Latvia's foreign trade figures continue to grow

Foreign trade continued to grow appreciably in Latvia in November 2018, though the gap between exports and imports continued to grow, according to provisional data released January 9 by the Central Statistical Bureau (CSB).

In November 2018 Latvian foreign trade turnover amounted to EUR 2.47 billion, which at current prices was 7 % more than in November 2017, of which the exports value of goods was 5.2 % and imports value of goods was 8.6 % higher. 

Latvia exported goods worth EUR 1.17 billion, but imported in the amount of EUR 1.3 billion. Consequently the foreign trade balance worsened as exports in total foreign trade decreased from 48.1 % to 47.3 %. But the gap between exports and imports was significantly smaller than in the preceding month.

In November, the main export partners of Latvia in trade with EU countries were Lithuania (16.1 % of total exports), Estonia (11.6 %), Sweden (8.2 %) and Germany (6.6 %), whereas the main import partners were Lithuania (17.7 % of total imports), Germany (11.4 %), Poland (9 %) and Estonia (8.2 %).

Main partner in trade with third countries was Russia, share of which in total exports of Latvia in November comprised 11.2 %, but in imports – 7.8 %.

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Economy
Economy