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High exports of fish products may have something to do with preparations for the end of the world in Russia

Photo: Evija Trifanova.
 RIGA, Dec 11- Latvia's exports reached a new record high in October by amounting to almost LVL 700 million, however, imports increased steeply, too, and the value of imports in October for the first time exceeded LVL 800 million, notes "DNB banka" socioeconomic expert Peteris Strautins.
According to Strautins, the volume of re-export was high in October, especially of re-export of minerals. Nevertheless, the list of those categories of goods that are made by local producers in October was longer than in any other month before that.
New records were set for several groups of exported products, for instance, milk, eggs and honey, and Strautins attributes the increase to investments in production made during the crisis.
"The particularly high exports of fish and fish products may have something to do with preparations for the end of the world in Russia, where sprats are one of the components of special packages for those who want to live through it," notes Strautins, emphasizing that export of grain has increased 3.1 times from last October.
Another notable factor is the export and import of alcoholic and non-alcoholic beverages, where the volumes of export exceed the amount that local producers could actually produce for foreign markets. This year, the amount of exports will exceed the imports amount almost twofold. In 2010, export of alcoholic and non-alcoholic beverages exceeded imports by about two-thirds, whereas in 2005-2007, imports of alcoholic and non-alcoholic beverages were higher than exports. Even though there are certain re-export flows, the proportion of locally added value in exports obviously continues to increase.
Regardless of rather unfavorable circumstances, wood exports reached the second best result in history. For printing houses, textile producers, furniture makers October was the best month ever, informs Strautins.
On the other hand, the high volume of imports is most probably due to the preparations for the traditional shopping sprees.
leta.lv
11-12-2012
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