Latvia Trade Gap Widens in July

Latvia’s trade deficit narrowed slightly to EUR 249.2 million in April 2026 from EUR 262.2 million in the same month a year earlier. Exports increased 13.9% year-on-year to EUR 1,939 million, driven by stronger sales of mineral fuels, oil and refined products (89.1%), wood and wood products, including charcoal (6.5%), electrical machinery and equipment (17.6%), and vehicles and related parts (12%). Among major trading partners, exports grew to EU countries (9.4%), CIS countries (1.9%), and other markets (31%). Meanwhile, imports rose 11.4% to EUR 2,188.2 million, supported by higher purchases of mineral fuels, oil and refined products (75.1%), electrical machinery and equipment (10.5%), vehicles and related parts (2.9%), and machinery and mechanical appliances (15.2%). Imports also increased from EU countries (10.2%) and other countries (21.4%), while declining from CIS countries (-12.9%). In the first four months of the year, the country’s trade deficit amounted to EUR 1,132 million.

Latvia’s trade deficit widened to EUR 394.6 million in March 2026 from EUR 270.1 million in the corresponding month a year earlier. Imports climbed 11.4% year-on-year to EUR 2,241.7 million, driven by higher purchases of mineral fuels, oil and refined petroleum products (58.2%), mechanisms and mechanical devices (13.9%), and pharmaceutical products (43.5%). Imports also increased from EU countries (11.4%) and non-EU countries (16.2%). Meanwhile, exports rose at a slower pace of 6% to EUR 1,847.1 million, supported by higher shipments of mineral fuels, oil and refined petroleum products (15.6%), electrical equipment and appliances (4.6%), machinery and mechanical appliances (10%), and alcoholic and non-alcoholic beverages (33.9%). Among key trading partners, exports rose to EU countries (11.5%), and CIS countries (25.8%). In the first three months of the year, the country’s trade deficit widened to EUR 900.1 million from EUR 610.3 million in the same period last year.

Latvia’s trade deficit widened to EUR 334.2 million in February 2026 from EUR 121.3 million in the same month a year earlier. Exports fell 5% year-on-year to EUR 1,550.8 million, weighed down by lower sales of wood and wood products, charcoal (-8.3%), mineral fuels and refined petroleum products (-6.8%), and plastics and related products (-11.5%). Among major partners, exports to CIS countries declined 2.8%. Meanwhile, imports rose 7.5% to EUR 1,885 million, driven by higher purchases of mineral fuels, oil and refined petroleum products (42.1%), electrical machinery and equipment (17.3%), mechanical appliances (2.5%), and pharmaceutical products (20%). Imports increased across EU countries (83.4%), CIS countries (0.7%), and other markets (15.9%). Over the first two months of the year, the country’s trade deficit rose to EUR 505.5 million, up from EUR 340.2 million in the same period last year.