Foreign trade of Latvia in February 2013

09.04.2013

 Provisional data of the Central Statistical Bureau show that in February 2013, compared to January of this year, exports value of goods at current prices increased by 1.9%, but imports value of goods – reduced by 1.6%. In February foreign trade balance improved as exports in total foreign trade value increased to 45.5% (in January of this year – 44.7%), see picture:

Foreign trade of Latvia, mln. lats[1]

Main changes in exports in February, compared to January of this year:

  • growth of exports of machinery and mechanical appliances; electrical equipment comprised 10.3 mln lats or 13.7%,
  • exports of vegetable products increased by 7.7 mln lats or 25.6%,
  • increase of exports of food products comprised 4.1 mln lats or 10.0%.

Main changes in imports in February, compared to January of this year:

  • imports of products of the chemical and allied industries grew by 7.7 mln lats or 12.8%,
  • imports of footwear and haberdashery rose by 3.5 mln lats or 84.4%,
  • imports of mineral products dropped by 17.5 mln lats or 12.8%.

Exports of basic metals and articles of basic metals in February, compared to January,dropped by 9.3 mln lats or 11.7% - to Algeria by 4.1 mln lats or 27.8% and to Turkey - by 3.6 mln lats or 38.0%. In its turn, imports reduced by 7.7 mln lats or 10.5% - from Russia by 3.2 mln lats or 14.3%, from Netherlands by 1.3 mln lats or 58.2%, from Finland by 1.2 mln lats or 60.2%.

In February the most significant share in Latvia’s exports – 71.0% had exports to the countries of European Union, followed by the exports to CIS countries with 13.7%. Main exports partners were Lithuania (15.7% of total exports), Estonia (13.7%), Russia (9.8%), Germany (8.9%) and Poland (5.8%).

In its turn the most significant share in Latvia’s imports – 74.4% had imports from the countries of European Union, followed by the imports from CIS countries with 17.7%. Main imports partners were Lithuania (17.2% of total imports), Russia (12.1%), Germany (10.8%), Poland (9.5%) and Estonia (7.4%).

Changes of main commodities in Latvia’s exports in February 2013, at current prices

 

thsd lats

% of

total

% (+, -) over

 February 2012

 January 2013

average of previous 12 months

Total

538 642

100

+9.6

+1.9

-7.4

wood and articles of wood; wood charcoal

88 132

16.4

+16.7

-1.0

+2.1

electrical machinery and equipment

57 326

10.6

+48.2

+11.9

+15.7

iron and steel

40 849

7.6

-18.1

-18.1

-15.6

mineral fuels, mineral oils and products of their distillation

39 633

7.4

-9.4

-10.2

-16.5

machinery and mechanical appliances

28 354

5.3

+7.1

+17.7

-8.3

cereals

24 175

4.5

+58.0

+35.1

+1.9

beverages, spirits and vinegar

20 788

3.9

+14.5

+25.8

-23.4

vehicles other than railway or tramway rolling stock, and parts and accessories thereof

18 613

3.5

-24.1

+12.2

-29.3

articles of iron or steel

16 785

3.1

-1.5

-1.4

-9.1

Rapid growth of exports of cereals in February 2013, compared to February of previous year, was mostly impacted by the increase of exports of wheat and meslin, and brans – by 9.8 mln lats or 72.4%. In its turn, exports of vehicles other than railway or tramway rolling stock, and parts and accessories thereofdecreased as exports of cars and other mechanical vehicles dropped by 8.0 mln lats or 71.7%.

Changes of main commodities in Latvia’s imports in February 2013, at current prices

 

thsd lats

% of

total

% (+, -) over

 February 2012

 January 2013

average of previous 12 months

Total

644 712

100

-0.6

-1.6

-12.1

mineral fuels, mineral oils and products of their distillation

115 598

17.9

-14.1

-13.2

-9.1

electrical machinery and equipment

60 050

9.3

+29.8

+2.4

-2.3

machinery and mechanical appliances

49 763

7.7

-14.9

-1.5

-29.8

iron and steel

36 545

5.7

-20.4

-20.8

-12.0

vehicles other than railway or tramway rolling stock, and parts and accessories thereof

33 076

5.1

-22.9

+4.2

-35.3

pharmaceutical products

30 321

4.7

+56.1

+26.2

+23.5

plastics and articles thereof

24 246

3.8

+13.9

-0.8

-10.6

In February, compared to February of previous year, imports of pharmaceutical products rose as imports of medical products increased by 6.8 mln lats or 42.4%. But drop of imports of cars and other mechanical vehicles by 13.1 mln lats or 68.1% significantly impacted total imports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof.

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” Short term statistical data.

 

Prepared by Foreign Trade Statistics Methodology, Analysis and Dissemination Section
Lilita Laganovska
tel.67366604



[1]Data on July, August and November 2012 have been revised.