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).

Balance of Trade in Latvia averaged -170.06 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 August of 2020.

Balance of Trade in Latvia is expected to be -300.00 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 -270.00 in 12 months time. In the long-term, the Latvia Balance of Trade is projected to trend around -230.00 EUR Million in 2021, 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
-119.30 -64.70 40.10 -557.20 1993 - 2020 EUR Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-04-09 10:00 AM Feb €-93.6M €-93M €-110M
2020-05-11 10:00 AM Mar €-220.2M €-93.6M € -210M
2020-06-09 10:00 AM Apr €-64.7M €-220.2M €-180M
2020-07-10 10:00 AM May €-119.3M €-64.7M € -210M
2020-08-11 10:00 AM Jun €-119.3M € -300M
2020-09-09 10:00 AM Jul
2020-10-12 10:00 AM Aug
2020-11-10 11:00 AM Sep € -300M


News Stream
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 Posts Widest Trade Gap in 7 Months
Latvia's trade deficit widened to EUR 370.4 million in December of 2019 from EUR 265.3 million in the same month a year ago. It was the largest monthly trade shortfall since May, as imports climbed 11.6 percent year-on-year to EUR 1,383.4 million, boosted by purchases of electrical machinery & equipment (19.4%); vehicles other than railway or tramway rolling stock (1.5%); pharmaceuticals (3.5%); beverages, spirits & vinegar (4.6%) and plastics (6.4%). Meantime, exports advanced at a slower 3.9 percent to EUR 1,013 million, with sales rising primarily for machinery & mechanical appliances (22.7%); beverages, spirits & vinegar (14.8%) and cereals (96.6%), namely wheat and meslin.
2020-02-10
Latvia Posts Smallest Trade Gap in 2 years
Latvia's trade deficit narrowed to EUR 114.8 million in November of 2019 from EUR 142.8 million in the same month of the previous year. It was the smallest monthly trade deficit since November of 2017, as exports dropped 6.5 percent year-on-year to EUR 1,135.3 million, dragged down by lower shipments of wood and articles of wood (-15.3 percent) and electrical machinery and equipment (-4.8 percent). In contrast, exports of beverages, spirits and vinegar went up 4.0 percent. Imports slumped 7.8 percent to EUR 1,250.1 million, mainly due to lower purchases of machinery and mechanical appliances (-20.4 percent) and vehicles other than railway or tramway rolling stock (-19.3 percent).
2020-01-09

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.