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Imports dip, exports nudge up in 3rd-quarter balance

In the first nine months of 2014 compared to the same period last year, exports of goods from Latvia have grown by €144m, or 2%, while the amount of imports shrank slightly by €103m, or 1.1%, the Central Statistics Board informed LSM Wednesday.

Altogether it is estimated that so far this year Latvia has exported goods worth €75bn, while imports have been making up €9.3bn-worth of the trade balance.

This is a slight improvement in the overall foreign trade balance, with exports now making up 44.6% of it.

Retailers and wholesale traders made up more than two-fifths of the exports, the sector accounting for €24m, or 0.8% of the growth in exports over last year. It also reduced its imports by €69.6m, or 1.2%

Businesses from the construction sector also helped the export boost worth €16.3m or 29%.

However the second-largest sector – industrial processing, saw a reduction by 4.4%, €132.27m.

Capital goods sectors (goods intended for further manufacturing processes) grew in the value of its exports by 2.4%, reaching 11.5%, while imports fell by 6.1% to 12.8%

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