Exports fall 3.2% on year in July

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In the first seven months of this year, Latvia exported goods worth a total of €5.639b, which is a decrease of 3.2% or €185.3m on year.

Latvia imported goods worth €6.777b in the first seven months of 2016, which was an annual decrease of 5.8% or €418.7m on year.

That is according to preliminary data by the Central Statistical Bureau published Friday.

Compared to June, in July 2016 Latvian foreign trade turnover at current prices decreased 2%, as the export value of goods dropped by 3% and the import value fell by 1.1%.

In July, Latvia exported goods in the amount of €790.6m, and imported goods in the amount of €973.5m. The foreign trade balance worsened, as exports in the total foreign trade value dropped to 44.8% (in June 2016 – 45.3%).

In July, the main export partners in trade with the EU countries were Lithuania (17.6% of total exports), Estonia (12.5%), Germany (6.9%) and the United Kingdom (5.8%), whereas the main import partners were Lithuania (17.5% of total imports), Germany (11.9%), Poland (11.8%) and Estonia (8.4%).

Russia was the main third-country trade partner with its share in July accounting for a total of 7.8% in exports and 6.7% in imports.

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