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Latvia's exports did well in October

Provisional data released by the Central Statistical Bureau on December 10 show that in October 2020 Latvia's foreign trade turnover amounted to EUR 2.7 billion, which at current prices was 3.9 % larger than a year ago.

Exports led the way, with the export value of goods 7.7 % higher, while imports were up by 0.6 %. 

In October Latvia exported goods in the amount of EUR 1.31 billion, but imported to the tune of EUR 1.39 billion. Compared to October 2019, foreign trade balance has improved slightly as exports in total foreign trade amount increased from 46.9 % to 48.6 %.

During the ten months of this year foreign trade turnover of Latvia at current prices reached EUR 23.08 billion – EUR 963.3 million or 4 % less than in the corresponding period of the previous year. The exports value constituted EUR 10.77 billion (a drop of EUR 27.8 million or 0.3 %), whereas the imports value comprised EUR 12.31 billion (a fall of EUR 935.5 million or 7.1 %).

Calendar and seasonally adjusted data show that, compared to October 2019, in October 2020 the exports value at current prices went up by 9.8 % and the imports value – by 4 %, whereas, compared to the previous month, the exports value went down by 0.6 % but the imports value – by 0.4 %.

Lithuania, Estonia and Russia were Latvia's three top export partners, while Lithuania, Germany and Poland were the three top importers. 

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