In October exports value rose by 2.8%

10.12.2015

Provisional data of the Central Statistical Bureau (CSB) show that in October 2015 compared to September exports value of goods at current prices grew by 2.8%, but imports value of goods – reduced by 0.04%. In October Latvia exported goods in amount of 992.8 mln euros, but imported - in amount of 1 081.5 mln euros. Foreign trade balance slightly improved as exports in total foreign trade value increased to 47.9% (in September 2015 – 47.2%).

Latvia’s foreign trade, mln euros

Data source: Central Statistical Bureau of Latvia

Notes: data on January and July 2015 have been revised

Main changes in exports in October, compared to September:

  • exports of wood and articles of wood grew by 18.6 mln euros or 12.9%,
  • exports of machinery and mechanical appliances; electrical equipment rose by 17.3 mln euros or 12.4%,
  • exports of prepared foodstuffs rose by 12.2 mln euros or 16.5%,
  • exports of basic metals and articles of basic metals fell by 8.7 mln euros or 9.8%,
  • exports of vegetable products decreased by 8.3 mln euros or 5.9%.

Main changes in imports in October, compared to September:

  • imports of products of the chemical and allied industries declined by 24.2 mln euros or 19.7%,
  • imports of basic metals and articles of basic metals dropped by 6.8 mln euros or 7.9%,
  • imports of prepared foodstuffs reduced by 6.2 mln euros or 6.4%,
  • imports of machinery and mechanical appliances; electrical equipment grew by 32.3 mln euros or 15.1%,
  • imports of vehicles, aircraft, vessels and associated transport equipment increased by 7.0 mln euros or 7.6%.

In October main export partners in trade with the EU countries were Lithuania (17.3% of total export), Estonia (10.1%), Germany (7.3%) and Poland (6.1%); main import partners were Lithuania (17.0% of total import), Germany (11.9%), Poland (10.8%) and Estonia (8.0%).

Foreign trade of Latvia by country group in October 2015, at current prices

 

Exports

Imports

 

mln euros

% of

total

Changes over September 2015

mln euros

% of

total

Changes over

September 2015

Total

992.8

100

2.8

1 081.5

100

-0.04

Member States of the European Union

734.2

73.9

5.5

849.2

78.5

-2.3

   Euro area countries

507.8

51.1

5.0

614.4

56.8

-2.0

CIS countries

115.8

11.7

9.5

133.4

12.3

13.9

Other countries

142.8

14.4

-12.9

98.9

9.2

3.4

Main partner in trade with third countries was Russia, share of which in total exports of Latvia in October comprised 8.3 %, but in imports – 9.6 %.

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

 

thsd euros

% of

total

Changes as % over

October 2014

September 2015

average of previous 12 months

Total

992 846

100

-6.5

2.8

14.6

wood and wood products; wood charcoal

162 712

16.4

9.0

12.9

13.5

electrical machinery and equipment

104 957

10.6

-15.2

23.6

-4.8

mineral fuels, mineral oils and products of their distillation

68 532

6.9

-24.2

5.2

11.4

cereals

59 241

6.0

-29.2

-32.9

2.1 times

machinery and mechanical appliances

52 563

5.3

1.0

-4.9

2.6

oil seeds, oleaginous fruits, industrial or medicinal plants

50 565

5.1

7.9 times

46.2

7.8 times

beverages, spirits and vinegar

48 881

4.9

-37.5

24.9

31.1

articles of iron and steel

35 683

3.6

4.6

7.6

27.4

vehicles other than railway or tramway

34 470

3.5

-24.2

-16.8

-8.7

iron and steel

28 342

2.9

-10.3

-29.3

-9.2

pharmaceutical products

26 900

2.7

7.0

-2.4

0.9

Increase in exports of oil seeds, oleaginous fruits, industrial or medicinal plants in October 2015, as compared to October 2014 was affected by growth in exports of rape and colza seeds of 35.7 mln euros or 7.7 times. But exports of beverages, spirits and vinegar reduced as exports of spirits dropped by 21.6 mln euros or 35.8 %.

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

 

thsd euros

% of

total

Changes as % over

October 2014

September 2015

average of previous 12 months

Total

1 081 535

100

-8.6

-0.04

2.1

electrical machinery and equipment

139 958

12.9

-4.0

24.9

7.2

mineral fuels, mineral oils and products of their distillation

120 513

11.1

-32.1

0.8

-7.1

machinery and mechanical appliances

106 332

9.8

10.0

4.3

5.9

vehicles other than railway or tramway

86 659

8.0

7.4

6.5

14.7

plastics and articles thereof

42 337

3.9

-11.9

-0.2

-2.6

pharmaceutical products

35 246

3.3

-6.4

-34.7

-18.0

beverages, spirits and vinegar

34 070

3.2

-25.5

-9.7

19.3

wood and wood products; wood charcoal

32 843

3.0

3.4

8.4

7.2

iron and steel

31 489

2.9

-27.3

-9.6

-16.7

Increase of imports of machinery and mechanical appliances; electrical equipment in October 2015, as compared to October 2014, was affected by the increase in imports of various machinery for lifting, transportation, loading and unloading by 2.5 mln euros or 2.9 times. In turn, drop in imports of mineral fuels, mineral oils and products of their distillation was mostly influenced by decrease in imports of diesel oil of 26.4 mln euros or 28.7%.

More information on foreign trade of Latvia by month and quarter, by country group and commodity group is available in the CSB data base section Foreign Trade.

 

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Information and Communication Section
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More information on data:

Foreign trade statistics methodology, analysis and dissemination section
Lilita Laganovska
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Tel. +371 67366604