In January–October 2007 against January–October 2006, exports and imports increased by, respectively, 10.3 and 14.5 per cent.
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Monday, December 10, 2007
Lithuania Foreign Trade October 2007
Statistics Lithuania reports that according to non-final data obtained from Customs declarations and Intrastat reporting data, exports in January–October of 2007 totalled LTL 36 billion in terms of commodity value, while imports to Lithuania equalled LTL 50.2 billion. The foreign trade deficit of Lithuania made up LTL 14.2 billion and was by 26.9 per cent higher than a year ago. Statistical data on trade with EU countries were revised having received VAT declarations data.
In January–October 2007 against January–October 2006, exports and imports increased by, respectively, 10.3 and 14.5 per cent.
In January–October 2007 against January–October 2006, exports and imports increased by, respectively, 10.3 and 14.5 per cent.
Latvia Trade Balance September 2007
Compared to August 2007, the value of Latvian exports increased in September 2007 by 0.3% or 1 mln lats, but when compared with September 2006 they increased by 16.2 % or 46.9 mln lats, reaching a total of 336.7 mln lats, according to data from Latvijas Statistika.
The value of imports in September 2007 was 1.3% or 8.4 mln lats lower than in August 2007, and 8.5% or 49.7 mln lats higher than September 2006, reaching a total of 633.3 mln lats.
The total foreign trade turnover in September 2007 was 11.1% or 96.7 mln lats higher than in the corresponding period of the previous year and its value was 970.0 mln lats.
As can be seen in the chart, many of the lines in Latvia are down at the moment, including the trade deficit one, which is basically still as bad as it ever was.
The small positive change we can observe in the second chart is that the rate of increase in imports has slowed down dramatically since July basically (on the back of the slowdown in domestic demand growth presumably), while the rate of growth in exports is now no longer slowing, and we can see a small increase in the pace.
The value of imports in September 2007 was 1.3% or 8.4 mln lats lower than in August 2007, and 8.5% or 49.7 mln lats higher than September 2006, reaching a total of 633.3 mln lats.
The total foreign trade turnover in September 2007 was 11.1% or 96.7 mln lats higher than in the corresponding period of the previous year and its value was 970.0 mln lats.
As can be seen in the chart, many of the lines in Latvia are down at the moment, including the trade deficit one, which is basically still as bad as it ever was.
The small positive change we can observe in the second chart is that the rate of increase in imports has slowed down dramatically since July basically (on the back of the slowdown in domestic demand growth presumably), while the rate of growth in exports is now no longer slowing, and we can see a small increase in the pace.
Latvia Inflation November 2007
Latvia's inflation continued climbing in November, reaching an annual rate of 13.7 percent, the country's statistics office announced today. It is the sixth month in a row that the consumer price index has risen in Latvia, which now has the highest inflation in the 27-member European Union.
Monthly inflation in November was 1.4 percent, led by food prices, which increased 3.4 percent, Latvian Statistics said. Bread prices alone soared 16.3 percent over the month. The result is another blow for the outgoing government, which in March passed a series of anti-inflation measures to curb bank lending and speculation on the real estate market. The four-party ruling coalition resigned on Wednesday after having lost its credibility over the sacking of a popular anti-corruption chief in October.
The coalition, however, still maintains a majority in the 100-seat parliament and will likely form the next government. Outgoing Prime Minister Aigars Kalvitis said the next head of government would have to tackle economic issues immediately as Latvia's economy continues to face macroeconomic imbalances. I agree. Immediately!
Monthly inflation in November was 1.4 percent, led by food prices, which increased 3.4 percent, Latvian Statistics said. Bread prices alone soared 16.3 percent over the month. The result is another blow for the outgoing government, which in March passed a series of anti-inflation measures to curb bank lending and speculation on the real estate market. The four-party ruling coalition resigned on Wednesday after having lost its credibility over the sacking of a popular anti-corruption chief in October.
The coalition, however, still maintains a majority in the 100-seat parliament and will likely form the next government. Outgoing Prime Minister Aigars Kalvitis said the next head of government would have to tackle economic issues immediately as Latvia's economy continues to face macroeconomic imbalances. I agree. Immediately!
Lithuania Inflation November 2007
Lithuania's inflation rate accelerated in November to the fastest pace in a decade, deepening concern the Baltic nation's economy may be overheating. The inflation rate rose to 7.8 percent, the highest since December 1997, from 7.6 percent in October, according to the Vilnius-based statistics office today. Prices rose a monthly 1.1 percent, compared with 1.5 percent in October.
Lithuania is struggling to contain consumer-price growth as the economy expands at the second-fastest pace in the European Union after Latvia. Gross domestic product rose 10.8 percent in the third quarter. On Dec. 7 Fitch Ratings followed Standard & Poor's in cutting Lithuania's credit rating outlook, citing the growing risk of an abrupt slowdown triggered by inflation.
Gas prices are scheduled to rise 69 percent for Lithuanian citizens next year.
Food costs, the biggest item in the consumer basket with a 25.9 percent weighting, rose an annual 15.4 percent in November. Household expenses such as gas, water and electricity, the second biggest category in the index, rose 11.3 percent.
Lithuania is struggling to contain consumer-price growth as the economy expands at the second-fastest pace in the European Union after Latvia. Gross domestic product rose 10.8 percent in the third quarter. On Dec. 7 Fitch Ratings followed Standard & Poor's in cutting Lithuania's credit rating outlook, citing the growing risk of an abrupt slowdown triggered by inflation.
Gas prices are scheduled to rise 69 percent for Lithuanian citizens next year.
Food costs, the biggest item in the consumer basket with a 25.9 percent weighting, rose an annual 15.4 percent in November. Household expenses such as gas, water and electricity, the second biggest category in the index, rose 11.3 percent.
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