Foreign trade increases by more than a third over one year / Article


Provisional data released by the Central Bureau of Statistics on August 10 shows that In June 2021, Latvia’s foreign trade turnover was EUR 2.98 billion, which at current prices was 37.6% higher than a year ago , whose value of merchandise exports was 31.7% higher, but the value of merchandise imports – 42.6% higher.

In June, Latvia exported goods worth € 1.3 billion, but imported – worth € 1.68 billion. Compared to June 2020, the foreign trade balance widened, with the total amount of foreign trade in exports falling from 45.6% to 43.6%.

In the first half of this year, Latvia’s foreign trade turnover at current prices reached 16 billion euros, or 2.94 billion euros, or 22.5% more than during the corresponding period of 2020. The value of exports amounted to 7.35 billion euros (a growth of 1.24 billion euros or 20.3%), while the value of imports amounted to to 8.65 billion euros (an increase of 1.7 billion euros or 24.5%).

Calendar and seasonally adjusted data show that, compared with June 2020, in June 2021, the value of exports at current prices increased by 32.6%, but the value of imports – by 44.3%, while, compared in the previous month, the value of exports increased by 4.1%, but the value of imports – by 4.8%.

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

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