Foreign trade of Latvia up 23.5% on year

Provisional data of the Central Statistical Bureau published December 10 show that in October 2021 the foreign trade turnover of Latvia amounted to EUR 3.39 billion, which at current prices was 23.5 % larger than a year ago.

 The exports value of goods was 17.8 % higher, but imports value of goods – 28.8 % higher.

In October Latvia exported goods in the amount of EUR 1.56 billion, but imported – in the amount of EUR 1.83 billion. Compared to October 2020, foreign trade balance has worsened as exports in total foreign trade amount decreased from 48.2 % to 46 %.

During the ten months of this year foreign trade turnover of Latvia at current prices reached EUR 29.35 billion – EUR 6.06 billion or 26 % more than in the corresponding period of 2020. The exports value constituted EUR 13.3 billion (a growth of EUR 2.41 billion or 22.2 %), whereas the imports value comprised EUR 16.05 billion (a rise of EUR 3.64 billion or 29.3 %).

Calendar and seasonally adjusted data show that, compared to October 2020, in October 2021 the exports value at current prices went up by 22.8 %, but the imports value – by 33.1 %, whereas, compared to the previous month, the exports value went down by 0.8 % ,but the imports value – went up by 10.1 %.

In October main exports partners were Lithuania (17.6 % of total exports ), Estonia (10.8 %), Germany (8.3 %) and United Kingdom (8 %), whereas the main import partners were Lithuania (16 % of total imports), Russian Federation (13.6 %), Poland (9.4 %) and Germany (9.1 %).

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