In September 2021 the foreign trade turnover of Latvia amounted to EUR 3.42 billion, which at current prices was 24.3 % larger than a year ago, of which the exports value of goods was 24.1 % higher, but imports value of goods – 24.4 % higher.
In September Latvia exported goods in the amount of EUR 1.61 billion, but imported – in the amount of EUR 1.8 billion. Compared to September 2020, foreign trade balance has worsened slightly as exports in total foreign trade amount decreased from 47.3 % to 47.2 %, according to provisional data of the Central Statistical Bureau of the Republic of Latvia.
During the nine months of this year foreign trade turnover of Latvia at current prices reached EUR 25.95 billion – EUR 5.39 billion or 26.2 % more than in the corresponding period of 2020. The exports value constituted EUR 11.74 billion (a growth of EUR 2.18 billion or 22.8 %), whereas the imports value comprised EUR 14.21 billion (a rise of EUR 3.22 billion or 29.3 %).
Calendar and seasonally adjusted data show that, compared to September 2020, in September 2021 the exports value at current prices went up by 23.2 %, but the imports value – by 24.6 %, whereas, compared to the previous month, the exports value went up by 1.8 %, but the imports value – went down by 8.8 %.
Compared to September 2020, the main changes in exports in September 2021 included the following: exports of wood and articles of wood up by EUR 142.2 million or 84.3 %; exports of base metals and articles of base metals up by EUR 57.5 million or 54 %; exports of mineral products up by EUR 48.9 million or 2.1 time; exports of products of the chemical and allied industries up by EUR 34.8 million or 37.8 %; exports of vegetable products down by EUR 13.1 million or 6.3 %.
Compared to September 2020, the main changes in imports in September 2021 included the following: imports of mineral products up by EUR 118.3 million or 2.2 times; imports of products of the chemical and allied industries up by EUR 42.6 million or 31.5 %; imports of base metals and articles of base metals up by EUR 40.4 million or 41.7 %; imports of machinery and mechanical appliances; electrical equipment up by EUR 33.8 million or 10.7 %; imports of wood and articles of wood up by EUR 32.7 million or 57.5 %.
In September main exports partners were Lithuania (18.1 % of total exports ), Estonia (9.6 %), United Kingdom (8.3 %) and Germany (6.9 %), whereas the main import partners were Lithuania (17.4 % of total imports), Estonia (10.5 %), Poland (9.6 %) and Germany (9.3 %).
In September 2021, compared to September 2020, share of the European Union countries in total exports value increased by 2.4 percentage points, but in imports value – reduced by 1 percentage point. Share of CIS countries in exports fell by 3.4 percentage points, but in imports – rose by 2.4 percentage points.
In September 2021 foreign trade balance of Latvia was positive with 120 partner countries, as exports value of goods exceeded imports value of goods. It was negative in trade with 45 countries.
The rise in exports of mineral fuels, mineral oils and products of their distillation in September 2021, as compared to September 2020, was mostly facilitated by an increase in exports of electricity by EUR 30.3 million. The rise in imports of mineral fuels, mineral oils and products of their distillation in September 2021, as compared to September 2020, was mostly facilitated by an increase in imports of electricity by EUR 54.2 million.
Import and export value in Latvia up considerably in September
