Financial News: Latvia Trade Deficit Widens In July

Latvia Trade Deficit Widens In July

09/10/2024 - 10:28:00 (RTTNews)

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

The trade deficit rose to EUR 507.4 million in July from EUR 430.1 million in the corresponding month last year. In June, the shortfall was EUR 368.7 million.

As compared to last year, exports rose 6.5 percent, while imports climbed much faster, by 9.3 percent.

The major export partners were Estonia, Germany, and Russia, while those of import were Lithuania, Estonia, Germany, and Poland.

On a monthly basis, both exports and imports grew by 4.9 percent and 11.7 percent, respectively, in July.

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