In foreign trade of Latvia exports of goods increases more rapidly than imports

15.08.2013

The provisional data of the Central Statistical Bureau show that in the first half of this year the volume of goods exported at current prices increased by LVL 233.9 mln or by 7.5%, while volume of imports – only by LVL 4.1 mln or by 0.1% as compared to the first half of previous year.  

It also affected foreign trade balance – exports share in total foreign trade volume reached 44.7%. For comparison, in the first six months of previous year it was 43.0%.

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

Data source: Central Statistical Bureau of Latvia

Excluding impact of price changes, in January - June of this year, compared to the first half of previous year, exports volume at constant prices rose by 3.8%, but imports volume decreased by 1.6%.

Changes of foreign trade of Latvia at current and constant prices by quarters, as percent of corresponding quarter of previous year

Data source: Central Statistical Bureau of Latvia

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 January -June 2013, at current prices

Exporters/importers by main kind of their economic activity

Exports

Imports

mln lats

as % of total volume

mln lats

as % of total volume

Total

3 373.0

100

4 168.7

100

Agriculture, forestry and fishing 

67.2

2.0

19.8

0.5

Mining and quarrying

31.4

0.9

8.2

0.2

Manufacturing

1 372.2

40.7

626.9

15.0

Electricity, gas, and steam supply

33.1

1.0

252.6

6.1

Water supply, sewerage, waste management and remediation activities

20.7

0.6

18.3

0.4

Construction

20.5

0.6

41.6

1.0

Wholesale and retail trade; repair of motor vehicles and motorcycles

1 264.7

37.5

2 396.7

57.5

Transport and storage

108.9

3.2

73.9

1.8

Other kinds of activity; without breakdown by sections

454.3

13.5

730.7

17.5

In January - June 2013 largest volume of goods – two fifths from the total of exports – were exported by manufacturing enterprises. Increase of exports of these enterprises, compared to the first half of previous year, comprised 14.6 mln lats or 1.1%.

But in imports more than a half of all goods were imported by enterprises whose main kind of activity is wholesale and retail trade. Compared to the first half of previous year, volume of goods imported by these enterprises rose by 34.7 mln lats or 1.5%.

Accordingly final consumption of goods statistical data on foreign trade grouped show that in the first six months of the year, compared to the first half of previous year, exports of such important component of the national accounts as capital goods has increased rapidly – by 37.1%, but imports has decreased by 13.3%. Share of these goods in exports comprised 11.1%, but in imports – 12.0%. 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) can be found in the CSB database ”Foreign trade” in section Short term statistical data.

 

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