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.