In foreign trade of Latvia exports of goods, as compared to imports of goods, increases

16.05.2014

In the first quarter of this year Latvia exported goods in amount of 2.4 billion euros, but imported – in amount of 2.9 billion euros. The provisional data of the Central Statistical Bureau show that in the first quarter of this year the volume of goods exported at current prices increased by EUR 53.3 mln or by 2.3%, but at the same time volume of imports reduced by EUR 77.0 mln or by 2.6% as compared to the first quarter of previous year.

In the result foreign trade balance has improved slightly – share of exports in total foreign trade value has reached 44.9%. For comparison, in the first quarter of 2013 it was 43.7%.

Foreign trade of Latvia at current prices by quarters, mln euros

Excluding impact of price changes, in the first quarter of this year exports volume at constant prices grew by 3.6%, but imports volume reduced by 2.2%.

Changes of exports at current and constant prices by quarters

Changes of imports at current and constant prices by quarters

Grouping exporters and importers of goods by their main economic activity, information on how many goods are imported or exported by enterprises belonging to certain sector can be obtained:

Structure of foreign trade of Latvia according to the kind of economic activity of enterprises by NACE Rev. 2 classification in the 1st quarter of 2014, at current prices

 

Exporters/importers by main kind of their economic activity

Exports

Imports

mln euros

as % of total value

mln euros

as % of total value

Total

2 390.9

100

2 939.7

100

Agriculture, forestry and fishing 

41.8

1.7

19.2

0.7

Mining and quarrying

23.7

1.0

5.7

0.2

Manufacturing

889.0

37.2

398.9

13.6

Electricity, gas, and steam supply

2.3

0.1

138.0

4.7

Water supply, sewerage, waste management and remediation activities

8.8

0.4

4.6

0.2

Construction

22.7

0.9

34.8

1.2

Wholesale and retail trade; repair of motor vehicles and motorcycles

917.0

38.4

1 685.1

57.3

Transport and storage

80.6

3.4

48.1

1.6

Other kinds of activity; without breakdown by sections

405.1

16.9

605.3

20.6

In the 1st quarter of 2014 the largest amount of goods – almost two fifths of the total value of exports – was exported by enterprises whose main activity is wholesale and retail trade. Compared to the first quarter of the previous year exports of these enterprises reduced by 8.7 mln euros or 0.9%. At the same time exports of manufacturing enterprises decreased by 91.4 mln euros or 9.3%. Exports of transportation and storage sector enterprises rose significantly – by 14.4 mln euros or 21.8%, as well as of construction sector enterprises – by 4.1 mln euros or 22.2%.

Also in imports the largest amount of goods – almost three fifths of the total value of imports was imported by enterprises whose main activity is wholesale and retail trade.However, compared to the first quarter of 2013, amount of goods imported by these enterprises shrank by 53.2 mln euros or 3.1%.

Accordingly final consumption of goods statistical data on foreign trade grouped show that in the first three months of the year, compared to the first quarter of previous year, exports of capital goods has increased slightly – by 0.6%, but imports, however, has decreased by 12.9%. Share of these goods in exports comprised 10.7%, but in imports – 11.4%. Capital goods consist of fixed assets, raw materials and other materials foreseen for the further processing.

More information on Latvia’s foreign trade by quarters by kind of activity of enterprises (NACE Rev. 2) and by classification of Broad Economic Categories, Rev. 4 (BEC) is available in CSB database "Foreign trade" section Short term statistics

More information:
Foreign trade statistics methodology, analysis and dissemination section
Lilita Laganovska
Tel.: +371 67366604