Latvia’s foreign trade. Main commodities and partners in 2007

21.02.2008

The value of Latvia’s foreign trade in 2007 at current prices reached 11746.4 mln lats, according to the Central Statistical Bureau. However, 2006 it comprised 9671.7 mln lats.

Latvia’s foreign trade, in thousands of lats

__________________
The data are updated for I, II, III quarters of 2007.

In the result of change impact of commodity prices the exports volume at constant prices in 2007, compared to 2006, has increased by 7.9%. The imports volume at constant prices has increased by 14.0%.

Structure of Latvian exports and imports (BEC1) at current prices, in mln lats

Breakdown of goods

Exports

Imports

2006

2007

2006

2007

mln lats

% of the total

mln lats

% of the total

mln lats

% of the total

mln lats

% of the total

Total

3 293,2

100

4 025,4

100

6 378,5

100

7 720,9

100

Capital goods

254,0

7,7

354,9

8,8

1 137,8

17,8

1 388,3

18,0

Intermediate consumption goods

1 960,7

59,5

2 385,1

59,3

2 844,6

44,6

3 325,0

43,1

Consumer goods

815,5

24,8

922,3

22,9

1 520,4

23,8

1 750,6

22,7

Other goods

124,2

3,8

237,1

5,9

213,4

3,5

534,5

6,9

Passenger cars 2

92,3

2,8

113,1

2,8

458,1

7,2

559,7

7,2

Motor petrol 2

46,5

1,4

12,9

0,3

204,2

3,2

162,8

2,1

________________________
1
Capital goods are comprised by interconsumption goods – raw materials and other materials which are provided for the further processing. Consumer goods are goods which are provided for the needs of population. Other goods which are not included into the mentioned categories are included into the category of other goods (for example, army equipment and other specific goods).
2 These goods are included into the several BEC (broad economic category classification) groups.

Having grouped the exported and imported goods into categories by the possible kind of utilization, accordingly to the BEC classification, common concept on the structure of country exports and imports is distinguished – the larger is the share of capital goods and intermediate consumption goods in the imports structure, the more domestic production development can be potentially stimulated.

In 2007 the exports value atcurrent prices reached 4025.2 mln lats – more by 732.0 mln lats compared to 2006.

In 2007, compared to 2006, the increase of commodity exports value at current prices was observed in almost all commodity groups. It must be mentioned that the exports value of wood and articles of wood was 3.5 times higher than their imports. The decrease was observed only for those goods the share of which in the exports of Latvia is very small (works of art, collectors pieces and antiques – by 69.4%, mineral products – by 9.2%, fats and oils – by 4.9%, raw hides, leather, furskins and articles thereof – by 0.8%).

Principal export commodities of Latvia, at current prices

Commodity (CN code)

2006

2007

mln lats

% of the total

mln lats

% of the total

Sawn wood (4407)

306,9

9,3

315,6

7,8

Iron and non-alloy steel (7206-7217)

239,8

7,3

289,4

7,2

Machinery and mechanical appliances (84)

161,7

4,9

226,0

5,6

Electrical machinery and equipment (85)

162,3

4,9

200,3

5,0

Wood in the rough (440310-440399)

85,0

2,6

163,3

4,1

Articles of apparel and accessories knitted or crocheted and articles of apparel, not knitted or crocheted (61-62)

160,1

4,9

154,9

3,8

Pharmaceutical products (30)

105,6

3,2

135,9

3,4

Articles of wood (4414-4421)

106,7

3,2

116,4

2,9

Veneer sheets and plywood (4408, 4412)

84,9

2,6

108,7

2,7

Furniture, including articles of bedding (9401-9404)

98,1

3,0

95,9

2,4

Fuel wood (4401)

84,4

2,6

95,4

2,4

Semi-manufactures of plastics (3915-3926)

59,9

1,8

67,0

1,7

Milk, cream, other cultured products, (0401-0404)

38,7

1,2

52,1

1,3

Preserved fish (1604-1605)

63,0

1,9

47,8

1,2

Cheese and curd, (0406)

24,2

0,7

28,2

0,7

Fish, fresh, chilled or frozen (0302-0304)

21,5

0,7

25,9

0,6

Vodka (220860)

18,1

0,5

24,9

0,6

In 2007 the most significant part (76.1%) of Latvian exports was in the dispatch of goods to the EU countries, which were followed by CIS countries – 14.6 % (including 9.6% to Russia).

Dispatch of goods to the EU countries in 2007, at current prices

Country

mln lats

% of the total

Country

mln lats

% of the total

Lithuania

623,9

15,5

Belgium

42,2

1,0

Estonia

573,6

14,2

Czech

24,4

0,6

Germany

354,8

8,8

Austria

23,6

0,6

Sweden

312,0

7,7

Slovakia

14,3

0,4

Great Britain

280,1

7,0

Hungary

13,5

0,3

Denmark

160,3

4,0

Cyprus

13,5

0,3

Poland

146,2

3,6

Greece

8,9

0,2

Finland

129,6

3,2

Romania

7,2

0,2

Netherlands

87,7

2,2

Portugal

4,5

0,1

France

65,0

1,6

Malta

4,2

0,1

Italy

63,1

1,6

Bulgaria

4,1

0,1

Spain

56,5

1,4

Slovenia

2,8

0,1

Ireland

43,1

1,1

Luxemburg

1,8

0,0

Dispatch of main commodities from Latvia to the European Union, at current prices, in mln lats

Compared to 2006, in 2007 the dispatch of transport vehicles at current prices increased rapidly – by 45.6%, of products of the chemical and allied industries – by 41.3%, prepared foodstuffs – by 37.4%, of pulp of wood; paper and paperboard – by 32.2%, of machinery and mechanical appliances; electrical equipment – by 28.2%, of base metals and articles of base metals- by 25.0%, of wood and articles of wood - by 24.8%. The dispatch of mineral products has decreased by 7.3%, of fats and oils – by 5.6%, of textiles and articles of textiles – by 4.9%.

