Main commodities and partners in foreign trade of Latvia in the 1st half-year of 2008

20.08.2008

The data of the Central Statistical Bureau show that, in January - June 2008 total volume of goods in foreign trade of Latvia at current prices reached 5973.1 mln lats – an increase of 305.7 mln lats or 5.4%, if compared to January – June 2007.

Latvia’s foreign trade at current prices by quarters, mln lats

Data adjusted on 1st quarter of 2007 and 2008

Due to the influence of price changes, compared to January – June 2007, in January – June 2008 the volume of exports at constant prices grew by 5.6%, but the volume of imports at constant prices decreased by 7.8%.

Latvia’s exports and imports (BEC1) at current prices, mln lats

Goods

Exports

Imports

I-VI 2007

I-VI 2008

I-VI 2007

I-VI 2008

mln lats

as % of total volume

mln lats

as % of total volume

mln lats

as % of total volume

mln lats

as % of total volume

Total

1 923.0

100

2 216.2

100

3 744.5

100

3 756.9

100

Capital goods

168.2

8.7

193.8

8.7

700.7

18.7

564.0

15.0

Goods of intermediate consumption

1 159.2

60.3

1 281.8

57.8

1 675.5

44.8

1 667.2

44.4

Consumer goods

468.7

24.4

480.0

21.7

883.0

23.6

867.0

23.1

Other goods

60.2

3.1

188.9

8.5

118.9

3.2

377.9

10.1

Passenger cars 2

54.3

2.8

65.5

3.0

289.8

7.7

195.8

5.2

Automative fuel 2

12.4

0.7

6.2

0.3

76.6

2.0

85.0

2.3

1Broad Economic Categories classification.

2 Those commodities are included in several groups of BEC.

By grouping exported and imported goods in categories by their possible use, in accordance to the BEC classification, general concept on the country exports and imports may be obtained – the bigger the share of capital goods and goods of intermediate consumption in imports, the more possible it is to stimulate the development of the local production.

In January – June 2008 export value at current prices reached 2216.2 mln lats – an increase of 293.3 mln lats compared to the first six months of 2007. The increase was observed in almost all commodity groups, however, exports of textiles and textile articles decreased by 11.6% and of wood and articles of wood – by 6.2%.

Main commodities in Latvia’s exports, at current prices

Commodity (CN code)

I-VI 2007

I-VI 2008

mln lats

as % of total volume

mln lats

as % of total volume

Iron and non-alloy steel (7206-7217)

151.5

7.9

191.5

8.6

Electronic machinery and equipment (85)

97.2

5.1

131.9

6.0

Machinery and mechanical appliances (84)

104.8

5.4

127.0

5.7

Sawn wood(4407)

172.4

9.0

110.6

5.0

Pharmaceutical products (30)

71.3

3.7

76.1

3.4

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

81.2

4.2

74.2

3.3

Wood in the rough (440310-440399)

68.7

3.6

71.3

3.2

Wood articles (4414-4421)

62.8

3.3

60.0

2.7

Veneer sheets and plywood (4408, 4412)

50.0

2.6

55.5

2.5

Fuel wood (4401)

45.6

2.4

45.3

2.0

Furniture, including mattress and articles of bedding and similar furnishing (9401-9404)

50.3

2.6

41.2

1.9

Semi-manufactures of plastics (3915-3926)

33.6

1.7

30.8

1.4

Paper and paperboard (48)

25.3

1.3

30.4

1.4

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

23.6

1.2

27.5

1.2

Prepared or preserved fish (1604-1605)

23.4

1.2

25.8

1.2

Peat, whether or not agglomerated (2703)

23.2

1.2

22.6

1.0

Wheat and meslin (1001)

5.0

0.3

21.4

1.0

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

11.8

0.6

18.0

0.8

Cheese and curd (0406)

10.9

0.6

12.5

0.6

Vodka (220860)

13.4

0.7

12.4

0.6

In January - June 2008 the most significant part (17.0%) of the Latvia exports took exports to Lithuania, Estonia (13.4%), Russia (9.9%), Germany (8.9%) and Sweden (7.3%).

Import value in January – June 2008 at current prices was 12.4 mln lats or 0.3% higher than in January – June 2007, and reached 3756.9 mln lats.

Compared to the corresponding period of previous year, in January – June 2008 the increase of commodity imports at current prices was recorded in the imports of mineral products – by 36.5%, of agricultural goods and food products – by 18.8%, of products of the chemical and allied industries – by 12.3%, and of base metals and articles of base metals - by 7.3%. But the imports of wood and articles of wood reduced by 41.0%, of transport vehicles – by 18.7%, of machinery and mechanical appliances; electrical equipment – by 12.5%, and of textiles and textile articles – by 3.9%.

Main commodities in Latvia’s imports, at current prices

Commodity (CN code)

I-VI 2007

I-VI 2008

mln lats

as % of total volume

mln lats

as % of total volume

Machinery and mechanical appliances (84)

492.4

13.1

388.9

10.4

Electronic machinery and equipment (85)

289.9

7.7

295.7

7.9

Passenger cars (8703)

290.3

7.8

196.1

5.2

Diesel oil (27101941-27101949)

131.5

3.5

186.8

5.0

Iron and non-alloy steel (7206-7217)

135.3

3.6

144.2

3.8

Pharmaceutical products (30)

13.2

3.6

131.7

3.5

Natural gas (271121)

83.9

2.2

110.3

2.9

Articles of iron or steel (73)

117.9

3.1

104.3

2.8

Motor spirit (27101141-27101159)

76.5

2.0

85.0

2.3

Semi-manufactures and articles of plastics (3915-3926)

93.7

2.5

84.0

2.2

Paper and paperboard, articles of paper (48)

75.5

2.0

76.8

2.0

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

73.2

2.0

71.5

1.9

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

19.7

0.5

25.1

0.7

Cigarettes (240220)

20.6

0.6

22.6

0.6

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

15.0

0.4

21.8

0.6

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

13.9

0.4

19.1

0.5

Residual fuel oil (27101961-27101969)

11.4

0.3

13.3

0.4

Poultry, chilled or frozen (0207)

10.2

0.3

10.3

0.3

Cement (2523)

9.2

0.2

9.6

0.3

Wine of fresh grapes (220421, 220429)

16.1

0.4

9.5

0.3

In January - June 2008 the most significant part (15.8%) of the Latvia imports took imports from Lithuania, Germany (13.8%), Russia (9.8%), Estonia (7.3%) and Poland (6.9%).

Prepared by the Foreign Trade Section
Tel. +371 67366604
Lilita Laganovska