In October, exports of cereals is still growing

10.12.2013

Provisional data compiled by the Central Statistical Bureau of Latvia show that, in comparison with September, exports value of goods at current prices in October 2013 has increased by 8.4%, and imports value has grown by 5.3%. As exports in the total foreign trade value went up to 46.5% (45.8% in September 2013), foreign trade balance in October improved slightly (see figure below).

Latvia’s foreign trade, million LVL1

Compared to September, exports of vegetable products in October grew by LVL 18.1 million (EUR 25.7 million) or by 39.3%.The greatest pressure on the exports of vegetable products was applied by the rise in exports of wheat and meslin – of LVL 8.6 million (EUR 12.2 million) or by 34.7%.The largest part of wheat and meslin was exported to Saudi Arabia – LVL 11.2 million (EUR 16.0 million), Netherlands – LVL 7.6 million (EUR 10.8 million), Iran – LVL 4.9 million (EUR 7.0 million), and Haiti – LVL 3.9 million (EUR 5.5 million).

In comparison with September, the most important changes in exports in October 2013 were following:

  • exports of machinery and mechanical appliances; electrical equipment  increased by LVL 11.4 million (EUR 16.3 million) or by 13.5%;
  • exports of food products rose by LVL 11.3 million (EUR 16.1 million) or by 19.1%;
  • exports of chemical and allied industries went up by LVL 5.1 million (EUR 7.2 million) or by 11.7%;
  • exports of base metals and articles of base metals dropped by LVL 8.6 million (EUR 12.3 million) or by 12.6%;

In comparison with September, the most important changes in imports in October 2013 were following:

  • imports of base metals and articles of base metals rose by LVL 10.2 million (EUR 14.5 million) or by 15.1%;
  • imports of chemical and allied industries grew by LVL 6.9 million (EUR 9.8 million) or by 10.5%;
  • imports of vegetable products went up by LVL 4.7 million (EUR 6.7 million) or by 19.3%;
  • imports of mineral products declined by LVL 4.5 million (EUR 6.4 million) or by 3.3%.

In October 2013, the most significant share (70.6%) in Latvia’s exports was taken by the dispatches to the EU, followed by the exports to the CIS countries (16.5%). Main export partners were Lithuania (17.7% of total export), Estonia (12.2%), Russia (11.9%), Poland (6.6%) and Germany (6.5%).

Whereas the most significant share in Latvia’s imports was occupied by the arrivals from the EU countries (79.8%), followed by the imports from CIS countries (11.7%). Major import partners were Lithuania (20.3% of total import), Germany (10.5%), Poland (9.7%), Estonia (8.6%) and Russia (8.6%).

Changes of main commodities in Latvia’s exports in October 2013, at current prices

 

thousand LVL

thousand EUR

% of

total

% (+, -) over

October 2012

September  2013

average of previous 12 months

Total

690 883

983 037

100

-0.9

+8.4

+16.8

 

wood and articles of wood; wood charcoal

103 881

147 810

15.0

+15.2

+3.8

+13.0

 

electrical machinery and equipment

64 924

92 379

9.4

+0.9

+15.8

+11.5

 

mineral fuels, mineral oils and products of their distillation

60 524

86 118

8.8

-7.5

-5.3

+26.3

 

beverages, spirits and vinegar

40 823

58 086

5.9

+0.1

+24.5

+47.0

 

cereals

39 324

55 954

5.7

-11.1

+43.5

+59.9

 

machinery and mechanical appliances

31 353

44 611

4.5

-12.1

+9.0

-2.9

 

articles of iron or  steel

24 396

34 712

3.5

+29.1

+14.1

+37.3

 

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

22 869

32 539

3.3

-18.9

+13.0

-1.2

 

pharmaceutical products

21 606

30 742

3.1

+8.0

+14.7

+32.1

 

iron and steel

17 789

25 311

2.6

-58.3

-47.0

-48.4

The greatest influence on the rise in exports of iron and steel in October 2013, as compared to the October 2012, was applied by the increase in exports of railway and tramway track construction material of iron and steelof LVL 3.4 million (EUR 4.8 million) or 16.9 times (mainly to Lithuania).

While rapid reduction in exports of iron and steel was caused by the decline in exports of bars and rods of iron and non-alloy steelof LVL 23.0 million (EUR 32.8 million) or by 93.4%.

Changes of main commodities in Latvia’s imports in October 2013, at current prices

 

thousand LVL

thousand EUR

% of

total

% (+, -) over

October 2012

September  2013

average of previous 12 months

Total

794 417

1 130 353

100

-7.9

+5.3

+7.6

 

mineral fuels, mineral oils and products of their distillation

127 813

181 862

16.1

-8.1

-3.3

+3.6

 

electrical machinery and equipment

81 714

116 269

10.3

-1.4

+0.3

+16.0

 

machinery and mechanical appliances

61 386

87 344

7.7

-26.9

+5.0

-6.4

 

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

55 155

78 478

6.9

-19.1

+17.3

+10.8

 

iron and steel

34 059

48 462

4.3

-14.5

+32.3

+7.7

 

plastics and articles thereof

32 336

46 011

4.1

+6.2

+15.0

+13.3

 

pharmaceutical products

31 744

45 167

4.0

+15.4

+17.2

+19.2

 

articles of iron or  steel

24 541

34 918

3.1

+13.4

+3.1

+27.4

Due to the rise in imports of medicaments – of LVL 0.7 million (EUR 1.1 million) or 3.5% – the imports of pharmaceutical products in October 2013 increased, as compared to October 2012.While diminish in the imports of machinery and mechanical appliances was affected by the decline in the imports of computers and units of LVL 5.0 million (EUR 7.1 million) or 37.4%.

 

More information on Latvia’s foreign trade by month and quarter in country group and commodity group breakdown is available in the CSB database.

 

More information:
Foreign Trade Statistics Methodology, Analysis and Dissemination Section
Lilita Laganovska
Tel: +371 67366604



[1] Data on January and July 2013 have been specified.