Latvian-Estonian trade running strong

  • 2011-05-11
  • From wire reports

RIGA - In 2010, the total value of Latvia’s foreign trade turnover with Estonia reached 1.2 billion lats (1.7 billion euros), show data at the Latvian Investment and Development Agency, reports Exports to Estonia amounted to 722.5 million lats, while imports reached 489.9 million lats.

Latvia’s exports of goods to Estonia comprised 617.9 million lats, while imports were 414.8 million lats, thus Estonia was Latvia’s second most important export partner and fifth import partner.
Estonia’s share in Latvia’s exports amounted to 13.2 percent.
The main export goods were machines, mechanical equipment, electrical devices, wood products and chemical industry goods. Latvia imported from Estonia machines, mechanical equipment, electrical devices, metals, transport vehicles and food products.

Latvia’s exports of services to Estonia reached 104.6 million lats, while imports were 75.1 million lats.
According to the Bank of Latvia, Estonia’s direct investments in Latvia amounted to 801.4 million lats, which is 13.8 percent of the total amount of accumulated direct investments in Latvia.
On April 28, Estonian Prime Minister Andrus Ansip arrived for a two-day working visit to Latvia. During the visit, the Estonian prime minister was to meet with Latvia’s highest level officials as well as representatives from the Estonian business community operating in Latvia.