Dispatch of main commodities from Latvia to the CIS, at current prices, in mln lats

In 2007 the exports of goods to the CIS countries at current prices has reached 586.4 mln lats. Compared to 2006, the dispatch of base metals and articles of base metals at current prices increased rapidly – by 48.7%, of machinery and mechanical appliances; electrical equipment – by 39.0%, of wood and articles of wood – by 38.5%. However, the exports of raw hides, leather, furskins and articles thereof decreased by 30.7%, of mineral products – by 4.4%.

In 2007 the imports value at current prices was 1342.5 mln lats higher than in 2006 reaching 7721.0 mln lats.

In 2007, compared to 2006, the increase of imports of goods at current prices was observed in all commodity groups: of wood and articles of wood – by 59.8%, of transport vehicles – by 30.4%, of machinery and mechanical appliances – by 25.7%, of prepared foodstuffs – by 25.7%, of base metals and articles of base metals – by 23.2%.

Main import commodities of Latvia, at current prices

Commodity (CN code)

2006

2007

mln lats

% of the total

mln lats

% of the total

Machinery and mechanical appliances (84)

739,9

11,6

928,0

12,0

Electrical machinery and equipment (85)

511,9

8,0

609,9

7,9

Passenger cars (8703)

459,3

7,2

560,3

7,2

Diesel oil (27101941-27101949)

296,9

4,7

314,8

4,1

Iron and non-alloy steel (7206-7217)

193,8

3,0

261,1

3,4

Pharmaceutical products (30)

216,7

3,4

242,9

3,1

Articles of iron and steel (73)

205,3

3,2

238,7

3,1

Semi-manufactures of plastics (3915-3926)

173,6

2,7

189,8

2,5

Motorpetrol (27101141-27101159)

204,0

3,2

162,6

2,1

Paper and paperboard, articles of paper (48)

135,5

2,1

157,1

2,0

Articles of apparel and accessories knitted or crocheted and articles of apparel, not knitted or crocheted (61-62)

125,5

2,0

153,7

2,0

Natural gas (271121)

123,0

1,9

151,4

2,0

Cigarettes (240220)

41,5

0,7

53,8

0,7

Milk and dairy products (0401-0404, 040510, 0406)

33,8

0,5

38,3

0,5

Fish, fresh, chilled or frozen (0302-0304)

28,3

0,4

36,1

0,5

Wine of fresh grapes (220421, 220429)

30,8

0,5

32,9

0,4

Meat of swine, fresh, chilled or frozen (0203)

30,1

0,5

29,0

0,4

Residual fuel oils (27101961-27101969)

29,4

0,5

25,7

0,3

Poultry chilled or frozen (0207)

17,2

0,3

21,5

0,3

Cement (2523)

13,2

0,2

19,5

0,3

In 2007 the most significant part (77.7%) of Latvian imports was in the dispatch of goods from the EU countries, which were followed by CIS countries – 13.3% (including 8.5% from Russia).

Dispatch of goods from the EU countries in 2007, at current prices

Country

mln lats

% of the total

Country

mln lats

% of the total

Germany

1 169,4

15,1

Austria

114,7

1,5

Lithuania

1 073,1

13,9

Spain

106,4

1,4

Estonia

624,4

8,1

Hungary

80,4

1,0

Poland

538,4

7,0

Cyprus

65,8

0,9

Finland

389,2

5,0

Slovakia

48,5

0,6

Sweden

381,3

4,9

Portugal

17,6

0,2

Italy

285,5

3,7

Ireland

14,8

0,2

Netherlands

240,8

3,1

Slovenia

13,4

0,2

Denmark

206,9

2,7

Luxemburg

13,0

0,2

France

182,9

2,4

Bulgaria

9,4

0,1

Belgium

145,4

1,9

Greece

8,5

0,1

Czech

139,5

1,8

Romania

5,4

0,1

Great Britain

126,6

1,6

Malta

0,2

0,0

Dispatch of main commodities of Latvia from the European Union, at current prices, in mln lats

Compared to 2006, in 2007 the dispatch of wood and articles of wood at current prices from the EU countries increased rapidly – by 47.9%, of transport vehicles - by 31.0%, of prepared foodstuffs – by 27.4%, of base metals and articles of base metals – by 24.6%, of mineral products – by 24.3%, of machinery and mechanical appliances; electrical equipment – by 24.1%.

Main import commodities of Latvia from the CIS, at current prices, in mln lats

In 2007 import commodities from CIS countries at current prices reached 1029.1 mln lats. Compared to 2006 the most rapid growth was observed in the imports of wood and articles of wood – by 67.9%, of transport vehicles – by 52.3%, of agriculture and food products – by 32.7%. However, the imports of optical instruments and apparatus decreased by 35.5%, of fats and oils – by 24.5%, of raw hides, leather, furskins and articles thereof – by 0.4%.

Prepared by the Foreign Trade Statistics Section
Tel. 67366604
Lilita Laganovska