Press Release

In March foreign trade turnover of Latvia was 11.6 % larger than a year ago

Provisional data of the Central Statistical Bureau show that in March 2019 the foreign trade turnover of Latvia amounted to EUR 2.46 billion, which at current prices was 11.6 % larger than a year ago, of which the exports value of goods was 12 % higher, but imports value of goods – 11.2 % higher. In March, Latvia exported goods in the amount of EUR 1.09 billion, but imported – in the amount of EUR 1.36 billion. Compared to March 2018, foreign trade balance has improved slightly as exports in total foreign trade amount increased from 44.3 % to 44.4 %.

Over the first quarter of this year, the foreign trade turnover of Latvia at current prices reached EUR 6.58 billion – EUR 241.6 million or 3.8 % more than in the corresponding period of 2018. The exports value constituted EUR 3.01 billion (an increase of EUR 117.3 million or 4.1 %), whereas the imports value – EUR 3.57 billion (an upturn of EUR 124.3 million or 3.6 %).

Calendar and seasonally adjusted data show that, compared to March 2018, in March 2019 the exports value at current prices went up by 13 % and the imports value – by 12 %, whereas, compared to the previous month, the exports value increased by 4.2 % and the imports value – by 8.5 %.

Main changes in exports in March 2019, compared to March 2018:

  • exports of vegetable products up by EUR 47.3 million or 2.6 times,
  • exports of wood and articles of wood up by EUR 13.5 million or 7.0 %,
  • exports of prepared foodstuffs up by EUR 11.4 million or 14.0 %,
  • exports of basic metals and articles of basic metals up by EUR 9.6 million or 9.7%,
  • exports of products of the chemical and allied industries up EUR 7.6 million or 10.4 %,
  • exports of optical instruments and apparatus; clocks and watches, musical instruments down by EUR 5.7 million or 24.2 %.

Main changes in imports in March 2019, compared to March 2018:

  • imports of vehicles and associated transport equipment up by EUR 126.1 million or 2.1 time, 
  • imports of prepared foodstuffs up by EUR 11.1 million or 11.2 %,
  • imports of wood and articles of wood up by EUR 9 million or 20 %,
  • imports of miscellaneous manufactured articles up by EUR 7.7 million or 25.5 %,
  • imports of mineral products down by EUR 37.1 million or 32.8 %.

In March, the main export partners of Latvia in trade with EU countries were Lithuania (15.2 % of total exports), Estonia (11.7 %), Sweden (8.5 %) and Germany (6.9 %), whereas the main import partners were Lithuania (16.3 % of total imports), Germany (10.2 %), Poland (8.9 %) and Estonia (7.8 %). In trade with third countries Russia was the main export partner – its share in total Latvian exports in March accounted for 7.7 %, whereas Canada was the main import partner with 9.4 % in total imports.

In March 2019, compared to March 2018, share of the European Union countries reduced both in total exports and imports value – by 1.4 and 3.4 percentage points, respectively. Drop in share of CIS countries comprised 1.5 percentage points in exports and 4.2 percentage points in imports.

Foreign trade of Latvia by country groups in March 2019,
(at current prices)

 

Exports

Imports

 

million EUR

% of total

changes as %, compared to March 2018

million EUR

% of total

changes as %, compared to March 2018

Total

1 091.3

100

12.0

1 364.6

100

11.2

European Union countries

795.6

72.9

9.9

996.1

73.0

6.3

euro area countries

518.0

47.5

5.7

732.2

53.7

8.5

CIS countries

127.8

11.7

-1.0

121.2

8.9

-24.4

other countries

167.9

15.4

38.2

247.3

18.1

91.2

 

As exports value of goods in March 2019 exceeded imports value of goods, foreign trade balance of Latvia was positive with 130 partner countries. It was negative in trade with 40 countries.

Balance of foreign trade of Latvia
(difference in export and import values of goods, million EUR)

Graph - Balance of foreign trade of Latvia

The rise in the exports of cereals in March 2019, as compared to March 2018, was facilitated by an increase in the exports of wheat and meslin by EUR 41.5 million or 8.9 times. In turn, exports of iron and steel dropped as exports of waste and scrap of cast iron decreased by EUR 6.4 million or 43.1 %.

Main commodities in exports of Latvia in March 2019
(at current prices)

 

Thousand EUR

As % of

total

Changes as %, compared to

March 2018

February 2019

average of previous 12 months

Total

1 091 298

100

12.0

13.8

5.7

wood and articles of wood; wood charcoal

205 575

18.8

7.0

8.3

6.3

electrical machinery and equipment

109 945

10.1

1.6

11.2

4.4

machinery and mechanical appliances

66 128

6.1

5.5

28.6

-15.7

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

62 324

5.7

4.7

12.5

6.0

cereals

51 323

4.7

6.9 times

2.2 times

84.3

iron and steel

45 885

4.2

-1.0

11.9

15.5

beverages, spirits and vinegar

45 647

4.2

22.3

-1.2

-14.1

mineral fuels, mineral oils and products of their distillation

41 961

3.8

11.4

21.4

7.6

articles of iron and steel

41 376

3.8

20.3

15.3

20.8

pharmaceutical products

39 169

3.6

3.4

3.9

4.9

 

Rise of imports in commodity group "aircraft, spacecraft, and parts thereof” in March 2019, compared to March 2018, was affected by purchase of aircrafts – increase of EUR 125.8 million, but imports of mineral fuels, mineral oils and products of their distillation fell as imports of natural gas in gaseous state reduced by EUR 41 million or 96.4 %.

 

Main commodities in imports of Latvia in March 2019
(at current prices)

 

Thousand EUR

As % of

total

Changes as %, compared to

March 2018

February 2019

average of previous 12 months

Total

1 364 642

100

11.2

24.1

5.6

aircraft, spacecraft and parts thereof

129 439

9.5

41.8 times

45.8 times

3.8 times

electrical machinery and equipment

128 112

9.4

9.9

8.4

-3.1

machinery and mechanical appliances

125 386

9.2

-9.2

17.2

-16.7

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

112 380

8.2

-1.2

13.4

0.9

mineral fuels, mineral oils and products of their distillation

72 436

5.3

-33.6

-2.7

-37.2

pharmaceutical products

61 372

4.5

20.5

28.4

23.2

plastics and articles thereof

55 477

4.1

10.4

14.4

6.6

wood and articles of wood; wood charcoal

53 723

3.9

19.9

7.4

8.3

iron and steel

50 790

3.7

-19.5

9.1

-8.4

beverages, spirits and vinegar

43 381

3.2

14.6

2.9

-11.9

 

Media requests:
Communication Section

E-mail: media@csb.gov.lv
Phone: +371 67366989, +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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