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Foreign trade was strongly up on year in August

Provisional data published by the Central Statistical Bureau October 11 show that in August 2021 the foreign trade turnover of Latvia amounted to EUR 3.39 billion, which at current prices was 45.1 % larger than a year ago.

The exports value of goods was 32.3 % higher, but imports value of goods – 56.3 % higher. In August Latvia exported goods in the amount of EUR 1.45 billion, but imported – in the amount of EUR 1.95 billion. Compared to August 2020, the foreign trade balance has worsened as exports in total foreign trade decreased from 46.7 % to 42.6 %.

During the eight months of this year foreign trade turnover of Latvia at current prices reached EUR 22.53 billion – EUR 4.73 billion or 26.6 % more than in the corresponding period of 2020. The exports value constituted EUR 10.14 billion (a growth of EUR 1.88 billion or 22.8 %), whereas the imports value comprised EUR 12.39 billion (a rise of EUR 2.85 billion or 29.8 %).

 

Calendar and seasonally adjusted data show that, compared to August 2020, in August 2021 the exports value at current prices went up by 28.3 %, but the imports value – by 50.1 %, whereas, compared to the previous month, the exports value went up by 4.5 %, but the imports value – by 9.5 %.

In August, the main export partners of Latvia in trade with EU countries were Lithuania (17.3 % of total exports), Estonia (10.5 %), Germany (8.8 %) and Sweden (5.6 %), whereas the main import partners were Lithuania (17.7 % of total imports), Estonia (8.6 %), Germany (8.2 %) and Poland (8.2 %). United Kingdom was the main export partner in trade with third countries; its share in total Latvian exports in August accounted for 9.7 %, whereas the main import partner was Canada (as a result of the purchase of aircraft worth EUR 245.1 million) – 12.7 % of total imports.

 

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