In September 2024 Latvia had foreign trade turnover worth EUR 3.39 billion, which at current prices is 7.5 % lower than a year ago.
The value of exported goods reduced by 1 % and of imported goods by 12.4 %. In September Latvia exported goods worth EUR 1.56 billion, but imported goods worth EUR 1.83 billion.
Compared to September 2023, the foreign trade balance improved slightly as exports in total foreign trade increased from 43.1 % to 46.1 %.
The statistics for foreign trade in goods is shown in actual prices and calculated based on the goods' value in euros, not the physical amount or quantity.
During the first nine months of this year Latvian foreign trade turnover at current prices reached EUR 30 billion, which is EUR 1.87 billion or 5.9 % below the corresponding period of 2023. The total value of exports comprised EUR 13.78 billion (down by EUR 417.5 million or 2.9 %) and of imports EUR 16.22 billion (down by EUR 1 453.2 million or 8.2 %).
Calendar and seasonally adjusted data show that over the year (in September 2024 compared to September 2023) the value of exports reduced by 0.03 % and of imports by 13.7 % whereas, compared to the previous month, the export value went up by 1.3 %, and the import value by 0.4 %.
In September the main export partners were Lithuania (18.4 % of total exports ), Estonia (11.5 %), Germany (6.8 %) and United Kingdom (5.6 %), while Lithuania (22.9 % of total Latvian imports), Germany (11.5 %), Poland (11.2 %) and Estonia (8.9 %) were the main import partners.
In another piece of downbeat economic news, latest figures also published November 11 show that in Q3 2024, compared to Q3 2023, construction output reduced by 6.9 %. Output in the construction of buildings fell by 19.3 %, in specialised construction by 2.7 %, and in civil engineering by 0.4 %.
