The people responsible for vaccine procurement in Latvia and those involved in the export of goods are certainly not the same individuals. Goods exports grew by 7.5% in February, but in adjusted data, which takes into account changes in the number of working days, the increase is even 10.4%. In February, Latvia exported goods worth 1141.5 million euros. Meanwhile, in the adjusted data, the highest volume of goods exports of all time, or 1230.5 million euros, was recorded in February. Furthermore, this is the third consecutive month that such an achievement has been marked. Without adjustment, a comparison with the autumn months and their grain export flows would not be entirely fair.

What has determined this success? Ever since the start of the pandemic, the main driver of success has been specialisation in sectors where the unusual global situation does not reduce, but rather increases demand – timber, food, and communication equipment. This year, rising prices are also helping to issue larger invoices to foreign clients. Prices for intermediate goods sold by our manufacturers grew by 5.9% year-on-year in February, and this specific category of goods dominates our goods exports.