Latvia's foreign trade up 23.7% in June

Provisional data published on August 10 by the Central Statistical Bureau show that in June 2022 the foreign trade turnover of Latvia amounted to EUR 3.68 billion.

At current prices, it was 23.7 % larger than a year ago, of which the exports value of goods was 28.6 % higher, but imports value of goods – 20 % higher.

 In June Latvia exported goods in the amount of EUR 1.65 billion but imported – in the amount of EUR 2.03 billion. Compared to June 2021, foreign trade balance has improved slightly as exports in total foreign trade amount increased from 43.1 % to 44.8 %. It should be taken into account that the data on foreign trade in goods are reflected in actual prices and are calculated on the basis of the value of goods in euros and not their physical quantity.

During the first half of the year, the foreign trade turnover of Latvia at current prices reached EUR 21.77 billion – EUR 5.71 billion or 35.5 % more than in the corresponding period of 2021. The exports value constituted EUR 9.62 billion (a growth of EUR 2.32 billion or 31.8 %), whereas the imports value comprised EUR 12.14 billion (a rise of EUR 3.39 billion or 38.7 %).

Calendar and seasonally adjusted data show that, compared to June 2021, in June 2022 the exports value at current prices went up by 28.3 %, but the imports value – by 17.2 %, whereas, compared to the previous month, the exports value went up by 2.2 %, but the imports value – went down by 10.3 %.

The main exports partners in June were Lithuania (20 % of total exports), Estonia (10.8 %), Russian Federation (8.1 %) and Germany (7.5 %), whereas the main imports partners were Lithuania (22.4 % of total imports), Estonia (11.6 %), Germany (10.6 %) and Poland (10.2 %).

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