Foreign trade of Latvia in January - June 2011

15.08.2011

The provisional data of the Central Statistical Bureau show that in January - June 2011 total volume of goods in foreign trade of Latvia at current prices reached LVL 6225.7 million – an increase of LVL 1 624.4 million or 35.3%, if compared to January – June 2010. Of which export volume increased by LVL 761.8 million or 36.9%, but volume of  import  – by LVL 862.6 million or 34.0%.

In January - June 2011 an improvement of foreign trade balance was observed, as the export share in total foreign trade volume increased up to 45.4% (in January – June 2010 – 44.9%).

Foreign trade of Latvia at current prices by quarters, million LVL1

1 Data on 3rd and 4th quarter of 2010, 1st quarter of 2011 have been revised.

Compared to January – June 2010, the volume of export at constant prices in January – June 2011 due to the influence of price changes grew by 18.9%, and the volume of import – by 24.7%.

Volume changes of foreign trade of Latvia; at current prices

Quarters of 2011

Export, % (+, -) over

Import, % (+, -) over

previous quarter

corresponding quarter of previous year

previous quarter

corresponding quarter of previous year

1st quarter

-6.3

+22.0

-7.5

+26.4

2nd quarter

+9.6

+16.6

+6.2

+23.1


Export and import of Latvia according to BEC2 classification, at current prices

Goods

Export

Import

  January – June 2010

  January – June 2011

  January – June 2010

  January – June 2011

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

2 064.6

100

2 826.4

100

2 536.7

100

3 399.3

100

Capital goods

174.1

8.4

209.6

7.4

244.8

9.6

368.7

10.9

 Intermediate goods

1238.4

60.0

1 655.5

58.6

1 253.8

49.4

1652.7

48.6

Consumer goods

530.9

25.7

655.1

23.2

772.7

30.5

782.4

23.0

Other goods; not broken down by categories

55.9

2.7

211.9

7.5

155.0

6.1

421.8

12.4

Passenger cars 3

61.2

3.0

93.2

3.3

62.8

2.5

112.6

3.3

Automotive fuel 3

4.1

0.2

1.1

0.0

47.6

1.9

61.1

1.8

2 Classification by Broad Economic Categories.
3 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 Latvia’s foreign trade according to enterprise main kind of economic activity by NACE Rev. 2 classification in January – June 2011, at current prices

Exporters/importers by main kind of their economic activity

Export

Import

Foreign trade balance, mln LVL (+,-)

mln LVL

as % of total volume

mln LVL

as % of total volume

Total

2 826.4

100

3399.3

100

-572.9

Agriculture, forestry and fishing 

65.9

2.3

27.9

0.8

+38.0

Mining and quarrying

24.5

0.9

5.9

0.2

+18.6

Manufacturing

1 178.2

41.7

605.0

17.8

+573.3

 

of which:

 

 

 

 

 

 

manufacture of food products, beverages and tobacco

142.1

5.0

110.1

3.2

+32.0

 

manufacture of textiles, apparel

75.4

2.7

51.2

1.5

+24.2

 

manufacture of wood and paper products; printing

360.1

12.7

68.9

2.0

+291.2

 

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

101.9

3.6

51.2

1.5

+50.7

 

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

86.5

3.1

51.3

1.5

+35.2

 

manufacture of basic metals and fabricated metal products

223.9

7.9

154.5

4.5

+69.5

 

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

67.5

2.4

37.4

1.1

+30.1

 

manufacture of transport equipment

37.2

1.3

24.5

0.7

+12.7

 

 manufacture of furniture

30.0

1.1

11.3

0.3

+18.7

 

other manufacturing sectors

53.7

1.9

44.7

1.3

+9.0

Electricity, gas, steam and air conditioning supply

44.9

1.6

185.0

5.4

-140.2

Water supply, sewerage, waste management and remediation activities

20.2

0.7

4.7

0.1

+15.5

Construction

17.5

0.6

29.0

0.9

-11.5

Wholesale and retail trade; repair of motor vehicles and motorcycles

1 068.1

37.8

1892.9

55.7

-824.7

Transport and storage

96.2

3.4

70.6

2.1

+25.6

Other sections; without breakdown by sections

311.0

11.0

578.4

17.0

-267.4

 

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