Latvia Trade Gap Widens In July

(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 514.2 million in July from EUR 406.2 million in the corresponding month last year. In June, the shortfall was EUR 464.4 million.

As compared to last year, exports rose only 0.1 percent, while imports climbed much faster, by 5.7 percent.

Exports to the United States fell by 24.3 percent due to reduced outflows of wood and articles of wood and wood charcoal.

On a monthly basis, both exports and imports grew by 7.8 percent and 8.5 percent, respectively, in July.