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Latvia’s export and import volumes still behind Lithuania and Estonia

Latvia’s export and import volumes were below those in Lithuania and Estonia in 11 months of 2017. Latvia also had the highest foreign trade deficit among Baltic States, according to data from the Central Statistical Bureau of Latvia.


In 11 months of 2017, Latvia’s export volume was equal to EUR 10,437 billion; Lithuania’s export volume was EUR 24,089 billion, whereas Estonia’s volume was equal to EUR 11,776 billion.
 

72% of Latvia’s exports were transported to European Union member states. Lithuania exported 59% of its goods there, and Estonia exported 72%.
 

The volume of Latvian goods exported to Lithuania in 11 months of 2017 was 17% of the country’s total export volume. 12% of Latvia’s goods were exported to Estonia. Lithuania exported 10% of its goods to Latvia and 5% – to Estonia. Estonia exported 9% of its goods to Latvia and 6% – to Lithuania.
 

Latvia’s import volumes reached EUR 12,826 billion in 11 months of 2017. Lithuania imported goods worth EUR 26,356 billion, whereas Estonia imported goods worth EUR 13.53 billion.
 

From EU member states Latvia imported 78% of goods, Lithuania imported 70%, and Estonia imported 83%.
 

Imports from Lithuania accounted for 19% of all imports in Latvia. Goods brought from Estonia accounted for 8% of Latvia’s total import volumes. Lithuania imported 7% of goods from Latvia and 3% from Estonia in 11 months of 2017. Estonia imported 8% of goods from Latvia and 9% from Lithuania.
 

Compiled data shows that foreign trade balance for all three Baltic States was negative in 2017. Latvia’s foreign trade deficit was EUR 2.388 billion, Lithuania’s balance was EUR 2.267 billion, and Estonia’s balance was EUR 1.754 billion.

BNN/LETA

29-01-2018
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