1.  Overview the trade of LATVIA in goods current year until 202004

According to Dalian Infobank, in 202004, LATVIA's exports and imports of goods amounted to 2216.7164 million, and were down 23.88% comparing with the same period of last year. Among these, exports were down 17.44% at 1068.4673 million, and imports were down 29.04% at 1148.2491 million. And the corresponding trade deficit was 79.7819 million and down 75.37%.

During the current year until 202004, LATVIA's total exports and imports of goods were 10345.8033 million and were down 7.64% comparing to the same period of last year. Among these, exports were 4885.1406 million and down 4.18%; imports were 5460.6627 million and down 10.53%. The total trade deficit was 575.5221 million and down 42.75%.

If considering by country (region), LITHUANIA, ESTONIA, GERMANY, RUSSIA, POLAND were LATVIA's top five trading partners. During the current year until 202004, LATVIA's imports and exports to five countries/territories were 1659.9720 million, 1005.6077 million, 957.3588 million, 947.9731 million, 739.3726 million. These values correspond to 16.04%, 9.72%, 9.25%, 9.16%, 7.15% of LATVIA's imports and exports, and, respectively, were down 6.41%, down 8.86%, down 7.66%, down 4.86%, down 6.60% comparing to the same period of last year.

Current year until 202004, 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 202004, LATVIA's exports to these five countries/territories were 726.3222 million, 598.0306 million, 555.8193 million, 352.5226 million, 312.5769 million. These values correspond to 14.87%, 12.24%, 11.38%, 7.22%, 6.40% of LATVIA's exports and, respectively, were down 10.14%, down 0.61%, down 3.61%, down 3.12%, down 9.81% comparing with the same period of last year.

Current year until 202004, 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 202004, LATVIA's imports from these five countries/territories were 933.6498 million, 604.8361 million, 551.0726 million, 449.7884 million, 349.9425 million. These values correspond to 17.10%, 11.08%, 10.09%, 8.24%, 6.41% of LATVIA's total imports and, respectively, were down 3.28%, down 10.11%, down 5.31%, down 14.61%, down 11.34% comparing with the same period of last year.

During the current year until 202004, the trade surplus of LATVIA was mainly from RUSSIA, SWEDEN, ESTONIA, DENMARK, NORWAY at 248.0881 million, 123.9708 million, 106.0309 million, 101.1523 million, 87.6453 million, and up 19.86%, down 12.77%, up 112.71%, up 5.42%, down 12.72%. And the trade deficits were mainly from POLAND, GERMANY, LITHUANIA, ITALY, CHINA at 362.7725 million, 252.3135 million, 207.3276 million, 146.1443 million, 141.4396 million, and down 2.58%, down 18.35%, up 32.05%, up 0.88%, up 1.95%.

Current year until 202004, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202004,  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 1148.0618 million, 1008.1690 million, 890.1047 million, 592.9753 million, 517.7947 million, which were up 3.54%, down 16.07%, down 5.06%, down 23.02%, up 1.04% comparing with the same period of last year and account for 11.10%, 9.74%, 8.60%, 5.73%, 5.00% of LATVIA's total imports and exports.

During the current year until 202004, 44, 85, 84, 22, 87 were LATVIA's top five traded commodities, with total import and export values of 806.5544 million, 535.9776 million, 323.0533 million, 264.5734 million, 216.4339 million. These values correspond to 16.51%, 10.97%, 6.61%, 5.42%, 4.43% of LATVIA's total exports and, respectively, were down 15.77%, up 6.73%, down 0.67%, up 1.64%, down 23.00% comparing to the same period of last year.

During the current year until 202004, 85, 84, 87, 27, 30 were LATVIA's top five traded commodities, with total import values of 612.0842 million, 567.0514 million, 376.5414 million, 291.0921 million, 260.1937 million. These values correspond to 11.21%, 10.38%, 6.90%, 5.33%, 4.76% of LATVIA's total exports and, respectively, were up 0.91%, down 7.39%, down 23.03%, down 29.78%, down 3.77% comparing to the same period of last year.

2. Current year until 202004, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202004, LATVIA-China binational exports and imports of goods amounted to 246.8740 million and were down 8.63% comparing with the same period of last year. Among these, exports from LATVIA to China were 52.7172 million and down 19.80%, imports from China to LATVIA were 194.1568 million and down 5.04%. The total binational trade deficit was 141.4396 million and up 1.95%.

During the urrent year until 202004, commodities with hs2 code, 85, 84, 44, 63, 94, were binational trade's top five traded commodities. They correspond to import and export values of 79.1976 million, 24.0491 million, 20.7484 million, 14.8283 million, 12.2578 million and makes up 32.08%, 9.74%, 8.40%, 6.01%, 4.97% of the total binational imports and exports. These values were also down 4.21%, down 11.55%, down 47.31%, up 302.90%, down 24.35% comparing to the same period last year.

During the current year until 202004, 44, 27, 08, 85, 74 were the top five traded commodities exported to China from LATVIA, with export values of 20.1793 million, 8.6326 million, 4.8098 million, 4.5800 million, 1.9344 million. These values account for 38.28%, 16.38%, 9.12%, 8.69%, 3.67% of LATVIA's total exports and were down 47.96%, down 0.40%, up 77.60%, up 23.11%, up 42.27% comparing to the same period of last year.

During the current year until 202004, 85, 84, 63, 40, 94 were LATVIA's top five traded commodities importing from China , with import values of 74.6176 million, 23.1394 million, 14.7695 million, 11.6749 million, 11.5226 million. These values account for 38.43%, 11.92%, 7.61%, 6.01%, 5.93% of LATVIA's total imports and were down 5.50%, down 11.85%, up 314.08%, up 29.56%, down 23.11% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat