CSB Central Statistical Bureau : In November, foreign trade turnover of Latvia has reduced by 3.8 %

Provisional data compiled by the Central Statistical Bureau of Latvia (CSB) show that, compared to October, foreign trade turnover of Latvia at current prices in November 2015 dropped by 3.8 %, of which exports value of goods declined by 5.8 % and imports value - by 2.0 %.In November, the amount of goods exported by Latvia comprised EUR 935.3 million, while the amount imported constituted EUR 1 060.0 million. As exports in the total foreign trade dropped down to 46.9 % (in October 2015 - 47.9%), foreign trade balance declined slightly.

Latvia's foreign trade, million EUR

Data source: CSB
Notes: data on August 2015 have been specified

Main changes in exports in November, compared to October:

- exports of vegetable products dropped by EUR 33.7 million or by 25.4 %,

- exports of wood and articles of wood decreased by EUR 22.9 million or by 14.1 %,

- exports of mineral products reduced by EUR 19.8 million or by 26.9 %,

- exports of basic metals and articles of basic metals declined by EUR 7.1 million or by 8.9 %,

- exports of machinery and mechanical appliances; electrical equipment grew by EUR 17.5 million or by 11.1 %,

Main changes in imports in November, compared to October:

- imports of transport vehicles and equipment fell by EUR 13.1 million or by 13.2 %,

- imports of machinery and mechanical appliances; electrical equipment dropped by EUR 10.7 million or by 4.4 %,

- imports of textiles and textile articles reduced by EUR 9.8 million or by 21.7 %,

- imports of basic metals and articles of basic metals declined by EUR 8.4 million or by 10.7 %,

- imports of products of the chemical and allied industries grew by EUR 23.0 million or by 23.3 %,

In November, the most significant part in Latvia's exports to EU countries took exports to Lithuania (18.5 % of total exports), Estonia (11.5 %), Germany (6.5 %), and Sweden (5.4 %), whereas main imports partners were Lithuania (15.2 % of total imports), Germany (12.0 %), Poland (10.3 %), and Estonia (7.1 %).

Latvia's foreign trade in November 2015 by country group, at current prices

	Exports			Imports
	million EUR	% of total	Changes as % over October 2015	million EUR	% of total	Changes as % over October 2015
Total	935.3	100	-5.8	1 060.0	100	-2.0
European Union countries	644.4	68.9	-12.2	829.1	78.2	-2.4
Euro Area countries	450.8	48.2	-11.2	595.9	56.2	-3.0
CIS countries	114.3	12.2	-1.3	134.3	12.7	0.7
Other countries	176.6	18.9	23.6	96.6	9.1	-2.4

Russia was the key partner in Latvia's trade with third countries, comprising 8.6% in the total Latvia's exports and 9.2% in the total Latvia's imports in November.

Changes in main commodities in Latvia's exports in November 2015, at current prices

	thousand EUR	% of total	Changes as % over
			November 2014	October 2015	average of previous 12 months
Total	935 251	100	2.2	-5.8	8.5
wood and wood products; wood charcoal	139 789	14.9	3.3	-14.1	-3.2
electrical machinery and equipment	128 327	13.7	9.8	22.3	18.1
cereals	75 521	8.1	94.0	27.5	2.8 times
beverages, spirits and vinegar	51 659	5.5	-20.3	5.7	47.6
mineral fuels, mineral oils and products of their distillation	49 599	5.3	-30.6	-27.6	-16.9
machinery and mechanical appliances	46 688	5.0	-1.7	-11.2	-9.4
vehicles other than railway or tramway rolling stock, and parts and accessories thereof	41 574	4.4	5.9	20.6	10.2
pharmaceutical products	28 867	3.1	12.2	7.3	7.5
articles of iron or steel	28 753	3.1	1.6	-19.4	2.6
iron and steel	28 627	3.1	17.6	1.0	-7.4

Rise in exports of cereals in November 2015, as compared to November 2014, was caused by the increase in the exports of wheat and meslin of EUR 39.4 million or 2.2 times. Whereas due to the decline in exports of petroleum oils and oils obtained from bituminous minerals of EUR 17.1 million or 99.0 %, exports of mineral fuels, mineral oils and products of their distillation diminished.

Changes in main commodities in Latvia's imports in November 2015, at current prices

	thousand EUR	% of total	Changes as % over
			November 2014	October 2015	average of previous 12 months
Total	1 059 984	100	-2.8	-2.0	0.7
electrical machinery and equipment	130,724	12.3	-10.8	-6.6	0.2
mineral fuels, mineral oils and products of their distillation	119,267	11.3	-26.8	-1.0	-4.5
machinery and mechanical appliances	104,839	9.9	4.0	-1.4	3.2
vehicles other than railway or tramway rolling stock, and parts and accessories thereof	74 715	7.0	6.2	-13.8	-3.6
pharmaceutical products	52 933	5.0	31.8	50.2	24.2
plastics and articles thereof	41 769	3.9	0.4	-1.3	-2.8
beverages, spirits and vinegar	36 841	3.5	19.5	8.1	34.3
wood and wood products; wood charcoal	30 990	2.9	5.4	-5.6	0.9
iron and steel	27 296	2.6	-0.01	-13.3	-25.7

The rise in imports of pharmaceutical products in November 2015, as compared to the November 2014, was mainly affected by the increase in imports of medical products of EUR 5.4 thousand or 16.2 %. While drop in imports of mineral fuels, mineral oils and products of their distillation was mainly influenced by the decline in imports of diesel oil of EUR 16.1 million or 21.2 %.

More information on Latvia's foreign trade in breakdown by month and quarter, as well as by country group and commodity group is available in CSB database section 'Foreign trade '.

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More information on data:
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Lilita Laganovska
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