Latvia's foreign trade deficit decreased in January from a year ago, as imports fell faster than exports, preliminary data from the statistical office showed on Thursday.
The trade deficit dropped to EUR 171.3 million in January from EUR 218.9 million in the corresponding month last year. In December, the shortfall was EUR 336.6 million.
Exports fell 6.6 percent annually in January, and imports were 8.3 percent lower.
Shipments of cereals plunged 41.1 percent from last year, and those of mineral fuels, mineral oils, and products of their distillation declined by 17.1 percent. On the other hand, imports of iron and steel logged a sharp fall of 49.6 percent.
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