Export of goods has increased more rapidly than import in Latvia's foreign trade

In the first half of this year, the volume of goods exported at current prices increased by LVL 233.9 million or by 7.5 percent, while the volume of imports – only by LVL 4.1 million or by 0.1 percent when compared to the first half of the previous year, the Central Statistical Bureau informs.

 This, in turn, has also affected the foreign trade balance – the share of exports in total foreign trade volume reached 44.7 percent. In comparison, in the first six months of previous year, the share of exports was 43 percent.

Excluding impact of price changes, in January-June of this year, compared to the first half of the previous year, export volume at constant prices rose by 3.8 percent, but import volumes decreased by 1.6 percent.

In January-June 2013, the largest volume of goods – two fifths of the total proportion of exports – were exported by manufacturing enterprises. The increase of exports of these enterprises, compared to the first half of previous year, comprised LVL 14.6 million or 1.1 percent.

But when looking at imports, more than a half of all goods were imported by enterprises whose main activity is wholesale and retail trade. Compared to the first half of the previous year, volume of goods imported by these enterprises rose by LVL 34.7 million or 1.5 percent.

Source: www.balticexport.com

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