Foreign trade of Latvia in February 2007

13.04.2007

The value of exports in February 2007 increased by 4.7% or 12.5 mln lats compared to January 2007 but compared to February 2006 it increased by 19.3% or 44.9 mln lats reaching 277.5 mln lats.

The value of imports in February 2007 was by 0.04% or 203.0 thsd lats higher than in January 2007 but compared to February 2006 it was by 29.4% or 126.3 mln lats higher and reached 556.3 mln lats.

The total foreign trade turnover in February 2007 was by 25.8% or 171.2 mln lats higher than in February of the previous year and its value reached 833.8 mln lats.

Latvia`s foreign trade, in millions of lats

Compared to February 2006, there was an increase of 11.4% in February 2007 in the export of the main export commodity of Latvia, wood and articles of wood (53.7% to Lithuania, 14.5% to Denmark and 8.3% to Sweden). The increases were 50.5% in the export of such relevant export commodities as base metals and articles of base metals (66.5% to Estonia, 37.9% to Lithuania and 27.8% to Great Britain), 13.2% for textiles and textile articles (35.4% to Lithuania, 22.4% to Estonia and 12.3% to Russia) whereas a decrease of 18.2% was observed in the export of mineral products, especially to Lithuania – by 63.6%.

Compared to January 2007, the increases in exports were 8.5% for base metals and articles of base metals (51.2% to Denmark, 34.3% to Poland and 8.2% to Lithuania) as well as 34.7% for the products of the chemical and allied industries (73.4% to Poland, 39.9% to Russia and 32.0% to Estonia) and 8.6% for mineral products (16.6% to Lithuania and 12.1% to Germany) but there was a decrease of 9.5%in the exports of miscellaneous manufactured articles (including furniture), especially to Russia – by 29.3% and Germany – by 27.5%.

Exports by main commodity group

February 2006

February 2007

Total

EU – 27,
% of total of the group

Total

EU – 27,
% of total of the group

thsd lats

% of total

thsd lats

% of total

Exports -total

232614

100

76.8

277516

100

75.6

Agricultural and food products (I-IV)

32159

13.8

66.2

32426

11.7

63.1

prepared foodstuffs;

alcoholic and non-alcoholic beverages, tobacco (IV)

17857

7.7

50.4

18788

6.8

51.8

Mineral products (V)

13963

6.0

58.7

11415

4.1

66.2

Products of the chemical and allied industries (VI)

15817

6.8

62.2

22026

7.9

65.0

Wood and articles of wood (IX)

54376

23.4

87.7

60550

21.8

89.2

Textiles and textile articles (XI)

21554

9.3

76.0

24397

8.8

71.2

Base metals and articles of base metals (XV)

30968

13.3

85.7

46599

16.8

86.3

Machinery and mechanical appliances: electrical equipment (XVI)

18819

8.1

70.3

27420

9.9

58.0

Miscellaneous manufactured articles

including furniture (XX)

11504

4.9

80.9

11212

4.0

80.7

Other goods

33454

14.4

78.3

41472

14.9

74.6

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

Compared to February 2006, the steepest increase in imports in February 2007 was 59.7% for machinery and mechanical appliances: electrical equipment (by 59.2% from Germany, 57.4% from Lithuania and 45.2% from Sweden). The import of such relevant commodities as transport vehicles rose by 59.2% (by 82.7% from Estonia, 56.1% from Finland and 43.7% from Germany) and by 37.1% for base metals and articles of base metals (by 41.4% from Germany, 36.7% from Russia and 15.3% from Estonia); in contrast, there was a decrease of 8.5% in the imports of mineral products (especially from Belarus – by 45.3%).

Compared to January 2007, the steepest increases in imports were 19.2% for the products of the chemical and allied industries (35.1% from Germany and 7.6% from Russia), 10.1% for transport vehicles (20.4% from Finland and 3.5% from Germany) while a decrease of 13.5% was observed in the imports of machinery and mechanical appliances: electrical equipment (especially from Lithuania – by 16.7%) and 11.3% for pulp of wood (especially from Poland – by 33.0%).

