For the economy. Export flows in these product groups are at high risk of shrinking until. Companies re-orient to india phone number list new markets and recover at least part of their lost business. On the import side. Of goods, is slightly more important. It is fourth largest import partner. Belarus is in 12th. Place and ukraine in 18th place. These countries provide about 13% of the india phone number list value of goods imported to. Latvia. We mainly import mineral products (oil products, gas, electricity), steel, wood and fertilizers. In addition, dependence on countries. Directly involved in the war is relatively high. Russia, belarus and uk together account for between 35-55% of the total imports of these.
Processes of certain industries. It is likely that we will see that, both as a result of the sanctions already. Imposed and as a precaution, the geography of the india phone number list supply of these goods will begin to change in the. Coming months. It is also possible that physical imports of these raw materials will fall until substitutes. Can be found. The india phone number list company sever stall - a major steel supplier - is already subject to. Sanctions. Russia, for its part, has restricted the export of fertilizers. In the case of wood, you will. Probably have to rely more on the local market. In the event of a shortage, the production and export of products.
Role in trade in services, so the transit sector is expected to suffer significantly. It is possible that the recovery of the pandemic will also be slower for the india phone number list tourism industry, as tourists in latvia will most likely not return so soon. We can expect that trade ties with weaken in the near future. Establishing and strengthening new trade relations will, of course, take time and resources. Disruption of gas supplies from is a risk, but there india phone number list are alternatives. The economy has a high level of energy dependence on. 90% of natural gas imports come from this country.