Foreign trade of Latvia in May 2008

10.07.2008

Total foreign trade turnover in current prices in May 2008 reached 968.7 mln lats – less by 123.2 mln lats or 11.3% than a month before and less by 56.2 mln lats or 5.5% compared to May last year, according to Central Statistical Bureau data.

Latvia’s foreign trade, in mln lats1

1) Data on May, June, July, September, October, December 2007 and February 2008 have been revised.

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

Total

% (+, -) over

EU countries, % of total of the group

thsd lats

% of total

April 2008

May 2007

Exports - total

369 701

100

-8.3

+6.2

73.9

Agricultural and food products (I-IV)

54 953

14.9

-4.1

+23.3

72.2

of which - prepared foodstuffs (IV)

26 484

7.2

-10.8

+2.7

55.4

Products of the chemical and allied industries (VI)

25 912

7,0

-9.7

+9.7

64.6

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

9 660

2.6

-14.5

+0.9

74.5

Wood and wood products (IX)

63 716

17.2

-11.1

-21.8

89.9

Textiles and textile articles (XI)

19 089

5.2

-16.5

-15.5

69.1

Base metals and articles of base metals (XV)

82 912

22.4

+11.0

+35.2

73.7

Machinery and mechanical appliances; electrical equipment (XVI)

37 900

10.3

-20.8

+4.0

63.9

Transport vehicles (XVII)

30 916

8.4

-5.2

+35.8

83.7

Miscellaneous manufactured articles; including furniture (XX)

10 421

2.8

-20.4

-15.8

66.6

Other goods

34 222

9.3

-20.9

+2.3

61.0

Compared to previous month, in May 2008 the most rapid decrease at current prices was observed in the exports of paper and paper board, articles of paper – by 60.7%, of furniture, including mattress and articles of bedding and similar furnishing – by 29.0%, of electrical machinery and equipment – by 22.8%, of products of prepared fish, crustaceans, molluscs and preserves – by 20.8%, of sawn wood – by 19.4%, but the exports of agglomerated and non-agglomerated peat increased by 25.2%, of milk, cream and milk products, excluding butter, cheese and curd – by 20.8%, of iron and non-alloy steel – by 12.9%, of wood in the rough – by 8.2%.

In May 2008, compared to May 2007, the most notable increase witnessed exports of wheat and meslin (exported to Germany and Lithuania) – almost 4 times, of iron and non-alloy steel – by 41.1%, of articles of iron or steel – by 21.2%, of electrical machinery and equipment – by 18.0%, but the exports of sawn wood decreased by 50.8%, of articles of apparel, not knitted or crocheted - by 18.4%, of fuel wood - by 15.8% and of wood in the rough - by 14.8%.

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

Total

% (+, -) over

EU countries, % of total of the group

thsd lats

% of total

April 2008

May 2007

Imports - total

599 042

100

-13.0

-11.5

76.1

Agricultural and food products (I-IV)

75 805

12.7

-16.6

+5.4

88.8

of which - prepared foodstuffs (IV)

38 275

6.4

-14.6

-2.1

87.4

Mineral products (V) 1)

96 733

16.1

+12.5

+38.7

53.3

Products of the chemical and allied industries (VI)

53 862

9.0

-22.6

-0.3

81.0

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

30 475

5.1

-3.1

-3.1

87.9

Wood and wood products (IX)

11 641

1.9

-17.6

-58.0

56.5

Textiles and textile articles (XI)

23 317

3.9

-24.6

-19.3

83.6

Base metals and articles of base metals (XV)

67 378

11.2

-0.1

0.0

53.6

Machinery and mechanical appliances; electrical equipment (XVI)

103 485

17.3

-24.1

-28.0

83.1

Transport vehicles (XVII)

75 825

12.7

-11.3

-28.6

91.4

Miscellaneous manufactured articles; including furniture (XX)

16 531

2.8

-19.7

-19.6

79.1

Other goods

43 990

7.3

-21.0

-20.0

82.2

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

Compared to month before, in May 2008 the most rapid decrease at current prices was observed in imports of articles of apparel, not knitted or crocheted – by 44.1%, of machinery and mechanical appliances – by 27.1%, of paper and paperboard, articles of paper – by 20.8%, of electrical machinery and equipment – by 19.5%, of iron and non-alloy steel – by 8.6%, but the imports of diesel oil increased by 17.2%, of plastics, primary forms – by 12.5%, of mobile telephones – by 10.1%, of residual fuel oils – by 3.3%.

