Latvia's foreign trade figures up slightly on year

Take note – story published 1 year and 1 month ago

Provisional data published by the Central Statistical Bureau (CSB) April 11 show that in February 2023 the foreign trade turnover of Latvia amounted to EUR 3.36 billion, which at current prices was 1.4 % larger than a year ago.

The export value of goods was 3 % higher, but the import value of goods was 0.1 % higher. In February Latvia exported goods in the amount of EUR 1.57 billion, but imported – in the amount of EUR 1.79 billion.

Compared to February 2022, the foreign trade balance improved slightly as exports in total foreign trade amount increased from 46 % to 46.7 %.

"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," pointed out the CSB.

During the first two months of this year foreign trade turnover of Latvia at current prices reached EUR 6.84 billion – EUR 414.2 million or 6.4 % more than in the corresponding period of 2022. The exports value constituted EUR 3.2 billion (a growth of EUR 179.7 million or 5.9 %), whereas the imports value comprised EUR 3.64 billion (a rise of EUR 234.5 million or 6.9 %).

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The main export partners in February were Lithuania (17.3 % of total exports), Estonia (11.7 %), Germany (7.5 %) and Sweden (7.3 %), whereas the main import partners were Lithuania (20.6 % of total imports), Germany (12.3 %), Poland (10.5 %) and Estonia (8.5 %).

In February 2023 foreign trade balance of Latvia was positive with 114 partner countries, as exports value of goods exceeded imports value of goods. It was negative in trade with 50 countries.

Foreign trade of Latvia with Belarus, Russia and Ukraine in February 2023

 

Exports

Imports

thousand EUR

% of

total

changes as %, compared to

thousand EUR

% of

total

changes as %, compared to 

February
2022

January
2023

February
2022

January
2023

Total

1 570 366

100

3.0

-3.6

1 794 530

100

0.1

-2.8

Belarus

14 002

0.9

-2.7

-18.1

15 048

0.8

-47.2

-0.2

Russian Federation

97 217

6.2

21.3

14.5

54 394

3.0

-61.0

-9.8

Ukraine

21 984

1.4

-25.8

-20.6

22 652

1.3

26.9

8.6

 

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