In June, foreign trade turnover decreased by 2.4 %

09.08.2016

Provisional data of the Central Statistical Bureau (CSB) show that, as compared to May, in June 2016 Latvian foreign trade turnover at current prices decreased by 2.4 %, as the exports value of goods declined by 3.1 % and the imports value dropped by 1.8 %. In June, Latvia exported goods in the amount of EUR 815 mln, and imported goods in the amount of EUR 984 mln. The foreign trade balance worsened slightly, as exports in the total foreign trade value dropped to 45.3 % (in May 2016 – 45.6 %).

Foreign trade of Latvia, mln EUR


 

Notes: data on October, November, December 2015 and March 2016 have been revised

Main changes in exports in June, compared to May:

-       exports of basic metals and articles of basic metals fell by EUR 20.2 mln or 22.4 %,

-       exports of vegetable products decreased by EUR 15.0 mln or 35.8 %,

-       exports of wood and articles of wood reduced by EUR 11.2 mln or 7.1 %,

-       exports of machinery and mechanical appliances; electrical equipment increased by EUR 13.0 mln or 10.1 %,

-       exports of prepared foodstuffs grew by EUR 6.5 mln or 10.0 %.

Main changes in imports in June, compared to May:

-       imports of vehicles and associated transport equipment dropped by EUR 21.9 mln or 17.0 %,

-       imports of products of the chemical and allied industries declined by EUR 6.8 mln or 6.1 %,

-       imports of vegetable products decreased by EUR 3.3 mln or 8.2 %,

-       imports of machinery and mechanical appliances; electrical equipment rose by EUR 10.8 mln or 5.5 %,

-       imports of prepared foodstuffs increased by EUR 4.1 mln or 5.0 %.

In June, the main export partners in trade with the EU countries were Lithuania (19.0 % of total export), Estonia (12.7 %), Germany (6.9 %) and Sweden (6.8 %), whereas the main import partners were Lithuania (16.5 % of total imports), Germany (12.6 %), Poland (11.7 %) and Estonia (7.7 %).

Foreign trade of Latvia by country group in June 2016, at current prices

 

Exports

Imports

 

mln EUR

% of

total

Changes as % over May 2016

mln EUR

% of

total

Changes as % over May 2016

Total

815.4

100

-3.1

984.1

100

-1.8

European Union countries

608.0

74.6

-2.5

804.0

81.7

0.8

   Euro area countries

409.7

50.2

-1.0

570.2

57.9

-0.7

CIS countries

101.7

12.5

16.1

99.3

10.1

5.9

Other countries

105.7

12.9

-18.8

80.8

8.2

-27.1

 

Russia was the main partner in trade with third countries; its share in total Latvian exports in June accounted for 7.9 %, whereas in imports – for 7.1 %.

 

Changes of main commodities in Latvia’s exports in June 2016, at current prices

 

thsd EUR

% of

total

Changes as % over

June 2015

May 2016

average of previous 12 months

Total

815 409

100

0.4

-3.1

-4.3

wood and wood products; wood charcoal

146 046

17.9

2.2

-7.1

0.7

electrical machinery and equipment

93 038

11.4

-10.5

17.2

-8.9

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

50 299

6.2

13.5

-2.1

17.7

machinery and mechanical appliances

49 026

6.0

-4.5

-1.2

-9.1

mineral fuels, mineral oils and products of their distillation

48 127

5.9

-5.8

9.3

2.3

pharmaceutical products

36 099

4.4

28.9

-8.7

19.3

articles of iron or steel

32 765

4.0

30.3

-1.9

19.0

beverages, spirits and vinegar

31 092

3.8

17.1

21.3

-6.2

furniture, other furnishing articles; prefabricated buildings

27 986

3.4

22.1

15.4

26.1

iron and steel

21 607

2.6

-30.1

-47.0

-22.7

The rise in exports of articles of iron and steel in June 2016, as compared to June 2015, was affected by the increase in exports of welded tubes, pipes and hollow profiles of iron and steel with a non-circular cross-section by EUR 0.6 mln or 33.0 %. In turn, exports of iron and steel reduced, as the exports of iron and non-alloy steel bars decreased by EUR 10.1 mln or 88.6%.

 

Changes of main commodities in Latvia’s imports in June 2016, at current prices

 

thsd EUR

% of

total

Changes as % over

June 2015

May 2016

average of previous 12 months

Total

984 117

100

-4.1

-1.8

-3.3

electrical machinery and equipment

109 180

11.1

-14.7

8.0

-8.3

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

101 843

10.3

26.3

-3.3

21.8

machinery and mechanical appliances

97 211

9.9

-4.3

2.9

-5.8

mineral fuels, mineral oils and products of their distillation

93 681

9.5

-15.4

3.3

-11.5

pharmaceutical products

47 283

4.8

15.0

-13.6

2.8

plastics and articles thereof

41 254

4.2

-10.1

-5.9

0.9

wood and wood products; wood charcoal

35 060

3.6

18.2

-4.3

12.8

iron and steel

30 836

3.1

-17.6

-8.9

-3.5

beverages, spirits and vinegar

27 165

2.8

4.9

-1.6

-6.1

articles of iron or steel

24 060

2.4

-5.1

6.6

4.6

The rise in imports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof in June 2016, as compared to June 2015, was affected by the increase in imports of passenger cars by EUR 8.7 mln or 26.4 %. In turn, a decline in the imports of semi-finished products of iron or non-alloy steel of EUR 6.9 mln or of 98.5 % had the most significant effect on the imports of iron and steel.

More information on foreign trade of Latvia by month and quarter, 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
E-mail: media [at] csb [dot] gov [dot] lv
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More information on data:
Lilita Laganovska
Foreign Trade Statistics Methodology, Analysis and Dissemination Section
E-mail: Lilita [dot] Laganovska [at] csb [dot] gov [dot] lv
Phone: +371 67366604