Latvia still exporting and importing less than Lithuania and Estonia in first ten months

  • 2017-12-31
  • LETA/TBT Staff

RIGA - During the first ten months of 2017 Latvia still trailed behind its Baltic neighbors Estonia and Lithuania by export and import volumes and also showed the widest trade gap among the Baltic states, the Latvian Central Statistical Bureau said.

In the first ten months of 2017, Latvian exports totaled EUR 9.329 billion, while Lithuanian exports were worth EUR 21.587 billion and Estonia's exports added up to EUR 10.636 billion.

In January-October this year, the European Union (EU) received 72 percent of total Latvian exports, 59 percent of total Lithuanian exports and 72 percent of total Estonian exports.

In the first ten months of this year, Latvia shipped 17 percent of its export goods to Lithuania and 12 percent to Estonia, while Lithuania shipped 10 percent of its export goods to Latvia and 5 percent to Estonia. Meanwhile, Estonia shipped 9 percent of its export goods to Latvia and 6 percent to Lithuania.

Latvian imports in the first ten months of 2017 amounted to EUR 11.619 billion, while Lithuania imported goods worth EUR 23.649 billion and Estonian imports totaled EUR 12.267 billion.

EU member states provided 77 percent of Latvian imports, 70 percent of Lithuanian imports and 83 percent of Estonian imports.

In January-October 2017, Latvia received 19 percent of its imports from Lithuania, while imports from Estonia accounted for 8 percent. Lithuania received 7 percent of its total imports from Latvia and 3 percent from Estonia, and Estonia received 8 percent of its imports from Latvia and 9 percent from Lithuania.

In January-October 2017, all three Baltic states showed negative foreign trade balances, with Latvia reporting the widest trade gap in the Baltics at EUR 2.29 billion. Lithuania had a trade deficit of EUR 2.063 billion, and Estonia showed a trade gap of EUR 1.631 billion.