Compared to May 2007 the most notable decrease had imports of sawn wood – by 79.1%, of passenger cars – by 41.8%, of machinery and mechanical appliances – by 36.6%, of articles of iron or steel – by 29.0%, but imports of natural gas increased by 80.2%, of electricity – by 64.3%, of meat of swine, fresh, chilled or frozen (excluding offal) – by 42.8%, but of diesel oil – by 40.5%.

Main partners of Latvia’s foreign trade at current prices

Groups of countries, countries

May 2008

April 2008

May 2007

thsd lats

% of total

thsd lats

% of total

thsd lats

% of total

Exports - total

369 701

100

403 361

100

348 256

100

EU countries,

273 111

73,9

294 228

72,9

262 721

75,4

CIS

53 800

14,6

58 616

14,5

49 660

14,3

Other countries

42 790

11,6

50 517

12,5

35 875

10,3

Main exports partners:

Lithuania

61 787

16,7

66 811

16,6

50 999

14,6

Estonia

49 839

13,5

56 945

14,1

47 668

13,7

Russia

37 486

10,1

39 535

9,8

31 750

9,1

Germany

32 910

8,9

39 233

9,7

29 988

8,6

Sweden

24 199

6,5

31 321

7,8

23 362

6,7

Denmark

15 825

4,3

15 206

3,8

11 782

3,4

United Kingdom

15 679

4,2

17 570

4,4

25 310

7,3

Imports - total

599 042

100

688 529

100

676 645

100

 

EU countries

456 052

76,1

528 748

76,8

533 040

78,8

 

CIS

93 149

15,5

102 481

14,9

83 309

12,3

 

Other countries

49 841

8,3

57 300

8,3

60 296

8,9

Main imports partners:

Lithuania

96 787

16,2

103 894

15,1

92 334

13,6

Germany

82 597

13,8

104 110

15,1

105 856

15,6

Russia

60 559

10,1

64 846

9,4

48 968

7,2

Estonia

43 076

7,2

48 627

7,1

54 258

8,0

Poland

39 996

6,7

47 610

6,9

48 356

7,1

Finland

28 219

4,7

33 771

4,9

36 219

5,4

Sweden

27 305

4,6

36 476

5,3

35 539

5,3

Total foreign trade turnover at current prices in January – May 2008 was 8.1% or 376.3 mln lats more than in the corresponding period of previous year, and its value reached 5036.0 mln lats.

Foreign trade of Latvia in January - May 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

1 865 991

100

75.5

3 169953

100

76.8

Agricultural and food products (I-IV)

280 598

15.0

71.3

414 739

13.1

87.1

Live animals and animal products (I)

66 097

3.5

84.8

85 906

2.7

93.5

Vegetation products (II)

73 071

3.9

86.8

108 614

3.4

80.5

Fats and oils (III)

3 766

0.2

97.0

17 017

0.5

97.7

Prepared foodstuffs (IV)

137 664

7.4

55.8

203 202

6.4

87.0

Mineral products (V) 1)

76 152

4.1

58.6

439 678

13.9

46.8

Products of the chemical and allied industries (VI)

143 748

7.7

67.4

311 851

9.8

79.3

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

49 706

2.7

73.3

153 417

4.8

87.2

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

6 522

0.3

85.5

10 810

0.3

81.5

Wood and wood products (IX)

352 491

18.9

90.6

71 830

2.3

54.2

Pulp of wood; paper and paperboard (X)

33 016

1.8

80.3

76 932

2.4

85.9

Textiles and textile articles (XI)

108 652

5.8

68.5

138 551

4.4

84.1

Footwear, headgear, umbrellas and other articles (XII)

5 854

0.3

82.5

31 475

1.0

85.8

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

38 138

2.0

78.5

64 418

2.0

87.0

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

4 272

0.2

85.9

15 365

0.5

49.2

Base metals and articles of base metals (XV)

318 300

17.1

76.4

314 602

9.9

57.7

Machinery and mechanical appliances; electrical equipment (XVI)

216 469

11.6

67.3

581 700

18.4

85.1

Transport vehicles (XVII)

148 456

8.0

82.7

396 549

12.5

92.8

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

16 576

0.9

42.7

49 491

1.6

84.0

Arms and ammunition (XIX)

13

0.0

-

3 128

0.1

88.6

Miscellaneous manufactured articles; including furniture (XX)

65 756

3.5

72.6

95 138

3.0

79.5

Works of art, collectors pieces and antiques (XXI)

21

0.0

-

279

0.0

72.4

Other goods

1 253

0.1

69.9

-

-

-

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