Foreign trade of Latvia in August 2008

10.10.2008

Total foreign trade turnover in current prices in August 2008 reached 952.0 mln lats – less by 60.4 mln lats or 6.0% than a month before and less by 59.6 mln lats or 5.9% than in August last year, according to Central Statistical Bureau data.

Latvia’s foreign trade, in mln lats1

1) Data on December 2007 and May 2008 have been revised.

Main commodities in Latvia’s exports in August 2008, at current prices

Total

% (+, -) over

EU countries, % of total of the group

thsd lats

% of total

July 2008

August 2007

Exports - total

362 872

100

-1.9

+4.1

71.2

Agricultural and food products (I-IV)

56 699

15.6

+1.5

+9.7

65.7

of which - prepared foodstuffs (IV)

26 668

7.3

+0.1

+2.2

48.7

Products of the chemical and allied industries (VI)

23 647

6.5

-24.2

-5.3

62.0

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

11 842

3.3

+5.1

+7.3

74.6

Wood and wood products (IX)

58 396

16.1

-3.1

-27.7

88.7

Textiles and textile articles (XI)

21 045

5.8

+15.0

-8.9

71.7

Base metals and articles of base metals (XV)

80 247

22.1

+6.3

+57.1

68.5

Machinery and mechanical appliances; electrical equipment (XVI)

43 332

11.9

-2.3

+5.4

67.6

Transport vehicles (XVII)

25 347

7.0

-12.5

+23.2

71.4

Miscellaneous manufactured articles; including furniture (XX)

11 629

3.2

-8.9

-14.7

68.4

Other goods

30 688

8.5

-2.2

+0.2

66.2

In August 2008 compared to month before most rapid decrease at current prices was in exports of inorganic chemical products – by 92.6%, of wheat and meslin – by 53.3%, of pharmaceutical products – by 23.1%, of perfumery and cosmetics – by 16.3%, machinery and mechanical appliances – by 8.0%, of sawn wood – by 7.0%, but there was an increase in exports of articles of apparel and accessories knitted or crocheted – by 25.0%, of prepared or preserved fish, crustaceans, molluscs – by 21.1%, of iron and non-alloy steel – by 20.0%, of articles of iron or steel – by 12.7%.

Compared to August 2007, the most notable increase witnessed exports of wheat and meslin (exported to Morocco, Norway and Estonia) – 3.2 times, of iron and non-alloy steel – by 69.3%, of articles of iron or steel – by 32.7%, of electrical machinery and equipment – by 8.7%, but the exports of wood in the rough decreased by 43.4%, of sawn wood – by 43.2%, of semi-manufactures and articles of plastics, scrap – by 6.7%, of articles of apparel, not knitted or crocheted - by 3.5%.

Main commodities in Latvia’s imports in August 2008, at current prices

Total

% (+, -) over

EU countries, % of total of the group

thsd lats

% of total

July 2008

August 2007

Imports - total

589 136

100

-8.3

-11.1

75.7

Agricultural and food products (I-IV)

81 663

13.9

-2.8

+8.3

89.4

of which - prepared foodstuffs (IV)

42 225

7.2

-8.5

-0.0

85.9

Mineral products (V) 1)

117 166

19.9

+7.1

+40.7

54.2

Products of the chemical and allied industries (VI)

47 869

8.1

-20.7

-8.1

71.9

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

29 242

5.0

-7.4

-18.9

88.9

Wood and wood products (IX)

9 992

1.7

-12.4

-55.9

63.3

Textiles and textile articles (XI)

22 383

3.8

-0.8

-24.4

82.2

Base metals and articles of base metals (XV)

62 556

10.6

-25.1

-2.8

60.8

Machinery and mechanical appliances; electrical equipment (XVI)

106 668

18.1

-3.7

-16.4

85.3

Transport vehicles (XVII)

46 704

7.9

-23.8

-48.3

90.3

Miscellaneous manufactured articles; including furniture (XX)

15 865

2.7

+0.2

-27.4

78.4

Other goods

49 028

8.3

-5.2

-18.1

83.4

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

Compared to previous month, in August 2008 the imports of compound chemical products at current prices reduced by 45.1%, of passenger cars – by 33.5%, of iron and non-alloy steel – by 30.6%, of pharmaceutical products – by 17.6%, of non-ferrous metals and articles thereof – by 15.0%, of sawn wood – by 14.0% however, the increase in imports was on electricity – by 77.4%, on natural gas – by 6.4%, and on diesel oil – by 6.3%.

Compared to August 2007 the most notable decrease had imports of sawn wood – by 73.4 %, of trucks – by 65.3%, of passenger cars – by 59.6%, of mobile telephones – by 43.0%, of articles of apparel, not knitted or crocheted – by 26.0%, of machinery and mechanical appliances – by 18.9%, but imports of prepared sugar (imports from Finland, Denmark and Poland) increased 2.4 times, of natural gas – 2.3 times, of electricity – by 90.0%, of swine, fresh, chilled or frozen – by 29.6%.

