In November, foreign trade turnover of Latvia has reduced by 3.8 %

11.01.2016

Provisional data compiled by the Central Statistical Bureau of Latvia (CSB) show that, compared to October, foreign trade turnover of Latvia at current prices in November 2015 dropped by 3.8 %, of which exports value of goods declined by 5.8 % and imports value – by 2.0 %. In November, the amount of goods exported by Latvia comprised EUR 935.3 million, while the amount imported constituted EUR 1 060.0 million. As exports in the total foreign trade dropped down to 46.9 % (in October 2015 – 47.9%), foreign trade balance declined slightly.

Latvia’s foreign trade, million EUR

Data source: CSB
Notes: data on August 2015 have been specified

Main changes in exports in November, compared to October:

-       exports of vegetable products dropped by EUR 33.7 million or by 25.4 %,

-       exports of wood and articles of wood decreased by EUR 22.9 million or by 14.1 %,

-       exports of mineral products reduced by EUR 19.8 million or by 26.9 %,

-       exports of basic metals and articles of basic metals declined by EUR 7.1 million or by 8.9 %,

-       exports of machinery and mechanical appliances; electrical equipment grew by EUR 17.5 million or by 11.1 %,

Main changes in imports in November, compared to October:

-       imports of transport vehicles and equipment fell by EUR 13.1 million or by 13.2 %,

-       imports of machinery and mechanical appliances; electrical equipment dropped by EUR 10.7 million or by 4.4 %,

-       imports of textiles and textile articles reduced by EUR 9.8 million or by 21.7 %,

-       imports of basic metals and articles of basic metals declined by EUR 8.4 million or by 10.7 %,

-       imports of products of the chemical and allied industries grew by EUR 23.0 million or by 23.3 %,

In November, the most significant part in Latvia’s exports to EU countries took exports to Lithuania (18.5 % of total exports), Estonia (11.5 %), Germany (6.5 %), and Sweden (5.4 %), whereas main imports partners were Lithuania (15.2 % of total imports), Germany (12.0 %), Poland (10.3 %), and Estonia (7.1 %).

 

Latvia's foreign trade in November 2015 by country group, at current prices

 

Exports

Imports

 

million EUR

% of

total

Changes as % over October 2015

million EUR

% of

total

Changes as % over October 2015

Total

935.3

100

-5.8

1 060.0

100

-2.0

European Union countries

644.4

68.9

-12.2

829.1

78.2

-2.4

   Euro Area countries

450.8

48.2

-11.2

595.9

56.2

-3.0

CIS countries

114.3

12.2

-1.3

134.3

12.7

0.7

Other countries

176.6

18.9

23.6

96.6

9.1

-2.4

 

Russia was the key partner in Latvia's trade with third countries, comprising 8.6% in the total Latvia’s exports and 9.2% in the total Latvia’s imports in November.

 

Changes in main commodities in Latvia’s exports in November 2015, at current prices

 

thousand EUR

% of

total

Changes as % over

November 2014

October 2015

average of previous 12 months

Total

935 251

100

2.2

-5.8

8.5

wood and wood products; wood charcoal

139 789

14.9

3.3

-14.1

-3.2

electrical machinery and equipment

128 327

13.7

9.8

22.3

18.1

cereals

75 521

8.1

94.0

27.5

2.8 times

beverages, spirits and vinegar

51 659

5.5

-20.3

5.7

47.6

mineral fuels, mineral oils and products of their distillation

49 599

5.3

-30.6

-27.6

-16.9

machinery and mechanical appliances

46 688

5.0

-1.7

-11.2

-9.4

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

41 574

4.4

5.9

20.6

10.2

pharmaceutical products

28 867

3.1

12.2

7.3

7.5

articles of iron or steel

28 753

3.1

1.6

-19.4

2.6

iron and steel

28 627

3.1

17.6

1.0

-7.4

Rise in exports of cereals in November 2015, as compared to November 2014, was caused by the increase in the exports of wheat and meslin of EUR 39.4 million or 2.2 times. Whereas due to the decline in exports of petroleum oils and oils obtained from bituminous minerals of EUR 17.1 million or 99.0 %, exports of mineral fuels, mineral oils and products of their distillation diminished.

 

Changes in main commodities in Latvia’s imports in November 2015, at current prices

 

thousand EUR

% of

total

Changes as % over

November 2014

October 2015

average of previous 12 months

Total

1 059 984

100

-2.8

-2.0

0.7

electrical machinery and equipment

130,724

12.3

-10.8

-6.6

0.2

mineral fuels, mineral oils and products of their distillation

119,267

11.3

-26.8

-1.0

-4.5

machinery and mechanical appliances

104,839

9.9

4.0

-1.4

3.2

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

74 715

7.0

6.2

-13.8

-3.6

pharmaceutical products

52 933

5.0

31.8

50.2

24.2

plastics and articles thereof

41 769

3.9

0.4

-1.3

-2.8

beverages, spirits and vinegar

36 841

3.5

19.5

8.1

34.3

wood and wood products; wood charcoal

30 990

2.9

5.4

-5.6

0.9

iron and steel

27 296

2.6

-0.01

-13.3

-25.7

The rise in imports of pharmaceutical products in November 2015, as compared to the November 2014, was mainly affected by the increase in imports of medical products of EUR 5.4 thousand or 16.2 %. While drop in imports of mineral fuels, mineral oils and products of their distillation was mainly influenced by the decline in imports of diesel oil of EUR 16.1 million or 21.2 %.

More information on Latvia’s foreign trade in breakdown by month and quarter, as well as by country group and commodity group is available in CSB database section "Foreign trade".

Media requests:
Beate Danusēviča, Kristīne Romanovska
Information and Communication Section
media [at] csb [dot] gov [dot] lv
Tel.: + 371 67366924, + 371 67366621, + 371 27880666
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More information on data:
Foreign Trade Statistics Methodology, Analysis and Dissemination Section
Lilita Laganovska
lilita [dot] laganovska [at] csb [dot] gov [dot] lv
Tel. + 371 67366604