Goods export volumes reached a new record in March, with export values increasing across almost all product groups. There was rapid growth in the export of wood and wood products, electrical appliances and equipment, mineral products, machinery and appliances, as well as iron and steel. Conversely, the export of aluminium and its products, as well as tobacco products, declined. Economists have explained how long the record growth in export volumes will continue.

Thanks to a favourable external environment, Latvian goods exports showed rapid growth this March. In year-on-year terms, the value of goods exports increased by 20.6%, according to data from the Central Statistical Bureau (CSP). Latvia exported goods worth 1.34 billion euros. SEB bank economist Dainis Gašpuitis pointed out that global demand boosted export volume growth not only in Latvia but also in our neighbouring countries – Estonia and Lithuania.