Latvia Trade Deficit Widens in May

2026-07-10 10:30 By Jereli Escobar 1 min. read

Latvia’s trade deficit widened to EUR 374 million in May 2026 from EUR 301.1 million in the same month a year earlier.

Imports rose 9.6% year-on-year to EUR 2,118 million, driven by higher purchases of mineral fuels, oil and refined petroleum products (58.3%), electrical machinery and equipment (18%), and vehicles and related parts (10.3%).

By destination, imports increased from EU countries (6.7%), other countries (31.3%), while it fell to CIS countries (-20.4%).

Meanwhile, exports grew 6.9% to EUR 1,744 million, supported by stronger shipments of mineral fuels, oil and refined petroleum products (65.1%), electrical machinery and equipment (13%), vehicles and related parts (8.9%), and machinery and mechanical appliances (8.9%).

Exports to EU countries increased 10.7%, while shipments to CIS countries fell 2.8% and those to other countries edged down 0.5%.

In the first five months of the year, the country's cumulative trade deficit totaled EUR 1,486 million.



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Latvia Trade Deficit Widens in May
Latvia’s trade deficit widened to EUR 374 million in May 2026 from EUR 301.1 million in the same month a year earlier. Imports rose 9.6% year-on-year to EUR 2,118 million, driven by higher purchases of mineral fuels, oil and refined petroleum products (58.3%), electrical machinery and equipment (18%), and vehicles and related parts (10.3%). By destination, imports increased from EU countries (6.7%), other countries (31.3%), while it fell to CIS countries (-20.4%). Meanwhile, exports grew 6.9% to EUR 1,744 million, supported by stronger shipments of mineral fuels, oil and refined petroleum products (65.1%), electrical machinery and equipment (13%), vehicles and related parts (8.9%), and machinery and mechanical appliances (8.9%). Exports to EU countries increased 10.7%, while shipments to CIS countries fell 2.8% and those to other countries edged down 0.5%. In the first five months of the year, the country's cumulative trade deficit totaled EUR 1,486 million.
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