Main partners of Latvia’s foreign trade (at current prices)

Groups of countries, countries

August 2008

July 2008

August 2007

thsd lats

% of total

thsd lats

% of total

thsd lats

% of total

Exports - total

362 872

100

369 857

100

348 629

100

EU countries,

258 328

71.2

276 612

74.8

266 600

76.5

CIS

53 255

14.7

55 336

15.0

52 755

15.1

Other countries

51 289

14.1

37 909

10.2

29 274

8.4

Main exports partners:

Lithuania

57 075

15.7

67 283

18.2

55 863

16.0

Estonia

50 873

14.0

51 827

14.0

52 481

15.1

Russia

34 294

9.5

37 754

10.2

37 531

10.8

Germany

24 251

6.7

30 710

8.3

30 029

8.6

Sweden

24 078

6.6

22 566

6.1

31 042

8.9

Denmark

17 601

4.9

15 211

4.1

13 033

3.7

United Kingdom

15 990

4.4

20 996

5.7

23 974

6.9

Imports - total

589 136

100

642 521

100

663 001

100

EU countries,

EU countries,

446 166

75.7

480 567

74.8

520 802

78.6

CIS

CIS

92 297

15.7

108 612

16.9

84 568

12.8

Other

Other countries

50 673

8.6

53 342

8.3

57 631

8.7

Main imports partners:

Lithuania

116 691

19.8

111 612

17.4

105 196

15.9

Germany

67 224

11.4

85 894

13.4

95 463

14.4

Russia

66 166

11.2

69 098

10.8

51 344

7.7

Poland

44 954

7.6

44 434

6.9

50 983

7.7

Estonia

41 093

7.0

47 509

7.4

60 659

9.1

Finland

25 640

4.4

27 181

4.2

33 012

5.0

Sweden

23 295

4.0

22 697

3.5

25 383

3.8

Total foreign trade turnover at current prices in January – August 2008 was 2.3% or 181.2 mln lats more than in the corresponding period of previous year, and its value reached 7928.3 mln lats.

Foreign trade of Latvia in January - August 2008, at current prices

Exports

Imports

Total

EU countries, % of total of the group

Total

EU countries, % of total of the group

thsd lats

% of total

thsd lats

% of total

Total

2 945 342

100

74.3

4 982 993

100

76.0

Agricultural and food products (I-IV)

437 418

14.9

68.5

645 248

12.9

87.5

Live animals and animal products (I)

110 571

3.8

84.1

131 288

2.6

93.2

Vegetation products (II)

109 498

3.7

79.6

159 482

3.2

82.7

Fats and oils (III)

5 000

0.2

96.8

28 815

0.6

96.9

Prepared foodstuffs (IV)

212 349

7.2

54.0

325 663

6.5

86.6

Mineral products (V) 1)

114 145

3.9

57.2

761 438

15.3

48.5

Products of the chemical and allied industries (VI)

227 898

7.7

67.7

473 662

9.5

79.3

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

81 693

2.8

73.0

238 790

4.8

87.5

Raw hides, leather, furskins and articles thereof (VIII)

8 643

0.3

85.6

16 491

0.3

82.5

Wood and wood products (IX)

534 766

18.2

90.1

103 947

2.1

55.4

Pulp of wood; paper and paperboard (X)

50 724

1.7

79.2

120 256

2.4

86.4

Textiles and textile articles (XI)

163 497

5.6

69.1

200 908

4.0

83.4

Footwear, headgear, umbrellas and other articles (XII)

8 587

0.3

85.3

44 563

0.9

86.3

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

61 068

2.1

76.6

104 760

2.1

85.7

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

6 780

0.2

82.4

21 978

0.4

49.7

Base metals and articles of base metals (XV)

545 820

18.5

75.1

548 128

11.0

56.4

Machinery and mechanical appliances; electrical equipment (XVI)

348 020

11.8

66.0

901 765

18.1

85.1

Transport vehicles (XVII)

228 697

7.8

81.6

566 652

11.4

92.1

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

25 101

0.9

42.0

81 905

1.6

83.1

Arms and ammunition (XIX)

67

0.0

-

6 325

0.1

91.2

Miscellaneous manufactured articles; including furniture (XX)

100 841

3.4

70.3

145 808

2.9

79.3

Works of art, collectors pieces and antiques (XXI)

21

0.0

-

370

0.0

65.4

Other goods

1 557

0.1

61.4

-

-

-

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

More information on Latvia’s foreign trade by months and quarters by country groups and commodity groups can be obtained in the CSB data base section „Foreign trade”.

Prepared by the Foreign Trade Section
Tel. +371 67366604
Lilita Laganovska