Latvia's trade deficit widened to EUR 357.2 million in May of 2021 from EUR 128.3 million in the same month a year ago. Imports surged 53.7 percent year-on-year to EUR 1,605.8 million, underpinned by purchases of electrical machinery and equipment (21.6 percent); machinery and mechanical appliances (34.3 percent); and mineral fuels, petroleum & petroleum products (89.9 percent). Imports from the European Union jumped 39.0 percent and those from CIS countries soared 110 percent. Meanwhile, exports advanced a slower 36.2 percent to EUR 1,248.7 million, primarily on shipments of wood and wood products (39.7 percent); electrical machinery and equipment (6.6 percent); and machinery and mechanical appliances (44.2 percent). Exports to EU countries rose by 36.2 percent and those to CIS countries went up by 32 percent. source: Central Statistical Bureau of Latvia
Balance of Trade in Latvia averaged -170.85 EUR Million from 1993 until 2021, reaching an all time high of 40.13 EUR Million in February of 1993 and a record low of -557.12 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 July 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.