Latvia's trade deficit widened to EUR 332.5 million in September 2022 from EUR 201.8 million in the same period last year. Imports were up 35.9 percent at EUR 2.47 billion, the second-highest on record, boosted by purchases of mineral products, chemical and related products, and machinery and mechanical appliances, electrical equipment. Meanwhile, imports of vehicles and wood and articles of wood were down. The main import partners were Lithuania (27.3 percent of total imports), Estonia (13.5 percent), Poland (9.5 percent) and Germany (8.5 percent). Exports were up 32.3 percent at an all-time high of EUR 2.14 billion on the back of sales of mineral products, vegetables, machinery and mechanical appliances, electrical equipment, and chemicals and related products. The main exports partners were Lithuania (18.6 percent of total exports), Estonia (9.8 percent), Germany (6.4 percent) and the Netherlands (6 percent). source: Central Statistical Bureau of Latvia

Balance of Trade in Latvia averaged -180.47 EUR Million from 1993 until 2022, reaching an all time high of 40.13 EUR Million in February of 1993 and a record low of -660.02 EUR Million in May of 2022. 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 December of 2022.

Balance of Trade in Latvia is expected to be -90.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Latvia Balance of Trade is projected to trend around -90.00 EUR Million in 2023 and -230.00 EUR Million in 2024, according to our econometric models.

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Latvia Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-10-11 10:00 AM Aug €-565.8M €-641.9M €-582M
2022-11-10 11:00 AM Sep €-332.5M €-565.8M €-480M
2022-12-12 11:00 AM Oct €-332.5M


Related Last Previous Unit Reference
Balance of Trade -332.52 -565.78 EUR Million Sep 2022
Imports 2469.70 2482.26 EUR Million Sep 2022
Exports 2137.18 1916.48 EUR Million Sep 2022
Tourist Arrivals 112363.00 185337.00 Sep 2022

Latvia Balance of Trade
Latvia exports mainly wood and wood products, machinery and equipment, iron and steel, textiles and foodstuffs. Latvia's main export partners are Lithuania, Russia, Estonia, Germany and Sweden. Latvia imports machinery and equipment, chemicals, fuels and vehicles. Main import partners are Lithuania, Germany, Russia, Poland and Estonia.
Actual Previous Highest Lowest Dates Unit Frequency
-332.52 -565.78 40.13 -660.02 1993 - 2022 EUR Million Monthly

News Stream
Latvia Trade Gap Widens in September
Latvia's trade deficit widened to EUR 332.5 million in September 2022 from EUR 201.8 million in the same period last year. Imports were up 35.9 percent at EUR 2.47 billion, the second-highest on record, boosted by purchases of mineral products, chemical and related products, and machinery and mechanical appliances, electrical equipment. Meanwhile, imports of vehicles and wood and articles of wood were down. The main import partners were Lithuania (27.3 percent of total imports), Estonia (13.5 percent), Poland (9.5 percent) and Germany (8.5 percent). Exports were up 32.3 percent at an all-time high of EUR 2.14 billion on the back of sales of mineral products, vegetables, machinery and mechanical appliances, electrical equipment, and chemicals and related products. The main exports partners were Lithuania (18.6 percent of total exports), Estonia (9.8 percent), Germany (6.4 percent) and the Netherlands (6 percent).
2022-11-10
Latvia Trade Deficit Nearly Triples
Latvia’s trade deficit widened to EUR 565.8 million in August of 2022 from EUR 201.8 million in the corresponding month of the previous year, largely due to surging costs of energy imports. Imports rose by 26.7 percent to EUR 2,482 million, driven by higher purchases of mineral fuels, mineral oils, and products of their distillation (240 percent to EUR 694 million) and electrical machinery and equipment (44.7 percent to EUR 236.3 million). Purchases from the EU rose by 50.7 percent and those from CIS countries by 13.9 percent. Meanwhile, exports increased 32.7 percent, with more sales of mineral fuels and oil (320 percent to EUR 292 million) and electrical machinery and equipment (28.7 percent to EUR 172.9 million). Exports to the EU jumped by 46.5 percent and those to CIS states edged 4.7 percent higher.
2022-10-11
Latvia Posts Widest Trade Gap on Record
Latvia’s trade deficit widened to a record high of EUR 631.1 million in May of 2022 from EUR 389.9 million in the corresponding month of the previous year. Imports jumped by 42.5 percent on year to an all-time high of EUR 2334.3 million, driven by purchases of mineral products (260 percent), vehicles and associated transport equipment (49 percent), and prepared foodstuffs (52.3 percent). Purchases from the EU rose by 49.7 percent, while those from CIS countries declined 16.4 percent. Meanwhile, exports rose at a softer 36.5 percent to 1,703.2 million, amid higher sales of wood and articles of wood (55.5 percent), and mineral products (240 percent). Sales to EU countries advanced 48.9 percent, while those to CIS countries fell by 2.5 percent.
2022-07-11