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Tuesday, December 11, 2007

Latvia Trade Balance September 2007

Compared to August 2007, the value of Latvian exports increased in September 2007 by 0.3% or 1 mln lats, but when compared with September 2006 they increased by 16.2 % or 46.9 mln lats, reaching a total of 336.7 mln lats, according to data from Latvijas Statistika.

The value of imports in September 2007 was 1.3% or 8.4 mln lats lower than in August 2007, and 8.5% or 49.7 mln lats higher than September 2006, reaching a total of 633.3 mln lats.

The total foreign trade turnover in September 2007 was 11.1% or 96.7 mln lats higher than in the corresponding period of the previous year and its value was 970.0 mln lats.

As can be seen in the chart, many of the lines in Latvia are down at the moment, including the trade deficit one, which is basically still as bad as it ever was.

The small positive change we can observe in the second chart is that the rate of increase in imports has slowed down dramatically since July basically (on the back of the slowdown in domestic demand growth presumably), while the rate of growth in exports is now no longer slowing, and we can see a small increase in the pace.

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