Imports by main commodity group

February 2006

February 2007

Total

EU – 27,
% of total of the group

Total

EU – 27,
% of total of the group

thsd
lats

% of total

thsd lats

% of total

Imports – total

429957

100

73.8

556258

100

75.1

Agricultural and food products (I-IV)

48154

11.2

85.6

58770

10.6

86.8

prepared foodstuffs; alcoholic and non-alcoholic beverages; tobacco (IV)

23717

5.5

84.1

34030

6.1

85.7

Mineral products (V) 1)

71273

16.6

34.8

65207

11.7

31.6

Products of the chemical and allied industries (VI)

41284

9.6

77.0

51069

9.2

77.1

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

22406

5.2

88.0

27080

4.9

89.5

Pulp of wood; paper, cardboard (X)

12316

2.9

84.0

13695

2.5

86.3

Textiles and textile articles (XI)

22709

5.3

83.8

26433

4.8

84.8

Base metals and articles of base metals (XV)

38792

9.0

60.7

53189

9.6

60.4

Machinery and mechanical appliances; electrical equipment (XVI)

71494

16.6

87.8

114141

20.5

84.2

Transport vehicles (XVII)

49286

11.5

92.6

78439

14.1

92.2

Pārējās preces

52243

12.2

73.7

68235

12.3

70.3

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

Main foreign trade partners of Latvia in February 2007, %

Exports

Imports

Main partners of Latvia’s foreign trade

Groups of countries,
countries

January 2007

February 2007

February 2007 as
% (+,-) of

thsd lats

ratio, %

thsd lats

ratio, %

January 2007

February 2006

Exports - total

265006

100

277516

100

+4.7

+19.3

EU – 27

205897

77.7

209808

75.6

+1.9

+17.4

EU – 25

205517

77.6

209545

75.5

+2.0

+17.4

EU – 15

116845

44.1

118284

42.6

+1.2

+8.7

Other countries:

CIS

34882

13.2

40204

14.5

+15.3

+35.7

other

24227

9.1

27504

9.9

+13.5

+13.0

Main export partners:

Lithuania

38561

14.6

41384

14.9

+7.3

+24.1

Estonia

36647

13.8

35716

12.9

-2.5

+32.2

Russia

21577

8.1

25237

9.1

+17.0

+32.7

Germany

27675

10.4

22478

8.1

-18.8

-5.2

Great Britain

20183

7.6

21821

7.9

+8.1

+11.0

Sweden

16887

6.4

20384

7.3

+20.7

+22.0

Denmark

12538

4.7

11774

4.2

-6.1

-8.0

Finland

6935

2.6

11146

4.0

+60.7

+75.2

Imports -total

556055

100

556258

100

+0.04

+29.4

EU – 27

417227

75.0

417999

75.1

+0.2

+31.7

EU – 25

416656

74.9

416460

74.9

-0.05

+31.5

EU –15

240518

43.3

252771

45.4

+5.1

+36.6

Other countries:

CIS

77501

13.9

82710

14.9

+6.7

+15.6

other

61327

11.0

55549

10.0

-9.4

+35.5

Main import partners:

Germany

76253

13.7

94823

17.0

+24.4

+56.5

Lithuania

76874

13.8

64388

11.6

-16.2

+15.1

Russia

49943

9.0

58844

10.6

+17.8

+37.9

Estonia

42701

7.7

42716

7.7

+0.04

+44.4

Poland

38613

6.9

37481

6.7

-2.9

+29.1

Finland

31562

5.7

32427

5.8

+2.7

+40.0

Sweden

25697

4.6

27660

5.0

+7.6

+25.6

Italy

13986

2.5

18064

3.2

+29.2

+19.0

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