Foreign trade of Latvia in January 2007

15.03.2007

The value of exports in January 2007 decreased by 6% or 17.0 mln lats compared to December 2006 but compared to January 2006 it increased by 18% or 40.4 mln lats reaching 265.0 mln lats.

The value of imports in January 2007 was by 8.1% or 49.0 mln lats lower than in December 2006 but compared to January 2006 it was by 44.3% or 170.7 mln lats higher and reached 556.1 mln lats.

The total foreign trade turnover in January 2007 was by 34.6% or 211.0 mln lats higher than in January of the previous year and its value reached 821.1 mln lats.

Latvia`s foreign trade, in millions of lats

Compared to January 2006, there was an increase of 3.5% in January 2007 in the export of the main export commodity of Latvia, wood and articles of wood (8.5% to Estonia, 5.0% to Denmark and 1.8% to Germany). The increases were 52.1% in the export of such relevant export commodities as base metals and articles of base metals (55.9% to Estonia, 54.7% to Germany and 45.6% to Lithuania), 12.5% for agricultural and food products (15.8% to Russia, 15.6% to Estonia and 13.6% to Lithuania) whereas a decrease of 11.7% was observed in the export of mineral products, especially to Lithuania – by 70.6%.

Compared to December 2006, the increases in exports were 29.8% for base metals and articles of base metals (37.6% to Germany, 19.1% to Estonia and 2.5% to Lithuania) and 7.1% for textiles and textile articles (26.4% to Lithuania and 8.3% to Sweden) but there was a decrease of 16.1%in the exports of wood and of articles of wood (especially to Great Britain – by 53.2% and Sweden – by 23.3%) and a decrease of 17.2% in the exports of agricultural and food products (especially to Russia – by 29.7%).

Exports by main commodity group

2006

January 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

3272530

100

74.9

265006

100

77.7

Agricultural and food products (I-IV)

434490

13.3

68.2

31877

12.0

70.7

prepared foodstuffs;

alcoholic and non-alcoholic beverages, tobacco (IV)

243811

7.5

55.1

17940

6.8

58.4

Mineral products (V)

182562

5.6

65.8

10508

4.0

64.2

Products of the chemical and allied industries (VI)

219502

6.7

65.2

16353

6.2

66.3

Wood and articles of wood (IX)

738357

22.6

89.0

57590

21.7

89.8

Textiles and textile articles (XI)

267360

8.2

72.6

23454

8.9

72.9

Base metals and articles of base metals (XV)

487436

14.9

78.7

42965

16.2

85.3

Machinery and mechanical appliances: electrical equipment (XVI)

320116

9.8

61.3

25640

9.7

62.8

Miscellaneous manufactured articles

including furniture (XX)

147630

4.5

76.9

12383

4.7

80.8

Other goods

475077

14.4

73.1

44236

16.6

77.3

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

Compared to January 2006, the steepest increase in imports in January 2007 was 78.2% for machinery and mechanical appliances: electrical equipment (70.9% from Lithuania, 23.6% from Germany and 6.9% from Finland). The import of such relevant commodities as mineral products rose by 17.7% (of which according to the most important partner countries the increases were 38.0% for motor petrol from Lithuania, 23.6% for diesel fuel from Russia and 73.1% for residual fuel oil from Belarus) and by 30.2% for agricultural and food products (57.6% from Denmark, 39.8% from Poland and 31.7% from Lithuania).

Compared to December 2006, the steepest increases in imports were 11.5% for textiles and textile articles (80.9% from Lithuania, 38.6% from Estonia and 23.8% from Denmark), 4.0% for base metals and articles of base metals (41.0% from Denmark and 29.3% from Estonia) while a decrease of 26.1% was observed in the imports of agricultural and food products (especially from Lithuania – by 37.1%).

Imports by main commodity group

February 2006

January 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

6298250

100

76.5

556055

100

75.0

Agricultural and food products (I-IV)

704105

11.2

87.3

58766

10.6

85.6

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

380140

6.0

85.6

32151

5.8

85.6

Mineral products (V) 1)

858557

13.6

39.0

68969

12.4

39.3

Products of the chemical and allied industries (VI)

527090

8.4

80.0

42836

7.7

80.4

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

319117

5.1

89.3

24830

4.5

90.1

Pulp of wood; paper, cardboard (X)

162682

2.6

84.9

15439

2.8

88.3

Textiles and textile articles (XI)

293645

4.7

84.8

24436

4.4

83.3

Base metals and articles of base metals (XV)

601607

9.6

60.1

54580

9.8

59.5

Machinery and mechanical appliances; electrical equipment (XVI)

1226228

19.5

87.2

131942

23.7

81.0

Transport vehicles (XVII)

849017

13.5

92.6

71261

12.8

91.4

Other goods

756202

12.0

73.9

62996

11.3

70.7

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

Main foreign trade partners of Latvia in January 2007, %

Exports

Imports

Main partners of Latvia’s foreign trade

Groups of countries,
countries

December 2006

January 2007

January 2007 as
% (+,-) of

thsd lats

ratio, %

thsd lats

ratio,%

December 2006

January 2006

Exports - total

282003

100

265006

100

-6.0

+18.0

EU – 27

204377

72.5

205897

77.7

+0.7

+21.8

EU – 25

203700

72.2

205517

77.6

+0.9

+21.4

EU – 15

112195

39.8

116845

44.1

+4.1

+9.6

Other countries:

CIS

46216

16.4

34882

13.2

-24.5

+26.1

other

31410

11.1

24227

9.1

-22.9

-13.1

Main export partners:

Lithuania

40578

14.4

38561

14.6

-5.0

+40.1

Estonia

41325

14.7

36647

13.8

-11.3

+40.4

Germany

23983

8.5

27675

10.4

+15.4

+10.7

Russia

26047

9.2

21577

8.1

-17.2

+15.9

Great Britain

29054

10.3

20183

7.6

-30.5

+5.3

Sweden

18558

6.6

16887

6.4

-9.0

-3.3

Denmark

12361

4.4

12538

4.7

+1.4

-9.8

Poland

5056

1.8

8387

3.2

+65.9

+53.7

Imports -total

605035

100

556055

100

-8.1

+44.3

EU – 27

463918

76.7

417227

75.0

-10.1

+46.5

EU – 25

462965

76.5

416656

74.9

-10.0

+46.5

EU –15

262702

43.4

240518

43.3

-8.4

+46.4

Other countries:

CIS

84640

14.0

77501

13.9

-8.4

+27.0

other

56477

9.3

61327

11.0

+8.6

+54.8

Main import partners:

Lithuania

80932

13.4

76874

13.8

-5.0

+54.7

Germany

84701

14.0

76253

13.7

-10.0

+41.7

Russia

52607

8.7

49943

9.0

-5.1

+31.0

Estonia

52145

8.6

42701

7.7

-18.1

+45.8

Poland

40665

6.7

38613

6.9

-5.0

+60.5

Finland

35191

5.8

31562

5.7

-10.3

+22.1

Sweden

29610

4.9

25697

4.6

-13.2

+30,8.

Spain

4994

0.8

19933

3.6

4 times

4 times


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