Latvia Trade Gap Widens In May

(RTTNews) - Latvia's foreign trade deficit increased in May from a year ago, as imports grew faster than exports, preliminary data from the statistical office showed on Friday.

The trade deficit rose to EUR 374.0 million in May from EUR 301.1 million in the corresponding month last year. In April, the shortfall was EUR 249.2 million.

Exports climbed 6.9 percent annually in May, and imports were 9.6 percent higher.

The country exported 65.1 percent more mineral fuels, mineral oils, and products of their distillation in May, while outflows of pharmaceutical products dropped 7.0 percent. On the other hand, the country imported 18.0 percent more electrical machinery and equipment.