries:

CIS

50275

15.3

52755

15.7

4.9

25.0

other

30801

9.4

29274

8.7

-5.0

-13.0

Main export partners:

Lithuania

48912

14.9

50606

15.1

3.5

18.3

Estonia

49524

15.1

49584

14.8

0.1

43.5

Russia

34401

10.5

37531

11.2

9.1

51.7

Germany

29474

9.0

29071

8.7

-1.4

-4.6

Sweden

23682

7.2

27654

8.2

16.8

66.0

Imports - total

717477

100

641717

100

-10.6

12.9

ES – 27 countries

584081

81.4

499517

77.8

-14.5

11.9

ES – 25 countries

583043

81.3

497919

77.6

-14.6

11.7

ES –15 countries

299858

41.8

260806

40.6

-13.0

3.5

Other countries:

CIS

76665

10.7

84568

13.2

10.3

7.2

other

56731

7.9

57632

9.0

1.6

33.7

Main import partners:

Lithuania

113900

15.9

104687

16.3

-8.1

25.0

Germany

114590

16.0

88743

13.8

-22.6

-7.8

Estonia

52213

7.3

56449

8.8

8.1

13.7

Russia

47022

6.6

51344

8.0

9.2

30.4

Poland

47212

6.6

50053

7.8

6.0

19.6

____________________
* in July information on a whole manufacturing equipment- production unit amounting to 41.5 mln lats was included in statistical data. The import of its parts was carried out in a longer period of time, but in accordance with the methodology of foreign trade indicators, information on this production unit in statistical data appears only when all parts of it have been imported.

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