Latvia's trade deficit widened to EUR 399.5 million in July of 2021 from EUR 290.5 million in the same month a year ago. It was the largest monthly trade shortfall since September of 2008, as imports jumped 28.1 percent year-on-year to a record high of EUR 1,328.8 million, driven by purchases of mineral products; base metals & articles of base metals; and woods & articles of woods. Imports from the European Union increased 19.7 percent and those from CIS countries soared 116 percent. Meanwhile, exports advanced 25.5 percent to EUR 1,328.8 million, mostly due to shipments of wood & articles of wood; base metals & articles of base metals; and mineral products . Exports to EU countries rose by 23.3 percent and those to CIS countries went up by 5.8 percent. source: Central Statistical Bureau of Latvia

Balance of Trade in Latvia averaged -172.11 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 September 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. In the long-term, the Latvia Balance of Trade is projected to trend around -90.00 EUR Million in 2022 and -230.00 EUR Million in 2023, according to our econometric models.

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Latvia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-399.52 -378.74 40.13 -557.12 1993 - 2021 EUR Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-06-09 10:00 AM Apr €-216.8M €-163.6M
2021-07-12 10:00 AM May €-357.2M €-216.8M €-180M
2021-08-10 10:00 AM Jun €-378.7M €-357.1M
2021-09-09 10:00 AM Jul €-399.5M €-378.7M
2021-10-12 10:00 AM Aug €-399.5M
2021-11-10 11:00 AM Sep € -270M
2021-12-10 11:00 AM Oct


News Stream
Latvia Trade Shortfall Widest since 2008
Latvia's trade deficit widened to EUR 399.5 million in July of 2021 from EUR 290.5 million in the same month a year ago. It was the largest monthly trade shortfall since September of 2008, as imports jumped 28.1 percent year-on-year to a record high of EUR 1,328.8 million, driven by purchases of mineral products; base metals & articles of base metals; and woods & articles of woods. Imports from the European Union increased 19.7 percent and those from CIS countries soared 116 percent. Meanwhile, exports advanced 25.5 percent to EUR 1,328.8 million, mostly due to shipments of wood & articles of wood; base metals & articles of base metals; and mineral products . Exports to EU countries rose by 23.3 percent and those to CIS countries went up by 5.8 percent.
2021-09-09
Latvia Trade Shortfall Widens in June
Latvia's trade deficit widened to EUR 378.7 million in June of 2021 from EUR 190.1 million in the same month a year ago. Imports surged 42.6 percent year-on-year to EUR 1,677.9 million, mainly driven by purchases of vehicles & equipment (160 percent to EUR 139.1 million); mineral products (110 percent to EUR 99.5 million); and base metals & articles thereof (69.0 percent to EUR 62.8 million). Imports from the European Union jumped 27.9 percent and those from CIS countries soared 120 percent. Meanwhile, exports advanced a slower 31.7 percent to EUR 1,299.2 million, mostly shipments of wood and wood products (86.8 percent to EUR 142.7 million); base metals & articles thereof (57.4 percent to EUR 48.4 million); and mineral products (56.1 percent to EUR 25.2 million). Exports to EU countries rose by 34.5 percent and those to CIS countries went up by 2.6 percent.
2021-08-10
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 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.