1.  Overview the trade of LATVIA in goods current year until 202001

According to Dalian Infobank, in 202001, LATVIA's exports and imports of goods amounted to 2654.8780 million, and were up 0.80% comparing with the same period of last year. Among these, exports were up 1.86% at 1267.9035 million, and imports were down 0.14% at 1386.9745 million. And the corresponding trade deficit was 119.0710 million and down 17.39%.

During the current year until 202001, LATVIA's total exports and imports of goods were 2654.8780 million and were up 0.80% comparing to the same period of last year. Among these, exports were 1267.9035 million and up 1.86%; imports were 1386.9745 million and down 0.14%. The total trade deficit was 119.0710 million and down 17.39%.

If considering by country (region), LITHUANIA, ESTONIA, GERMANY, RUSSIA, POLAND were LATVIA's top five trading partners. During the current year until 202001, LATVIA's imports and exports to five countries/territories were 436.8369 million, 264.9511 million, 249.3597 million, 232.5271 million, 170.4860 million. These values correspond to 16.45%, 9.98%, 9.39%, 8.76%, 6.42% of LATVIA's imports and exports, and, respectively, were up 0.94%, down 1.47%, up 1.04%, down 1.69%, down 5.19% comparing to the same period of last year.

Current year until 202001, LATVIA and the top five trade partners LITHUANIA, ESTONIA, RUSSIA, GERMANY, SWEDEN are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202001, LATVIA's exports to these five countries/territories were 193.0652 million, 138.6984 million, 135.8279 million, 106.1031 million, 77.6894 million. These values correspond to 15.23%, 10.94%, 10.71%, 8.37%, 6.13% of LATVIA's exports and, respectively, were down 6.46%, down 0.84%, up 3.96%, up 9.91%, down 12.48% comparing with the same period of last year.

Current year until 202001, LATVIA's exports to top five countries/territories LITHUANIA, GERMANY, POLAND, ESTONIA, RUSSIA are the top five countries/territories that LATVIA imports from in terms of the total export amount. During the current year until 202001, LATVIA's imports from these five countries/territories were 243.7717 million, 143.2566 million, 126.5741 million, 126.2527 million, 96.6993 million. These values correspond to 17.58%, 10.33%, 9.13%, 9.10%, 6.97% of LATVIA's total imports and, respectively, were up 7.70%, down 4.66%, up 1.49%, down 2.15%, down 8.67% comparing with the same period of last year.

During the current year until 202001, the trade surplus of LATVIA was mainly from RUSSIA, DENMARK, SWEDEN, NORWAY, UNITED KINGDOM at 39.1286 million, 31.1933 million, 29.3410 million, 22.6914 million, 16.7166 million, and up 57.92%, down 3.33%, down 27.42%, down 1.38%, down 45.91%. And the trade deficits were mainly from POLAND, LITHUANIA, CHINA, GERMANY, ITALY at 82.6622 million, 50.7066 million, 45.1667 million, 37.1534 million, 26.0533 million, and up 18.72%, up 154.25%, up 8.14%, down 30.85%, up 29.13%.

Current year until 202001, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202001,  commodities with hs2 codes, 85, 44, 84, 87, 27, were LATVIA's top five traded commodities. They correspond to the import and export values of 329.1369 million, 260.6232 million, 216.4852 million, 151.2933 million, 128.1228 million, which were up 10.24%, down 15.26%, down 6.41%, down 13.63%, down 25.86% comparing with the same period of last year and account for 12.40%, 9.82%, 8.15%, 5.70%, 4.83% of LATVIA's total imports and exports.

During the current year until 202001, 44, 85, 84, 22, 87 were LATVIA's top five traded commodities, with total import and export values of 212.6106 million, 149.3254 million, 84.3313 million, 66.9496 million, 57.7563 million. These values correspond to 16.77%, 11.78%, 6.65%, 5.28%, 4.56% of LATVIA's total exports and, respectively, were down 14.60%, up 15.82%, up 10.27%, up 9.57%, down 16.71% comparing to the same period of last year.

During the current year until 202001, 85, 84, 87, 27, 30 were LATVIA's top five traded commodities, with total import values of 179.8115 million, 132.1539 million, 93.5370 million, 76.4523 million, 64.2068 million. These values correspond to 12.96%, 9.53%, 6.74%, 5.51%, 4.63% of LATVIA's total exports and, respectively, were up 6.00%, down 14.64%, down 11.61%, down 25.10%, up 12.55% comparing to the same period of last year.

2. Current year until 202001, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202001, LATVIA-China binational exports and imports of goods amounted to 72.0647 million and were down 3.72% comparing with the same period of last year. Among these, exports from LATVIA to China were 13.4490 million and down 18.70%, imports from China to LATVIA were 58.6157 million and up 0.53%. The total binational trade deficit was 45.1667 million and up 8.14%.

During the urrent year until 202001, commodities with hs2 code, 85, 84, 44, 94, 40, were binational trade's top five traded commodities. They correspond to import and export values of 24.6979 million, 9.6825 million, 7.2294 million, 3.8683 million, 3.3361 million and makes up 34.27%, 13.44%, 10.03%, 5.37%, 4.63% of the total binational imports and exports. These values were also down 8.00%, up 56.23%, down 23.38%, down 1.46%, up 9.25% comparing to the same period last year.

During the current year until 202001, 44, 27, 85, 08, 22 were the top five traded commodities exported to China from LATVIA, with export values of 7.0430 million, 2.6348 million, 0.8628 million, 0.6937 million, 0.3457 million. These values account for 52.37%, 19.59%, 6.42%, 5.16%, 2.57% of LATVIA's total exports and were down 24.00%, up 15.73%, down 18.93%, down 39.13%, up 332.13% comparing to the same period of last year.

During the current year until 202001, 85, 84, 94, 40, 90 were LATVIA's top five traded commodities importing from China , with import values of 23.8350 million, 9.3998 million, 3.6997 million, 3.3305 million, 2.1539 million. These values account for 40.66%, 16.04%, 6.31%, 5.68%, 3.67% of LATVIA's total imports and were down 7.55%, up 56.09%, down 1.16%, up 9.07%, up 5.85% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat