WASHINGTON: In the first ten months of 2016 Latvia still trailed behind its neighbors Estonia and Lithuania by export and import volumes while Lithuania showed the largest trade deficit, according to the Latvian Central Statistical Bureau writes LETA. In January-October 2016, Latvian exports totaled EUR 8.453 bln, while Lithuanian exports were worth EUR 18.447 bln and Estonia’s exports added up to EUR 9.836 bln. During the first ten months of 2016, the European Union (EU) received 74% of total Latvian exports, 61% of total Lithuanian exports and 74% of total Estonian exports.
In the ten months of last year, Latvia shipped 18% of its export goods to Lithuania and 12% to Estonia, while Lithuania shipped 10% of its export goods to Latvia and 5% to Estonia. Meanwhile, Estonia shipped 9% of its export goods to Latvia and 6% to Lithuania. Latvian imports amounted to EUR 10.017 bln, while Lithuania imported goods worth EUR 20.204 bln and Estonian imports totaled EUR 11.201 bln in the first ten months of 2016. During the first ten months of last year, Latvia received 80%, Lithuania 70% and Estonia 84% of total imports from EU member states.
In January-October 2016, Latvia received 17% of its imports from Lithuania, while imports from Estonia accounted for 8%. Lithuania received 7% of its total imports from Latvia and 3% from Estonia, and Estonia received 9% of its imports from Latvia and 9 % from Lithuania. In January-October 2016 all three Baltic states showed negative foreign trade balances, with Estonia reporting EUR 1.364 bln in trade gap. Latvia had a trade deficit of EUR 1.564 bln, and Lithuania showed a trade gap of EUR 1.757 bln.
