Positive trend recorded in foreign trade balance in April

09.06.2016

Provisional data of the Central Statistical Bureau (CSB) show that, as compared to March, in April 2016 Latvian foreign trade turnover at current prices fell by 1.5 %, as exports value of goods rose only by 0.04 % and imports value – decreased by 2.7 %. In April, Latvia exported goods in the amount of 834.2 million euros, while imported – in the amount of 998.2 million euros. As exports in the total foreign trade value increased up to 45.5 % (in March 2016 – 44.8 %), foreign trade balance improved.

Latvian foreign trade, million euros

Notes: data on April, May, and June 2015 and January 2016 have been revised

Main exports changes in April, compared to March:

-       exports of machinery and mechanical appliances; electrical equipment grew by 13.6 million euros or 10.7 %,

-       exports of mineral products increased by 6.3 million euros or 14.2 %,

-       exports of vehicles and associated transport equipment increased by 6.2 million euros or 17.3 %,

-       exports of products of the chemical and allied industries reduced by 13.5 million euros or 16.8 %,

-       exports of basic metals and articles of basic metals dropped by 6.8 million euros or 9.1%.

Main imports changes in April, compared to March:

-       imports of mineral products fell by 12.7 million euros or 14.3 %,

-       imports of vehicles and associated transport equipment decreased by 11.9 million euros or 14.5 %,

-       imports of products of the chemical and allied industries reduced by 8.7 million euros or 6.3 %,

-       imports of wood and articles of wood dropped by 5.5 million euros or 13.4%,

-       imports of machinery and mechanical appliances; electrical equipment grew by 25.3 million euros or 12.7 %.

In April, Lithuania (17.8 % of total exports), Estonia (12.6 %), Germany (6.7 %) and Poland (6.3 %) were the main export partners in trade with the EU countries, whereas Lithuania (17.6 % of total imports), Poland (11.7 %), Germany (10.4 %) and Estonia (8.5 %) were the main import partners of Latvia.

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

 

Exports

Imports

 

million euros

% of

total

Changes as % over March 2016

million euros

% of

total

Changes as % over March 2016

Total

834.2

100

0.04

998.2

100

-2.7

European Union countries

621.4

74.5

1.7

813.3

81.5

0.9

   Euro area countries

414.1

49.6

3.4

587.3

58.8

3.1

CIS countries

97.6

11.7

11.8

94.9

9.5

-15.6

Other countries

115.2

13.8

-14.8

90.0

9.0

-16.0

 

Russia was the main partner in the trade with third countries. In April the share thereof in total Latvian exports accounted for 8.2 %, and for 6.8 % in Latvian imports.

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

 

thousand euros

% of

total

Changes as % over

April 2015

March 2016

average of the previous 12 months

Total

834 186

100

-7.0

0.04

-2.2

wood and wood products; wood charcoal

160 488

19.2

-0.5

-2.1

8.9

electrical machinery and equipment

83 450

10.0

-26.0

15.6

-16.4

machinery and mechanical appliances

56 410

6.8

13.0

4.2

8.3

mineral fuels, mineral oils and products of their distillation

46 179

5.5

-15.3

13.8

-7.9

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

35 445

4.2

-18.2

6.1

-10.6

pharmaceutical products

34 107

4.1

32.5

-13.6

19.9

articles of iron or steel

32 695

3.9

13.6

16.2

19.2

beverages, spirits and vinegar

28 589

3.4

13.6

11.2

-12.5

cereals

25 399

3.0

37.1

-17.5

-30.6

furniture, other furnishing articles; prefabricated buildings

25 237

3.0

13.2

1.8

15.3

As compared to April 2015, the rise in exports of cereals had an upward impact on the exports of wheat in April 2016 – of 7.4 million euros or 14.4 times. Whereas the drop of 34.3 million euros or 74.8 % in exports of mobile telephones had downward effect on the imports of electrical machinery and equipment.

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

 

thousand euros

% of

total

Changes as % over

April 2015

March 2016

average of the previous 12 months

Total

998 157

100

-7.7

-2.7

-2.6

electrical machinery and equipment

117 964

11.8

-8.3

22.7

-0.7

machinery and mechanical appliances

107 121

10.7

7.7

3.3

5.4

mineral fuels, mineral oils and products of their distillation

73 008

7.3

-36.8

-14.9

-35.2

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

66 822

6.7

-14.2

-12.2

-15.9

pharmaceutical products

51 544

5.2

26.1

0.3

16.1

plastics and articles thereof

42 723

4.3

-5.5

4.7

4.1

wood and wood products; wood charcoal

35 095

3.5

11.4

-13.3

13.8

iron and steel

31 820

3.2

-23.3

14.3

-4.2

miscellaneous chemical products

30 188

3.0

32.4

-6.1

2.1 times

beverages, spirits and vinegar

28 290

2.8

28.3

7.4

-0.3

As compared to April 2015, the growth in imports of chemical products recorded in April 2016 was mainly caused by the increase of 4.0 million euros or 23.9 % in imports of insecticides, fungicides, herbicides, disinfectants and similar products. While the drop in imports of mineral fuels, mineral oils and products of their distillation was mostly influenced by the decrease of 26.9 million euros or 42.5 % in imports of diesel oil.

More information on Latvian foreign trade in breakdown by month and quarter, country group, and commodity group is available in the CSB database section Foreign Trade.

 

Media requests:
Beate Danusēviča, Sanda Rieksta
Information and Communication Section
media [at] csb [dot] gov [dot] lv
Phone: +371 67366924, +371 67366621, +371 27880666
www.twitter.com/csb_latvia
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More information on data:
Lilita Laganovska
Foreign Trade Statistics Methodology, Analysis and Dissemination Section
Lilita [dot] Laganovska [at] csb [dot] gov [dot] lv
Phone: + 371 67366604