Last year exports of goods share in foreign trade of Latvia increased

17.02.2014

In 2013 Latvia exported goods in amount of 10.0 billion euros, but imported - in amount of 12.5 billion euros. The provisional data of the Central Statistical Bureau show that the value of goods exported at current prices increased by EUR 147.3 mln (LVL 103.5 mln) or by 1.5%, but at the same time value of imports reduced by EUR 24.8 mln (LVL 17.4 mln) or by 0.2% as compared to 2012.

In the result foreign trade balance has improved slightly – share of exports in total foreign trade value has reached 44.5%. In 2012 it was 44.1%.

Foreign trade of Latvia at current prices by quarters, mln euros

Data source: Central Statistical Bureau of Latvia

Excluding impact of price changes, over a year exports volume at constant prices dropped by 0.1%, but imports volume – by 0.7%.

Changes of exports at current and constant prices by quarters
as % over the correponding quarter of the previous yearas % over the previous quarter
Changes of imports at current and constant prices by quarters 
as % over the corresponding quarter of the previous year as % over the previous quarter

Data source: Central Statistical Bureau of Latvia

Grouping exporters and importers of goods by their main economic activity, information on how many goods are imported or exported by enterprises belonging to certain sector is obtained:

Structure of foreign trade of Latvia according to kind of economic activity of enterprises by NACE Rev. 2 classification in 2013, at current prices

Exporters/importers by main kind of their economic activity

Exports

Imports

mln euros

mln lats

as % of total value

mln euros

mln lats

as % of total value

Total

10 018.4

7 041.0

100

12 487.5

8 776.3

100

Agriculture, forestry and fishing 

191.5

134.6

1.9

66.4

46.7

0.5

Mining and quarrying

89.7

63.0

0.9

22.8

16.0

0.2

Manufacturing

3 915.6

2 751.9

39.1

1 811.1

1 272.8

14.5

Electricity, gas, and steam supply

65.3

45.9

0.7

572.7

402.5

4.6

Water supply, sewerage, waste management and remediation activities

34.3

24.1

0.3

27.3

19.2

0.2

Construction

70.3

49.4

0.7

164.3

115.5

1.3

Wholesale and retail trade; repair of motor vehicles and motorcycles

4 136.9

2 907.4

41.3

7 552.8

5 308.2

60.5

Transport and storage

426.8

300.0

4.3

249.7

175.5

2.0

Other kinds of activity; without breakdown by sections

1 087.9

764.6

10.9

2 020.3

1 419.8

16.2

In 2013 the largest amount of goods – two fifths of the total value of exports was exported by enterprises whose main activity is wholesale and retail trade. Compared to 2012, exports of these enterprises rose by 21.5 mln euros (15.1 mln lats) or 0.5%. At the same time exports of manufacturing enterprises decreased by 116.6 mln euros (82.0 mln lats) or 2.9%.

Also in imports the largest amount of goods – three fifths of the total value of imports was imported by enterprises whose main activity is wholesale and retail trade.However, compared to 2012, amount of goods imported by these enterprises shrank by 53.7 mln euros (37.7 mln lats) or 0.7%.

Accordingly final consumption of goods statistical data on foreign trade grouped show that last year, compared to 2012, exports ofcapital goods has increased rapidly – by 17.8%, but imports, however, has decreased by 10.0%. Share of these goods in exports comprised 11.2%, but in imports – 13.1%. Capital goods consist of fixed assets, raw materials and other materials foreseen for the further processing.

More information on Latvia’s foreign trade by quarters by kind of activity of enterprises (NACE Rev. 2) and by classification of Broad Economic Categories, Rev. 4 (BEC) is available in CSB database "Foreign trade" section Short term statistics.

 

More information:
Foreign trade statistics methodology, analysis and dissemination section
Lilita Laganovska
Tel.: +371 67366604