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Bilateral trade between China-Latvia rise to 53.1%

30 May '05
4 min read

3. Proportion of China-Latvia bilateral trade to Latvias foreign trade was small. In 2004, total foreign trade of Latvia were US$10.85 billion, bilateral trade between China and Latvia were US$99.2 million, only accounting for 0.9% of total.

4. China's imports from Latvia was down by a big margin, reaching US$10.6 million in 2004, decreasing by 36.6% on a year-on-year basis.

5. Main exports of China to Latvia were machinery, textile and garments, footwear and caps.

6. Main imports from Latvia were IT, aeronautical material, timber and metal and mineral products.

According to statistics of Latvia, Chinas imports from Latvia accounted for 50.8%, metal and metal products for 24.9% and timber and timber products for 9.1%.

7. Scale of two-way investment between China and Latvia was at a lower level.
Over 50 Chinese enterprises registered in Latvia with total investment of more than 30 thousand LAT, equaling US$55.5 thousand. Investment fields focused in tertiary industry like trade, catering and service in form of private and family enterprises. The enterprises were in small scales and had weak risk resistant capacity.

There were only 6 Latvia investment enterprises in China by Dec. 2004 with a contract value of US$1.14 million and actual use amounting to US$100 thousand. China and Latvia have great potential of development in bilateral trade.

With the rapid development of Chinas economy and new 0 thousand. China and Latvia have great potential of development in bilateral trade.

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