Foreign trade of Latvia in December 2007

Compared to November 2007, the value of exports in current prices in December 2007 decreased by 10.8% or 39.8 mln lats, but in comparison with December 2006 it increased by 12.9 % or 37.4 mln lats, reaching 328.0 mln lats, according to Central Statistical Bureau data.

However, the value of imports in current prices in December 2007 was 8.4% or 54.3 mln lats lower compared to November 2007, but in comparison with December 2006 the decrease comprised 6.2% or 39.5 mln lats, reaching 593.0 mln lats.

The total foreign trade turnover in December 2007 was 0.2% or 2.1 mln lats lower than in the corresponding period of the previous year and its value was as high as 921.0 mln lats.

The value of exports in current prices in 2007 reached 4025.2 mln lats – more by 732.0 lats or 22.2% compared to 2006.

However, the value of imports in current prices in 2007 was more by 1342.5 lats or 21.0% compared to 2006 and reached 7721.0 mln lats.

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¹⁾ Data on January, May, June, July and September 2007 have been revised.

Latvia’s foreign trade in December 2007

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¹) This group includes useful minerals, oil and oil products, natural gas and electricity.

In December 2007, in comparison with December 2006 the value of the one of most important commodity in the exports of base metals and articles of base metals increased by 66.2%. Exports of products of the chemical and allied
industries increased by 48.3%, exports of agricultural and food products - by 38.8%, exports of plastics and articles thereof; rubber and articles thereof – by 5.0%, exports of pulp of wood; paper and paperboard – by 3.2%. But the exports of textiles and textile articles have decreased, by 27.1%, exports of wood and articles of wood – by 7.6%, exports of machinery and mechanical appliances; electrical equipment – by 6.2%, as well as exports of mineral products – by 3.8%.

In December 2007, in comparison with November 2007 the value of exports of raw hides, leather, furskins and articles thereof increased by 32.5%, of fats and oils – by 28.3%, of base metals and articles of base metals – by 12.3%. The exports of pulp of wood; paper and paperboard decreased by 30.1%, exports of textiles and textile articles – by 28.1%, exports of plastics and articles thereof; rubber and articles thereof – by 23.6%, exports of wood and articles of wood – by 21.0%, exports of mineral products – by 16.5%.

In December 2007, in comparison with December 2006 the value of the most important commodity in the imports increased: for fats and oils – by 48.2%, for live animals and animal products – by 31.1%, for mineral products – by 28.9%. But the imports of machinery and mechanical appliances; electrical equipment decreased by 21.2%, imports of wood and articles of wood – by 14.4%, imports of textiles and textile articles - by 10.7%, imports of transport vehicles – by 10.5%, imports of products of the chemical and allied industries – by 9.3%, imports of plastics and articles thereof – by 3.1%.

In December 2007, in comparison with November 2007 the value of imports of mineral products increased by 7.9% and of agriculture and food products – by 1.3%. Imports of textiles and textile articles decreased by 26.7%, of plastics and articles thereof; rubber and articles thereof – by 17.8%, of wood and articles of wood – by 16.9%, of transport vehicles - by 13.4%, of products of the chemical and allied industries – by 13.3%, of machinery and mechanical appliances; electrical equipment – by 11.4%.

Main partners of Latvia’s foreign trade

Prepared by the Foreign Trade Statistics Section
tel. 7366604
Lilita Laganovska