Latvia lags behind in Baltic trade

  • 2006-11-15
  • From wire reports
RIGA - Latvia still falls behind its Baltic neighbors Lithuania and Estonia by export and import in the first eight months of this year, according to the Latvian national statistics office. During the first nine months of this year, Latvia exported goods worth 3 billion euros. Lithuanian exports were at 7.4 billion euros and Estonian exports at 5 billion euros.

Of Latvia's total exports during this period, 75 percent went to the European Union. Lithuania exported 63 percent and Estonia 64 percent to the EU.
Latvian exports to Lithuania during the first eight months of this year accounted for 14 percent of total exports, and 12 percent to Estonia. Lithuania exported 11 percent of its total exports to Latvia and 7 percent to Estonia, while 8 percent of Estonia's total exports went to Latvia and 5 percent to Lithuania.

Latvian imports reached 5.5 billion euros in January-August this year. Lithuania imported goods worth 9.9 billion euros and Estonian imports were worth 6.8 billion euros during the first eight months of this year. EU goods made up 75 percent of Latvia's total imports during the first eight months of 2006. For Lithuania, the number was 60 percent and Estonia imported 72 percent of its goods from the EU.

Of Latvia's total imports, 13 percent came from Lithuania and 7 percent from Estonia. Imports from Latvia made up 5 percent of Lithuania's total imports and Estonian goods accounted for 3 percent of Lithuanian imports in January-August 2006. Estonia received 5 percent of its total imports from Latvia and 7 percent from Lithuania.
All three Baltic states had foreign trade deficits with Latvia showing the biggest trade gap at 2.5 billion euros. Lithuania's foreign trade deficit was 2.4 billion euros and Estonian trade deficit was 1.7 billion euros.