Latvian exports up 2.2 pct year on year in 11 months of 2014

Latvia exported 9.41 billion euro (11.14 billion U.S. dollars) worth of goods during the first 11 months of 2014, up 2.2 percent from the same period a year ago, while imports dropped 1.3 percent to 11.491 billion euros, the national statistics office reported.

In November 2014, Latvia exported 911.939 million euro worth of goods, which was a 13.4 percent drop from October 2014 when Latvia reported a record-high monthly export figure. In annual terms, Latvian exports slowed 0.8 percent in November 2014.

Latvian imports in November 2014 totalled 1.07 billion euros, which was a 5.7 percent decrease from October 2014 but close to the figure recorded in November 2014.

The statistics office said Latvia's external trade balance slightly deteriorated in November 2014, as the share of exports contracted to 46 percent from 48.1 percent in October 2014.

"Compared to October, the foreign trade balance in November was significantly affected by a 47.2-million-euro or 44.7 percent decrease in exports of vegetable products. Exports of vegetable products were mostly affected by a 39-million-euro or 61.1 percent drop in exports of wheat and maslin," the statistics office said. (1 euro = about 1.18 U.S. dollars) Endit