Trade growth marches on in double digits

Provisional data of the Central Statistical Bureau (CSB) show that in October 2017 Latvian foreign trade turnover amounted to EUR 2.31 billion, which at current prices was 10.3 % more than in October 2016.

In October, Latvia exported goods in the amount of EUR 1.07 billion, and imported goods in the amount EUR 1.24 billion. The foreign trade balance worsened slightly, as exports in the total foreign trade value dropped to 46.4 % (in October 2016 – 46.7 %).

Over the first ten months of the present year, the foreign trade turnover of Latvia at current prices reached EUR 20.95 billion – EUR 2.41 billion or 13.0 % more than in the corresponding period of 2016.

The exports value constituted EUR 9.33 billion (an increase of EUR 814.8 million or 9.6 %), whereas the imports value comprised EUR 11.62 billion (an upturn of EUR 1.6 billion or 16.0 %).

Calendar and seasonally adjusted data at current prices show that, compared to October 2016, in October 2017 the exports value at current prices went up by 7.0 % and the imports value by 8.4 %, whereas, compared to the previous month, the exports value decreased by 1.5 % and the imports value by 6.4 %.

In October, the main export partners of Latvia in trade with EU countries were Lithuania (16.0 % of total exports), Estonia (11.3 %), Germany (6.7 %) and Sweden (6.2 %), whereas the main import partners were Lithuania (18.3 % of total imports), Germany (11.4 %), Poland (8.9 %) and Estonia (7.4 %). Russia was the main partner in trade with third countries; its share in total Latvian exports in October accounted for 10.1 %, whereas in imports – for 7.4 %.

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