1.  Overview the trade of LATVIA in goods current year until 202005

According to Dalian Infobank, in 202005, LATVIA's exports and imports of goods amounted to 2217.7149 million, and were down 26.90% comparing with the same period of last year. Among these, exports were down 20.45% at 1044.0735 million, and imports were down 31.82% at 1173.6414 million. And the corresponding trade deficit was 129.5679 million and down 68.30%.

During the current year until 202005, LATVIA's total exports and imports of goods were 12563.5182 million and were down 11.74% comparing to the same period of last year. Among these, exports were 5929.2141 million and down 7.51%; imports were 6634.3042 million and down 15.21%. The total trade deficit was 705.0901 million and down 50.14%.

If considering by country (region), LITHUANIA, ESTONIA, GERMANY, RUSSIA, POLAND were LATVIA's top five trading partners. During the current year until 202005, LATVIA's imports and exports to five countries/territories were 2044.0620 million, 1225.9708 million, 1144.4727 million, 1133.1763 million, 896.3567 million. These values correspond to 16.27%, 9.76%, 9.11%, 9.02%, 7.13% of LATVIA's imports and exports, and, respectively, were down 9.90%, down 11.89%, down 13.37%, down 11.60%, down 8.72% comparing to the same period of last year.

Current year until 202005, 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 202005, LATVIA's exports to these five countries/territories were 894.3740 million, 705.1746 million, 678.0390 million, 427.8336 million, 383.3234 million. These values correspond to 15.08%, 11.89%, 11.44%, 7.22%, 6.46% of LATVIA's exports and, respectively, were down 12.66%, down 8.95%, down 5.97%, down 6.02%, down 11.53% comparing with the same period of last year.

Current year until 202005, 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 202005, LATVIA's imports from these five countries/territories were 1149.6879 million, 716.6391 million, 667.2173 million, 547.9319 million, 428.0017 million. These values correspond to 17.33%, 10.80%, 10.06%, 8.26%, 6.45% of LATVIA's total imports and, respectively, were down 7.64%, down 17.23%, down 8.10%, down 18.25%, down 15.64% comparing with the same period of last year.

During the current year until 202005, the trade surplus of LATVIA was mainly from RUSSIA, SWEDEN, ESTONIA, UNITED KINGDOM, DENMARK at 277.1728 million, 153.4962 million, 130.1071 million, 121.6970 million, 114.3607 million, and up 3.76%, down 11.87%, up 156.04%, down 22.26%, up 0.56%. And the trade deficits were mainly from POLAND, GERMANY, LITHUANIA, CHINA, ITALY at 438.0778 million, 288.8056 million, 255.3139 million, 181.9459 million, 175.5778 million, and down 6.81%, down 29.66%, up 15.67%, up 10.93%, down 5.20%.

Current year until 202005, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202005,  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 1421.0676 million, 1251.8384 million, 1083.0742 million, 699.5244 million, 613.1785 million, which were up 2.04%, down 15.17%, down 9.11%, down 30.16%, down 7.48% comparing with the same period of last year and account for 11.31%, 9.96%, 8.62%, 5.57%, 4.88% of LATVIA's total imports and exports.

During the current year until 202005, 44, 85, 84, 22, 87 were LATVIA's top five traded commodities, with total import and export values of 1000.4475 million, 666.7907 million, 390.8826 million, 310.7439 million, 252.5220 million. These values correspond to 16.87%, 11.25%, 6.59%, 5.24%, 4.26% of LATVIA's total exports and, respectively, were down 14.74%, up 4.48%, down 4.84%, down 6.99%, down 29.29% comparing to the same period of last year.

During the current year until 202005, 85, 84, 87, 27, 30 were LATVIA's top five traded commodities, with total import values of 754.2770 million, 692.1916 million, 447.0024 million, 379.0239 million, 314.1597 million. These values correspond to 11.37%, 10.43%, 6.74%, 5.71%, 4.74% of LATVIA's total exports and, respectively, were down 0.03%, down 11.36%, down 30.64%, down 33.55%, down 5.44% comparing to the same period of last year.

2. Current year until 202005, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202005, LATVIA-China binational exports and imports of goods amounted to 321.7634 million and were down 1.84% comparing with the same period of last year. Among these, exports from LATVIA to China were 69.9087 million and down 14.63%, imports from China to LATVIA were 251.8546 million and up 2.42%. The total binational trade deficit was 181.9459 million and up 10.93%.

During the urrent year until 202005, 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 103.3325 million, 30.5643 million, 28.3615 million, 24.4840 million, 15.1807 million and makes up 32.11%, 9.50%, 8.81%, 7.61%, 4.72% of the total binational imports and exports. These values were also up 3.75%, down 7.20%, down 40.86%, up 489.45%, down 20.00% comparing to the same period last year.

During the current year until 202005, 44, 27, 85, 08, 74 were the top five traded commodities exported to China from LATVIA, with export values of 27.5492 million, 12.0087 million, 5.7411 million, 5.5390 million, 2.6436 million. These values account for 39.41%, 17.18%, 8.21%, 7.92%, 3.78% of LATVIA's total exports and were down 41.59%, up 10.66%, up 21.02%, up 80.74%, up 30.90% comparing to the same period of last year.

During the current year until 202005, 85, 84, 63, 94, 40 were LATVIA's top five traded commodities importing from China , with import values of 97.5914 million, 29.3248 million, 24.4251 million, 14.0430 million, 12.4860 million. These values account for 38.75%, 11.64%, 9.70%, 5.58%, 4.96% of LATVIA's total imports and were up 2.89%, down 7.76%, up 504.56%, down 20.21%, up 27.64% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat