1.  Overview the trade of LATVIA in goods current year until 202003

According to Dalian Infobank, in 202003, LATVIA's exports and imports of goods amounted to 2870.9412 million, and were down 6.20% comparing with the same period of last year. Among these, exports were down 2.77% at 1304.1961 million, and imports were down 8.87% at 1566.7451 million. And the corresponding trade deficit was 262.5490 million and down 30.53%.

During the current year until 202003, LATVIA's total exports and imports of goods were 8129.0869 million and were down 1.93% comparing to the same period of last year. Among these, exports were 3816.6733 million and up 0.33%; imports were 4312.4136 million and down 3.85%. The total trade deficit was 495.7402 million and down 27.24%.

If considering by country (region), LITHUANIA, ESTONIA, GERMANY, RUSSIA, POLAND were LATVIA's top five trading partners. During the current year until 202003, LATVIA's imports and exports to five countries/territories were 1308.5948 million, 787.9101 million, 765.7779 million, 737.0478 million, 571.4402 million. These values correspond to 16.10%, 9.69%, 9.42%, 9.07%, 7.03% of LATVIA's imports and exports, and, respectively, were up 0.88%, down 3.23%, down 1.49%, down 1.24%, down 3.85% comparing to the same period of last year.

Current year until 202003, LATVIA and the top five trade partners LITHUANIA, RUSSIA, ESTONIA, GERMANY, SWEDEN are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202003, LATVIA's exports to these five countries/territories were 576.0286 million, 468.4063 million, 428.0024 million, 278.4393 million, 238.8091 million. These values correspond to 15.09%, 12.27%, 11.21%, 7.30%, 6.26% of LATVIA's exports and, respectively, were down 3.34%, up 4.18%, up 0.49%, down 0.78%, down 9.93% comparing with the same period of last year.

Current year until 202003, 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 202003, LATVIA's imports from these five countries/territories were 732.5662 million, 487.3386 million, 426.2223 million, 359.9077 million, 268.6415 million. These values correspond to 16.99%, 11.30%, 9.88%, 8.35%, 6.23% of LATVIA's total imports and, respectively, were up 4.47%, down 1.90%, down 2.04%, down 7.31%, down 9.46% comparing with the same period of last year.

During the current year until 202003, the trade surplus of LATVIA was mainly from RUSSIA, SWEDEN, DENMARK, ESTONIA, NORWAY at 199.7648 million, 92.4770 million, 80.0808 million, 68.0946 million, 66.8544 million, and up 30.67%, down 16.67%, up 1.39%, up 80.88%, down 4.35%. And the trade deficits were mainly from POLAND, GERMANY, LITHUANIA, ITALY, CHINA at 281.0043 million, 208.8993 million, 156.5377 million, 120.0777 million, 111.1905 million, and up 1.88%, down 3.35%, up 48.68%, up 16.45%, up 5.62%.

Current year until 202003, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202003,  commodities with hs2 codes, 85, 44, 84, 87, 22, were LATVIA's top five traded commodities. They correspond to the import and export values of 913.2675 million, 771.4737 million, 683.9305 million, 509.0343 million, 411.3402 million, which were up 9.47%, down 14.76%, down 1.13%, down 10.68%, up 4.13% comparing with the same period of last year and account for 11.23%, 9.49%, 8.41%, 6.26%, 5.06% of LATVIA's total imports and exports.

During the current year until 202003, 44, 85, 84, 22, 87 were LATVIA's top five traded commodities, with total import and export values of 616.1720 million, 422.3270 million, 245.1668 million, 211.2492 million, 186.6444 million. These values correspond to 16.14%, 11.07%, 6.42%, 5.53%, 4.89% of LATVIA's total exports and, respectively, were down 14.58%, up 11.87%, up 1.54%, up 3.75%, down 11.51% comparing to the same period of last year.

During the current year until 202003, 85, 84, 87, 27, 30 were LATVIA's top five traded commodities, with total import values of 490.9405 million, 438.7637 million, 322.3898 million, 227.3490 million, 202.3562 million. These values correspond to 11.38%, 10.17%, 7.48%, 5.27%, 4.69% of LATVIA's total exports and, respectively, were up 7.48%, down 2.57%, down 10.20%, down 24.69%, up 6.39% comparing to the same period of last year.

2. Current year until 202003, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202003, LATVIA-China binational exports and imports of goods amounted to 188.4460 million and were down 8.62% comparing with the same period of last year. Among these, exports from LATVIA to China were 38.6278 million and down 23.47%, imports from China to LATVIA were 149.8183 million and down 3.81%. The total binational trade deficit was 111.1905 million and up 5.62%.

During the urrent year until 202003, 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 61.3352 million, 19.8164 million, 15.4912 million, 11.1023 million, 10.3706 million and makes up 32.55%, 10.52%, 8.22%, 5.89%, 5.50% of the total binational imports and exports. These values were also down 5.25%, up 12.50%, down 49.15%, down 14.43%, up 28.13% comparing to the same period last year.

During the current year until 202003, 44, 27, 85, 08, 87 were the top five traded commodities exported to China from LATVIA, with export values of 14.9556 million, 6.4249 million, 3.5000 million, 3.3334 million, 1.6400 million. These values account for 38.72%, 16.63%, 9.06%, 8.63%, 4.25% of LATVIA's total exports and were down 50.21%, up 0.52%, up 29.62%, up 43.04%, up 48.51% comparing to the same period of last year.

During the current year until 202003, 85, 84, 94, 40, 90 were LATVIA's top five traded commodities importing from China , with import values of 57.8352 million, 19.1837 million, 10.5988 million, 10.3634 million, 6.2115 million. These values account for 38.60%, 12.80%, 7.07%, 6.92%, 4.15% of LATVIA's total imports and were down 6.77%, up 13.56%, down 11.79%, up 28.04%, up 17.49% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat