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Export stimulation in Latvia
Definition of export
Export goods or services are provided to foreign consumers by domestic producers.
It is a good that is sent to another country for sale.
Export of commercial quantities of goods normally requires involvement of the customs authorities in both the country of export and the country of import.
Importance of export
Part of gross domestic product (GDP)
One of precondition for providing the Latvian economic development
It can dispose or reduce deficit of current account
Export situation in Latvia
Foreign trade in Latvia has consistently increased since the regaining of independence, particularly after Latvia’s accession to the European Union.
Compare export in 2003 and 2007, it has grown very rapidly – from 1650,6 to 4038,7 million lats. One reason of this rapid growth is entering in European Union in 2004; other reason is measures of export promoting.
Main export products almost every year are:
wood and articles of wood,
base metals and articles of base metals,
agricultural and food products,
machinery and mechanical appliances.
Main export counties are EU and CIS countries.
Export in 2003
The demand for Latvia’s commodities in external markets grew and competitiveness was not impaired.
The growth in both exports and imports of goods was more sizable than in the preceding years, in part because of a price rise under the impact of the strong euro. …
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