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 March 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.

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Latvia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-261.40 -76.10 40.10 -557.20 1993 - 2020 EUR Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-11-10 11:00 AM Sep €-152.8M €-157.8M € -300M
2020-12-10 11:00 AM Oct €-76.5M €-152.8M €-162M
2021-01-11 11:00 AM Nov €-76.1M €-76.5M
2021-02-09 11:00 AM Dec €-261.4M €-76.1M €-170M
2021-03-12 11:00 AM Jan €-261.4M €-100M
2021-04-09 10:00 AM Feb
2021-05-11 10:00 AM Mar
2021-06-09 10:00 AM Apr
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Latvia Trade Deficit Shrinks in December
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.
2021-02-09
Latvia Trade Gap Narrows in June
Latvia trade deficit shrank to EUR 180.1 million in June of 2020 from EUR 229.7 million in the corresponding month of the previous year, amid the easing lockdown restrictions. Imports fell 5.2 percent over a year earlier to EUR 1,158.7 million, mainly due to reduced purchases of machinery & mechanical appliances (-4.8 percent); vehicles other than railway or tramway rolling stock, and parts and accessories thereof (-34.3 percent) and mineral fuels (-47 percent). Exports decreased at a slower 1.4 percent to EUR 978.6 million, as lower shipments of vehicles other than railway or tramway rolling stock, and parts and accessories thereof (-23.9 percent) were partly offset by a surge in those of electrical machinery (30 percent ) and pharmaceuticals (30.5 percent).
2020-08-11
Latvia Trade Deficit Narrows in May
Latvia's trade deficit narrowed to EUR 119.3 million in May 2020 from EUR 371.8 million in the corresponding month of the previous year, amid the coronavirus pandemic. Imports plunged 29.6 percent over a year earlier to EUR 1025.4 million, mostly due to lower purchases of vehicles and transport equipment (-79.3 percent), mineral products (-41.5 percent), chemical products (-21.1 percent) and machinery and mechanical appliances (-10.1 percent). Exports declined 16.8 percent to EUR 906.1 million, mainly due to a drop in sales of vehicles and transport equipment (-51.2 percent), prepared foodstuffs (-23 percent), base metals (-21 percent) and mineral products (-29.7 percent).
2020-07-10
Latvia Posts Smallest Trade Gap since 2017
Latvia's trade deficit decreased to EUR 93 million in January of 2020 from EUR 148.6 million in the same month a year ago. This was the smallest monthly trade shortfall since November of 2017, as exports advanced 7.2 percent year-on-year to EUR 1,073.4 million, mainly boosted by sales of electrical machinery & equipment (18.9 percent); machinery & mechanical appliances (33 percent) and cereals (40.4 percent), namely wheat and meslin (46 percent). Meanwhile, imports rose at a softer 1.5 percent to EUR 1,166.4 million, as higher purchases of electrical machinery & equipment (9.7 percent) and iron & steel (7.6 percent) were partly offset by declines in those of machinery & mechanical appliances (-10.3 percent) and vehicles other than railway or tramway rolling stock, and parts & accessories thereof (-6.8 percent).
2020-03-11

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.