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Thursday, January 10, 2008

Latvia Foreign Trade November 2007

Both imports and exports declined in November, although both were up year on year. Compared with October 2007 the value of exports, at current prices, in November 2007 decreased by 1.7% or 6.4 mln lats, but in comparison with November 2006 it increased by 24.8 % or 73.0 mln lats, reaching 367.8 mln lats, according to Central Statistical Bureau data.

The value of imports in current prices decreased by 5.3% or 36.0 mln lats in November 2007 when compared with October 2007, but in comparison with November 2006 it increased by 4.8% or 29.6 mln lats, reaching 647.3 mln lats.

The total foreign trade turnover in November 2007 was 11.2% or 102.6 mln lats higher than in November 2006, with a total value of 1015.1 mln lats.

If we can see from the chart above that the deterioration in the trade balance has stabilised somewhat, we can see from the one below that this is largely to do with a deterioration (or improvement if you prefer) in imports rather than a substantial rise in exports.

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