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Foreign trade turnover value grows in Latvia

09.02.2012

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2011 saw an increased investment in Latvia from overseas, according to provisional data provided by the Central Statistical Bureau this week.

The data showed that foreign trade turnover value reached LVL 13,599 million (£16,320,481), which is equivalent to 28.2 per cent. This is around LVL 2,992 million (£3,590,770) more than was recorded in 2010.

There was also found to be an increase of 28.1 per cent in terms of export value while import value improved by around 28.3 per cent on 2010 figures.

In December 2011 the total foreign trade turnover at current prices comprised 4.7 per cent less than in the previous month but 6.3 per cent more than at the same point in 2010.

The amount of export decline was mostly affected by a decrease of 15.2 per cent in the export of base metals as well as an 11.5 per cent drop in the export of wood and articles of wood.

KMS Baltics is a partnership of independent companies providing forestry investment management in Estonia, Latvia, the UK and Romania.

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