OREANDA-NEWS. May 19, 2008. Latvia's exports in the first two months of this year, compared to the same period last year, rose by 23 percent to EUR one billion (LVL 0,7 billion), which was the fourth highest increase in the European Union (EU), according to the EU statistical office's "Eurostat" data.

The highest export increase among the EU countries this year has been in Lithuania - by 33 percent to EUR 2,3 million (LVL 1,6 billion), Bulgaria - by 31 percent to EUR 2,3 billion (LVL 1,6 billion) and Slovakia - by 25 percent to EUR 7,8 billion (LVL 5,5 billion).

Estonia's exports in January and February increased by 5 percent to EUR 1,3 billion (LVL 0,9 billion), which was the 22nd fastest increase in the EU.

The biggest export fall was registered in Cyprus and Greece by 11 percent to EUR 0,2 billion (LVL 0,14 billion) and by 6 percent to EUR 2,6 billion (LV 1,8 billion) respectively. Ireland's exports in the first two months of the year remained as before, at EUR 14,1 billion (LVL 9,9 billion).

Major exporters among EU countries in the first two months of 2008, were Germany, the Netherlands and France, where the export reached EUR 168,6 billion (LVL 118.5 billion), EUR 71,8 billion (LVL 50,5 billion) and EUR 71,2 billion (LVL 50 billion), respectively.

Latvia's imports in January and February grew by 9 percent - to EUR 1,8 billion (LVL 1,3 billion). It is the 11th lowest rise in imports among all EU countries. Latvia's external trade deficit thus decreased to EUR 0,7 billion (LVL 0,5 billion), compared to EUR 0,8 billion (LVL 0,55 billion) in the same period last year.

The highest import growth rate in the first two months this year was registered in Lithuania - by 27 percent, Bulgaria - by 25 percent and Poland - by 23 percent. In Greece, imports decreased by 7 percent, in Estonia - by 3 percent. This year the export growth has exceeded import growth in all three Baltic countries.

Among all EU members, the largest external trade surplus for the first two months of the year was recorded in Germany - EUR 33,9 billion (LVL 23,8 billion), the Netherlands - EUR 6.8 billion (LVL 4,8 billion), and Ireland - EUR 3,7 billion (LVL 2,6 billion).

The largest external trade deficits were noted in Great Britain - EUR 22 billion (LVL 15,5 billion), Spain - EUR 17 billion (LVL 611,9 billion), and France- EUR 10 billion (LVL 7 billion).