Foreign trade of Latvia in December 2007

11.02.2008

Compared to November 2007, the value of exports in current prices in December 2007 decreased by 10.8% or 39.8 mln lats, but in comparison with December 2006 it increased by 12.9 % or 37.4 mln lats, reaching 328.0 mln lats, according to Central Statistical Bureau data.

However, the value of imports in current prices in December 2007 was 8.4% or 54.3 mln lats lower compared to November 2007, but in comparison with December 2006 the decrease comprised 6.2% or 39.5 mln lats, reaching 593.0 mln lats.

The total foreign trade turnover in December 2007 was 0.2% or 2.1 mln lats lower than in the corresponding period of the previous year and its value was as high as 921.0 mln lats.

The value of exports in current prices in 2007 reached 4025.2 mln lats – more by 732.0 lats or 22.2% compared to 2006.

However, the value of imports in current prices in 2007 was more by 1342.5 lats or 21.0% compared to 2006 and reached 7721.0 mln lats.

Latvia’s foreign trade, in mln lats1 
 

________________
1) Data on January, May, June, July and September 2007 have been revised.

Latvia’s foreign trade in December 2007

Exports

Imports

Total

EU – 27,

% of total of the group

Total

EU – 27,

% of total of the group

thsd lats

% of total

thsd lats

% of total

Total

328012

100

74.7

593036

100

77.0

Agricultural and food products (I-IV)

56135

17.1

76.3

82394

13.9

89.0

Live animals and animal products (I)

12003

3.7

87.1

17475

2.9

93.9

Vegetable products (II)

13722

4.2

94.8

16838

2.8

82.7

Fats and oils (III)

701

0.2

95.9

4607

0.8

98.0

Prepared foodstuffs; (including alcoholic and non-alcoholic Beverages and tobacco) (IV)

29709

9.1

62.9

43474

7.3

88.5

Mineral products (V) 1)

15348

4.7

58.9

96568

16.3

50.7

Products of the chemical and allied
industries (VI)

27009

8.2

75.7

44176

7.4

75.8

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

8705

2.7

70.1

25844

4.4

87.3

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

1673

0.5

91.7

1694

0.3

82.5

Wood and articles of wood (IX)

61730

18.8

91.6

14116

2.4

46.7

Pulp of wood; paper and paperboard (X)

5180

1.6

79.2

15170

2.6

85.3

Textiles and textile articles (XI)

16332

5.0

66.4

20470

3.5

84.1

Footwear, headgear, umbrellas and other articles (XII)

288

0.1

87.2

2507

0.4

81.3

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

5467

1.7

73.4

12593

2.1

83.8

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

943

0.3

98.6

1863

0.3

52.4

Base metals and articles of base metals (XV)

55093

16.8

76.0

52651

8.9

54.8

Machinery and mechanical appliances; electrical equipment (XVI)

34199

10.4

51.1

113035

19.1

87.2

Transport vehicles (XVII)

25486

7.8

74.5

77501

13.1

93.1

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

2333

0.7

46.4

10139

1.7

83.3

Arms and ammunition (XIX)

-

-

-

581

0.1

87.3

Miscellaneous manufactured articles; including furniture (XX)

11934

3.6

75.1

21680

3.7

83.2

Works of art, collectors pieces and antiques (XXI)

30

0.0

96.7

54

0.0

42.6

Other goods

127

0.0

32.3

-

-

-

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

In December 2007, in comparison with December 2006 the value of the one of most important commodity in the exports of base metals and articles of base metals increased by 66.2%. Exports of products of the chemical and allied
industries increased by 48.3%, exports of agricultural and food products - by 38.8%, exports of plastics and articles thereof; rubber and articles thereof – by 5.0%, exports of pulp of wood; paper and paperboard – by 3.2%. But the exports of textiles and textile articles have decreased, by 27.1%, exports of wood and articles of wood – by 7.6%, exports of machinery and mechanical appliances; electrical equipment – by 6.2%, as well as exports of mineral products – by 3.8%.

In December 2007, in comparison with November 2007 the value of exports of raw hides, leather, furskins and articles thereof increased by 32.5%, of fats and oils – by 28.3%, of base metals and articles of base metals – by 12.3%. The exports of pulp of wood; paper and paperboard decreased by 30.1%, exports of textiles and textile articles – by 28.1%, exports of plastics and articles thereof; rubber and articles thereof – by 23.6%, exports of wood and articles of wood – by 21.0%, exports of mineral products – by 16.5%.

In December 2007, in comparison with December 2006 the value of the most important commodity in the imports increased: for fats and oils – by 48.2%, for live animals and animal products – by 31.1%, for mineral products – by 28.9%. But the imports of machinery and mechanical appliances; electrical equipment decreased by 21.2%, imports of wood and articles of wood – by 14.4%, imports of textiles and textile articles - by 10.7%, imports of transport vehicles – by 10.5%, imports of products of the chemical and allied industries – by 9.3%, imports of plastics and articles thereof – by 3.1%.

In December 2007, in comparison with November 2007 the value of imports of mineral products increased by 7.9% and of agriculture and food products – by 1.3%. Imports of textiles and textile articles decreased by 26.7%, of plastics and articles thereof; rubber and articles thereof – by 17.8%, of wood and articles of wood – by 16.9%, of transport vehicles - by 13.4%, of products of the chemical and allied industries – by 13.3%, of machinery and mechanical appliances; electrical equipment – by 11.4%.

Main partners of Latvia’s foreign trade

Groups of countries,

November 2007

December 2007

December 2007 value in % (+,-) against

countries

thsd lats

ratio, %

thsd lats

ratio, %

November 2007

December 2006

Exports - total

367836

100

328012

100

-10.8

+12.9

EU – 27 countries

278808

75.8

245074

74.7

-12.1

+15.1

  EU – 25 countries

277420

75.4

243149

74.1

-12.4

+14.5

    EU – 15 countries

146333

39.8

122851

37.5

-16.0

+8.3

CIS

52182

14.2

49855

15.2

-4.5

+7.9

other

36846

10.0

33083

10.1

-10.2

+5.3

Main export partners:

Lithuania

59614

16.2

55722

17.0

-6.5

+24.8

Estonia

51178

13.9

48728

14.9

-4.8

+10.2

Russia

34284

9.3

31653

9.7

-7.7

+21.5

Sweden

26623

7.2

26493

8.1

-0.5

+41.7

Germany

34486

9.4

23732

7.2

-31.2

-4.5

Imports - total

647280

100

593036

100

-8.4

-6.2

EU – 27 countries

490270

75.7

456624

77.0

-6.9

-7.1

  EU – 25 countries

488745

75.5

455509

76.8

-6.8

-7.1

    EU –15 countries

287826

44.5

257113

43.4

-10.7

-9.3

CIS

98470

15.2

86981

14.7

-11.7

+2.8

other

58540

9.0

49431

8.3

-15.6

-12.5

Main import partners:

Lithuania

82622

12.8

98573

16.6

+19.3

+18.9

Germany

93904

14.5

85346

14.4

-9.1

-9.1

Russia

65649

10.1

61926

10.4

-5.7

+17.7

Estonia

51241

7.9

41202

6.9

-19.6

-24.5

Poland

44593

6.9

39036

6.6

-12.5

-8.2

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