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“The global economy has been signaling good conditions for export growth for some time. In recent months, with precaution, stocks have been depleted, which is now a good draw for many commodity groups. Local conditions – good grain yields, increased demand for technology, electrical equipment – have the overall picture of Latvian exports of goods, “indicates”SEB bank “economist Dainis Gašpuitis.
“The good export performance in the first months of autumn was helped by some positive effects, the impact of which will diminish in the coming months. This increases caution when assessing the development of Latvian exports in the coming months. In October, compared to September, the number of product groups The pandemic is far from over, despite news of the imminent availability of vaccines, which will take time.In Latvia, Sweden, Denmark, the rest of the Baltics, which are particularly important for Latvia’s exports, the incidence is still low. In many parts of Europe, the tension between the virus and restrictions is gradually easing, and business surveys , both in Scandinavia and in the Baltics the mood of their employees has not suffered significantly and in some cases even continued to improve resolutely in November, “notes”Swedbank“senior economist Agnese Buceniece.
BanksLuminor“Economist Pēteris Strautiņš notes that in October, grain exports exceeded 100 million euros and timber – 200 million. At the same time, such exports were in the high price period of 2018 and 2019, but then grain exports did not exceed 50 million even in the best autumn months. Exports of food and wood products increased by 24.9% and 10.8%, respectively, in October. In October, total exports of mechanical engineering and electronics products were close to the record reached a month ago, although there is a significant but declining re-export demand. “.
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