Press Release

In May, foreign trade turnover in goods was 9.6 % higher than last year

Provisional data of the Central Statistical Bureau (CSB) show that in May 2018 foreign trade turnover of Latvia amounted to EUR 2.32 billion, at current prices constituting 9.6 % more than in May 2017, of which exports value of goods rose by 8.5 % and imports value of goods by 10.4 %. In May 2018, Latvia exported goods in the amount of EUR 1.05 billion and imported in the amount of EUR 1.28 billion. Compared to May 2017, foreign trade balance worsened slightly, as exports in the total foreign trade amount fell from 45.5 % to 45.0 %.

Data on July, August, September 2017 and February 2018 have been revised

 

Calendar and seasonally adjusted data at current prices show that, compared to May 2017, in May 2018 exports value went up by 7.1 % and imports value by 10.3 %, whereas, compared to the previous month, exports value increased by 4.4 %, and imports value by 6.6 %.

Main changes in exports in May 2018, compared to May 2017:

  • exports of wood and articles of wood up by EUR 29.2 million or 17.4 %;
  • exports of machinery and mechanical appliances; electrical equipment up by EU 28.3 million or 17.0 %;
  • exports of basic metals and articles of basic metals up by EUR 26.6 million or 32.7 %;
  • exports of prepared foodstuffs up by EUR 21.2 million or 26.2 %;
  • exports of motor vehicles and parts and accessories thereof up by EUR 16.8 million or 20.1 %;

Main changes in imports in May 2018, compared to May 2017:

  • imports of machinery and mechanical appliances; electrical equipment up by EUR 72.7 million or 30.4 %;
  • imports of prepared foodstuffs up by EUR 20.6 million or 20.1 %;
  • imports of basic metals and articles of basic metals up by EUR 19.2 million or 19.1 %;
  • imports of wood and articles of wood up by EUR 13.9 million or 34.1 %;
  • imports of mineral products down by EUR 11.3 million or 10.2 %.

In May, Lithuania (16.4 % of total exports), Estonia (11.8 %), Sweden (7.0 %) and Germany (6.6 %) were the main export partners of Latvia in trade with EU countries, and Lithuania (18.1 % of total imports), Germany (10.6 %), Poland (8.7 %) and Estonia (8.2 %) were the main import partners.

Russia was the main partner in the trade with the third countries; in April its share in the total Latvian exports accounted for 9.0 % and in imports for 6.2 %.

Foreign trade of Latvia in April 2018 by country group
(at current prices)

 

Exports

Imports

 

million euros

% of total

changes as %, compared to May 2017

million euros

% of total

changes as %, compared to May 2017

Total

1 047.0

100

8.5

1 277.5

100

10.4

European Union countries

756.6

72.3

6.2

974.7

76.3

3.5

euro area countries

511.0

48.8

5.3

729.6

57.1

3.8

CIS countries

132.5

12.7

12.2

122.9

9.6

11.6

other countries

157.9

15.0

17.9

179.9

14.1

70.5

 

In May 2018, compared to May 2017, the rise in the exports of machinery and mechanical appliances; electrical equipment was facilitated by the increase in exports of turbojets, turbopropellers and other gas turbines of EUR 38.1 million. Exports of pharmaceutical products fell as exports of medicaments dropped by EUR 8.2 million or 22.9 %.

Main commodities in exports of Latvia in May 2018
(at current prices)

 

thousand euros

% of total

Changes as %, compared to

May 2017

April 2018

average of previous 12 months

Total

1 046 968

100

8.5

6.2

6.3

wood and articles of wood; wood charcoal

197 824

18.9

17.4

6.5

20.9

electrical machinery and equipment

97 476

9.3

-13.7

10.7

-7.1

machinery and mechanical appliances

96 673

9.2

82.6

43.4

34.9

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

59 384

5.7

3.1

0.7

8.2

beverages, spirits and vinegar

54 945

5.2

38.8

36.6

8.4

iron and steel

50 608

4.8

57.0

38.3

34.3

mineral fuels, mineral oils and products of their distillation

41 344

3.9

2.2

2.8

0.7

articles of iron or steel

34 865

3.3

8.5

-3.7

6.6

pharmaceutical products

32 506

3.1

-17.2

-0.8

-9.4

furniture; bedding, mattresses, cushions and similar stuffed furnishings; prefabricated buildings

30 577

2.9

11.9

9.1

3.8

 

In May 2018, compared to May 2017, the rise in the imports of machinery and mechanical appliances; electrical equipment in was influenced by the increase in imports of turbojets, turbopropellers and other gas turbines of EUR 61.1 million. In the same time, decline in imports of mineral fuels, mineral oils and products of their distillation was mainly affected by the drop in imports of diesel oil of EUR 11.8 million or 17.8 %.

Main commodities in imports of Latvia in May 2018
(at current prices)

 

Thousand euros

% of total

Changes as %, compared to

May 2017

April 2018

average of previous 12 months

Total

1 277 525

100

10.4

11.6

7.2

machinery and mechanical appliances

192 426

15.1

73.6

51.7

50.5

electrical machinery and equipment

118 963

9.3

-7.0

0.4

-9.3

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

106 876

8.4

-1.8

4.2

3.2

mineral fuels, mineral oils and products of their distillation

93 273

7.3

-12.2

16.6

-8.8

iron and steel

61 244

4.8

41.9

14.4

26.4

beverages, spirits and vinegar

59 255

4.6

45.9

53.0

27.2

plastics and articles thereof

56 440

4.4

-0.02

4.4

10.4

wood and articles of wood; wood charcoal

54 342

4.3

34.2

8.8

33.8

pharmaceutical products

51 098

4.0

3.5

-0.4

1.6

articles of iron or steel

32 880

2.6

4.2

17.4

13.1

 

Over the first five months of this year, Latvian foreign trade turnover at current prices reached EUR 10.76 billion – EUR 846.8 million or 8.5 % more than in the corresponding period a year ago. Exports value constituted EUR 4.92 billion (rise of EUR 416.8 million or 9.3 %), while imports value EUR 5.85 billion (increase of EUR 430.0 million or 7.9 %).

 

Media requests:
Communication Section

E-mail: media@csb.gov.lv
Phone: +371 67366621, +371 27880666

More information on data:
Lilita Laganovska
Foreign Trade Statistics Methodology, Analysis and Dissemination Section
E-mail:
Lilita.Laganovska@csb.gov.lv
Phone: +371 67366604

 

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