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.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Latvia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-357.17 -216.78 40.13 -557.12 1993 - 2021 EUR Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-04-12 10:00 AM Feb €-49.4M €-72.2M
2021-05-11 10:00 AM Mar €-163.6M €-49.4M €-180M
2021-06-09 10:00 AM Apr €-216.8M €-163.6M
2021-07-12 10:00 AM May €-357.2M €-216.8M €-180M
2021-08-11 10:00 AM Jun €-357.2M
2021-09-09 10:00 AM Jul
2021-10-12 10:00 AM Aug
2021-11-10 11:00 AM Sep € -270M


News Stream
Latvia Trade Deficit Expands in May
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.
2021-07-12
Latvia Trade Deficit Widens in April
Latvia's trade deficit widened to EUR 216.8 million in April of 2021 from EUR 67.1 million in the same month a year ago. It was the largest monthly shortfall in foreign trade since December of 2020, as imports surged 45.7 year-on-year percent to EUR 1,466.3 million, underpinned by purchases of electrical machinery and equipment (43.8 percent); machinery and mechanical appliances (32.3 percent); and iron & non-alloy steel (104.5 percent). Imports from the European Union jumped 43.0 percent and those from CIS countries soared 71.1 percent. Meanwhile, exports advanced a slower 33.0 percent to EUR 1,249.5 million, primarily wood and wood products (39.3 percent); electrical machinery and equipment (26.7 percent); and machinery and mechanical appliances (15.8 percent). Exports to EU countries rose by 37.5 percent and those to CIS countries went up by 24.6 percent.
2021-06-09
Latvia Trade Deficit Shrinks in March
Latvia's trade deficit shrank to EUR 163.6 million in March of 2021 from EUR 232.9 million in the same month a year ago. It was the largest monthly trade shortfall since December 2020, as exports advanced 20.6 percent year-on-year to EUR 1340 million, with sales rising primarily for wood and wood products (35.1%); electrical machinery and equipment (21.4%); and machinery and mechanical appliances (29.7%). Exports to EU countries rose by 23.9 percent and those to CIS countries went up by 6.3 percent. Meantime, imports advanced at a slower 11.9 percent to EUR 1503.6 million, boosted by electrical machinery and equipment (26.1%); machinery and mechanical appliances (23.6%) and vehicles other that railway or tramway rolling stock (12.7%). Imports rose from both EU countries (10.2 percent) and CIS countries (21.6 percent).
2021-05-11
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 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.