During the comparison period, the value of goods imported from Russia to Latvia decreased by 53.468 million, or 2.8 times, to 28.974 million euros, and from Belarus – by 14.912 million euros, or 3.4 times, to 36.331 million euros.
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Meanwhile, in the first seven months of this year, Latvia exported goods worth 688.299 million euros to Russia and Belarus, which is 9.6%, or 60.171 million euros, more than in the first seven months of last year. Goods worth 607.758 million euros were exported to Russia, i.e., 9.6%, or 53.197 million euros, more, and goods worth 80.541 million euros were exported to Belarus – 9.5%, or 6.975 million euros, more.
In July alone, compared to July last year, Latvia’s exports to Russia increased by 8.8%. The biggest impact on growth was the increase in exports of food industry products by 36.8%, or 14.7 million euros. Compared to June, exports to Russia increased by 17.9%, which was also mainly due to the growth of food industry product exports by 16.5 million euros.
Imports from Russia in July decreased by 26.8% year-on-year to 4.614 million euros. The decrease in imports was mainly due to a 96.5% decrease, or 0.7 million euros, in imports of pulp, paper, cardboard, and products made from them. Compared to June, imports from Russia increased by 7.3%, mainly due to the growth of imports of chemical industry and related products by 0.9 million euros.
In July, exports to Belarus decreased by 0.1% year-on-year to 13.075 million euros. This decrease was mainly due to a 23.9% decrease, or 1.2 million euros, in exports of food industry products. Compared to June, exports to Belarus increased by 4.1%, mainly due to the growth of exports of optical instruments and equipment by 2.4 million euros. Imports from Belarus decreased by 58.9% and amounted to 1.643 million euros. The biggest impact on the decrease in imports from Belarus was the decrease in imports of animal or vegetable fats and oils by 1.7 million euros.
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