16.08.2021 - Economy

Latvia's foreign trade increases by more than one third

Provisional data published by the Central Statistical Bureau August 10 show that in June 2021 the foreign trade turnover of Latvia amounted to EUR 2.98 billion, which at current prices was 37.6 % larger than a year ago, of which the exports value of goods was 31.7 % higher, but imports value of goods – 42.6 % higher. 

In June, Latvia exported goods in the amount of EUR 1.3 billion, but imported – in the amount of EUR 1.68 billion. Compared to June 2020, foreign trade balance has widened as exports in total foreign trade amount decreased from 45.6 % to 43.6 %.

During the first half of this year foreign trade turnover of Latvia at current prices reached EUR 16 billion – EUR 2.94 billion or 22.5 % more than in the corresponding period of 2020. The exports value constituted EUR 7.35 billion (a growth of EUR 1.24 billion or 20.3 %), whereas the imports value comprised EUR 8.65 billion (a rise of EUR 1.7 billion or 24.5 %).

Calendar and seasonally adjusted data show that, compared to June 2020, in June 2021 the exports value at current prices went up by 32.6 %, but the imports value – by 44.3 %, whereas, compared to the previous month, the exports value went up by 4.1 %, but the imports value – by 4.8 %.

In June, the main export partners of Latvia in trade with EU countries were Lithuania (18 % of total exports), Estonia (12 %), Germany (7.1 %) and Sweden (6.1 %), whereas the main import partners were Lithuania (15 % of total imports), Germany (9.5 %), Poland (9.2 %) and Estonia (8.3 %). United Kingdom was the main export partner in trade with third countries; its share in total Latvian exports in June accounted for 8.7 %, whereas the main import partner was Russian Federation – 10.9 % of total imports.

Source: eng.lsm.lv

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