Foreign trade has another month of double-digit growth

Provisional data of the Central Statistical Bureau (CSB) show that in August 2018 the foreign trade turnover of Latvia amounted to EUR 2.55 billion, which at current prices was 11.3 % more than in August 2017.

In August, Latvia exported goods in the amount of EUR 1.08 billion but imported considerably more - EUR 1.47 billion. Consequently compared to August 2017, foreign trade balance worsened as exports in total foreign trade amount decreased from 43.6 % to 42.3 %.

Over the first eight months of this year, the foreign trade turnover of Latvia at current prices reached EUR 18.05 billion – EUR 1.61 billion or 9.8 % more than in the corresponding period of 2017.

The exports value constituted EUR 8.0 billion (an increase of EUR 687.6 million or 9.4 %), whereas the imports value – EUR 10.05 billion (an upturn of EUR 924.4 million or 10.1 %).

Calendar and seasonally adjusted data at current prices show that, compared to August 2017, in August 2018 the exports value at current prices went up by 8.0 % and the imports value by 14.4 %, whereas, compared to the previous month, the exports value increased by 2.9 % and the imports value by 1.8 %

In August, the main export partners of Latvia in trade with EU countries were Lithuania (15.3 % of total exports), Estonia (11.9 %), Sweden (8.0 %) and Germany (7.2 %), whereas the main import partners were Lithuania (18.9 % of total imports), Germany (8.6 %), Poland (8.5 %) and Estonia (6.9 %).

Russia was the main partner in trade with third countries; its share in total Latvian exports in August accounted for 9.4 %, whereas in imports – for 12.3 %.

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