Press Release

In April foreign trade turnover of Latvia was 21.4 % less than a year ago

Provisional data of the Central Statistical Bureau show that in April 2020, due to epidemiological crisis caused by Covid-19, the foreign trade turnover of Latvia amounted to EUR 1.92 billion, which at current prices was 21.4 % less than a year ago, of which the exports value of goods dropped by 13.9 %, but imports value of goods – by 27.4 %. In April Latvia exported goods in the amount of EUR 927.7 million, but imported – in the amount of EUR 992.4 million. Compared to April 2019, foreign trade balance has improved slightly as exports in total foreign trade amount increased from 44.1 % to 48.3 %.

During first four months of this year foreign trade turnover of Latvia at current prices reached EUR 8.82 billion – EUR 478.7 million or 5.1 % less than in the corresponding period of the previous year. The exports value constituted EUR 4.17 billion (a drop of EUR 35.2 million or 0.8 %), whereas the imports value comprised EUR 4.65 billion (a fall of EUR 443.5 million or 8.7 %).

Calendar and seasonally adjusted data show that, compared to April 2019, in April 2020 the exports value at current prices went down by 14.1 % and the imports value by 27.1 %, whereas, compared to the previous month, the exports value went down by 13.7 % ,but the imports value – by 19.2 %.

Main changes in exports in April 2020, compared to April 2019:

Main changes in imports in April 2020, compared to April 2019:

In April 2020, compared to March, epidemiological crisis caused by coronavirus Covid-19 had affected trade with certain specific goods. Imports of protective oral-nasal masks has risen from EUR 1.2 million to EUR 11.3 million. They mainly were imported from China (88.9 % or EUR 10 million).

In turn, both exports and imports of medicines have decreased. Exports fell by EUR 5.4 million or 13.9 %, but imports – by EUR 9.6 million or 18.3 %.

In April, the main export partners of Latvia in trade with EU countries were Lithuania (15.1 % of total exports), Estonia (12.2 %), Sweden (7.3 %) and Germany (7.2 %), whereas the main import partners were Lithuania (18.2 % of total imports), Poland (11.3 %), Germany (9.9 %) and Estonia (7.9 %). Russia was the main partner in trade with third countries; its share in total Latvian exports in April accounted for 8.6 %, whereas in imports – for 7 %.

In April 2020, compared to April 2019, share of the European Union countries in total exports value increased by 0.6 percentage points, but in imports value – by 1.9 percentage points. Share of CIS countries both in exports and in imports rose by 0.9 percentage points.

Foreign trade of Latvia in April 2020 by country group
(at current prices)

 

Exports

Imports

 

million EUR

% of

total

changes as %, compared to April 2019

million EUR

% of

total

changes as %, compared to April 2019

Total

927.7

100

-13.9

992.4

100

-27.4

European Union countries*

629.1

67.8

-13.1

758.2

76.4

-25.6

euro area countries

449.4

48.4

-15.7

550.0

55.4

-28.7

CIS countries

114.2

12.3

-6.8

106.3

10.7

-20.6

other countries

184.4

19.9

-20.0

127.9

12.9

-40.4

*The United Kingdom is not included in the European Union.

In April 2020, foreign trade balance of Latvia was positive with 112 partner countries, as exports value of goods exceeded imports value of goods. It was negative in trade with 44 countries.

Balance of foreign trade of Latvia
(difference between value of goods exports and imports, million euros

Balance of foreign trade of Latvia

The rise in exports of articles of iron or steel in April 2020, as compared to April 2019, was mostly facilitated by an increase in exports of metal structures by EUR 1 million or 9.1 %. In turn, reduction in exports of mineral fuels, mineral oils and products of their distillation was mostly influenced by decrease of exports of electricity by EUR 10.5 million or 74.4 %.

Main commodities in exports of Latvia in April 2020
(at current prices)

 

thousand EUR

% of

total

Changes as %, compared to

April 2019

March 2020

average of previous 12 months

Total

927 689

100

-13.9

-15.5

-14.5

wood and articles of wood; wood charcoal

174 469

18.8

-15.9

-3.9

-3.1

electrical machinery and equipment

102 688

11.1

-4.4

-10.9

-12.9

machinery and mechanical appliances

61 829

6.7

-1.2

-0.7

-5.7

pharmaceutical products

39 022

4.2

-13.5

-17.1

-2.2

articles of iron or steel

37 526

4.0

7.1

-7.0

-0.1

iron and steel

34 774

3.7

-22.6

-21.1

0.6

beverages, spirits and vinegar

32 044

3.5

-12.7

-28.7

-41.6

furniture, other furnishing articles; prefabricated buildings

31 548

3.4

-0.1

-14.3

-6.5

mineral fuels, mineral oils and products of their distillation

30 010

3.2

-44.4

-28.6

-35.1

plastics and articles thereof

29 323

3.2

-4.2

-0.3

-1.2


In April 2020, compared to April 2019, a drop was observed in all main imports commodities groups. Reduction in imports of vehicles and associated transport equipment was mostly affected by drop in imports of passenger cars by EUR 43.2 million or 75.2 %. Imports of mineral fuels, mineral oils and products of their distillation fell as imports of diesel oil decreased by EUR 26.3 million or 49.3 %.

Main commodities in imports of Latvia in April 2020
(at current prices)

 

thousand EUR

% of

total

Changes as %, compared to

April 2019

March 2020

average of previous 12 months

Total

992 370

100

-27.4

-24.7

-24.7

machinery and mechanical appliances

119 067

12.0

-11.5

-7.7

-5.6

electrical machinery and equipment

108 394

10.9

-16.8

-21.3

-24.5

mineral fuels, mineral oils and products of their distillation

55 329

5.6

-43.5

-22.8

-50.1

plastics and articles thereof

52 147

5.3

-9.9

-10.0

-3.1

pharmaceutical products

50 237

5.1

-28.8

-22.0

-7.7

iron and steel

43 512

4.4

-31.7

2.2

-2.6

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

43 082

4.3

-62.5

-59.8

-60.1

wood and articles of wood; wood charcoal

40 599

4.1

-19.5

-16.6

-12.1

beverages, spirits and vinegar

30 070

3.0

-20.1

-38.9

-38.5

articles of iron or steel

26 360

2.7

-23.5

-25.0

-20.9

More information on the foreign trade of Latvia by month and quarter, as well as by country group and commodity group is available in the “Foreign trade” section of the CSB database.

Media requests:
Communication Section

E-mail: media@csb.gov.lv
Phone: +371 67366989, +371 27880666

More information on data:
Ieva Jansone
Foreign Trade Statistics Section
E-mail: Ieva.Jansone@csb.gov.lv
Phone: +371 67366721

 

 

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