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Financial News: Latvia Trade Deficit Rises In May

Latvia Trade Deficit Rises In May

07/11/2022 - 09:02:00 (RTTNews)

(RTTNews) - Latvia's foreign trade deficit widened in May from a year ago, as imports increased faster than exports, preliminary data from the statistical office showed on Monday.

The trade deficit widened to EUR 631.1 million in May from EUR 389.9 million in the corresponding month last year. In April, the shortfall was EUR 537.0 million.

As compared to last year, both exports and imports surged by 36.5 percent and 42.5 percent, respectively in March.

The major export partners were Lithuania, Estonia, Germany, Sweden and the United Kingdom, and those of import were Lithuania, Germany, Poland, Estonia and Canada.

On a monthly basis, exports rose 5.0 percent in May and imports gained 8.1 percent

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