1.  Overview the trade of LATVIA in goods current year until 202006

According to Dalian Infobank, in 202006, LATVIA's exports and imports of goods amounted to 2570.4434 million, and were down 4.73% comparing with the same period of last year. Among these, exports were down 2.15% at 1184.9437 million, and imports were down 6.83% at 1385.4998 million. And the corresponding trade deficit was 200.5561 million and down 27.35%.

During the current year until 202006, LATVIA's total exports and imports of goods were 15133.9617 million and were down 10.63% comparing to the same period of last year. Among these, exports were 7114.1578 million and down 6.66%; imports were 8019.8039 million and down 13.87%. The total trade deficit was 905.6462 million and down 46.41%.

If considering by country (region), LITHUANIA, ESTONIA, RUSSIA, GERMANY, POLAND were LATVIA's top five trading partners. During the current year until 202006, LATVIA's imports and exports to five countries/territories were 2471.3467 million, 1474.3532 million, 1380.9269 million, 1347.2992 million, 1069.5049 million. These values correspond to 16.33%, 9.74%, 9.12%, 8.90%, 7.07% of LATVIA's imports and exports, and, respectively, were down 9.42%, down 11.31%, down 12.62%, down 14.21%, down 7.10% comparing to the same period of last year.

Current year until 202006, 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 202006, LATVIA's exports to these five countries/territories were 1091.9775 million, 860.9742 million, 812.4326 million, 501.0953 million, 456.1523 million. These values correspond to 15.35%, 12.10%, 11.42%, 7.04%, 6.41% of LATVIA's exports and, respectively, were down 10.63%, down 8.07%, down 5.33%, down 5.95%, down 9.85% comparing with the same period of last year.

Current year until 202006, 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 202006, LATVIA's imports from these five countries/territories were 1379.3693 million, 846.2039 million, 798.0617 million, 661.9206 million, 519.9527 million. These values correspond to 17.20%, 10.55%, 9.95%, 8.25%, 6.48% of LATVIA's total imports and, respectively, were down 8.44%, down 18.45%, down 6.78%, down 17.70%, down 19.24% comparing with the same period of last year.

During the current year until 202006, the trade surplus of LATVIA was mainly from RUSSIA, SWEDEN, ESTONIA, UNITED KINGDOM, DENMARK at 341.0216 million, 170.6225 million, 150.5120 million, 147.7250 million, 129.9115 million, and up 16.47%, down 14.74%, up 179.19%, down 21.81%, up 0.56%. And the trade deficits were mainly from POLAND, GERMANY, LITHUANIA, CHINA, ITALY at 526.6184 million, 345.1086 million, 287.3918 million, 232.0490 million, 220.9160 million, and down 6.12%, down 31.64%, up 0.94%, up 21.22%, down 5.81%.

Current year until 202006, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202006,  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 1745.0102 million, 1497.1317 million, 1311.3361 million, 846.5516 million, 740.1852 million, which were up 5.65%, down 13.62%, down 8.02%, down 30.02%, down 35.11% comparing with the same period of last year and account for 11.53%, 9.89%, 8.66%, 5.59%, 4.89% of LATVIA's total imports and exports.

During the current year until 202006, 44, 85, 84, 22, 87 were LATVIA's top five traded commodities, with total import and export values of 1188.6617 million, 815.3827 million, 475.3883 million, 368.2991 million, 306.9152 million. These values correspond to 16.71%, 11.46%, 6.68%, 5.18%, 4.31% of LATVIA's total exports and, respectively, were down 13.66%, up 7.76%, down 4.40%, down 8.74%, down 28.07% comparing to the same period of last year.

During the current year until 202006, 85, 84, 87, 27, 39 were LATVIA's top five traded commodities, with total import values of 929.6276 million, 835.9478 million, 539.6364 million, 469.2412 million, 374.5076 million. These values correspond to 11.59%, 10.42%, 6.73%, 5.85%, 4.67% of LATVIA's total exports and, respectively, were up 3.86%, down 9.96%, down 31.09%, down 38.29%, down 4.42% comparing to the same period of last year.

2. Current year until 202006, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202006, LATVIA-China binational exports and imports of goods amounted to 405.9501 million and were up 6.34% comparing with the same period of last year. Among these, exports from LATVIA to China were 86.9505 million and down 8.63%, imports from China to LATVIA were 318.9995 million and up 11.31%. The total binational trade deficit was 232.0490 million and up 21.22%.

During the urrent year until 202006, 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 129.2349 million, 38.9220 million, 34.8245 million, 33.8743 million, 17.8777 million and makes up 31.84%, 9.59%, 8.58%, 8.34%, 4.40% of the total binational imports and exports. These values were also up 12.07%, up 2.44%, down 37.02%, up 598.48%, down 21.47% comparing to the same period last year.

During the current year until 202006, 44, 27, 85, 08, 87 were the top five traded commodities exported to China from LATVIA, with export values of 33.7862 million, 14.6320 million, 7.3229 million, 6.2449 million, 3.8748 million. These values account for 38.86%, 16.83%, 8.42%, 7.18%, 4.46% of LATVIA's total exports and were down 37.87%, up 9.44%, up 36.23%, up 82.80%, up 175.38% comparing to the same period of last year.

During the current year until 202006, 85, 84, 63, 94, 40 were LATVIA's top five traded commodities importing from China , with import values of 121.9120 million, 36.8031 million, 33.8154 million, 16.6053 million, 13.4533 million. These values account for 38.22%, 11.54%, 10.60%, 5.21%, 4.22% of LATVIA's total imports and were up 10.89%, up 0.71%, up 613.99%, down 21.63%, up 31.69% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat