Foreign trade of Latvia in June 2008

11.08.2008

Total foreign trade turnover at current prices in June 2008 reached 966.1 mln lats – less by 2.6 mln lats or 0.3% than a month before and less by 41.5 mln lats or 4.1% than in June last year, according to Central Statistical Bureau data.

Latvia’s foreign trade, in mln lats1

1) Data on March 2008 have been revised.

Main commodities in Latvia’s exports in June 2008, at current prices

Total

% (+, -) over

EU countries, % of total of the group

thsd lats

% of total

May 2008

June 2007

Exports - total

356 536

100

-3.6

+3.1

71.4

Agricultural and food products (I-IV)

49 551

13.9

-9.8

+14.7

66.0

of which - prepared foodstuffs (IV)

24 462

6.9

-7.6

-6.6

50.5

Products of the chemical and allied industries (VI)

28 231

7.9

+8.9

+2.0

65.1

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

9 996

2.8

+3.5

+0.9

69.8

Wood and wood products (IX)

58 585

16.4

-8.1

-27.1

88.6

Textiles and textile articles (XI)

18 460

5.2

-3.3

-21.5

69.5

Base metals and articles of base metals (XV)

79 486

22.3

-4.1

+61.3

71.5

Machinery and mechanical appliances; electrical equipment (XVI)

39 108

11.0

+3.2

-2.1

57.6

Transport vehicles (XVII)

27 629

7.7

-10.6

+3.7

83.3

Miscellaneous manufactured articles; including furniture (XX)

10 674

3.0

+2.4

-25.4

68.2

Other goods

34 816

9.8

+1.7

+12.8

63.1

In June 2008 compared to previous month most rapid decrease at current prices was in exports of vodka – by55.8%, of wood in the rough – by 23.6%, of iron and non-alloy steel – by 22.0%, of chocolate and other food preparations containing cocoa – by 17.4% and of articles of apparel, not knitted or crocheted – by 11.3%, but exports of paper and paperboard, articles of paper increased by 44.1%, of pharmaceutical products – by 31.2%, of cheese and curd - by 29.0%, of machinery and mechanical appliances - by 14.6%.

Compared to June 2007 the largest exports increase was on wheat and meslin (exports to Lithuania, Oman, Denmark and Poland) – almost 13 times (increase from 187 thsd lats to 2414 thsd lats), on fish, fresh, chilled or frozen – by 85.7%, on iron and non-alloy steel – by 43.5%, on articles of iron or steel – by33.8%, on pharmaceutical products – by 12.1%, but the exports of sawn wood decreased by 52.3%, of furniture, including mattress and articles of bedding and similar furnishing – by 33.0%, of chocolate and other food preparations containing cocoa – by 24.3%, of veneer sheets and plywood – by 17.8%.

Main commodities in Latvia’s imports in June 2008, at current prices

Total

% (+, -) over

EU countries, % of total of the group

thsd lats

% of total

May 2008

June 2007

Imports - total

609 611

100

+1.8

-7.9

74.7

Agricultural and food products (I-IV)

80 180

13.2

+5.8

+7.3

87.7

of which - prepared foodstuffs (IV)

41 513

6.8

+8.5

-0.6

87.0

Mineral products (V) 1)

103 649

17.0

+7.1

+37.0

53.2

Products of the chemical and allied industries (VI)

47 878

7.9

-11.1

-6.7

83.4

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

29 607

4.9

-2.8

-8.5

88.6

Wood and wood products (IX)

11 119

1.8

-4.5

-56.5

57.4

Textiles and textile articles (XI)

20 816

3.4

-10.7

-16.0

84.4

Base metals and articles of base metals (XV)

86 666

14.2

+28.6

+31.0

47.9

Machinery and mechanical appliances; electrical equipment (XVI)

97 946

16.1

-5.4

-24.6

85.6

Transport vehicles (XVII)

67 737

11.1

-10.7

-37.4

90.7

Miscellaneous manufactured articles; including furniture (XX)

16 933

2.8

+2.4

-25.0

78.7

Other goods

47 080

7.7

+7.0

-6.9

83.9

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

In June 2008 compared to previous month most rapid increase at current prices was in imports of electricity – by 54.7%, of iron and non-alloy steel – by 48.4%, meat of swine, fresh, chilled or frozen (excluding offal) – by 36.6%, of cigarettes – by 30.7%, but imports of agglomerated cork (with or without a binding substance) and articles thereof decreased by 35.9%, of particle boards – by 28.0%, of pharmaceutical products – by 17.2%, of plastics, primary forms – by 13.5%, of electrical appliances and equipment – by 5.6%, of coniferous sawn-wood – by 4.4%.

Compared to June 2007 the most notable decrease had imports of sawn wood – by 76.0%, of passenger cars – by 49.7%, of furniture, including mattress and articles of bedding and similar furnishing – by 37.9%, of machinery and mechanical appliances – by 29.8%, of articles of apparel, not knitted or crocheted - by 19.8%, but imports of meat of swine, fresh, chilled or frozen (excluding offal) increased by 73.1%, of iron and non-alloy steel – by 42.8%, of residual fuel oils – by 36.8%, of diesel oil – by 27.2% and of electricity – by 13.9%.

Main partners of Latvia’s foreign trade (at current prices)

Groups of countries, countries

June 2008

May 2008

June 2007

thsd lats

% of total

thsd lats

% of total

thsd lats

% of total

Exports - total

356 536

100

369 701

100

345 753

100

EU countries,

254 401

71.4

273 111

73.9

255 747

74.0

CIS

55 419

15.5

53 800

14.6

59 172

17.1

Other countries

46 716

13.1

42 790

11.6

30 834

8.9

Main exports partners:

Lithuania

61 188

17.2

61 787

16.7

49 883

14.4

Estonia

46 107

12.9

49 839

13.5

52 317

15.1

Russia

37 453

10.5

37 486

10.1

42 378

12.3

Germany

26 950

7.6

32 910

8.9

28 822

8.3

Sweden

23 120

6.5

24 199

6.5

25 329

7.3

Denmark

17 677

5.0

15 825

4.3

14 395

4.2

Poland

12 664

3.6

11 644

3.1

11 706

3.4

Imports - total

609 611

100

599 042

100

661 938

100

EU countries,

EU countries,

455 182

74.7

456 052

76.1

525 923

79.5

CIS

CIS

107 813

17.7

93 149

15.5

76 535

11.6

Other

Other countries

46 616

7.6

49 841

8.3

59 480

9.0

Main imports partners:

Lithuania

104 235

17.1

96 787

16.2

96 189

14.5

Germany

83 112

13.6

82 597

13.8

102 113

15.4

Russia

63 274

10.4

60 559

10.1

43 051

6.5

Poland

42 021

6.9

39 996

6.7

45 908

6.9

Estonia

40 431

6.6

43 076

7.2

58 570

8.8

Sweden

25 262

4.1

27 305

4.6

33 491

5.1

Finland

25 259

4.1

28 219

4.7

32 952

5.0

Total foreign trade turnover at current prices in January – June 2008 was 5.4% or 305.7 mln lats more than in the corresponding period of previous year, and its value reached 5973.1 mln lats.

Foreign trade of Latvia in January - June 2008, at current prices


Exports

Imports

Total

EU countries, % of total of the group

Total

EU countries, % of total of the group

thsd lats

% of total

thsd lats

% of total

Total

2 216 243

100

74.8

3 756 886

100

76.3

Agricultural and food products (I-IV)

328 523

14.8

70.3

486 382

12.9

87.0

Live animals and animal products (I)

81 347

3.7

84.5

100 265

2.7

93.2

Vegetation products (II)

82 083

3.7

85.5

125 428

3.3

80.7

Fats and oils (III)

4 302

0.2

96.9

19 564

0.5

96.9

Prepared foodstuffs (IV)

160 791

7.3

54.7

241 125

6.4

86.8

Mineral products (V) 1)

89 933

4.1

57.7

540 264

14.4

47.7

Products of the chemical and allied industries (VI)

171 060

7.7

66.8

357 500

9.5

79.7

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

59 575

2.7

72.7

179 564

4.8

87.2

Raw hides, leather, furskins and articles thereof (VIII)

7 447

0.3

85.7

12 498

0.3

81.1

Wood and wood products (IX)

412 633

18.6

90.4

82 754

2.2

54.5

Pulp of wood; paper and paperboard (X)

38 036

1.7

79.7

90 083

2.4

86.1

Textiles and textile articles (XI)

126 037

5.7

68.4

158 134

4.2

84.0

Footwear, headgear, umbrellas and other articles (XII)

6 608

0.3

83.6

33 666

0.9

85.7

Articles of stone, plaster, cement, glassware and ceramic products (XIII)

46 106

2.1

78.3

77 672

2.1

86.1

Precious, semiprecious stone, precious metals, metals clad with precious metal, articles thereof (XIV)

5 432

0.2

84.1

16 846

0.4

49.8

Base metals and articles of base metals (XV)

393 526

17.8

75.2

399 613

10.6

55.4

Machinery and mechanical appliances; electrical equipment (XVI)

258 839

11.7

66.3

684 577

18.2

85.3

Transport vehicles (XVII)

176 032

7.9

82.8

460 589

12.3

92.5

Optical instruments and apparatus (inc. medical); clocks and watches; musical instruments (XVIII)

19 741

0.9

37.8

61 731

1.6

83.6

Arms and ammunition (XIX)

45

0.0

-

3 455

0.1

87.8

Miscellaneous manufactured articles; including furniture (XX)

75 291

3.4

71.6

111 275

3.0

79.3

Works of art, collectors pieces and antiques (XXI)

21

0.0

-

283

0.0

71.4

Other goods

1 359

0.1

66.7

-

-

-


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

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” monthly/quarterly, annual data

Prepared by the Foreign Trade Section
Tel.67366604
Lilita Laganovska