Latvia trade deficit shrank to EUR 261.4 million in December of 2020 from EUR 375.9 million in the corresponding month of the previous year, amid lower economic activity. Exports jumped 12.5 percent over a year earlier to EUR 1,148.4 million, boosted by wood and wood products (22.9 percent); electrical appliances and equipment (34.6 percent) and cereal products (25.1 percent). Imports edged up 0.9 percent to EUR 1,409.8 million, driven by purchases of electrical appliances and equipment (12 percent); alcoholic and non-alcoholic beverages (42 percent) and imports of wood and wood products (26.9 percent). For the full 2020, the trade deficit shrank 35.9 percent to EUR 1.89 billion, as exports increased by 1.7 percent to EUR 13.19 billion, while imports fell 5.3 percent to EUR 15.08 billion, compared with the previous year. source: Central Statistical Bureau of Latvia
Balance of Trade in Latvia averaged -170.03 EUR Million from 1993 until 2020, reaching an all time high of 40.10 EUR Million in February of 1993 and a record low of -557.20 EUR Million in July of 2007. This page provides - Latvia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Balance of Trade in Latvia is expected to be -270.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Latvia to stand at -230.00 in 12 months time. In the long-term, the Latvia Balance of Trade is projected to trend around -230.00 EUR Million in 2022, according to our econometric models.