Foreign trade of Latvia in Sept 2008

14 Nov '08

4 min read

Total foreign trade turnover at current prices in September 2008 reached 1110.5 mln lats – 158.5 mln lats or 16.7% more than a month before and 124.9 mln lats or 12.7% less than in September of previous year, according to Central Statistical Bureau data.

Compared to August especially rapid growth in September 2008 witnessed imports and that, taking into account the fact that, approximately half of the export in the country is formed by the business deals made by the enterprises performing their activities in the trade sector, probably has influenced also the rise of the total export deal value.

Main commodities in Latvia's exports in September 2008, at current prices
Compared to previous month in September 2008, if calculating at current prices, most rapid rise witnesses the exports of wheat and meslin – 3.7 times (to Denmark, Sweden, Portugal, Netherlands and to Faeroe Islands). Noticeable increase was observed also in the exports of prepared or preserved fish, crustaceans, molluscs – by 65.2%, of chocolate and other food preparations containing cocoa – by 60.0%, of vodka – by 37.9%. Among the products of chemical and allied industries most significant growth was recorded in the exports of perfumery and cosmetics. By 84.4%, of pharmaceutical products – by 41.1%. Notable increase witnessed also exports of glass fibres - by 52.6%, of agglomerated and non-agglomerated peat – by 36.5%, of electrical appliances and equipment – by 26.7%, of non-ferrous metals and articles thereof – by 14.0%, of articles of apparel and accessories knitted or crocheted – by 12.8%. Exports of wood in the rough decreased by 24.7%, as well as did exports of veneer sheets and plywood – by 12.2%, of iron and non-alloy steel – by 2.8%.

Compared to September 2007 the highest growth in September of this year witnessed export of iron and non-alloy steel - 2.4 times (especially to Peru, Denmark and Belorussia), and of articles of iron or steel – by 59.2%. Amongst the agricultural and food goods most notable increase was observed in the export of wheat and meslin – by 90.6%, of products of prepared fish, crustaceans, molluscs and preserves – by 75.9% and of vodka – by 55.2%. Also exports of chemical and allied industries grew significantly: of perfumery and cosmetics – by 67.2%, of organic chemical compounds – by 45.3%, of tanning or dyeing extracts, paints and varnishes – by 40.7%. Remarkable increase witnessed also exports of agglomerated and non-agglomerated peat – by 43.9%, of electrical appliances and equipment – by 39.1%, of printed books, newspapers, other products of the printing industry – by 34.5%, of articles of plaster – by 14.9%. But exports of wood in rough and sawn wood decreased by 47.4% and 45.0%, respectively.

Main commodities in Latvia's imports in September 2008, at current prices
Compared to previous month in September 2008, if calculating at current prices, imports grew in all main commodity groups. Most significant growth was recorded in the exports of new rubber pneumatic tyres for passenger vehicles and trucks, busses – 2 times (from Czech Republic and Italy), of trucks – 64.6%, of natural gas – by 53.0%, of articles of apparel, not knitted or crocheted – by 505.5%, of passenger cars – by 40.6%, of perfumery and cosmetics – by 28.0%, of cigarettes – by 24.7%, of electrical machinery and equipment – by 20.3%, of pharmaceutical products – by 16.5%.