Exports picked up in Latvia's foreign trade figures for September

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In September value of goods exported from Latvia was 2.5 % larger than a year ago and Lithuania remains Latvia's leading trading partner for both imports and exports, according to provisional data from the Central Statistical Bureau published November 12.

In September 2019 the foreign trade turnover of Latvia amounted to EUR 2.44 billion, which at current prices was 1.6 % less than a year ago, of which the exports value of goods was 2.5 % higher, but imports value of goods was 4.6 % lower. 

In September, Latvia exported goods in the amount of EUR 1.09 billion, but imported in the amount of EUR 1.36 billion. Compared to September 2018, foreign trade balance has improved as exports in total foreign trade amount increased from 42.7 % to 44.5 %.

Latvia trade balance September 2019
Latvia trade balance September 2019

Over the first nine months of this year, the foreign trade turnover of Latvia at current prices reached EUR 21.1 billion – EUR 95.1 million or 0.5 % more than in the corresponding period of 2018. The exports value constituted EUR 9.41 billion (an increase of EUR 56.6 million or 0.6 %), whereas the imports value – EUR 11.69 billion (an upturn of EUR 38.5 million or 0.3 %).

In September, the main export partners of Latvia in trade with EU countries were Lithuania (16.9 % of total exports), Estonia (11.3%), Germany (6.8 %) and Sweden (6.4 %), whereas the main import partners were Lithuania (18.1 % of total imports), Germany (10.7 %), Poland (9 %) and Estonia (7.6 %). The main partner in trade with third countries was Russia, share of which in total Latvian exports in September accounted for 10.5 %, but in imports – for 6.8 %.

In September 2019 foreign trade balance of Latvia was positive with 124 partner countries, as exports value of goods exceeded imports value of goods. It was negative in trade with 42 countries.

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