In May, foreign trade turnover grew by only 0.6 %

11.07.2016

Provisional data of the Central Statistical Bureau (CSB) show that, as compared to April, in May 2016 Latvian foreign trade turnover at current prices grew by 0.6 %, as the exports value of goods rose by 0.9 % and the imports value increased by 0.4 %. In May, Latvia exported goods in the amount of EUR 0.8 billion, and imported goods in the amount of one billion euros. The foreign trade balance improved, as exports in the total foreign trade value increased up to 45.6 % (in April 2016 – 45.5 %).

Foreign trade of Latvia, mln EUR


Notes: data on July, August, September 2015 and February 2016 have been revised

Main changes in exports in May, compared to April:

-       exports of basic metals and articles thereof increased by EUR 21.9 mln or 32.2 %,

-       exports of vehicles and associated transport equipment grew by EUR 14.4 mln or 34.2 %,

-       exports of products of the chemical and allied industries increased by EUR 8.3 mln or 12.5 %,

-       exports of machinery and mechanical appliances; electrical equipment decreased by EUR 10.8 mln or 7.7 %,

-       exports of vegetable products dropped by EUR 8.1 mln or 16.2 %.

Main changes in imports in May, compared to April:

-       imports of vehicles and associated transport equipment rose by EUR 59.1 mln or 84.4 %,

-       imports of mineral products grew by EUR 17.5 mln or 22.9 %,

-       imports of machinery and mechanical appliances; electrical equipment dropped by EUR 29.5 mln or 13.1 %,

-       imports of products of the chemical and allied industries reduced by EUR 19.4 mln or 14.8 %,

-       imports of vegetable products decreased by EUR 9.8 mln or 19.4 %.

In May, the main export partners in trade with the EU countries were Lithuania (17.8 % of total export), Estonia (12.8 %), Germany and the United Kingdom (6.8 % each), whereas the main import partners were Lithuania (17.3 % of total imports), Germany (11.2 %), Poland (10.3 %) and Estonia (7.9 %).

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

 

Exports

Imports

 

mln EUR

% of

total

Changes as % over April 2016

mln EUR

% of

total

Changes as % over April 2016

Total

841.3

100

0.9

1,001.8

100

0.4

European Union countries

623.5

74.1

0.3

797.3

79.6

-2.0

   Euro area countries

413.7

49.2

-0.1

574.3

57.3

-2.2

CIS countries

87.6

10.4

-10.2

93.7

9.4

-1.2

Other countries

130.2

15.5

13.1

110.8

11.0

23.2

 

Russia was the main partner in trade with third countries; its share in total Latvian exports in May accounted for 6.7 %, whereas in imports – for 6.2 %.

 

Changes of main commodities in Latvian exports in May 2016, at current prices

 

thsd EUR

% of

total

Changes as % over

May 2015

April 2016

average of previous 12 months

Total

841 331

100

4.4

0.9

-0.9

wood and wood products; wood charcoal

157 174

18.7

15.1

-2.1

7.8

electrical machinery and equipment

79 415

9.4

-25.2

-4.8

-20.8

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

51 404

6.1

28.0

45.0

26.1

machinery and mechanical appliances

49 621

5.9

-3.5

-12.0

-7.1

mineral fuels, mineral oils and products of their distillation

44 017

5.2

-14.2

-4.7

-9.4

iron and steel

40 775

4.8

-13.3

2.0 times

40.4

pharmaceutical products

39 519

4.7

68.2

15.9

35.9

articles of iron or steel

33 397

4.0

22.1

2.1

21.7

beverages, spirits and vinegar

25 630

3.0

10.4

-10.4

-22.4

furniture, other furnishing articles; prefabricated buildings

24 249

2.9

12.7

-3.9

10.2

The rise in exports of pharmaceutical products in May 2016, as compared to May 2015, was affected by the increase in exports of medicines by EUR 13.2 mln or 65.3 %. In turn, a drop of EUR 34.7 mln or 77.8 % in exports of mobile telephones accounted for a decrease in exports of electrical machinery and equipment.

 

Changes of main commodities in Latvian imports in May 2016, at current prices

 

thsd EUR

% of

total

Changes as % over

May 2015

April 2016

average of previous 12 months

Total

1 001 810

100

2.9

0.4

-1.5

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

105 293

10.5

45.3

57.6

32.5

electrical machinery and equipment

101 081

10.1

-18.3

-14.3

-14.9

machinery and mechanical appliances

94 472

9.4

-0.7

-11.8

-8.6

mineral fuels, mineral oils and products of their distillation

90 662

9.0

-15.2

24.2

-16.7

pharmaceutical products

54 756

5.5

33.5

6.2

22.3

plastics and articles thereof

43 855

4.4

4.1

2.6

7.4

wood and wood products; wood charcoal

36 654

3.7

21.8

4.4

18.8

iron and steel

33 864

3.4

-17.9

6.4

4.4

beverages, spirits and vinegar

27 610

2.8

2.0

-2.4

-3.6

articles of iron or steel

22 561

2.3

-16.3

-7.9

-4.2

The rise in imports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof in May 2016, as compared to May 2015, was affected by the increase in imports of passenger cars by EUR 11.3 mln or 38.7 %. Whereas the drop in imports of electrical machinery and equipment was mainly influenced by a decline of EUR 19.0 mln or 47.2 % in imports of mobile telephones.

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:
Beate Danusēviča, Sanda Rieksta
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: + 371 67366924, + 371  67366621, + 371 27880666
www.twitter.com/CSB_Latvia
www.facebook.com/csplatvija

 

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