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Foreign trade turnover of Latvia up 15.8% on year

Provisional data of the Central Statistical Bureau published May 11 show that in March 2021 the foreign trade turnover of Latvia amounted to EUR 2.84 billion which at current prices was 15.8% larger than a year ago.

The exports value of goods was 20.6% higher, but imports value of goods – 11.9% higher. 

In March Latvia exported goods in the amount of EUR 1.34 billion, but imported – in the amount of EUR 1.5 billion. Compared to March 2020, foreign trade balance has improved as exports in total foreign trade amount increased from 45.3 % to 47.1 %.

During the first quarter of this year foreign trade turnover of Latvia at current prices reached EUR 7.38 billion – EUR 395.9 million or 5.7% more than in the corresponding period of 2020. The exports value constituted EUR 3.55 billion (a growth of EUR 282.5 million or 8.6%), whereas the imports value comprised EUR 3.83 billion (a rise of EUR 113.4 million or 3%).

Calendar and seasonally adjusted data show that, compared to March 2020, in March 2021 the exports value at current prices went up by 18%, but the imports value – by 8.5%, whereas, compared to the previous month, the exports value went up by 3.7%, but the imports value – by 4.6%.

In March, the main export partners of Latvia in trade with EU countries were Lithuania (18.2 % of total exports), Estonia (10.8 %), Germany (7.2 %) and Sweden (5.7 %), whereas the main import partners were Lithuania (18.2 % of total imports), Germany (11.6 %), Poland (10.7 %) and Estonia (8.3 %). Russian Federation was the main export partner in trade with third countries; its share in total Latvian exports in March accounted for 7.4 %, whereas in imports – for 5.6 %.

The full report is available on the official statistics website.

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