Foreign trade down 10.6% on year in Latvia

Provisional data published on June 9 by the Central Statistical Bureau (CSB) show that in April 2023 the foreign trade turnover of Latvia amounted to EUR 3.5 billion, which at current prices was 10.6 % less than a year ago.

The exports value of goods was 11.9 % lower, but imports value of goods – 9.6 % lower. In April Latvia exported goods in the amount of EUR 1.52 billion, but imported – in the amount of EUR 1.97 billion.

Compared to April 2022, foreign trade balance has worsened as exports in total foreign trade amount decreased from 44.2 % to 43.6 %. It should be taken into account that the data on foreign trade in goods are reflected in actual prices and are calculated on the basis of the value of goods in euro and not their physical quantity.

During the four months of this year foreign trade turnover of Latvia at current prices reached EUR 14.36 billion – EUR 131.6 million or 0.9 % less than in the corresponding period of the previous year. The exports value constituted EUR 6.58 billion (a drop of EUR 39 million or 0.6 %), whereas the imports value comprised EUR 7.78 billion (a fall of EUR 92.6 million or 1.2 %).

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The main exports partners in April were Lithuania (17.9 % of total exports), Estonia (11.3 %), Germany (6.7 %) and Sweden (5.8 %), whereas the main imports partners were Lithuania (18.2 % of total imports), Germany (10.5 %), Poland (10.2 %) and Canada (9.1 %).

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In April 2023 foreign trade balance of Latvia was positive with 125 partner countries, as exports value of goods exceeded imports value of goods. It was negative in trade with 45 countries.

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