Imports to Latvia surged 18.8 percent year-on-year to EUR 1,499.1 million in October 2018, boosted by purchases of vehicles and related transport equipment (57.7%); machinery & mechanical appliances; electrical equipment (24.4%); mineral products (25.3%); basic metals & articles of basic metals (20.6%) and wood & articles of wood (42.4%). The main import partners were Lithuania (17.1% of total imports), Germany (10.2%), Russia (9.6%), Poland (8.7%) and Estonia (6.8 %). Imports in Latvia averaged 595.86 EUR Million from 1993 until 2018, reaching an all time high of 1499.10 EUR Million in October of 2018 and a record low of 52.50 EUR Million in September of 1993.
Imports in Latvia is expected to be 1250.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Latvia to stand at 1395.69 in 12 months time. In the long-term, the Latvia Imports is projected to trend around 1590.00 EUR Million in 2020, according to our econometric models.