Latvia's foreign trade up 27.6% in November

Provisional data of the Central Statistical Bureau show that in November 2021 the foreign trade turnover of Latvia amounted to EUR 3.29 billion, which at current prices was 27.6 % larger than a year ago.

The exports value of goods was 30.7 % higher, but the imports value of goods – 24.6 % higher. In November Latvia exported goods in the amount of EUR 1.64 billion but imported – in the amount of EUR 1.66 billion. Compared to November 2020, the foreign trade balance has improved as exports in total foreign trade amount increased from 48.5 % to 49.7 %.

Even though the share of imports and exports is almost in balance, it should be taken into account that data on foreign trade in goods is reflected in actual prices and calculated on the basis of the value of goods in euros and not their physical quantity.

During the eleven months of last year foreign trade turnover of Latvia at current prices reached EUR 32.66 billion – EUR 6.78 billion or 26.2 % more than in the corresponding period of 2020. The export value constituted EUR 14.94 billion (a growth of EUR 2.8 billion or 23.1 %), whereas the imports value comprised EUR 17.72 billion (a rise of EUR 3.98 billion or 29 %).

The main exports partners in November were Lithuania (16.8 % of total exports), Estonia (10.8 %), Germany (8.2 %) and Russian Federation (7.4 %). whereas the main import partners were Lithuania (18.4 % of total imports), Germany (11.5 %), Poland (10.2 %) and Estonia (8.1 %).

The full report is available on the official statistics website.

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