Foreign trade of Latvia in January-June 2010

13.08.2010

The provisional data of the Central Statistical Bureau show that in January - June 2010 total volume of goods in foreign trade of Latvia at current prices reached LVL 4562.0 mln – an increase of LVL 576.2 mln or 14.5%, if compared to January – June 2009. Of which volume of export grew by LVL 383.9 mln or by 22.9%, but volume of import – by LVL 192.3 mln or by 8.3%.

As the export share in total foreign trade volume increased up to 45.1% (in January – June 2009 – 42.0%) in January – June 2010 improvement of foreign trade balance was observed.

Latvia’s foreign trade at current prices by quarters, mln LVL1

1 Data on 2nd, 3rd and 4th quarters of 2009 and 1st quarter of 2010 have been revised.

In the result of commodity price changes the export volume (at constant prices), if compared to 2008, in January – June 2010 grew by 18.2%, but import volume at the same time increased by 7.4 %.

Volume changes of foreign trade of Latvia; at constant prices2

Quarters of 2010

Export, % (+, -) over

Import, % (+, -) over

previous quarter

corresponding quarter of previous year

previous quarter

corresponding quarter of previous year

1st quarter

-9.7

+15.5

-6.4

+0.3

2nd quarter

+13.1

+20.3

+9.6

+14.9

2 Data on 1st quarter of 2010 have been revised.

Export and import of Latvia according to BEC3 classification, at current prices

Goods

Export

Import

 

January – June 2009

January – June 2010

January – June 2009

January – June 2010

 

mln LVL

as % of total volume

mln LVL

as % of total volume

mln LVL

as % of total volume

mln LVL

as % of total volume

Total

1 674.0

100

2 057.9

100

2 311.8

100

2 504.1

100

Capital goods

176.4

10.5

164.8

8.0

261.1

11.3

214.9

8.6

Goods of intermediate consumption

940.1

56.2

1 163.2

56.5

1067.5

46.2

1 177.9

47.0

Consumer goods

437.4

26.1

501.0

24.4

718.8

31.1

703.6

28.1

Other goods

58.7

3.5

167.5

8.1

161.2

7.0

304.3

12.2

Passenger cars4

52.8

3.2

57.4

2.8

53.4

2.3

55.7

2.2

Automotive fuel 4

8.6

0.5

4.0

0.2

49.8

2.2

47.7

1.9

3 Broad Economic Categories classification.
4 Those commodities are included in several categories of BEC.

According to BEC classification, exported and imported goods can be grouped in categories by possible kind of their utilisation. Capital goods consist of fixed assets, goods of intermediate consumption and other materials envisaged for the further processing. Goods envisaged for the needs of population are considered to be consumer goods. Other goods not included in the mentioned categories (e.g., army equipment etc. specific goods) are included in the category “other goods”.

Structure of foreign trade of Latvia according to economic activity of enterprises5 in January – June 2010; at current prices

Exporters/importers by main kind of their economic activity

 

Export

Import

Foreign trade balance, mln lats (+,-)

mln LVL

as % of total volume

mln LVL

as % of total volume

Total

2 057.9

100

2 504.1

100

-446.3

Agriculture, forestry and fishing 

56.0

2.7

16.3

0.7

+39.7

Manufacturing

878.5

42.7

418.7

16.7

+459.8

 

of which:

 

 

 

 

 

 

manufacture of food products, beverages and tobacco

110.0

5.3

94.3

3.8

+15.6

 

manufacture of textiles, apparel

55.0

2.7

33.1

1.3

+21.9

 

manufacture of wood and paper products; printing

288.9

14.0

55.9

2.2

+233.0

 

 manufacture of chemicals and chemical products; manufacture of pharmaceuticals, medical chemical and botanical products

73.4

3.6

31.9

1.3

+41.6

 

 manufacture of rubber and plastics products, and other non-metallic mineral products

55.7

2.7

30.5

1.2

+25.2

 

manufacture of basic metals and fabricated metal products

146.4

7.1

80.4

3.2

+66.0

 

 manufacture of computer, electronic and optical products; manufacture of electrical equipment

52.7

2.6

30.2

1.2

+22.5

 

manufacture of transport equipment

29.2

1.4

20.7

0.8

+8.5

 

 manufacture of furniture

26.6

1.3

9.7

0.4

+16.9

 

other manufacturing sectors

40.5

2.0

32.0

1.3

+8.5

Electricity, gas, steam and air conditioning supply

26.9

1.3

141.6

5.7

-114.7

Construction

18.0

0.9

26.6

1.1

-8.5

Wholesale and retail trade; repair of motor vehicles and motorcycles

710.3

34.5

1 395.3

55.7

-684.9

Transport and storage

53.6

2.6

28.2

1.1

+25.5

Other sections; without breakdown by sections

314.5

15.3

477.5

19.1

-163.0

5 According to NACE Rev. 2 classification.

 

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