Main exports from Latvia to Canada are food products (18.09%); machinery and electrical equipment (17.97%); and transport vehicles (13.32%).
Main imports from Canada to Latvia are machinery and electrical equipment (37.03%); plastics, rubber and articles made of plastic and rubber (17.42%); optical products (including for medical applications), watches, musical instruments (13.46%). Latvia's National airline Air Baltic has chosen Bombardier C300 planes as the aircraft of choice.
Latvia is pleased that negotiations of Comprehensive Economic and Trade Agreement (CETA) and Strategic Partnership Agreement (SPA) are finally concluded.
CETA will further open up trading and investment opportunities creating jobs and new opportunities for business on both sides of the Atlantic.
CETA is one of the most advanced and modern trade agreements EU has concluded and covers market access with nearly 99% of tariff lines, access to public procurement at the provincial level; strengthened intellectual property rights and the protection of more than 140 specific European high-quality agricultural products through geographical indications. It is noteworthy that SMEs receive special attention under CETA.
After the finalization of texts in all EU official languages and signature in 2016 we will focus on the swift ratification of CETA, and Latvia will be a keen supporter of this process.
Trade 2015 (Source: Central Statistical Bureau of Latvia)
|
Export
... 47. Canada – 16 099 588 EUR or 0.17% |
Import
... 35. Canada – 17 301 910 EUR or 0.16% |
Trade between Latvia and Canada from 2002 to 2015, in EUR
|
Year |
Export |
Import |
|
2006 |
21 815 596 |
15 444 325 |
|
2007 |
16 007 287 |
18 313 403 |
|
2008 |
14 016 444 |
17 661 554 |
|
2009 |
6 423 693 |
6 952 854 |
|
2010 |
7 786 601 |
54 958 659 |
|
2011 |
10 784 375 |
5 979 297 |
|
2012 |
10 279 213 |
8 906 285 |
|
2013 |
11 670 413 |
10 518 106 |
|
2014 |
15 543 401 |
12 817 367 |
|
2015 |
16 099 588 |
17 301 910 |
The turnover in bilateral trade in 2015 amounted to 33.40 MEUR (Canada ranked 44thamong Latvia's foreign trade partners), an increase of 17.77% in comparison to 2014.
- The volume of exports toCanada amounted to 16.09 MEUR which is an increase of 3.58% or 0.55 MEUR in comparison to 2014.
- The volume of imports from Canada amounted to 17.30 MEUR, increase by 34.99% or 4.49 MEUR in comparison to 2014.
Main exports to Canada in 2015 by kind of goods
|
Type of goods |
EUR |
Share of total export |
|
Total |
16 099 588 |
100% |
|
Machinery and mechanical appliances; electrical equipment - Telephones 25.83% - Parts only or mainly for engines 2.28% |
3 742 053 |
23.24% |
|
Food industry products - Undenatured ethyl alcohol 78.00% - Prepared or tinned fish 14.57% |
3 212 539 |
19.95% |
|
Transport vehicles - Parts for dirigibles 69,91% - chassis and structural elements 29,88% |
1 825 031 |
11.34% |
|
Optical products (incl. medical); watches, musical instruments - Optical fibres and related products 73.65% - Medical, surgical and veterinary instruments 15.80% - Automatic regulation or control equipment 6.89% |
1 361 471 |
8.46% |
|
Articles of stone, plaster, cement, glass , ceramic products |
1 321 567 |
8.21% |
|
Miscellaneous manufactured articles |
1 063 236 |
6.60% |
|
Textiles and textile articles |
1 041 649 |
6.47% |
|
Products of chemical and allied industries |
1 005 043 |
6.24% |
|
Metal and metal parts |
821 265 |
5.10% |
Main imports to Canada in 2015 by kind of goods
|
Type of goods |
EUR |
Share of total export |
|
Total |
17 301 910 |
100% |
|
Transport vehicles - various aircraft 80,08% - Parts for aircraft 13,95% |
7 214 032 |
41.70% |
|
Machinery and mechanical appliances; electrical equipment - Panels, consoles, stands, and enclosures for electrical controls and equipment 15.06% - Dishwashers, equipment for washing or drying bottles or other dishes 13.07% - Telephones 12.45% - Equipment for electric lighting or signalling 11.83% |
2 080 441 |
12.02% |
|
Products of chemical and allied industries - Pharmaceuticals 44.18% |
1 974 278 |
11.41% |
|
Plastics; rubber and articles thereof |
1 331 279 |
7.69% |
|
Optics including for medical applications; watches; musical instruments |
1 302 389 |
7.53% |