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Russia shows increased interest in Latvian market

Jan 09, 2014
From wire reports, RIGA

Russia's share in Latvia's export goods rose from 11.9 percent in October 2013 to 14.1 percent in November 2013, new research shows.

In November, the most significant share in Latvia's export - 69.1 percent - was constituted by export to the European Union, followed by the CIS countries - 19 percent.

Figures form the Central Statitsitcal Bureau show how Latvia's main export partners were Lithuania - 17.5 percent of total export, Russia - 14.1 percent, Estonia - 11.9 percent, Germany - 7.3 percent, and Poland - 6.1 percent.

The largest increases were registered in export of food products, which amounted 14.4 million euros or 27.8 percent. Transport vehicles and equipment  came to 1.6 million euros or 47.2 percent.

Other figures show:

  • Growth in export of spirits-17.7 million euros or 42.6 percent. Spirits have had the greatest influence on the rise in export of beverages, spirits and vinegar in November 2013, compared wth last year.
  • Exports of cereals reduced rapidly as exports of wheat and meslin decreased by 76.2 million euros or 76.2 percent.
  • The most significant share in Latvia's import - 79.4 percent - came from the EU, followed by the CIS - 11.7 percent. Latvia's major import partners were Lithuania - 21.1 percent of total import, Poland - 9.9 percent, Germany - 9.6 percent, Russia - 8.8 percent, and Estonia - 8 percent.
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