Bilateral trade between China-Latvia rise to 53.1%

30 May '05

4 min read

China Institute for Reform and Development confirms the bilateral trade between Chin & Latvia is increases.

China–Latvia Bilateral trade kept a good trend of development. According to statistics of Latvia, in 7 years from 1998 to 2004, China –Latvia trade rose from No.31 to No. 22, and growth in exports was obvious, climbing from No. 108 to No. 21, totaling US$1 million in 1998 and increasing to US$168 million in 2004.

According to statistics from Chinas Customs, bilateral trade between China and Latvia amounted to US$199 million, up by 53.1% on a year-on-year basis. Of which exports to Latvia were US$179 billion and imports US$19.81 million, up by 61.8% and 3.2% respectively.

Statistics from Ministry of Economy of Latvia in March 14 2005 showed that bilateral trade between China and Latvia reached US$99.2 million, accounting for 0.9% of total trade of Latvia, China became the 22th trading partner. Exports to China were US$10.6 million, accounting for 0.4% of total exports and down by 36.6% on a year-on-year basis, imports from China reached US$88.6 million, accounting for 1.7% and up by 31.3%.

Analysis of 2004 China-Latvia bilateral trade showed features as follows:

1. China's exports to Latvia went on increasing.
Statistics from Latvia showed that Chinas exports in 2004 increased to US$88.6 million from US$67.5 million in 2003 with a growth rate of 31.3%.

2. China's foreign trade with Latvia maintained surplusin a great number. In 2004, Chinas exports to Latvia amounted to US$88.6 million and imports US$10.6 million, trade surplus reaching US$78 million.

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