Exports rose 9% in July

Compared to June, in July 2014 exports grew by 9% at actual costs, while imports grew by 6.9%, official data released by the Central Statistics Bureau (CSB) showed Tuesday.

Latvia exported altogether €848.4m in goods, while spending €1,055m on imports, allowing the foreign trade balance to improve slightly from 44.1% in June to 44.6% in July.

Exports of mechanical equipment and electrical supplies grew by €21.8m, or 17.5%. Most of the sector’s growth was attributed to cell phone sales to Lithuania – up €7.4m or 27%, and bypass capacitors sold to Russia – up €3.3m or 20.8%.

However imports of these goods grew by 26.3%, or €47.4m, with 86.9% more coming from China and 37.3% more from Germany.

In the important lumber and wood product sector exports grew by €16.2m, or 11.2% while chemical industrial supplies fell by €11.6m or 16.9%.

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