Latvian exports topped one billion euros in July

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Provisional data pubished by the Central Statistical Bureau September 10 show that in July 2019 the foreign trade turnover of Latvia amounted to EUR 2.42 billion, which at current prices was 0.9 % more than a year ago.

Of that amount the exports value of goods was 3.1 % higher, but imports value of goods was 0.7 % lower. 

In July, Latvia exported goods in the amount of EUR 1.04 billion, but imported – in the amount of EUR 1.38 billion. Compared to July 2018, foreign trade balance has improved as exports in total foreign trade amount increased from 42 % to 43 %.

Over the first seven months of this year, the foreign trade turnover of Latvia at current prices reached EUR 16.25 billion – EUR 356.7 million or 2.2 % more than in the corresponding period of 2018. The exports value constituted EUR 7.22 billion (an increase of EUR 47.3 million or 0.7 %), whereas the imports value – EUR 9.03 billion (an upturn of EUR 309.4 million or 3.5 %).

Calendar and seasonally adjusted data show that, compared to July 2018, in July 2019 the exports value at current prices went down by 1.5 % and the imports value – by 6.7 %, whereas, compared to the previous month, the exports value went up by 1.6 % and the imports value – by 3.8 %.

In July, the main export partners of Latvia in trade with EU countries were Lithuania (19.2 % of total exports), Estonia (11.4 %), Germany (7.2 %) and United Kingdom (5.8 %). whereas the main import partners were Lithuania (18.7 % of total imports), Germany (11.5 %), Poland (9.1 %) and Estonia (8.9 %). The main partner in trade with third countries was Russia, share of which in total Latvian exports in July accounted for 9.8 %, and in imports – for 8.2 %.

Latvia trade July 2019
Latvia trade July 2019

In July 2019 foreign trade balance of Latvia was positive with 114 partner countries as exports value of goods exceeded imports value of goods. It was negative in trade with 53 countries.

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