Development of foreign trade in mineral resources in Latvia
2014
Sproge, I., Institute for National Economy Research (Latvia) | Curkina, I., Institute for National Economy Research (Latvia);Transport and Telecommunication Inst., Riga (Latvia) | Jekabsone, S., University of Latvia, Riga (Latvia)
Mineral resources present a major natural resource of Latvia and they are used for satisfying both the domestic consumption and the external demand. Although, the range and amount of mineral resources available in Latvia is low, they play an important role in the development of the construction, manufacturing, agriculture, and other industries. Mineral products also present an important group of the Latvian export products that contribute to the growth of the Latvian GDP. In 2012, the export of mineral products accounted for 8.8% of total export of goods and presented the sixth most important product group. The main aim of the article is the analysis of development trends of foreign trade in mineral products across various product groups during the time period from 2002 to 2012 in Latvia. The research led to a conclusion that the flows of the external trade in combustible mineral resources had not changed during the studied period and they still predominated in the export and import of mineral products. The trends of export of non-metallic mineral products attest indicate stable development and competitiveness on foreign markets - export of cement products has both experienced rapid growth and changed the structure of the sales market within the studied period.
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