Topics Topics

Food exports down last year

The sanctions war between the European Union and the Russian Federation played a role in reducing the amount of food exported by Latvia in 2014, new figures show.

Latvia exported 2.175 billion euros worth of food and agricultural produce in 2014, which was a drop by 138 million euros, or 6 percent from a year before, according to information released by the Market and Direct Support Department of the Latvian Agriculture Ministry.

According to the ministry's information, food and agricultural produce made up 19.8 percent of Latvia's total exports in 2014, which is 1.4 percentage points lower than in 2013.

Although the value of Latvian food and agricultural produce exports declined last year, these products remained one of Latvia's main export groups for the third consecutive year.

Meanwhile, exports of timber and wooden articles added up to 2.066 billion euros in 2014, or 18.9 percent of Latvia's total exports, taking second position.

Of the food and agricultural produce shipped to foreign countries in 2014, EU member states received 51 percent and and third countries 49 percent.

Latvian imports of food and agricultural produce declined by 87 million euros, or 3.8 percent year-on-year to 2.179 billion euros in 2014. Traditionally, imports from EU member states accounted for the bulk of Latvian imports of food and agricultural produce, or 89 percent.

"Given a steeper reduction in the export value, the balance of foreign trade in food and agricultural produce was negative in 2014 - the export of food and agricultural produce was four million euros smaller than the import of these products," representatives of the Market and Direct Support Department of the Latvian Agriculture Ministry said.

But even with sanctions taking effect for much of the year the largest part of Latvian food and agricultural produce exports, or 30 percent, went to Russia. 18 percent were shipped to Lithuania and 11 percent to Estonia.

Although Latvia ships food and agricultural produce to 144 countries of the world, Russia traditionally is the main export partner among third countries. In 2014, the value of food and agricultural produce exports to Russia declined by 11 million euros, or 2 percent.

Meanwhile, exports grew to Kazakhstan, South Africa, Turkey, as well as some North African countries (Egypt, Libya, Morocco), Qatar, Congo, Kenia and Haiti.

Latvia also exported food and agricultural produce to all 27 EU member states, with Lithuania receiving 35 percent of Latvian food and agricultural produce exports to the EU. Last year, exports to traditionally important export markets like Lithuania, Estonia, Poland and Germany declined 17 percent, or 159 million euros, the ministry said.

In 2013, Latvia exported 2.313 billion euros worth of food and agricultural produce, accounting for 21.2 percent of Latvia's total exports.

Seen a mistake?

Select text and press Ctrl+Enter to send a suggested correction to the editor

Select text and press Report a mistake to send a suggested correction to the editor

Related articles
Economy
Economy

Please be aware that the LSM portal uses cookies. By continuing to use this site, you agree that we may store and use cookies on your device. Find out more

Accept and continue