In January, foreign trade turnover amounted to 1.8 billion euros

13.03.2017

Provisional data of the Central Statistical Bureau (CSB) show that in January 2017 Latvian foreign trade turnover amounted to EUR 1.8 bln, which was 16.1 % higher than in January 2016 (at current prices), and the exports and imports values of goods were 13.3 % and 18.5 % higher, respectively. In January, Latvia exported goods in the amount of EUR 808.7 mln, and imported goods in the amount of EUR 984.1 mln.

During the month of January, the foreign trade balance worsened, as exports in the total foreign trade value dropped to 45.1 % (in January 2016 – 46.2 %).

 

Foreign trade of Latvia, mln EUR

Data source: CSB
Notes: data on October 2016 have been revised

Main changes in exports in January 2017, compared to January 2016:

-       exports of wood and articles of wood up by EUR 22.3 mln or 16.6 %,

-       exports of prepared foodstuffs up by EUR 20.9 mln or 44.8 %,

-       exports of basic metals and articles of basic metals up by EUR 19.7 mln or 38.3 %,

-       exports of vehicles, aircraft, vessels and associated transport equipment up by EUR 15.6 mln or 46.3 %,

-       exports of vegetable products down by EUR 11.5 mln or 18.4 %.

Main changes in imports in January 2017, compared to January 2016:

-       imports of products of the chemical and allied industries up by EUR 22.5 mln or 24.6 %,

-       imports of prepared foodstuffs up by EUR 17.1 mln or 26.9 %,

-       imports of vehicles, aircraft, vessels and associated transport equipment up by EUR 11.9 mln or 19.5 %,

-       imports of basic metals and articles of basic metals up by EUR 11.8 mln or 18.8 %,

-       imports of mineral products down by EUR 6.9 mln or 6.0 %.

 

In January, the main export partners in trade with EU countries were Lithuania (17.3 % of total exports), Estonia (11.2 %), Germany (8.8 %) and Sweden (7.6 %), whereas the main import partners were Lithuania (16.9 % of total imports), Germany (10.7 %), Poland (8.7 %) and Estonia (8.1 %).

Foreign trade of Latvia by country group in January 2017, at current prices

 

Exports

Imports

 

mln EUR

% of total

Changes as % compared to January 2016

mln EUR

% of total

Changes as % compared to January 2016

Total

808.7

100

13.3

984.1

100

18.5

European Union countries

619.8

76.6

16.4

720.0

73.2

14.1

   Euro area countries

408.0

50.4

13.7

540.3

54.9

18.6

CIS countries

80.7

10.0

42.8

112.5

11.4

-8.4

Other countries

108.2

13.4

-13.1

151.6

15.4

97.2

 

Russia was the main partner in trade with third countries; its share in total Latvian exports in January accounted for 7.0 %, whereas in imports – for 9.1 %.

 

Main commodities in exports of Latvia in January 2017, at current prices

 

thsd EUR

% of total

Changes as % compared to

January 2016

December 2016

Average of previous 12 months

Total

808 744

100

13.3

-8.6

-6.1

Wood and wood products; wood charcoal

156 775

19.4

16.6

5.1

4.9

Electrical machinery and equipment

88 772

11.0

-2.1

-6.7

-9.9

Vehicles other than railway or tramway rolling stock, and parts and accessories thereof

46 093

5.7

50.4

-12.0

-3.3

Mineral fuels, mineral oils and products of their distillation

37 188

4.6

5.4

-12.2

-6.1

Machinery and mechanical appliances

35 709

4.4

-9.9

-34.3

-33.0

Pharmaceutical products

32 398

4.0

31.1

-16.6

-3.9

Cereals

29 552

3.7

-30.7

77.8

-12.0

Beverages, spirits and vinegar

27 933

3.5

71.2

-40.4

-15.3

Articles of iron or steel

26 522

3.3

20.6

5.2

-5.9

Iron and steel

24 490

3.0

44.6

-2.8

-3.8

The rise in exports of beverages, spirits and vinegar in January 2017, as compared to January 2016, was mostly affected by an increase in the exports of spirits (of EUR 9.4 mln or 81.8 %). In turn, exports of cereals went down due to a drop in the exports of wheat and meslin (of EUR 14.8 mln or 36.3 %).

 

Main commodities in imports of Latvia in January 2017, at current prices

 

thsd EUR

% of total

Changes as % compared to

January 2016

December 2016

Average of previous 12 months

Total

984 050

100

18.5

-12.5

-4.0

Electrical machinery and equipment

112 044

11.4

0.1

-6.3

-5.7

Mineral fuels, mineral oils and products of their distillation

104 194

10.6

-6.0

2.6

17.8

Machinery and mechanical appliances

74 404

7.6

13.0

-31.3

-24.7

Vehicles other than railway or tramway rolling stock, and parts and accessories thereof

70 040

7.1

18.6

-33.2

-26.9

Pharmaceutical products

51 903

5.3

30.0

-4.6

8.7

Plastics and articles thereof

40 897

4.2

25.2

-1.1

-4.3

Iron and steel

37 158

3.8

23.7

-5.0

9.4

Wood and wood products; wood charcoal

32 535

3.3

28.8

-8.5

-4.2

Beverages, spirits and vinegar

26 683

2.7

59.0

-29.8

-12.1

Paper and paperboard; articles of paper pulp, of paper or of paperboard

21 004

2.1

8.7

-10.0

-4.6

The rise in imports of beverages, spirits and vinegar in January 2017, as compared to January 2016, was mostly affected by an increase in the imports of spirits (of EUR 3.7 mln or 42.4 %). In turn, the drop in imports of mineral fuels, mineral oils and products of their distillation was mainly influenced by a decrease in the imports of natural gas in gaseous state (of EUR 16.8 mln or 33.4 %).

More information on the foreign trade of Latvia by month and quarter, as well as by country group and commodity group, is available in the Foreign Trade section of the CSB database.

 

Media requests:
Sanda Rieksta
Information and Communication Section
media [at] csb [dot] gov [dot] lv
Phone.: +371 67366621, +371 27880666
www.csb.gov.lv
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More information on data:
Elga Bendrāte
Foreign Trade Statistics Methodology, Analysis and Dissemination Section
E-mail: Elga [dot] Bendrate [at] csb [dot] gov [dot] lv
Phone: +371 67366889