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Exports from Latvia dropped by 13.4%

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Provisional data of the Latvian Central Statistical Bureau (CSB) show that in November 2014 compared to the previous month exports value of goods at current prices dropped by 13.4%. Imports value of goods decreased by 5.7%.
The balance of trade worsened as exports in total foreign trade value declined to 46.0% (in October 2014 – 48.1%).

Compared to October, the foreign trade balance in November was significantly affected by a decrease of exports of vegetable products. Export of vegetable products was mostly affected by a drop in exports of wheat and meslin.

The main changes in exports in November, compared to October:

· exports of machinery and mechanical appliances; electrical equipment fell by 14.5%,
· exports of prepared foodstuffs dropped by 14.9%,
· exports of mineral products decreased by 11.8%,
· exports of basic metals and articles of basic metals declined by 13.2%,
· exports of optical instruments and apparatus (including medical); clocks and watches, musical instruments grew by 39.1%.