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Financial News: Latvia Trade Deficit Widens In March

Latvia Trade Deficit Widens In March

05/11/2022 - 08:19:00 (RTTNews)

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

The trade deficit widened to EUR 441.5 million in March from EUR 205.7 million in the corresponding month last year. In February, the deficit was EUR 256.1 million.

As compared to last year, both exports and imports surged by 31.4 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, Poland, Estonia and Germany.

During the first quarter of this year, exports rose 30.2 percent compared with the corresponding period last year, and imports also logged a sharp growth of 40.5 percent.

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